Declared Dividend • Aug 04
Third quarter dividend of US$0.66 announced Shareholders will receive a dividend of US$0.66. Ex-date: 21st August 2026 Payment date: 4th September 2026 Dividend yield will be 4.2%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is not adequately covered by earnings (99% earnings payout ratio). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 9.9% to bring the payout ratio under control. EPS is expected to grow by 72% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Jul 30
Third quarter 2026 earnings released: EPS: US$1.78 (vs US$2.58 in 3Q 2025) Third quarter 2026 results: EPS: US$1.78 (down from US$2.58 in 3Q 2025). Revenue: US$1.17b (down 1.3% from 3Q 2025). Net income: US$103.6m (down 31% from 3Q 2025). Profit margin: 8.8% (down from 13% in 3Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 3.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Jul 30
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 99% Dividend yield: 3.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$209m). Dividend is not well covered by earnings (99% payout ratio). Large one-off items impacting financial results. Tillkännagivande • Jul 29
The Scotts Miracle-Gro Company Approves Quarterly Cash Dividend, Payable on September 4, 2026 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on Friday, September 4, 2026, to shareholders of record as of Friday, August 21, 2026. Buy Or Sell Opportunity • Jul 07
Now 20% undervalued Over the last 90 days, the stock has risen 9.0% to €58.10. The fair value is estimated to be €72.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Board Change • Jun 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Board Member Emeritus John Vines was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jun 19
The Scotts Miracle-Gro Company Appoints Nick Miaritis as Executive Vice President and Chief Brand Officer The Scotts Miracle-Gro Company announced that Nick Miaritis has been named executive vice president and chief brand officer, a new position overseeing the Company’s brands and leading all its marketing strategies and initiatives. The appointment represents a strategic pivot in the Company's SMG 2.0 transformation into a premier outdoor lifestyle brand. Miaritis has deep experience with Fortune 500 brands, most recently as chief client officer at VaynerMedia, a global creative and media agency where he led brand partnerships, accelerated growth and developed new capabilities. He will report to President and Chief Operating Officer Nate Baxter. Miaritis is a marketing and brand leader known for building culturally relevant campaigns that blend creativity with business impact. Throughout his career, he has helped create some of the most talked-about and award-winning advertising of the past two decades. He is a graduate of Georgetown University. Declared Dividend • May 21
Second quarter dividend of US$0.66 announced Shareholders will receive a dividend of US$0.66. Ex-date: 22nd May 2026 Payment date: 5th June 2026 Dividend yield will be 4.9%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • May 01
the Scotts Miracle-Gro Company Reaffirms Earnings Guidance for the Fiscal 2026 The Scotts Miracle-Gro Company reaffirmed earnings guidance for the fiscal 2026. For the period, the company re-affirmed U.S. Consumer net sales low single-digit growth. Tillkännagivande • Apr 23
The Scotts Miracle-Gro Company to Report Q2, 2026 Results on Apr 29, 2026 The Scotts Miracle-Gro Company announced that they will report Q2, 2026 results Pre-Market on Apr 29, 2026 Tillkännagivande • Apr 21
The Scotts Miracle-Gro Company Announces Quarterly Cash Dividend, Payable on June 5, 2026 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a quarterly cash dividend of $0.66 per share. The dividend is payable on June 5, 2026, to shareholders of record as of May 22, 2026. Tillkännagivande • Mar 18
ScottsMiracle-Gro, Bonnie Plants And Gardenuity Launches Inspired To Gro Patio Garden Collection ScottsMiracle-Gro, Bonnie Plants and Gardenuity announced the launch of the Inspired to Gro Patio Garden Collection, a fully integrated gardening experience designed to help new and emerging gardeners grow successfully from day one. Inspired to Gro combines ScottsMiracle-Gro’s plant nutrients, Bonnie Plants’ fully rooted starter plants and Gardenuity’s guided gardening platform – including its curated container garden design, integrated growing components and personalized guidance platform – into a single product offering. This strategic collaboration between three leaders in the lawn and garden industry aims to remove the barriers that have historically prevented millions of interested consumers from starting and sustaining a garden. Inspired to Gro delivers everything needed to plant, grow and thrive in one seamless experience. While millions of Americans express interest in gardening, many struggle with where