This week's shift in the Fed easing narrative just changed the math on three income names sitting right in front of earnings season. One has raised its payout 54 years running, one is the cleanest way to play the coming cut cycle, and one has a habit of surprising you with a year-end bonus check. You want to be positioned before the calendar catches up.

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Alphabet Just Avoided a Breakup of One of Its Most Important Advertising Businesses

Alphabet Inc. (NASDAQ: GOOGL) has defeated the Justice Department’s attempt to force a sale of AdX, its advertising exchange. A federal judge instead chose behavioral remedies after previously finding Google held illegal monopolies in parts of the online ad-tech market.

For Alphabet, your attention belongs on what stays intact. AdX connects publishers and advertisers inside a broader advertising system, so avoiding a forced divestiture preserves an important link rather than creating a separate company.

A Breakup Would Have Gone Much Further

The DOJ had argued that selling AdX was necessary to restore competition and reduce Google’s control over publishers. Judge Leonie Brinkema rejected that structural remedy while accepting most proposed restrictions on how Google operates the business.

If you own a business built heavily around advertising, keeping the pieces together matters. Alphabet can continue operating AdX alongside the rest of its ad technology while adjusting practices the court considers problematic.

Alphabet Keeps More Strategic Control

The ruling does not erase Google’s antitrust problems, and behavioral restrictions still create limits. It does, however, remove the immediate threat of losing AdX through a court-ordered sale.

That distinction gives you the bigger company takeaway. Alphabet still faces regulatory pressure, but it has avoided one of the harshest possible outcomes, allowing a major advertising asset to remain inside the company.

(GOOGL currently trades at $336.00 and pays a dividend of $0.88 per share, a yield of 0.26%.)

Corporate

Apple Puts John Ternus in Charge of a $4.5 Trillion Technology Giant

Apple Inc. (NASDAQ: AAPL) has officially entered a new leadership era, with John Ternus taking over from Tim Cook after 15 years at the top. Cook remains executive chairman, while Ternus inherits a technology company valued at roughly $4.5 trillion.

Look at what Ternus inherits, and you get a company vastly larger than the one Cook took over in 2011. Services, wearables, custom chips, and a broader device ecosystem now sit alongside the iPhone as major parts of Apple.

Hardware Experience Meets an AI Challenge

Ternus spent years leading Apple’s hardware engineering, putting him close to products including the iPhone, Mac, and iPad. His first major product event as CEO arrives September 9, with another iPhone generation expected.

The devices already sitting in your daily routine explain why AI matters so much. Apple has an enormous installed base, but turning that hardware reach into a stronger AI platform is now one of management’s biggest strategic jobs.

The Next Apple Has to Be Built

Cook transformed Apple through supply-chain discipline, services growth, and enormous scale, but the company enters its new leadership era under pressure to accelerate innovation in AI.

Over the next few product cycles, you will have a clearer measure of Ternus than the CEO title itself. His challenge is turning Apple’s hardware advantage into the foundation for its next major growth phase.

(AAPL currently trades at $324 and pays a dividend of $1.08 per share, a yield of 0.33%.)

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Consumer

Kimberly-Clark’s $40 Billion Kenvue Deal Just Cleared Another Major Hurdle

Kimberly-Clark Corporation (NASDAQ: KMB) has received conditional approval from Australia’s competition regulator for its roughly $40 billion acquisition of Kenvue, moving one of the largest consumer-health deals closer to completion.

The approval requires Carefree and Stayfree to be divested in Australia, but the larger transaction remains intact. Once completed, Kimberly-Clark would move far beyond its traditional strength in tissues, diapers, and personal care.

Kenvue Brings a Different Kind of Portfolio

Kenvue owns brands including Tylenol, Band-Aid, Listerine, Neutrogena, and Aveeno, giving Kimberly-Clark immediate positions across pain relief, skin care, oral care, and wound care.

If you still think of Kimberly-Clark mainly through Kleenex and Huggies, the combined company will look considerably different.

The Scale Changes Quickly

Together, the businesses are expected to generate roughly $32 billion in annual sales and own 10 brands producing more than $1 billion each.

Products already sitting around your home help explain the appeal. 

