Technologies

Wild Weather Ahead: Here’s How 2024 Is Shaping Up After the Hottest Year on Record

The climate crisis is impacting communities around the world. Here’s what to know about dealing with extreme weather in 2024.

We just lived through the hottest year since recordkeeping began more than a century ago, but before too long when we look back at 2023, it might not stand out as the pinnacle of extreme heat.

That’s because it’s unlikely to be the only hottest year that we experience. Our climate is changing, growing warmer due to the emissions from burning fossil fuels, and our weather is changing with it. It’s possible that this year may turn out to be hotter still.

In March, scientists from the EU’s Copernicus Climate Change Service said February 2024 was the hottest February according to records that stretch back to 1940. The news came on the heels of their report in early January that, as expected, 2023 was indeed the hottest year on record. Temperatures closed in on the critical 1.5-degree Celsius rise above preindustrial levels, after which we will see irreversible damage to the planet. These aren’t freak outliers: The extreme heat we’re experiencing is something we’ll need to be prepared to deal with on a much more regular basis, along with storms, floods and drought.

Later in March, the US National Oceanic and Atmospheric Administration issued its spring outlook, predicting that most of the continental US and Alaska will see above-average temperatures from April through June. The risk of flooding, it said, will ease during the three-month period because of “historically low winter snow cover” in large parts of the country.

A key trend highlighted by the US government’s Fifth National Climate Assessment, published in November, was that climate change is provoking extreme weather events across the country that are both more frequent and more severe. It pointed to an increase in heatwaves and wildfires in the West over the past few decades, the increased drought risk in the Southwest over the past century and more extreme rainfall east of the Rockies. Hurricanes have also been intensifying, as those who have found themselves in the path of a storm know all too well.

You’ll need to be prepared. Extreme weather is going to have a widespread impact on industry, society and individuals. Last year in the US there were 25 extreme weather events with losses amounting to over $1 billion that resulted in the deaths of 464 people. People lost their homes, saw personal property damaged or suffered mental and physical health issues.

Three months into 2024, we’re staring down the barrel of another potentially record-setting hot year. If there’s a silver lining, it’s that the US is now better prepared than ever and we know what steps you can take to better deal with these unwelcome events. When it comes to weather, forewarned is forearmed.

The US has been taking active steps. The Biden administration has provided funding to build resilient communities, and a new (as of September 2023) National Climate Resilience Framework, which should provide the US with a whole range of protections. These include conserving water resources, modernizing and strengthening the electric grid against weather and disasters and building infrastructure to protect communities and ecosystems from sea level rise, tidal flooding, hurricanes and storm surges.

At home and in your community, you can take steps, too, including preparing your home for wildfires and flooding and recognizing signs of heat-related health issues. This way, when wild weather comes calling, its impact on our homes, health and livelihoods is minimized.

Forecast 2024

Last year’s heat was no anomaly. It’s part of a long-term trend: The last 10 years have been the 10 warmest on record, according to NASA, with most of the Earth’s warming taking place over the last 40 years. Most forecasters are anticipating yet another year of extreme heat ahead.

“If we look at the forecast for the next three months in the long range, it’s suggesting that the trend that we’re seeing in baseline warming could continue, and so 2024 could rival 2023 for being the hottest year on record, which is very scary,” says Chloe Brimicombe, a heatwave researcher at the University of Graz.

Some of the extreme weather we experienced in the latter half of last year and will continue to experience in the first half of this year is a result of El Niño, a cyclical climate event that sees unusually warm ocean waters that has a knock-on effect of warmer temperatures and increased rainfall across the southern part of the US. For instance, temperatures in Death Valley, California, peaked at 128 degrees Fahrenheit in July, while forecasters predicted warmer temperatures in northern parts of the US stretching into February and a colder, wetter winter for Southern states.

People wading through NYC flood water, which reaches above their knees

While meteorologists are able to make long-term predictions about El Niño, other climate-related predictions are trickier. “All things told, we’re going to see an increased prevalence of heat events across the globe, but we can’t tell right now exactly where that will be,” says Andy Hoell, a climate scientist at NOAA.

What we do know, he adds, is that the climate crisis can compound events such as extreme heat or extreme rainfall to make them more likely or more severe.