to begin or how to maintain success over time. Inspired to Gro addresses the barriers. Gardenuity was founded on the belief that gardening should be accessible to everyone, regardless of experience or space. Inspired to Gro removes the uncertainty that keeps so many people from starting by giving them the tools, plants and guided support they need to grow successfully from day one. The launch comes as consumers increasingly prioritize wellness, sustainability and fresh food access, fueling renewed interest in home gardening. Bonnie Plants, which has supplied vegetable and herb plants to American gardeners for more than a century, sees the collaboration as an important step in expanding access to gardening. For more than 100 years, Bonnie Plants has helped people grow their own food at home. Inspired to Gro builds on that legacy by making gardening more approachable and successful for more people. The collection features thoughtfully curated plant selections to support wellness, nourishment and enjoyment. The Inspired to Gro Patio Garden Collection includes three distinct offerings — Everyday Good Seasonal Herb Garden, Well Bloomed Limited Edition Edible Flower and Seasonal Herb Garden and Simply Rooted Seasonal Vegetable and Herb Garden. Inspired to Gro is now available on Amazon, Bonnieplants.com and Gardenuity.com with plans to expand to other ecommerce sites. Each Inspired to Gro garden includes: Gardenuity’s signature 5-gallon, double-stitched grow bag with reinforced handles for optimal root health and durability. Custom-blended soil, formulated specifically for container growing success. Four fully rooted Bonnie Plants selected and aligned to the consumer’s location and seasonal growing conditions. Miracle-Gro Pour & Feed Plant Food to provide essential nutrients to support plant growth and vitality. Grow Pro support from Gardenuity, including personalized guidance and weather-based garden notifications to help ensure ongoing success. Tillkännagivande • Feb 04
Miracle-Gro Introduces Refreshed Lineup of Their Indoor Soils and Plant Foods Miracle-Gro introduced a refreshed lineup of their indoor soils and plant foods. In addition, they are launching new plant care solutions, plus a brand new organic plant food item designed to make indoor gardening an approachable form of self-care, helping people nurture their homes while supporting their well-being. Research shows Americans are nearly twice as likely to report a decline in mood during the winter months (41%) than an improvement (22%). Indoor gardening offers a calming, screen-free way to restore routine, confidence and a sense of progress rooted in care and growth. With simple, intuitive solutions, Miracle-Gro's refreshed indoor assortment removes the guesswork from plant care, making it easy for anyone - from first-time plant parents to seasoned growers - to build a wellness habit that fits seamlessly into everyday life. The updated lineup features over 10 best-selling Miracle-Gro indoor products with clearer, easier-to-shop packaging, designed to reduce decision fatigue and help shoppers quickly find the right solution for their plants. In addition, two new plant care solutions designed to combat pesky insects while beautifying plants, and one new easy-to-use organic plant food solution. Highlights from the refreshed indoor portfolio & new items include: Miracle-Gro Indoor Potting Mixes: Tailored mixes for All Plants, Cactus & Succulent, Tropicals, Orchids and Seed Starting support healthier growth with less guesswork. Miracle-Gro Indoor Plant Foods: Easy-to-use liquid plant foods deliver essential nutrients for stronger, healthier indoor plants. The variety includes All Plants, Cactus &Succulent, Tropicals,Orchids and Plant Food Spikes for All Plants. Miracle-Gro Organic Indoor Plant Food: Made from 94% plant based fertilizer ingredients, this new organic plant food provides instant nourishment for healthier, more resilient plants (vs unfed plants when used as directed). Miracle-Gro Plant Care Flying insect Traps: A sleek, double-sided leaf shaped design that blends seamlessly into plants while quietly capturing flying insects before they can damage roots - protecting both plants and peace of mind. Miracle-Gro Plant Care Leaf Protect & Shine: Gentle on plants and tough on pests, this solution helps protect against common houseplant issues, while beautifying natural leaf shine. Products range from $4.97 - $17.99 and are available at scottsmiraclegro.com and select national retailers, including Amazon, Home Depot, Target and Walmart. Availability may vary by product and retailer. For specific tips and tricks on indoor gardening, you can visit the Miracle-Gro website for helpful blog posts. Tillkännagivande • Jan 29
The Scotts Miracle-Gro Company (NYSE:SMG) announces an Equity Buyback for $500 million worth of its shares. The Scotts Miracle-Gro Company (NYSE:SMG) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. The repurchase program has no time limit. Tillkännagivande • Jan 28
