Key Takeaways MDU Resources raised its quarterly dividend to 14 cents per share, payable Oct. 1, 2025.The increase boosts the annualized dividend to 56 cents, with a yield of 3.16%.MDU has delivered uninterrupted dividends for 87 years, underscoring its reliability.MDU Resources (MDU) announced that its board of directors has approved a 7.7% increase in its quarterly dividend rate. The new dividend rate will be 14 cents per share (compared with the previous quarter’s 13 cents), payable on Oct. 1, 2025, to s ...

Core Viewpoint - Winnebago Industries, Inc. announced a quarterly cash dividend of $0.35 per share, reflecting a 3% increase from the previous quarter, demonstrating the company's commitment to shareholder value and long-term growth [1][2]. Company Overview - Winnebago Industries is a leading manufacturer of premium outdoor recreation products, focusing on purposeful innovation and exceptional customer experiences [3]. - The company offers a diverse portfolio of high-quality RV and marine recreation products under various brands, including Grand Design RV, Newmar, Winnebago, Baretta, and Chris-Craft, as well as advanced lithium power solutions under the Lithionics brand [3]. - Winnebago operates across multiple facilities located in Indiana, Iowa, Minnesota, and Florida, and is publicly traded on the New York Stock Exchange under the symbol WGO [3]. Dividend Policy - The company has a track record of over 11 years of uninterrupted quarterly dividend payments, reflecting its disciplined long-term capital allocation approach [2]. - The recent dividend declaration of $0.35 per share is payable on September 24, 2025, to stockholders of record as of September 10, 2025 [1].

Core Points - Telephone and Data Systems, Inc. (TDS) has declared dividends for the third quarter of 2025 on its Common Shares, Series A Common Shares, Series UU Preferred Shares, and Series VV Preferred Shares [1][4] Group 1: Dividend Information - TDS will pay a quarterly dividend of $0.04 per Common Share and Series A Common Share, payable on September 30, 2025, to holders of record on September 15, 2025 [4] - The company will pay a quarterly dividend of $414.0625 per share on the 6.625% Series UU Preferred shares, with holders of depositary shares receiving $0.4140625 per depositary share, also payable on September 30, 2025, to holders of record on September 15, 2025 [4] - For the 6.000% Series VV Preferred shares, TDS will pay a quarterly dividend of $375.0000 per share, with holders of depositary shares receiving $0.3750000 per depositary share, payable on September 30, 2025, to holders of record on September 15, 2025 [4] Group 2: Company Overview - TDS was founded in 1969 and provides broadband services and wireless infrastructure through its subsidiaries, TDS Telecom and Array Digital Infrastructure, Inc. [3] - Comprehensive financial information, including earnings releases and filings, can be accessed through TDS's investor relations website [3]

Core Viewpoint - Smithfield Foods, Inc. has announced a quarterly dividend payment of $0.25 per share, reflecting the company's commitment to returning value to shareholders [1] Company Overview - Smithfield Foods, Inc. is a leading American food company specializing in packaged meats and fresh pork products, with a diverse brand portfolio and strong relationships with U.S. farmers and customers [2]