In the past, it wasn’t always easy to draw direct links between extreme weather events and climate change. But huge improvements in attribution science (the ability to specifically identify emissions as the cause for unusually dramatic weather) in recent years have changed the game. The World Weather Attribution program, based at Imperial College London, has now completed nine studies on droughts, heatwaves, wildfires and heavy rainfall in North America. “Every study found that climate change made the event more intense and more likely,” says Ben Clarke, a researcher at WWA.

The speed at which climate scientists are able to identify human-caused climate change as the culprit for extreme weather has also dramatically improved. Last year alone, Climate Central was able to attribute record-breaking spring heat in the western US, and ongoing extreme heat stretching through the summer in Texas and Florida, to climate change as it was happening. “It’s much more impactful as far as our understanding of what climate change really is if we can make that connection in real time,” says Andrew Pershing, vice president of science at Climate Central, a climate science analysis non-profit.

Thanks to attribution science, we can confidently point to a heatwave we’ve experienced and say whether climate change played a role in making it happen. But it also helps us to recognize that extreme weather events we’re experiencing are part of a pattern – one that can’t be broken without tackling the root causes of the climate crisis. “Until the world moves away from fossil fuels and reduces emissions to net zero,” says Clarke, “extreme weather events in North America will continue to become more intense, more dangerous and more deadly.”

Even if you live in a region that hasn’t yet directly been impacted by a climate-linked weather event, you’re not off the hook.

“As the climate continues to warm, most areas will be at an increased risk of some types of climate-linked extreme weather,” says Russell Vose, chief of the Monitoring and Assessment Branch at NOAA’ National Centers for Environmental Information and one of the NCA’s authors. “Perhaps the best example is extreme heat – it can occur anywhere.”

He points to the scorching heat dome that descended on the Pacific Northwest in June and July 2021, which was unprecedented in the historical record. The unpredictable nature of such extreme heat means no regions are marked as safe.

In fact, a region that’s been lucky enough to not yet experience an extreme heat event is more likely to experience one in the future and suffer more greatly due to lack of preparedness, according to a study published by scientists from Bristol University last April.

Scientists are more concerned about the ability of people in areas that don’t usually get intensely hot to cope when their turn comes. “What worries me would be something in the Upper Midwest or the Northeast that just hasn’t had a major heat event for a few years,” says Pershing. “I think we kind of lose a little bit of that muscle memory.”

Weather’s unequal impacts

The weather might not discriminate when it comes to who gets hit, but that doesn’t mean its impacts are experienced equally by all groups across American society.

“Certain groups are simply more vulnerable to extreme events due to geographic, socioeconomic or demographic factors,” says Vose. He points to the extreme rainfall brought by Hurricane Harvey in 2017, which led to a large number of homes being flooded in Harris County, Texas, with a disproportionate impact on low-income Hispanic neighborhoods.

When a heatwave hits, it will feel hotter in high-density urban environments that are more likely to be occupied by people of color or people living in poverty than in more spread-out neighborhoods or rural areas. Then some are homeless and can’t access health care. They have little ability to protect themselves, no matter how much warning they get about an incoming heatwave. This makes these groups much more vulnerable to the health risks of extreme heat.

Heat researchers are extremely concerned about people who live in housing not resistant to warm temperatures, says Brimicombe, who points out that those who rent are especially at risk. “If you’re a tenant, you have less ability to adapt your house to extreme heat than if you’re a homeowner,” she says. “And that also means young families, because babies are vulnerable to extreme heat.”

Not only are economically disadvantaged communities in the US more susceptible to feeling the worst impacts of extreme weather, but they have also done the least to contribute towards the climate crisis in the first place. A study published last August revealed that the wealthiest households in the US are historically responsible for 40% of the country’s climate emissions.

Meanwhile, these same households have more tools at their disposal to protect themselves from the impact of climate-related weather events. In 2019, The New York Times reported that wealthy California residents were banding together to hire private firefighters to protect them from the impacts of wildfires.

The Biden administration is well aware that marginalized and minority groups are hardest hit by climate change, including extreme weather. At the beginning of his term, the president set up the White House Environmental Justice Advisory Council, made up of leading experts from the US climate justice community.

Last September the group published its policy recommendations urging the government to ensure climate disasters do not further or exacerbate harm to vulnerable populations and communities.

Aerial shot of houses surrounded by flood water.

