Stock Analysis: Sempra Energy (NYSE:SRE) increases dividend 6%, to 70c; Zillow (NASDAQ:Z), Sotheby’s (NYSE:BID)

The board of Sempra Energy (NYSE:SRE)  has approved a 6% increase in the dividend on shares of the company's common stock to $2.80 per share, on an annualized basis, from $2.64 per share. The first quarterly installment of the new dividend, 70c per share, is payable April 15 to shareholders of record on March 27. Similarly, St. Jude Medical  has also declared a 7% increase in the company’s quarterly dividend to 29c per common share. The dividend is payable April 30 to shareholders of record on March 31. At the new rate, the annual dividend would be $1.16 per share, compared to the previous annual dividend of $1.08 per share.

 

Zillow (NASDAQ:Z) wants to maintain ListHub listings on Trulia, sues. GeekWire has reported that ListHub, which is owned by News Corp. (NWSA) since it acquired Realtor.com operator Move last year, said it would terminate an agreement with Trulia after the company was bought by (NASDAQ:Z)  and plans to cease providing listing information to Trulia on February 26. Now, Zillow has filed for a restraining order. Trulia President Paul Levine said to GeekWire: "News Corp’s decision is incredibly unfair to home sellers and their agents who depend on Trulia to market their listings. Today, we are taking the necessary steps to obtain a temporary restraining order to ensure that there’s no disruption to their marketing activities or businesses."

 

Marcato filing confirms request for Sotheby's (NYSE:BID) buyback, potential CFO search. Marcato Capital Management  has reported a 9.53% stake in Sotheby's (NYSE:BID)  and disclosed in a regulatory filing that it sent a letter to the company's board. In its letter, Marcato states: "In the 18 months since Marcato’s initial investment in Sotheby’s, we have outlined numerous opportunities both publicly and privately for Sotheby’s to use its capital more intelligently to create shareholder value. Despite our dialogue with you and other members of the board, a substantial portion of Sotheby’s invested capital continues to earn a poor return or worse yet, earns no return at all...We submit that any new CEO’s first order of business may need to include the recruitment of a new CFO who will serve the interests of shareholders rather than defend misguided policies of the past..."