The Scotts Miracle-Gro Company Reaffirms Earnings Guidance for the Fiscal Year 2026 The Scotts Miracle-Gro Company reaffirmed earnings guidance for the fiscal year 2026. For the year, the company expects U.S. Consumer net sales low single-digit growth. Tillkännagivande • Jan 27
The Scotts Miracle-Gro Company Announces Quarterly Cash Dividend, Payable on March 6, 2026 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on March 6, 2026, to shareholders of record as of February 20, 2026. Tillkännagivande • Jan 20
The Scotts Miracle-Gro Company to Report Q1, 2026 Results on Jan 28, 2026 The Scotts Miracle-Gro Company announced that they will report Q1, 2026 results at 9:00 AM, Eastern Standard Time on Jan 28, 2026 Tillkännagivande • Dec 18
The Scotts Miracle-Gro Company, Annual General Meeting, Jan 26, 2026 The Scotts Miracle-Gro Company, Annual General Meeting, Jan 26, 2026. Tillkännagivande • Oct 23
The Scotts Miracle-Gro Company to Report Q4, 2025 Results on Nov 05, 2025 The Scotts Miracle-Gro Company announced that they will report Q4, 2025 results Pre-Market on Nov 05, 2025 Tillkännagivande • Aug 06
The Scotts Miracle-Gro Company Announces Changes to Board of Directors The Scotts Miracle-Gro Company announced changes to its Board of Directors. Former U.S. Army Lt. General John R. Vines announced his retirement after more than 12 years on the Board, most recently as a member of the Nominating & Governance and Innovation & Technology committees. His term was set to expire at the 2027 annual meeting of shareholders. Although he no longer is a member of the Board, he will maintain an advisory role as Board member emeritus. Vines served 35 years in the military, commanding the U.S. Army’s XVII Airborne Corps and 27-nation Multi-National Corps in Iraq and the Combined Joint Task Force and 82nd Airborne Division in Afghanistan. Replacing Vines is retired U.S. Army General Scott Miller, who commanded at all grades, most notably as commanding general of the U.S. Army Maneuver Center at Fort Benning and as commander of the Joint Special Operations Command, where he directed U.S. operations in complex geopolitical regions including the Indo-Pacific, Africa, Middle East and South Asia. He also commanded assault forces in Mogadishu, Somalia, during “Blackhawk Down.” His numerous decorations and honors include two awards of the coveted Combat Infantryman Badge, two Purple Hearts, the Silver Star and an unprecedented 20 Overseas Service Bars denoting more than 10 full years in combat zones. In 2023, he was selected as a distinguished graduate of the United States Military Academy and the recipient of the Richard M. Helms Award presented by the CIA Memorial Foundation. In retirement, Miller has pursued an understanding of business serving in both leadership roles and board positions. Through the Miller Advisory Group he consults overseas, speaks on world topics and hosts leadership retreats. He is a senior fellow for the Combating Terrorism Center at the U.S. Military Academy, where he mentors future leaders, and is an ambassador for the nonprofit Shields and Stripes, which is focused on veterans and first responders. Tillkännagivande • Jul 17
The Scotts Miracle-Gro Company to Report Q3, 2025 Results on Jul 30, 2025 The Scotts Miracle-Gro Company announced that they will report Q3, 2025 results at 9:00 AM, Eastern Standard Time on Jul 30, 2025 Tillkännagivande • Jun 05
The Scotts Miracle-Gro Company Reaffirms Earnings Guidance for the Full Fiscal Year 2025 The Scotts Miracle-Gro Company reaffirmed earnings guidance for the full fiscal year 2025. For the year, the company expects U.S. Consumer net sales low single-digit growth (excluding non-repeat sales for AeroGarden and bulk raw material sales). Tillkännagivande • Apr 22
The Scotts Miracle-Gro Company Declares Quarterly Dividend, Payable on June 6, 2025 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on June 6, 2025, to shareholders of record as of May 23, 2025. Tillkännagivande • Apr 17
The Scotts Miracle-Gro Company to Report Q2, 2025 Results on Apr 30, 2025 The Scotts Miracle-Gro Company announced that they will report Q2, 2025 results Pre-Market on Apr 30, 2025 Tillkännagivande • Apr 11
An undisclosed buyer acquired The Hawthorne Collective, Inc. from The Scotts Miracle-Gro Company (NYSE:SMG). An undisclosed buyer acquired The Hawthorne Collective, Inc. from The Scotts Miracle-Gro Company (NYSE:SMG) on April 10, 2025. Under terms of the deal, ScottsMiracle-Gro transferred The Hawthorne Collective to the strategic partner in exchange for an interest-bearing promissory note. The Company retains an option to reacquire The Hawthorne Collective or its assets should cannabis legalization and other measures to positively impact the industry be approved at the federal level.