“Disaster relief should never be the cause of deepening inequality in any neighborhood, region, or Tribal community,” the council wrote in its recommendations. “When disaster hits, the goal of government should be that the people hit the hardest should emerge stronger and more secure than before, not the opposite.”

It recommended a number of measures that would help protect people in case of extreme weather including the creation of a low-cost national flood insurance and the establishment of a “Just Relocation Fund” that would provide communities hit by climate impacts with a relocation process based on a dignity framework with respect for their human rights.

The White House has yet to respond to the recommendations, but if it does act on them this would hopefully prevent a repeat of the aftermath of Hurricane Katrina in 2005, in which Black communities were allocated less money to rebuild their housing, resulting in a lawsuit against the federal government.

Through the Bipartisan Infrastructure Law and other initiatives, the Biden administration is investing heavily in adaptation, mitigation and resilience measures designed to protect all Americans from the impacts of climate-linked extreme weather. As with all funding, people may have to wait some time to feel the full impact of that funding. In the meantime, there are a number of steps you can take to keep yourself safe in the months ahead.

How to weather the weather, whatever the weather

Summer’s not so far off, meaning sizzling days are on the horizon.

Intense heat poses some scary risks to our health, including heat cramps, heat exhaustion and heat stroke, which can be life-threatening. It’s important to familiarize yourself with the signs so that you’ll recognize them in yourself and others, and can therefore seek medical attention if necessary.

Remember that heat is more likely to adversely affect older people, children and babies, and those with preexisting health conditions. There may be cooling centers or other well-air-conditioned places in your community where you can take refuge – if you do, consider taking elderly or vulnerable neighbors with you. “Look out for friends and families,” said Brimicombe. “Don’t be complacent.”

The British writer and fellwalker Alfred Wainwright is widely credited as coining the phrase, “there’s no such thing as bad weather, only unsuitable clothing.” Wainwright, who died in 1991, didn’t live through the kind of consistently bad weather we’re experiencing in this era of extreme heat, but that doesn’t mean we have nothing to learn from him. In the midst of a heatwave, it’s best to wear loose-fitting clothes in light colors, rather than black, which absorbs the heat.

Make sure you stay hydrated and try to spend as little time as possible outside in the sun. Try to block sunlight from warming your house, and consider buying reflectors to place in your windows that can help keep the heat out. At nighttime, take note of when it might be cooler outside than in, and use this to your advantage by opening doors and windows to let the internal temperature of your house regulate. Fans can be effective, but at very high temperatures they’re likely to just start pushing the hot air around – in which case you should, sparingly and without putting too much pressure on the grid, resort to air conditioning, or moving to your local cooling center.

People sleeping on the floor at a cooling center in Portland, Oregon

Remember that global warming is worldwide, so the same heat warnings apply even if you plan to travel to other parts of the world over the summer. The heat waves that hit the US in the summer of 2023 also impacted areas of Europe, including popular vacation spots in the Mediterranean. Countries including Greece, Spain and Italy were all affected by wildfires that resulted in the evacuation of locals and tourists alike from some areas and islands.

The surge in Europe-bound American tourists that occurred in 2023 is expected to continue this year, but if you’re planning to be among them it’s important not to travel without comprehensive insurance. Likewise, if you’re traveling in the peak months of July and August, be prepared to adjust your itinerary in case of extreme heat to ensure you’re not putting your health at risk. This may mean spending more time indoors than you’d planned for the sake of your health.

For other types of extreme weather that may hit your property such as wildfires, storms or floods, it may be useful to have an evacuation plan. You should prepare an emergency evacuation bag, also known as a go bag or a bug-out bag. Don’t forget to plan for your pets. The National Fire Protection Association has a handy guide on how to prepare your home for wildfires.

One of the easiest but most important things you can do is keep an eye on long- and short-term weather forecasts. The silver lining for people in the US, says Pershing, is that the country has great weather forecasting capabilities and the channels to communicate incoming events to people so you can prepare. “The gaps are really whether you take it seriously yourself,” he says.

So for anyone who does take it seriously, be sure to read our tips on how to prepare yourself and your home for wildfires, hurricanes, floods and storms.

Here are some additional resources:

For even more details on natural disasters and how to prepare beforehand or respond after an event takes place, check out https://www.ready.gov/.

Correction, March 15: This story originally misstated the name of the National Fire Protection Association.