Financial Data and Key Metrics Changes - The company reported a second quarter net income attributable to shareholders of $208 million or $1.1 per diluted share, with adjusted net income of $322 million or $1.7 per diluted share compared to $150 million or $0.78 per diluted share in the same period of 2024 [15][16] - Adjusted EBITDA for the second quarter was $665 million compared to $406 million in 2024 [16] - The company returned $145 million in cash to shareholders, consisting of $50 million in share repurchases and $95 million in regular dividends [13] Business Line Data and Key Metrics Changes - In the refining segment, adjusted EBITDA was $476 million compared to $187 million in 2024, driven by higher adjusted refinery gross margins [16] - The Renewables segment reported adjusted EBITDA of negative $2 million, impacted by lower sales volumes and margins, with total sales volumes of 55 million gallons compared to 64 million gallons in 2024 [17][18] - The Marketing segment delivered $25 million in EBITDA, up from $15 million in 2024, driven by higher margins [18] - The Lubricants and Specialties segment reported EBITDA of $55 million, down from $97 million in 2024, primarily due to lower base oil margins and sales volumes [19] - The Midstream segment reported adjusted EBITDA of $112 million, slightly up from $110 million in the same period last year [19] Market Data and Key Metrics Changes - The company achieved an operating expense per throughput barrel of $7.32, nearing its goal of $7.25 per barrel [10] - The refining throughput averaged 616,000 barrels per day for the second quarter, down from 635,000 barrels per day in 2024 due to turnaround activities [16] Company Strategy and Development Direction - The company is focused on improving reliability, optimization, and integration, with a commitment to return excess cash to shareholders [8][14] - The company plans to continue executing its strategy with one remaining turnaround scheduled at the Puget Sound refinery [10] - The company is optimistic about refining margins, particularly in distillates, and believes its overall strategy is delivering organic growth [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the fundamentals of each business, including refining, and noted improvements in reliability and operational performance [104][105] - The company anticipates continued strength in refining margins and is positioned well to take advantage of market opportunities [13][40] Other Important Information - The company has approximately $750 million remaining on its share repurchase authorization and has reduced its share count by over 58 million shares since the Sinclair acquisition [13] - The Board of Directors declared a regular quarterly dividend of $0.50 per share, payable on September 4, 2025 [13] Q&A Session Summary Question: Understanding strong performance in refining and capture rates - Management highlighted improvements in crude performance and flexibility in crude slate, contributing to strong capture rates despite market headwinds [24][26] Question: Balancing shareholder returns and bolt-on opportunities - Management reiterated commitment to shareholder returns while also pursuing organic growth opportunities, indicating a balance can be achieved [30][31] Question: Renewable diesel credits and market structure - Management confirmed recognition of producers' tax credits and expressed optimism about future market structure improvements for renewable diesel [35][40] Question: Operational performance and turnaround improvements - Management noted significant improvements in turnaround performance and reliability, indicating a successful operational excellence journey [42][45] Question: M&A perspective and market opportunities - Management stated a focus on bolt-on opportunities in marketing and lubricants, while being cautious about the current M&A landscape [72][74] Question: Renewable diesel sustainable EBITDA and SREs - Management expressed confidence in renewable diesel positioning and acknowledged potential impacts of SREs on RIN prices, indicating ongoing monitoring of the situation [96][100]

Group 1 - Infortar will pay a dividend of 1.5 euros per share for the 2024 financial year, with the payment date set for 15 July 2025 [1][2] - The record date for shareholders entitled to dividends is 4 July 2025, and the ex-date is 3 July 2025 [1] Group 2 - Infortar operates in seven countries, focusing on maritime transport, energy, and real estate, and owns a 68.47% stake in Tallink Grupp and a 100% stake in Elenger Grupp [3] - The company has a real estate portfolio of approximately 141,000 square meters and operates in various sectors including construction, mineral resources, agriculture, and printing [3] - Infortar comprises 110 companies, including 101 subsidiaries, 4 affiliated companies, and 5 subsidiaries of affiliated companies, employing a total of 6,296 people [3]

Group 1: Company Performance - MRC Global Inc. is experiencing solid momentum in the gas utility sector, with revenues increasing 3% year over year to $273 million in Q1 2025, driven by new home construction and lower energy price volatility [1][6] - The company anticipates revenue growth in low to high single digits year over year for 2025, supported by increased customer activity in maintenance, repair, and operations (MRO) [1][6] - MRC Global generated free cash flow of $9 million in Q1 2025 and aims to continue rewarding shareholders through dividends and share buybacks [3][6] Group 2: Shareholder Returns - In Q1 2025, MRC Global repurchased shares worth $6 million and had total dividend payments of $23 million in 2024, along with share repurchases of $365 million [2][6] - The company has authorized a new share repurchase program allowing for the buyback of up to $125 million worth of shares until January 2, 2028 [2] Group 3: Financial Health - MRC Global repaid $184 million in borrowings under revolving credit facilities in Q1 2025, following a repayment of $449 million in 2024, indicating a focus on reducing debt [3] - The company's leverage ratio was 1.7x at the end of Q1 2025, reflecting its commitment to lowering debt levels [3] Group 4: Industry Challenges - MRC Global faces headwinds in the Production & Transmission Infrastructure (PTI) and Downstream, Industrial and Energy Transition (DIET) sectors due to project completion delays and reduced international activity [7] - Potential conflicts in Southeast Asia and the Middle East may impact the global supply chain, affecting the availability of critical components [8] - Labor constraints from increased competition for talent are also a concern for the company moving forward [8]