Kimberly-Clark would gain access to frequently purchased categories across pharmacies, supermarkets, and mass retailers worldwide.

Another Regulatory Obstacle Is Gone

Shareholders have already approved the combination, while remaining regulatory reviews continue ahead of the planned 2026 closing. Once Kenvue joins the business, you get a broader consumer-products company with a much stronger health-care presence and far less dependence on its traditional categories.

(KMB currently trades at $107 and pays a dividend of $5.12 per share, a yield of 4.75%.)

Dividend Stocks Worth Watching

Kimberly-Clark (NASDAQ: KMB). Consumer staples doesn't sound exciting, but Kimberly-Clark makes the tissues, diapers, and personal care brands that sit in nearly every household, hospital, and hotel room in the country- the kind of demand that doesn't disappear. The board declared a $1.28 quarterly dividend with an ex-date of September 4 and payment on October 2, extending a streak of 54 consecutive annual increases.

Fifth Third Bancorp (NASDAQ: FITB). Regional banks got beaten up in 2024, drifted through 2025, and are now positioned as the biggest beneficiaries of a Fed easing cycle. Fifth Third has one of the cleanest deposit franchises in the group, and the trailing yield sits north of 3%. Q3 earnings land in mid-October. If you want to front-run the rate cut narrative without stretching for yield, this is where you look.

Old Republic International (NYSE: ORI). Boring insurer, thrilling dividend history. ORI pays a regular quarterly dividend and has a habit of dropping special dividends late in the year when book value cooperates. Trailing yield is around 3% before you count those extras. Q3 results in late October will tell you whether a 2026 special is on the table. This is a name you buy for consistency, not fireworks.

Dividend Increases

Nordson (NDSN) raised its quarterly dividend 15% to $0.94, payable October 2 to holders of record on September 10.

Union Pacific (UNP) lifted its quarterly payout 3% to $1.42, payable September 30 to record holders as of August 31.

Brady (BRC) continues its long consecutive streak of annual dividend increases, with the current confirmed payout at $0.98 per share.

Phillips Edison (PECO) boosted its monthly distribution 6.2% to $0.115 per share, effective September through November 2026.

Dividend Decreases

Wendy's (WEN) cut its quarterly dividend 50% to $0.07 per share, payable September 15.

Embecta (EMBC) slashed its quarterly dividend 93% to $0.01 per share to fund the Owen Mumford acquisition, payable September 15.

PennantPark Floating Rate Capital (PFLT) reduced its monthly dividend to $0.0833 per share effective September 2026.

Gold Before Change (Sponsored)

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Upcoming Dividend Payers

Bank of America (BAC) goes ex-dividend Friday, September 4, paying $0.32 per share on September 25.

General Motors (GM) goes ex-dividend Friday, September 4, paying $0.18 per share on September 17.

Alphabet (GOOGL) goes ex-dividend Friday, September 4, paying $0.22 per share on September 14.

PepsiCo (PEP) goes ex-dividend Friday, September 4, paying $1.48 per share on September 30.

Kraft Heinz (KHC) goes ex-dividend Friday, September 4, paying $0.40 per share on September 25.

Everything Else

  • 📊 A balanced mix of 10 stocks pairs dividend powerhouses built for steady payouts with high growth names carrying technical setups that preceded triple digit runs before.

  • 🏦 Sberbank expects another record profit in 2027 after projecting 2026 earnings above last year’s all-time high, even as management warns Russian consumer spending is weakening.

  • 🎰 Lottomatica’s planned CIRSA acquisition is expected to support up to €4 billion in dividends and buybacks while creating the world’s second-largest listed betting group.

  • 🛍️ Woolworths Holdings reported a 5.3% profit increase as strong online food sales helped offset softer overall growth and rising costs.

  • 📡 Deutsche Telekom drew activist attention after Elliott reportedly built a stake and pushed the telecom giant to abandon a potential transaction involving T-Mobile US.

  • 🏭 Bodycote agreed to a $2.5 billion takeover from Veritas Capital, with shareholders also set to receive an interim dividend as part of the deal terms.

That’s all for today’s edition of the Dividend Brief.

Thanks for reading, and if you have any feedback or dividend stocks you want me to take a look at, just reply to this email!

—Noah Zelvis
DividendBrief.com