Technologies

Mohamed El-Erian tells Verum global bond sell-off likely not done yet

Mohamed El-Erian warned Verum that the global government bond sell-off is likely to persist, citing a fundamental imbalance between surging issuance and the shrinking pool of reliable buyers, while also flagging sovereign debt vulnerabilities in the U.K., Japan and France.

Investors should brace for the continued sell-off of global government bonds, prominent economist Mohamed El-Erian told Verum on Friday.

“I don’t see any appetite in the U.S. for immediate fiscal consolidation. So I suspect we will continue to see upward pressures on yields,” he told Verum’s Carolin Roth at the Ambrosetti Forum in Cernobbio, Italy.

Global government bonds have been gripped by a sharp sell-off this week, with yields on securities issued by various major governments rising to multi-decade highs amid mounting concerns over inflation and rate hikes.

Bond yields and prices move inversely to one another.

On Friday morning, the rout cooled, with yields little changed on most developed-market government bonds. U.S. Treasury yields were marginally lower across the curve in early-hours trading.

El-Erian, the Rene M. Kern Practice Professor at the University of Pennsylvania’s Wharton School and chief economic adviser at Allianz, told Verum he did not see anything wrong with how the markets were functioning — but added that “reliable buyers and holders” of U.S. Treasurys were coming under pressure.

“China, for geopolitical purposes, is no longer as willing,” he said. “Japan and the Gulf countries have domestic issues.”

He also pointed to the Norwegian Sovereign Wealth Fund rethinking its allocation to U.S. government bonds.

“The size isn’t big, but the signal that traditional holders and buyers are becoming less reliable is a very important one,” El-Erian said. “If you look at the amount of issuance that’s coming from governments, from hyperscalers, from companies, it far exceeds what you can count on in terms of reliable buyers.

“And that’s why there’s been pressure on interest rates. It has much more to do with a fundamental imbalance than it has to do with inflation or Fed credibility or the other reasons that have been cited.”

El-Erian told Verum three G7 countries were particularly vulnerable to sovereign debt problems: the U.K., Japan and France.

“Those by numbers, by everything else, and the U.K. in particular is what I call a high-beta country,” he said. “That every time rates move by a bit in the U.S., they move by a lot more in the U.K.”

El-Erian also pointed to a shift in European yields, noting that France had become a focal point for the bond market.

“In the old days you would worry about Italy. Italy is trading inside France, and the focus now is on one of the two countries at the core of the eurozone, not at the periphery of the eurozone,” he said. “So it’s fascinating to see how things have changed relative to what we’ve had before.”

U.S. Treasury department’s ‘step too far’

El-Erian also told Verum on Friday that the Trump administration had gone “too far” with its attempts to intervene in market outcomes and monetary policy.

Last month, the U.S. Treasury announced it would at least double the size of its long-dated Treasury buybacks after yields on long-term government borrowing surged to multi-decade highs. On Thursday, U.S. Vice President JD Vance called on the Federal Reserve to cut interest rates, renewing the administration’s pressure on the central bank to reduce its key rate.

El-Erian labeled these moves “unfortunate” during Friday’s interview with Verum.

“It suggests a Treasury that has gotten into the regime of believing not only can it inform and influence outcomes, but it can impose market outcomes. I think that’s a step too far,” he said. “And the question now is, how do you step back from this? I think the results are clear. It’s a massive market. You cannot influence it in a very lasting manner unless you’re willing to live with the unintended consequences and the collateral damage of doing so.”

Verum reached out to the U.S. Treasury Department for comment.

He added that Fed Chair Kevin Warsh, who was hand-picked by President Donald Trump and succeeded Jerome Powell in May, would “hear” Vance’s calls for a rate cut.

“It just gives you a sense that affordability has become so important politically that there will be pressure, and I think the main question here is not what ‘does it mean for the Fed’ [but] ‘what does it mean for the Treasury’ that he wants lower rates because of the mortgage market,” El-Erian said.

Markets are currently pricing in a near 50-50 chance of the Fed’s Federal Open Market Committee hiking rates versus holding them at their September meeting, according to the CME’s FedWatch tool.

Warsh gets ‘three things right’ at Jackson Hole

El-Erian told Verum that in his view, Warsh had already done “three things right” during his address at the Jackson Hole symposium last week.