Financial Data and Key Metrics Changes - The company reported gross revenue of $197.1 million for Q1 2025, slightly down from $220.1 million in Q1 2024 [27] - Net income for Q1 2025 was $37.7 million, leading to earnings per share of $1.04, compared to $60.1 million in Q1 2024 [28] - Adjusted EBITDA for Q1 2025 was $99.3 million, almost identical to $100.5 million in the previous year [29] - Total debt was reduced to approximately $1.7 billion, with a debt-to-capital ratio of 40.6% [29] Business Line Data and Key Metrics Changes - The fleet operated 62 vessels in Q1 2025, with 80% of fleet employment towards secure revenue contracts, up from 73% in Q1 2024 [25][26] - The fleet's pure spot exposure decreased from 19% to 18% year-over-year, while profit-sharing contracts increased the fleet's ability to capture market fit from 44% to 47% [26] - The company has extended or secured new business for 29 out of 62 vessels in the first half of the year [15] Market Data and Key Metrics Changes - The tanker market remains strong, with high demand for both new and older vessels, despite geopolitical uncertainties [10][11] - The company has seen a significant demand for time charter business from energy majors, indicating a robust market environment [17] Company Strategy and Development Direction - The company is focused on fleet renewal, divesting older vessels and replacing them with modern, energy-efficient ships [22] - There is an ongoing strategy to explore opportunities in underrepresented segments like VLCCs and LNG [13][32] - The company aims to maintain a healthy dividend while reducing debt and growing its business [29][44] Management's Comments on Operating Environment and Future Outlook - Management highlighted the challenges posed by geopolitical events but emphasized the company's ability to navigate these turbulent waters profitably [9][10] - The underlying market conditions are described as strong, with significant demand for vessels, even older ones [11][12] - The company believes its stock is undervalued compared to its net asset value and future income potential [14][56] Other Important Information - The company has a backlog of approximately $3.7 billion in future contracted revenue [17] - The fleet is transitioning to greener and dual-fuel vessels, with a focus on sustainability [22] Q&A Session Summary Question: What will the second quarter new build cost be? - The second quarter new build cost is expected to be just under $130 million, with additional payments scheduled [36][37] Question: Can you characterize the bid-ask in the S&P market for VLCCs? - The company is actively looking to build ships against clients and is monitoring the market for good quality vessels [41][42] Question: Will the company continue to sell older assets? - The company plans to sell at least half a dozen ships by the end of the year to enhance cash flow and support dividends [43] Question: What is the outlook for the second half dividend? - While specific guidance cannot be provided, the company hopes to maintain a similar dividend to the first half [44] Question: How can the company close the gap between stock price and NAV? - Management believes that demonstrating the company's industrial model and potential cash flows will help investors understand its value [45][56]

June 17, 2025 Q1 2025 Earnings Presentation TEN, Ltd. Capital Markets Access – Successful Countercyclical Growth $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $92m Fleet from 4 vessels in 1993 (start of Company – Oslo Stock Exchange) to 12 in 1996 1 yr VLCC TC Rates Iraq War Credit Crisis Preferred Shares Common Shares $125m $65m $88m 1993-1996 4 82 $130m + 22 46 $28m $105m $86m $50m $85m $50m _______________________________________________________________ $115m $35m Co ...

Core Points - The annual general meeting of shareholders of Arco Vara AS took place on 5 June 2025, where several key decisions were made regarding the company's financials and governance [1] - The company reported a net loss of EUR 624 thousand for the financial year ended 31 December 2024, and a dividend of EUR 0.02 per share was approved to be paid on 12 November 2025 [1] - The Supervisory Board members' terms were extended for five years, and the remuneration for the Chairman and regular members was set [1] - The share capital of Arco Vara AS will be increased by issuing 6,980,000 new ordinary shares at an issue price of EUR 2.5 per share, with specific allocations to certain investors [1] - The existing shareholders will not have pre-emptive rights for the newly issued shares, and the new shares will be eligible for dividends starting from the end of the subscription period [1] Financial Decisions - The annual report for 2024 was approved, and the net loss of EUR 624 thousand will be covered from retained earnings [1] - A dividend of EUR 0.02 per share will be distributed to shareholders, with the record date set for 5 November 2025 [1][3] - The new share capital will amount to EUR 12,157,856.90 following the issuance of new shares [1] Governance Changes - The principles of remuneration for the Management Board were approved, with the Chairman's remuneration set at EUR 5,000 net per month and regular members at up to EUR 500 per meeting [1] - The mandates of the Supervisory Board members were confirmed and extended [1] Share Issuance Details - The company will issue 6,980,000 new ordinary shares with a nominal value of EUR 0.7 per share, and the issue price will include a share premium [1] - Specific allocations for new shares were made to Alarmo Kapital OÜ, Luther Factory OÜ, and Luther Factory Holding OÜ, with total monetary contributions outlined [1] - The subscription period for the new shares is set for fourteen days from the resolution adoption, with the possibility of extension or cancellation of un-subscribed shares [1][2]