Key takeaways:

• A long list of ASX stocks trade ex-dividend in March following reporting season

• Pharmaceutical giants Pfizer and Johnson & Johnson end February on a low note

As investors dialled back their expectations for an end to monetary tightening, shares went backwards throughout February. A disappointing earnings season piled on further pressure for the local share market, while raising a few surprises as well. Here are the major movers from February, plus some of the many dividends coming up over the following weeks.

Major Movers in February

1. eCargo Holdings (ASX: ECG) - up 260.0%

Dubbed a One-stop Shop and online-to-offline enabler, eCargo Holdings finished February as the top performing stock across the entire ASX. The company services international brands and retailers looking to penetrate the Asian market, with operating companies in China, Vietnam, and Australia.

At one point during February, the company was queried by the ASX regarding the sudden increase in price and volume for ECG shares, with the stock surging from a closing price of $0.02 per share on February 14 to an intraday high of $0.07 on February 20. 

Although the company could not attribute the rise to any unannounced news, it did make note of a broader improvement in market sentiment towards companies that may benefit from China opening and possible increase in domestic consumption.

2. Ambrx Biopharma (NYSE: AMAM) - up 195.8%

Among the top US stocks from February was clinical stage biopharmaceutical company Ambrx Biopharma, which is using its proprietary Engineered Precision Biologics (EPBs) platform to create antibody drug conjugates (ADCs). 

Ambrx shares effectively tripled across the course of the month, with the catalyst being news that its proprietary Anti-PSMA ADC, ARX517, demonstrated encouraging single-agent safety and efficacy data in patients with advanced prostate cancer. The results from the Phase 1 trial appear to have buoyed interest in the stock, which was previously flying under the radar.

Honourable Mentions:

• Carnegie Clean Energy (ASX: CCE) - up 100.0%

• Lode Resources (ASX: LDR) - up 95.8%

• Buxton Resources (ASX: BUX) - up 82.6%

• SelectQuote (NYSE: SLQT) - up 177.2%

• Sera Prognostics (NASDAQ: SERA) - up 159.9%

• Meihua International Medical Tech (NASDAQ: MHUA) - up 139.8% 

52-Week Highs

1. Washington H Soul Pattinson & Company (ASX: SOL) - up 1.6% in February

Shares in Australian investment firm Washington H Soul Pattinson & Company ended the month at their highest level in more than a year. The longstanding business, which has strategic stakes in a range of businesses like Brickworks, New Hope, and TPG, has established itself as a renowned dividend-paying stock over the years. SOL has lifted its dividend annually on every occasion since 2000, and with Brickworks and New Hope both having bumper years, it looks like investors are banking on another increase.

2. OZ Minerals (ASX: OZL) - up 0.5% in February

With BHP and OZ Minerals agreeing to a scheme of takeover deed in relation to the copper miner, shares in the latter performed resiliently during February. At the start of the month, Brazil Administrative Council for Economic Defence provided clearance for BHP to acquire OZ Minerals, with the stock now drifting closer and closer towards the bid price of $28.25 per share.

3. General Electric Company (NYSE: GE) - up 4.2% in February

American multinational General Electric Company is another name popping up on scans for stocks trading at a 52-week high. The stock gained support over recent weeks due to news the company is looking to bid on a new Pentagon contract to manufacture upgraded engines for F-35 stealth fighter jets. 

Hopes of a potential deal spurred GE shares higher, but with the business also recently spinning out its healthcare division, and considering a spin-off of its energy and power businesses, investors may be looking at potential arbitrage upside from any transaction. 

Other Highs:

• The Lottery Corporation (ASX: TLC) - up 10.4% 

• Ingersoll Rand (NYSE: IR) - up 4.3%

• Reliance Steel & Aluminum Co (NYSE: RS) - up 7.7%

• Penumbra (NYSE: PEN) - up 5.8%

52-Week Lows

1. Invocare (ASX: IVC) - down 17.5% in February

Funeral operator Invocare is trading at its lowest level in more than two-and-a-half years, which follows a disappointing earnings report this week. Despite revenue rebounding from the pandemic years, the company swung to a loss of $1.8 million as its funds management incurred heavy losses due to market volatility. Higher inflationary costs for caskets, labour shortages, and reports suggesting a loss in market share also weighed on the stock.

2. Pfizer (NYSE: PFE) - down 7.7% in February

After being one of the standout performers during the midst of the pandemic, pharmaceutical giant Pfizer has faced a brutal reality check over recent months. With the company forward-outlook for sales of its coronavirus products less than expected due to government stockpiling and decreasing vaccination rates, the PFE share price has tumbled as the company forecasts total revenue to plunge more than 30% in 2023.

3. Johnson & Johnson (NYSE: JNJ) - down 4.8% in February

Suffering from a similar fate as Pfizer, Johnson & Johnson shares are lower as the company unwinds production of its COVID vaccine. That also translated into fourth-quarter sales and earnings that came in below expectations. Meanwhile, a series of issues arising from J&J partnerships dampened enthusiasm for the stock, as did news that an appeals court in the US rejected J&J attempt to use bankruptcy proceedings to dismiss almost 40,000 lawsuits relating to its talc products.