An undisclosed buyer acquired The Hawthorne Collective, Inc. from The Scotts Miracle-Gro Company (NYSE:SMG) on April 10, 2025. Tillkännagivande • Mar 06
the Scotts Miracle-Gro Company Appoints Martha Stewart as Chief Gardening Officer The Scotts Miracle-Gro Company announced that lifestyle and gardening expert Martha Stewart has joined Miracle-Gro as Chief Gardening Officer. A self-proclaimed 'Dirt Nerd,' Martha is inherently aligned with the mission of Miracle-Gro to get more Americans outside in their gardens and cultivate creativity with their dirt canvases. Martha Stewart will expand her role as the face of the "Gro Like Martha" campaign by collaborating with Miracle-Gro on exclusive content for Miracle-Gro platforms. This new content series, called "GROwing with Martha Stewart," will feature monthly videos, newsletters, and a downloadable calendar with Martha's product recommendations and gardening insights for all skill levels. Additionally, Martha has a new Gardening Handbook set to release on March 18. As Miracle-Gro's Chief Gardening Officer, Martha will serve as a strategic advisor with an eye toward the future of the brand, providing insights based on her experience and acumen in both business and the garden. Tillkännagivande • Mar 04
The Scotts Miracle-Gro Company Appoints Jim Safka as Senior Vice President of Ecommerce The Scotts Miracle-Gro Company announced that Jim Safka has been named senior vice president of ecommerce. Safka is an accomplished executive with extensive and pioneering experience in technology, marketing and management. He previously served as CEO of Match.com, which grew by more than 20% annually under his leadership. He also ran AT&T Wireless’s ecommerce platform, where under his leadership the digital channel generated significant revenue and profitability increases. Previously, he was CEO of Ask.com, ran a venture portfolio and held key product and marketing roles at E-Trade and Intuit. Most recently, Safka was chief marketing officer at CapConnect+, a financial technology company whose digital marketplace simplifies fixed income issuing and investing. Safka holds a bachelor’s degree from the University of Southern California and earned his master’s in management and marketing from the Kellogg School of Management at Northwestern University. Tillkännagivande • Feb 01
The Scotts Miracle-Gro Company Appoints Nick Miaritis to Board of Directors The Scotts Miracle-Gro Company announced that Nick Miaritis has been named to its Board of Directors. Miaritis is chief client officer at VaynerMedia, a global creative and media agency, where he leads brand partnerships, accelerates growth opportunities and develops new capabilities. With a passion for crafting culturally relevant content for Fortune 500 brands, he infuses every project with his unique creative vision and strategic edge. Since joining VaynerMedia, he has created leading campaigns, such as Duracell’s “I Buy My Own Batteries” and Planters “Death of Mr. Peanut." Miaritis, a graduate of Georgetown University, is co-founder of the trivia app, FleetWit, and is an advisor to the payments platform Prizeout. He fills the Board seat previously held by Tom Kelly, who retired January 31, 2025, after nearly 20 years as a Board member. Kelly most recently chaired the innovation committee, where he helped guide product strategy and development. The appointment of Miaritis reflects the Board’s focus on adding expanded skills and experiences for fresh perspectives and viewpoints. He is the fifth appointment to the Board since 2022, joining fellow Board members Robert Candelino, Mark Kingdon, Brian Sandoval and Edith Avilés. Tillkännagivande • Jan 28
the Scotts Miracle-Gro Company Announces Quarterly Dividend, Payable on March 7, 2025 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The
dividend is payable on March 7, 2025, to shareholders of record as of February 21, 2025. Tillkännagivande • Jan 15
The Scotts Miracle-Gro Company to Report Q1, 2025 Results on Jan 29, 2025 The Scotts Miracle-Gro Company announced that they will report Q1, 2025 results Pre-Market on Jan 29, 2025 Tillkännagivande • Dec 20
The Scotts Miracle-Gro Company, Annual General Meeting, Jan 27, 2025 The Scotts Miracle-Gro Company, Annual General Meeting, Jan 27, 2025. Declared Dividend • Nov 11
Fourth quarter dividend of US$0.66 announced Shareholders will receive a dividend of US$0.66. Ex-date: 22nd November 2024 Payment date: 6th December 2024 Dividend yield will be 3.7%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (26% cash payout ratio). The dividend has increased by an average of 4.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 07
Full year 2024 earnings released: US$0.61 loss per share (vs US$6.79 loss in FY 2023) Full year 2024 results: US$0.61 loss per share (improved from US$6.79 loss in FY 2023). Revenue: US$3.55b (flat on FY 2023). Net loss: US$34.9m (loss narrowed 91% from FY 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 23
The Scotts Miracle-Gro Company to Report Q4, 2024 Results on Nov 06, 2024 The Scotts Miracle-Gro Company announced that they will report Q4, 2024 results Pre-Market on Nov 06, 2024 Upcoming Dividend • Aug 19
