5 Companies that Just Started Paying Dividends

4. Viatris Inc. (NASDAQ:VTRS)

Dividend Yield as of March 2: 4.24%

Viatris Inc. (NASDAQ:VTRS) is an American pharmaceutical company that was formed through the combination of Mylan and Upjohn in 2020. In February, Barclays raised its price target on the stock to $16 with an Overweight rating on the shares, highlighting the company’s strong revenue outlook for 2023.

Viatris Inc. (NASDAQ:VTRS) started its dividend policy in February 2021 and has raised its dividend once since then. The company offers a quarterly dividend of $0.12 per share and has a dividend yield of 4.24%, as of March 2.

At the end of Q4 2022, 47 hedge funds tracked by Insider Monkey were long Viatris Inc. (NASDAQ:VTRS), compared with 50 a quarter earlier. The stakes owned by these hedge funds are valued at $1.42 billion collectively.

Miller Value Partners mentioned Viatris Inc. (NASDAQ:VTRS) in its Q4 2022 investor letter. Here is what the firm has to say:

“Viatris Inc. (NASDAQ:VTRS) gained after reporting 3Q22 net sales of $4.07B, -10.0% Y/Y (-1% operationally), below consensus of $4.14B, and Adjusted EBITDA of $1.50B (36.8% margin), ahead of consensus of $1.44B. Free cash flow (FCF) for the quarter came in at $765.1MM, which brings trailing twelve-month (TTM) FCF to $2.88B, or a FCF yield of 22.9%. Viatris paid down ~$614MM of debt in the quarter, bringing YTD debt reduction to ~$2.1B, in-line with the company’s previously stated target of reducing debt by ~$6.5B between 2021-2023. Additionally, the company announced the acquisitions of two Ophthalmology (eyecare) companies, Oyster Point Pharma and Famy Life Sciences, for an aggregate purchase price of ~$700-750MM, with management expecting these transactions to add at least $1B in sales and $500MM in Adjusted EBITDA to Viatris by 2028.”