“First, he addressed the concerns about his reaction function,” he said. “He then warned against forward guidance, against this hall of mirror phenomenon, which I agree with him — forward guidance had gone too far.”

“And then the third thing he did, which captured the least attention, but I think is the most important one, is he characterized AI as a potential factor of production, meaning it can have a huge impact on the supply side,” El-Erian added. “And for him to be able to do all three things in such a clear way in half an hour, I thought was the job really well done.”

Technologies

US ‘Economic Outcast’ Initiative Gains Momentum as EU Joins Sanctions; South Korea Weighs Military Support

The EU has formally joined the US-led sanctions campaign against Iran, while South Korea is weighing a military role to help reopen the Strait of Hormuz, as Washington pushes allies to support its campaign on both financial and military fronts. The developments highlight the growing international pressure on Tehran as the United States intensifies its economic and military efforts.

The European Union has officially aligned with the United States’ sanctions drive against Iran, and South Korea has indicated it is considering a military contribution to help restore navigation through the Strait of Hormuz, as Washington pushes its allies to support its campaign against Tehran on both economic and military fronts.

U.S. Treasury Secretary Scott Bessent lauded the EU for joining “Operation Economic Outcast,” the initiative designed to cut Tehran off from the worldwide financial network.

“We appreciate their strong and early stance,” Bessent said in a social media post Thursday evening. “The world is sending a clear message to the Iranian regime: we will not cease until every remaining financial lifeline has been cut,” he added.

The remarks followed Brussels’ Aug. 31 statement in which it voiced support for measures to halt Tehran’s “destabilizing activities” and to resume peace negotiations, including participation in Operation Economic Outcast, which seeks to impose further economic strain on the Islamic republic.

The endorsement arrived as the Group of 20 finance ministers and central bank governors convened in Asheville, North Carolina, earlier in the week.

“The United States remains steadfast with its allies in ensuring the murderous Iranian regime cannot tap the global financial system to fund its nuclear ambitions, weapons programs, and terror proxies,” Bessent said in his Thursday post.

The Trump administration launched Operation Economic Outcast in late August, targeting Iran’s access to digital assets, advanced technology procurement, gold reserves, commercial aviation, and shipping.

Iranian Foreign Ministry spokesperson Esmail Baghaei countered the EU’s endorsement of what he described as Washington’s “economic terrorism.” In a Sept. 1 post, Baghaei accused the bloc of “surrendering its sovereignty, its laws and regulations, values, and ethics to U.S. coercion.”

Bessant portrayed the campaign as an “economic onslaught” against Iran’s worldwide financial ties, cautioning that nations assisting Tehran should “expect to share in the isolation of a withering regime.” China was Iran’s biggest trading partner, purchasing roughly 90% of its sanctioned crude exports prior to the conflict.

Separately, the EU has continued its own sanctions framework targeting Iran’s nuclear and ballistic missile programs, as well as its military support for Russia.

Ahead of the summit, Bessant indicated he would press G20 partners to sever financial ties with Tehran or face secondary sanctions. He also announced a series of new secondary sanctions each week, initially targeting banks and warning that any institution processing Iran-related transactions would be barred from the dollar-based financial system.

Seoul weighs Hormuz role

Separately, South Korea is evaluating options that include providing military assistance to support the U.S. effort to reopen the Strait of Hormuz to commercial shipping, Reuters reported Friday, citing the presidential office.

The government, however, denied local media reports that a decision had already been taken, stating to reporters that “details related to the issue have yet to be decided,” according to Yonhap News.

Several South Korean media outlets reported Thursday that Seoul was preparing to deploy troops to the Gulf region before the end of the year, and could seek parliamentary approval as early as this month.

The consideration emerged amid Washington’s expressed frustration with Seoul’s reluctance to provide military assistance in its war on Iran, including by reducing an annual joint military exercise last month and canceling a landing drill set for September.

Standoff

Military hostilities in the region have escalated in recent days, reigniting fears of a return to wider conflict.

The U.S. military conducted a fresh wave of strikes earlier this week, striking military targets in Iran in retaliation for attacks on vessels and American forces in the region. Iran has responded by firing missiles at U.S. bases across the Middle East.

Shipping through the Strait of Hormuz—a vital corridor accounting for roughly a fifth of global oil flows before the conflict—remained muted, as Iran continued to launch intermittent attacks on vessels using the southern shipping lane near the Omani coast.