Upcoming dividend of US$0.66 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 06 September 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.4%). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.9% average weekly change). New Risk • Aug 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Aug 02
Third quarter 2024 earnings released: EPS: US$2.33 (vs US$0.78 in 3Q 2023) Third quarter 2024 results: EPS: US$2.33 (up from US$0.78 in 3Q 2023). Revenue: US$1.20b (up 7.5% from 3Q 2023). Net income: US$132.1m (up 202% from 3Q 2023). Profit margin: 11% (up from 3.9% in 3Q 2023). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 31
The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment, Payable on September 6, 2024 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on September 6, 2024, to shareholders of record as of August 23, 2024. Buy Or Sell Opportunity • Jul 17
Now 21% overvalued Over the last 90 days, the stock has fallen 3.8% to €60.38. The fair value is estimated to be €50.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company became loss making. Tillkännagivande • Jun 09
Robbins Geller Rudman & Dowd LLP Announces The Scotts Miracle-Gro Company Investors with Substantial Losses Have Opportunity to Lead the Scotts Miracle-Gro Class Action Lawsuit Robbins Geller Rudman & Dowd LLP announced that purchasers of The Scotts Miracle-Gro Company common stock between November 3, 2021 and August 1, 2023, inclusive (the “Class Period”), have until August 5, 2024 to seek appointment as lead plaintiff of the Scotts Miracle-Groclass action lawsuit. Captioned City of Hialeah Employees’ Retirement System v. The Scotts Miracle-Gro Company, No. 24-cv-03132 (S.D. Ohio), the Scotts Miracle-Groclass action lawsuit charges Scotts Miracle-Gro and certain of Scotts Miracle-Gro’s top current and former executives with violations of the Securities Exchange Act of 1934. Case Allegations: Scotts Miracle-Gro produces various lawn, garden, and agricultural products for both consumer and professional purposes. The Scotts Miracle-Gro class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Scotts Miracle-Gro had an oversupply of inventory that far exceeded consumer demand; and (ii) Scotts Miracle-Gro executives engaged in a scheme to saturate Scotts Miracle-Gro’s sales channel with more product than those retailers could sell through to end users, a practice that required Scotts Miracle-Gro sales personnel to pressure retailers to purchase more inventory than they wanted or needed. The Scotts Miracle-Gro class action lawsuit further alleges that on June 8, 2022, Scotts Miracle-Gro admitted that replenishment orders from its U.S. retailers were more than $300 million below target in the month of May alone, 2022 full-year earnings would be roughly half of Scotts Miracle-Gro’s prior guidance, and Scotts Miracle-Gro would take on additional debt to cover restructuring charges as it attempted to cut costs. On this news, the price of Scotts Miracle-Gro stock fell nearly 9%, according to the complaint. Then, on August 2, 2023, the Scotts Miracle-Groclass action lawsuit further alleges that Scotts Miracle-Gro disclosed that: (i) it had modified its debt covenants to permit a 7.00 times debt-to-EBITDA ratio, from the original covenant that only permitted a 6.25 times debt-to-EBITDA ratio; (ii) quarterly sales for Scotts Miracle-Gro’s third quarter had declined by 6% and gross margins fell by 420 basis points; and (iii) Scotts Miracle-Gro slashed fiscal year EBITDA guidance by 25% and announced it had to take a $20 million write down for “pandemic driven excess inventories.” On this news, the price of Scotts Miracle-Gro stock fell more than 19%, according to the complaint. The Lead Plaintiff Process: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Scotts Miracle-Gro common stock during the Class Period to seek appointment as lead plaintiff in the Scotts Miracle-Groclass action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Scotts Miracle-Groclass action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Scotts Miracle-Groclass action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Scotts Miracle-Groclass action lawsuit. Upcoming Dividend • May 16
Upcoming dividend of US$0.66 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 07 June 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%). Reported Earnings • May 02
Second quarter 2024 earnings released: EPS: US$2.77 (vs US$1.95 in 2Q 2023) Second quarter 2024 results: EPS: US$2.77 (up from US$1.95 in 2Q 2023). Revenue: US$1.53b (flat on 2Q 2023). Net income: US$157.5m (up 44% from 2Q 2023). Profit margin: 10% (up from 7.1% in 2Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Declared Dividend • Apr 29
First quarter dividend of US$0.66 announced Shareholders will receive a dividend of US$0.66. Ex-date: 23rd May 2024 Payment date: 7th June 2024 Dividend yield will be 4.0%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (29% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Tillkännagivande • Apr 23
The Scotts Miracle-Gro Company Announces Quarterly Dividend, Payable on June 7, 2024 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of quarterly cash dividend of $0.66 per share. The dividend is payable on June 7, 2024, to shareholders of record as of May 24, 2024. Tillkännagivande • Apr 05
