BOSTON ( TheStreet) -- Herbalife (HLF - Get Report) shares were rallying Tuesday after the nutritional supplement company announced a 25% increase to its quarterly dividend and offered strong full-year earnings guidance.
late Monday said it has raised its quarterly dividend to 25 cents from 20 cents, boosting the yield to 1.86% from 1.49% previously. The new cash dividend will be payable on Aug. 26 to shareholders of record on Aug. 12.
Herbalife's dividend increase came as the company said it had second-quarter earnings of $1.32 a share on sales of $688.8 million, blowing past the Thomson Reuters average estimate for earnings of 93 cents a share and revenue of $644.7 million. Looking ahead, Herbalife said it expects full-year earnings of $4.30 to $4.40 a share, above the consensus estimate of $3.90 a share.
Shares of Herbalife rallied by $4.71, or 9.6%, to $53.90. More than 542,000 shares changed hands an hour into the trading session, compared with the average daily share volume of 417,000.
(STE - Get Report)
shares inched higher after the surgical products company raised its quarterly dividend to 15 cents from 11 cents per share, an increase of 36%. The dividend is payable Sept. 21 to shareholders of record at the close of business on Aug. 2.
The dividend announcement came as Steris reported a first-quarter profit of 46 cents a share, coming in a penny above the Thomson Reuters average estimate. However, revenue of $291.3 million was below the consensus estimate of $299.4 million. Steris also reaffirmed its full-year earnings guidance range of $2 to $2.30 a share, which is in line with Wall Street's average forecast.
Shares of Steris were lately up 16 cents, or 0.5%, to $32.28.
(WTI - Get Report)
said late Monday that it has increased its quarterly cash dividend to 4 cents from 3 cents per share. The new dividend will be payable on Sept. 10 to the shareholders of record on Aug. 20. W&T Offshore shares were climbing by 55 cents, or 5.9%, to $9.91.
In other dividend news,
(BKMU - Get Report)
shares fell by 1.5% to $5.85 after the company declared a quarterly cash dividend of 3 cents per share, down from its previous dividend payment of 7 cents per share. Bank Mutual Chairman and CEO Michael Crowley said the dividend rate comes after "continued focus of regulators and lawmakers on the earnings and capital levels of financial institutions."
-- Written by Robert Holmes in Boston
Follow Robert Holmes on
and become a fan of TheStreet.com on