Other Lows:

• Cobram Estate Olives (ASX: CBO) - down 1.5%

• GWA Group (ASX: GWA) - down 19.1%

• Cooper Energy (ASX: COE) - down 8.3%

• Pointsbet Holdings (ASX: PBH) - down 11.2%

• XP (NASDAQ: XP) - down 30.6%

• Dominion Energy (NYSE: D) - down 11.5%

Upcoming Dividends

1. Telstra (ASX: TLS) | Ex-dividend: Mar 1, 2023 | Amount: $0.085 per share | Franking: 100% | Pay Date: Mar 31, 2023 

Telstra has boosted its dividend to 8.5 cents per share, with the telco reporting strong numbers in the recent half. The company total income jumped 6.4% to $11.6 billion, while EBITDA and net profit after tax (NPAT) both increased by double-digit percentages. It is the second consecutive occasion where the company has hiked its dividend.

2. Pilbara Minerals (ASX: PLS) | Ex-dividend: Mar 2, 2023 | Amount: $0.11 per share | Franking: 100% | Pay Date: Mar 24, 2023

Following a bumper profit, lithium miner Pilbara Minerals has declared an inaugural dividend for shareholders. Revenue was up nearly seven-fold for the company, while net profit after tax totalled $1.24 billion. On the back of those figures, management made the decision to return 11 cents per share to investors in the form of a fully-franked dividend payable in late March.

3. Woodside Energy (ASX: WDS) | Ex-dividend: Mar 8, 2023 | Amount: US$1.44 per share | Franking: 100% | Pay Date: Apr 5, 2023

With its dividend up 87% versus the prior corresponding period, shareholders in Woodside Energy will receive a payment of US$1.44 per share in early April. The stock will trade ex-dividend on March 8, with the company record underlying net profit after tax of US$5.2 billion enough for management to decide that a fully-franked dividend is warranted.

4. BHP (ASX: BHP) | Ex-dividend: Mar 9, 2023 | Amount: US$0.90 per share | Franking: 100% | Pay Date: Mar 30, 2023

Unlike some of the other names on this list, iron ore titan BHP is one company that made the decision to slash its dividend. BHP shareholders will receive a fully-franked interim dividend of 90 US cents per share, down 40% versus the first half of last year. The cut was in response to a sharp fall in earnings, which slumped nearly one-third on the back of lower iron ore prices.

Other Dividends:

• AMP (ASX: AMP) - $0.025 dividend; franking: 20%; ex-div: Mar 1, 2023; payment: Apr 3, 2023

• Coles (ASX: COL) - $0.36 dividend; franking: 100%; ex-div: Mar 2, 2023; payment: Mar 30, 2023

• Woolworths (ASX: WOW) - $0.46 dividend; franking: 100%; ex-div: Mar 2, 2023; payment: Apr 13, 2023

• Treasury Wine Estates (ASX: TWE)  - $0.18 dividend; franking: 100%; ex-div: Mar 3, 2023; payment: Apr 4, 2023

• Bendigo and Adelaide Bank (ASX: BEN) - $0.29 dividend; franking: 100%; ex-div: Mar 6, 2023; payment: Mar 31, 2023

• Iluka Resources (ASX: ILU)  - $0.20 dividend; franking: 100%; ex-div: Mar 6, 2023; payment: Mar 30, 2023

• QBE (ASX: QBE) - $0.30 dividend; franking: 10%; ex-div: Mar 6, 2023; payment: Apr 14, 2023

• Super Retail Group (ASX: SUL) - $0.34 dividend; franking: 100%; ex-div: Mar 8, 2023; payment: Apr 14, 2023

• Mineral Resources (ASX: MIN) - $1.20 dividend; franking: 100%; ex-div: Mar 9, 2023; payment: Mar 30, 2023

• CSL (ASX: CSL) - US$1.07 dividend; franking: 0%; ex-div: Mar 9, 2023; payment: Apr 5, 2023

• Rio Tinto (ASX: RIO) - US$2.25 dividend; franking: 100%; ex-div: Mar 9, 2023; payment: Apr 20, 2023

• Carsales (ASX: CAR) - $0.285 dividend; franking: 100%; ex-div: Mar 17, 2023; payment: Apr 18, 2023

• Seek (ASX: SEK) - $0.24 dividend; franking: 100%; ex-div: Mar 22, 2023; payment: Apr 5, 2023

• Goldman Sachs (NYSE: GS) - US$2.50 dividend; ex-div: Mar 1, 2023; payment: Mar 30, 2023

• Qualcomm (NASDAQ: QCOM) - US$0.75 dividend; ex-div: Mar 1, 2023; payment: Mar 23, 2023

• Bank of America (NYSE: BAC) - US$0.22 dividend; ex-div: Mar 2, 2023; payment: Mar 31, 2023

• Nike (NYSE: NKE) - US$0.34 dividend; ex-div: Mar 3, 2023; payment: Apr 3, 2023

• Blackrock (NYSE: BLK) - US$5.00 dividend; ex-div: Mar 6, 2023; payment: Mar 23, 2023

• Devon Energy (NYSE: DVN) - US$0.89 dividend; ex-div: Mar 14, 2023; payment: Mar 31, 2023