S&P Global - SPGI STOCK NEWS

Hydro, a global aluminum company, has achieved a remarkable feat at the S&P Global Platts Global Metals Awards, winning Metals Company of the Year, Aluminum Industry Leadership, and Breakthrough Solution of the Year. The awards recognize Hydro's sustainability efforts and effective recovery from a cyber-attack in 2019. Celebrated during a virtual event, winners were drawn from 96 finalists across 23 countries. Martin Fraenkel, president of S&P Global Platts, commended Hydro's contributions to the metals industry's resilience amid market changes.

S&P Global Platts announced the launch of new price assessments for recycled polyethylene terephthalate (R-PET) in Southeast Asia as of June 30, 2020. This launch aims to address the growing demand for transparency in the recycled plastics market, reflecting a quality specification of recycled PET flakes. The assessments will support market participants by providing independent pricing insights, which are crucial for informed trading decisions. This move complements existing assessments in Europe and the US, highlighting the increasing market activity in the region amidst rising environmental concerns.

MySky has entered a strategic partnership with S&P Global Platts to enhance its AI-powered spend management platform for the private aviation industry. This agreement allows MySky clients access to S&P Global Platts' jet fuel price assessments, improving their benchmarking tools for fuel costs. MySky reported a 60% growth in Q1 2020, reflecting heightened demand for financial management tools amidst economic uncertainty. The partnership aims to promote transparency and support smarter financial decision-making for stakeholders, bolstering MySky's position in the market.

S&P Dow Jones Indices reported preliminary Q1 2020 S&P 500 buybacks at $198.7 billion, a 9.4% increase from Q4 2019 but down 3.4% from Q1 2019. Cumulatively, S&P 500 companies spent $721.6 billion in buybacks over the past 12 months, a 12.3% decline from the previous year. Dividends reached a record $127.0 billion for Q1 2020, up 8.2% from Q1 2019. Despite a strong start, COVID-19 is expected to impact future buyback strategies, as companies prioritize liquidity and cautious spending.

The Board of Directors of S&P Global (NYSE: SPGI) has declared a regular quarterly cash dividend of $0.67 per share, payable on September 10, 2020, to shareholders on record as of August 26, 2020. This brings the annualized dividend rate to $2.68 per share. Notably, S&P Global has maintained dividend payments annually since 1937 and has increased its dividend for at least the past 47 years, signifying strong financial health and commitment to shareholder returns.

According to a recent survey by 451 Research, part of S&P Global Market Intelligence, nearly 80% of organizations have expanded work-from-home policies due to COVID-19, with 67% expecting these changes to last. The survey, conducted from May 29 to June 11, involved 575 IT decision-makers and revealed that 47% anticipate reducing office space, while 34% project an 80% or more reduction in work travel for Q4 2020. Increased spending on IT resources and security is noted, with 50% investing more in communication technologies.

S&P Dow Jones Indices and Experian released data for the S&P/Experian Consumer Credit Default Indices through May 2020. The composite rate dropped 12 basis points to 0.78%, while the bank card default rate increased by 17 basis points to 4.40%. Notably, auto loan defaults decreased by 10 basis points to 0.56% and first mortgage defaults fell 14 basis points to 0.52%. Major metropolitan areas such as Chicago and New York exhibited significant reductions in their default rates.

The COVID-19 pandemic significantly disrupted corporate and financial information flow, but a recovery is underway, as reported by S&P Global Market Intelligence. Key findings include a sharp rise in bankruptcy-related events (135% in March, 204% in April, and 214% in May compared to 2019) and a 216% increase in dividend reductions during March to May. In April, 300 U.S. companies withdrew guidance, with earnings forecasts mostly revised downwards. May showed increased differentiation among companies, with more active forecasts revisions by analysts.