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Tuesday Ticker: Boyd Group announces Q2 2024 cash dividends; Rivian makes further layoffs

Toronto, Ontario — In this weekly Tuesday Ticker, Winnipeg, Man.-based Boyd Group Services announces its Q2 2024 cash dividends, payable at the end of July. Plus, Rivian makes another round of layoffs in the face of Q1 2024 losses.

Quarterly dividends

Boyd Group Services has announced its cash dividend for Q2 2024.

The network will pay $0.15 per common share, payable July 29, 2024, to common shareholders of record at the close of business on June 30, 2024.

Rivian rakes out roles

Electric vehicle (EV) maker Rivian has announced another round of layoffs, affecting a “small number” of salaried roles.

This comes after the company let go of around 10 percent of its salaried workforce in January.

Rivian cited improving efficiency as the reason for the layoffs, stating that the majority of the affected employees were a result of the company’s decision to move from three to two shifts in its manufacturing process.

The layoffs will not impact hourly workers. Rivian has been facing financial challenges, with significant losses per vehicle sold and an EBITDA-adjusted loss of $798 million in Q1.

The company has also launched its next-generation R1T pickup and R1S SUV, as well as unveiled new platforms, the R2 and R3.

As of Monday at 2 p.m., shares of Rivian traded at US$10.92 per share.

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