The Scotts Miracle-Gro Company to Report Q2, 2024 Results on May 01, 2024 The Scotts Miracle-Gro Company announced that they will report Q2, 2024 results on May 01, 2024 Upcoming Dividend • Feb 16
Upcoming dividend of US$0.66 per share at 4.4% yield Eligible shareholders must have bought the stock before 22 February 2024. Payment date: 08 March 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.0%). Reported Earnings • Feb 08
First quarter 2024 earnings released: US$1.42 loss per share (vs US$1.17 loss in 1Q 2023) First quarter 2024 results: US$1.42 loss per share (further deteriorated from US$1.17 loss in 1Q 2023). Revenue: US$410.4m (down 22% from 1Q 2023). Net loss: US$80.5m (loss widened 24% from 1Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jan 31
The Scotts Miracle-Gro Company Announces Retirement of Nancy Mistretta from Board of Directors The Scotts Miracle-Gro Company announced that Nancy Mistretta has retired from its Board of Directors. Mistretta has been a director since 2007 and served on various Board committees, most recently as a member of the Audit Committee and the Compensation and Organization Committee. Tillkännagivande • Jan 30
The Scotts Miracle-Gro Company to Report Q1, 2024 Results on Feb 07, 2024 The Scotts Miracle-Gro Company announced that they will report Q1, 2024 results Pre-Market on Feb 07, 2024 Declared Dividend • Jan 29
Fourth quarter dividend of US$0.66 announced Shareholders will receive a dividend of US$0.66. Ex-date: 22nd February 2024 Payment date: 8th March 2024 Dividend yield will be 4.8%, which is lower than the industry average of 6.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (34% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Tillkännagivande • Jan 23
The Scotts Miracle-Gro Company Approves Quarterly Dividend, Payable on March 8, 2024 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on March 8, 2024, to shareholders of record as of February 23, 2024. New Risk • Dec 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.1% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Significant insider selling over the past 3 months (€4.1m sold). Tillkännagivande • Dec 14
The Scotts Miracle-Gro Company, Annual General Meeting, Jan 22, 2024 The Scotts Miracle-Gro Company, Annual General Meeting, Jan 22, 2024, at 09:00 US Eastern Standard Time. Agenda: To consider election of four directors, each to serve for a term of three years to expire at the 2027 annual meeting of shareholders; to consider approval on an advisory basis, of the compensation of the company's named executive officers; to consider ratification of selection of Deloitte & Touche LLP as the company's independent registered public for the fiscal year ending September 30, 2024; and to consider other matters. New Risk • Nov 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.0% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Significant insider selling over the past 3 months (€4.1m sold). Upcoming Dividend • Nov 18
Upcoming dividend of US$0.66 per share at 4.6% yield Eligible shareholders must have bought the stock before 24 November 2023. Payment date: 08 December 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.1%). Tillkännagivande • Nov 17
The Scotts Miracle-Gro Company Announces Executive Changes On September 27, 2023, The Scotts Miracle-Gro Company announced that Denise Stump, the Company’s former Executive Vice President, Global Human Resources and Chief Ethics Officer, would be departing the Company on October 1, 2023 (the “Termination Date”). On November 12, 2023, in connection with Ms. Stump’s departure, The Scotts Company LLC, a subsidiary of the Company (“Scotts LLC”), entered into a Separation Agreement and Release of All Claims (the “Separation Agreement”) with Ms. Stump. The Separation Agreement addresses the payments and benefits to which Ms. Stump is entitled in connection with her departure. Recent Insider Transactions • Nov 07
President recently sold €4.0m worth of stock On the 3rd of November, James Hagedorn sold around 81k shares on-market at roughly €49.37 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. James has been a net seller over the last 12 months, reducing personal holdings by €8.3m. New Risk • Nov 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (8.7% average weekly change). Minor Risks Paying a dividend despite being loss-making. Significant insider selling over the past 3 months (€2.8m sold). Reported Earnings • Nov 01
Full year 2023 earnings released: US$6.79 loss per share (vs US$7.88 loss in FY 2022) Full year 2023 results: US$6.79 loss per share (improved from US$7.88 loss in FY 2022). Revenue: US$3.55b (down 9.5% from FY 2022). Net loss: US$380.1m (loss narrowed 13% from FY 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Tillkännagivande • Nov 01
The Scotts Miracle-Gro Company Announces Quarterly Cash Dividend, Payable on December 8, 2023 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on December 8, 2023, to shareholders of record as of November 27, 2023. Tillkännagivande • Aug 29