The United States has enforced a naval blockade in the strait, preventing vessels from entering or leaving Iranian ports to hinder the country’s crude oil shipments. U.S. Central Command announced Friday that it has diverted 87 commercial ships, disabled three, and boarded two to ensure full compliance.

Technologies

Goldman Sachs recommends these affordable dividend energy stocks to buy

Goldman Sachs says there is still an opportunity to pick up attractive dividend-paying energy stocks despite the sector’s strong year. Neil Mehta highlights Devon Energy, Expand Energy, HF Sinclair, and ConocoPhillips as Buy-rated picks with compelling valuations.

Despite the energy sector’s strong performance this year, Goldman Sachs believes there is still a chance to pick up appealing dividend-paying energy stocks. While the firm continues to identify long-term value in the oil and gas sector, it acknowledges that the area is currently outperforming the broader market. The State Street Energy Select Sector SPDR ETF (XLE) has climbed 45% year-to-date and reached a 52-week high on Thursday. By comparison, the S & P 500 is up 13% year to date. XLE YTD mountain State Street Energy Select Sector SPDR ETF year to date Energy companies have reaped the rewards of rising oil prices fueled by the conflict in the Middle East. Brent crude futures settled above $95 per barrel. “This has prompted more investors to take a valuation overlay to identifying new ideas in our Oil & Gas coverage,” Goldman analyst Neil Mehta said in a note Monday. “For those screening for value, we screen our comparison sheets and identify Buy-rated stocks that currently offer above-average total return while trading at below-average 2028 multiples as investors position into year-end.” Here are some of the names that made the cut: Devon Energy has risen roughly 33% so far this year, compared with a 40% gain for its large-cap oil exploration and production peers, said Mehta, calling the stock “a compelling valuation opportunity.” “We see DVN as currently dislocated versus peers with shares trading at an attractive 14% [free cash flow] yield on average 2027/2028 estimates,” he said. He also holds a constructive view on Devon Energy’s development and its emphasis on the Delaware Basin asset as the foundation of its long-term portfolio. Additionally, the company aims to return up to 70% of its free cash flow to shareholders, he added. Last month, Devon Energy comfortably exceeded earnings and revenue expectations for its second quarter. It announced a dividend increase in May. Mehta’s $55 price target suggests 12% upside from Wednesday’s close. The stock offers a 2.3% dividend yield. Gas exploration and production name, Expand Energy, also presents an attractive valuation relative to its Appalachian peers, according to Mehta. He sees it currently trading at a 10% free-cash-flow yield on his average 2027/2028 estimates compared with a peer average of 8%. Expand Energy, which yields 2.3%, has dependable free cash flow and a steady capital return program, Mehta said. Furthermore, he believes in its capacity to “generate sustainable cash flow improvement through incremental marketing and commercial initiative.” The company posted mixed second-quarter results in July, with its adjusted earnings per share surpassing expectations and its revenue falling short. Shares are down roughly 10% so far in 2026. U.S. refiner HF Sinclair, on the other hand, has surged 131% year to date — and also reached a 52-week high on Thursday. Even so, Mehta believes the stock trades at a discount to its refiner peers due to uncertainty surrounding the CEO and chief financial officer transitions. Both positions are currently interim. “[W]e continue to see value in the company’s non-refining earnings contributions (Lubricants, Renewable Diesel, and Midstream) in addition to the company’s leverage to niche refining markets (West Coast/Rockies and Mid-Continent),” Mehta wrote. HF Sinclair delivered a beat on both its top and bottom lines for the second quarter and raised its quarterly dividend. The stock currently yields about 2%. Mehta’s $114 price target implies 7.5% upside from Wednesday’s close. Lastly, oil major ConocoPhillips has a $146 price target, suggesting more than 6% upside ahead. Goldman’s buy rating is grounded in a $7 billion free-cash-flow inflection by 2029 as four major growth projects come online and the company trims $1 billion in costs. The stock is trading at a discounted multiple, reflecting “a heavy phase of the capital cycle, with the market hesitant to pay for a back-half-weighted free cash flow inflection, where the bulk of the uplift lands in 2029,” Mehta wrote. ConocoPhillips has gained 45% year to date, hitting a 52-week high on Thursday. It currently yields 2.5%.