The Scotts Miracle-Gro Company Announces Executive Changes The Scotts Miracle-Gro Company announced that it is executing a succession plan for President and COO Mike Lukemire in preparation for his retirement in fiscal 2024. Under the plan approved by the Board of Directors and agreed upon by Lukemire and Chairman and CEO Jim Hagedorn, Lukemire will step down as COO on September 3, 2023, and retain his position as president until his retirement. In a related move, Nate Baxter, 50, executive vice president of technology &operations, will be promoted to chief operating officer on September 4, 2023, reporting to Lukemire, who will mentor Baxter during a transition period. Lukemire, 65, has been with the Company for almost 28 years, serving as president since February 2016 and COO since January 2015. Baxter joined the Company on April 28, 2023, to oversee research and development, information technology, regulatory, quality and environmental health and safety. In his new role, he additionally will be responsible for supply chain, sales and marketing. He previously was president of TEL U.S., a Tokyo Electron Ltd. subsidiary that manufactures semiconductor and flat panel manufacturing equipment, where he led development, production, sales and marketing. He also worked with Intel Corporation in technology, supply chain, strategy and management. He has undergraduate and advanced degrees from Rollins College and Georgia Institute of Technology, respectively, and is a general partner of the Hagedorn Partnership, L.P. Upcoming Dividend • Aug 17
Upcoming dividend of US$0.66 per share at 5.3% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 08 September 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.0%). Recent Insider Transactions • Aug 08
CEO & Chairman of the Board recently sold €2.8m worth of stock On the 7th of August, James Hagedorn sold around 55k shares on-market at roughly €51.18 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. James has been a net seller over the last 12 months, reducing personal holdings by €4.4m. Reported Earnings • Aug 03
Third quarter 2023 earnings released: EPS: US$0.78 (vs US$8.01 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.78 (up from US$8.01 loss in 3Q 2022). Revenue: US$1.12b (down 5.7% from 3Q 2022). Net income: US$43.7m (up US$487.6m from 3Q 2022). Profit margin: 3.9% (up from net loss in 3Q 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 03
The Scotts Miracle-Gro Company Provides Earnings Guidance for the Full Year 2023 The Scotts Miracle-Gro Company provided earnings guidance for the full year 2023. For the period, the company expects total net sales to decline approximately 10% to 11% mainly driven by a net sales decline in the U.S. Consumer segment of 2% to 4% and a net sales decline of 30% to 35% in the Hawthorne segment. Additionally, operating income is expected to range from 7% to 7.5% of sales for the year. Tillkännagivande • Aug 02
The Scotts Miracle-Gro Company Announces Quarterly Cash Dividend, Payable on September 8, 2023 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on September 8, 2023, to shareholders of record as of August 25, 2023. Tillkännagivande • Jul 23
The Scotts Miracle-Gro Company to Report Q3, 2023 Results on Aug 02, 2023 The Scotts Miracle-Gro Company announced that they will report Q3, 2023 results Pre-Market on Aug 02, 2023 Tillkännagivande • Jul 15
The Scotts Miracle-Gro Company Announces Board Changes The Scotts Miracle-Gro Company announced that Mark D. Kingdon has been named to its Board of Directors. Kingdon has held senior executive positions ranging from president and CEO to founder of companies in the consumer, technology and digital spaces, among others. He has experience in finance, marketing, branding, innovation, business transformation and emerging technologies with a track record of achieving groundbreaking results. Kingdon is founder of Quixotic Ventures, which invests in early stage consumer internet companies, and held board seats with TheRealReal.com, SAY Media Inc., Linden Lab and Organic Inc. as well as several nonprofits, such as Miami’s New World Symphony. He previously was CEO of Linden Lab (developer of Second Life - the early metaverse) and Organic Inc. He also was a managing partner at PwC, where he ran the retail and distribution industries consulting practice for the Americas. He holds an MBA from the Wharton School of Business, University of Pennsylvania, and a Bachelor of Arts in Economics from the University of California, Los Angeles. Kingdon succeeds Gerald Volas, who resigned from the Board. Tillkännagivande • Jun 25
The Scotts Miracle-Gro Company(NYSE:SMG) dropped from Russell 1000 Value Index The Scotts Miracle-Gro Company(NYSE:SMG) dropped from Russell 1000 Value Index Upcoming Dividend • May 18
Upcoming dividend of US$0.66 per share at 3.8% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 09 June 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Recent Insider Transactions • May 16
CEO & Chairman of the Board recently sold €1.5m worth of stock On the 12th of May, James Hagedorn sold around 25k shares on-market at roughly €61.69 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Reported Earnings • May 03
Second quarter 2023 earnings released: EPS: US$1.95 (vs US$4.98 in 2Q 2022) Second quarter 2023 results: EPS: US$1.95 (down from US$4.98 in 2Q 2022). Revenue: US$1.53b (down 8.8% from 2Q 2022). Net income: US$109.4m (down 60% from 2Q 2022). Profit margin: 7.1% (down from 17% in 2Q 2022). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Feb 19
Insider recently sold €203k worth of stock On the 16th of February, Denise Stump sold around 3k shares on-market at roughly €81.05 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.1m more than they bought in the last 12 months. Upcoming Dividend • Feb 16
Upcoming dividend of US$0.66 per share at 3.2% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 10 March 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.2%). Recent Insider Transactions • Feb 10
Independent Director recently sold €70k worth of stock On the 7th of February, Stephen Johnson sold around 935 shares on-market at roughly €75.25 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €194k. Insiders have been net sellers, collectively disposing of €7.9m more than they bought in the last 12 months. Reported Earnings • Feb 02
First quarter 2023 earnings released: US$1.17 loss per share (vs US$0.90 loss in 1Q 2022) First quarter 2023 results: US$1.17 loss per share (further deteriorated from US$0.90 loss in 1Q 2022). Revenue: US$526.6m (down 7.0% from 1Q 2022). Net loss: US$64.7m (loss widened 29% from 1Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jan 24
The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment, Payable on, March 10, 2023 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on, March 10, 2023, to shareholders of record as of February 24, 2023. Tillkännagivande • Jan 19
The Scotts Miracle-Gro Company to Report Q1, 2023 Results on Feb 01, 2023 The Scotts Miracle-Gro Company announced that they will report Q1, 2023 results Pre-Market on Feb 01, 2023 Tillkännagivande • Dec 15
The Scotts Miracle-Gro Company, Annual General Meeting, Jan 23, 2023 The Scotts Miracle-Gro Company, Annual General Meeting, Jan 23, 2023, at 09:00 US Eastern Standard Time. Agenda: To elect four directors, each to serve for a three-year term expiring at the 2026 Annual Meeting of Shareholders; to conduct an advisory vote on the compensation of the Company's named executive officers; to ratify the selection of Deloitte & Touche LLP as the company's independent registered public accounting firm for the fiscal year ending September 30, 2023; to approve an amendment and restatement of company Long-Term Incentive Plan to, among other things, increase the maximum number of common shares available for grant to participants; and to consider the other matter. Recent Insider Transactions • Dec 01
Executive VP & Director recently sold €86k worth of stock On the 29th of November, David Evans sold around 2k shares on-market at roughly €51.92 per share. This transaction amounted to 89% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €194k. Insiders have been net sellers, collectively disposing of €7.8m more than they bought in the last 12 months. Reported Earnings • Nov 30
Full year 2022 earnings released: US$7.88 loss per share (vs US$9.27 profit in FY 2021) Full year 2022 results: US$7.88 loss per share (down from US$9.27 profit in FY 2021). Revenue: US$3.92b (down 20% from FY 2021). Net loss: US$437.5m (down 185% from profit in FY 2021). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Nov 22
Independent Director recently sold €194k worth of stock On the 18th of November, Stephen Johnson sold around 4k shares on-market at roughly €54.50 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €7.8m more than they bought in the last 12 months. Upcoming Dividend • Nov 18
Upcoming dividend of US$0.66 per share Eligible shareholders must have bought the stock before 25 November 2022. Payment date: 09 December 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.4%). Tillkännagivande • Nov 08
The Scotts Miracle-Gro Company Announces Executive Changes The Scotts Miracle-Gro Company announced that its Board of Directors has nominated Edith Avilés to stand for election to the Board at the upcoming 2023 Annual Meeting of Shareholders. Ms. Avilés has over 30 years of experience in the finance industry, where she has cultivated key relationships and executed growth strategies to deliver strong financial performance across complex global organizations. Currently, she is a managing director in the global investor relations team at Clayton Dubilier & Rice. She previously held leadership roles at Natixis, most recently serving as vice chair of the Americas. Before that, she held senior positions at BNP Paribas and Chase Manhattan Corporation (now JP Morgan Chase). Ms. Avilés is being nominated to succeed Brian Finn, who has decided to retire from the Board at the end of his term at the 2023 Annual Meeting to focus on his family and other interests. Tillkännagivande • Nov 05
the Scotts Miracle-Gro Company Announces Quarterly Dividend Payment, Payable on December 9, 2022 The Scotts Miracle-Gro Company announced that its Board of Directors has approved the payment of a cash dividend of $0.66 per share. The dividend is payable on December 9, 2022, to shareholders of record as of November 28, 2022.