Our latest Research - 31/10/2014
DividendMax write up 31/10/2014 – US dollar denominated stocks in the FTSE 100
Recent articles for private investors with a focus on dividend announcements
Dairy Crest increases its 2014 interim dividend by 2%
First half profitability maintained despite challenging trading environment
First Group 2014 interim results
Group overview:
* Trading for the first half was in line with management's expectations and
our multi-year transformation programme is on track
* Encouraging progress with First Student turnaround and good performances in
First Transit and UK Rail
* Core Greyhound customers and some local UK Bus markets not yet seeing
benefit of improving economic trends
* Reported revenue decreased by 10.9%, in part reflecting structural changes
in Rail revenues which have no material impact on operating profit, prior
period revenues from UK Bus operations now sold/closed, and foreign
exchange. Excluding these items, revenue increased by 3.9%
* Adjusted operating profit increased by 2.4% and adjusted attributable
profit more than doubled
* Statutory operating profit decreased by 11.5%, with prior period
benefitting from gain on UK Bus disposals
* Seasonally higher mid-year net debt: EBITDA ratio of 2.5 times (2.2 times
as at 31 March 2014). Five year, £800m revolving credit facility signed in
the period
* On course to achieve our medium term financial targets
Associated British foods increases its 2014 full year dividend by 6%
George Weston, Chief Executive of Associated British Foods, said:
BP raises 2014 Q3 dividend by 5% in dollar terms
BP's third-quarter replacement cost (RC) profit was $2,385 million, compared with $3,178 million a year ago. After adjusting for a net charge for non-operating items of $798 million and net favourable fair value accounting effects of $146 million (both on a post-tax basis), underlying RC profit for the third quarter 2014 was $3,037 million, compared with $3,692 million for the same period in 2013. For the nine months, RC profit was $9,042 million, compared with $22,174 million a year ago which included a $12.5-billion gain relating to the disposal of our interest in TNK-BP. After adjusting for a net charge for non-operating items of $1,055 million and net favourable fair value accounting effects of $200 million (both on a post-tax basis), underlying RC profit for the nine months was $9,897 million, compared with $10,619 million for the same period last year. RC profit or loss for the group, underlying RC profit or loss and fair value accounting effects are non-GAAP measures and further information is provided on pages 3 and 29.
Tesco 2014 interim results
UK like-for-like sales down (4.6)%, impacted by strong competition across the grocery market, headwinds from price cuts and fewer untargeted promotions
WH Smith increases its 2014 final dividend by 14%
Total ordinary dividend per share of 35.0p, a 14% increase on the prior year; including final dividend proposed of 24.2p, up 14% on the prior year
Bellway delivers a 73% increase in its 2014 full year dividend
An increase of 21.2% in the number of homes sold to 6,851 (2013 - 5,652) as a result of the Group's response to strong consumer demand.
GVC increases its 2014 interim dividend by 25% and pays a special
GVC Holdings PLC, the multinational sports betting and gaming group,today announces its Interim Results for the six-months ended 30 June 2014 together with its quarterly dividend and a special dividend.
Premier Farnell maintains its 2014 interim dividend at 4.4p
HIGHLIGHTS
First half sales growth of 3.3%, accelerating to 4.7% in the second quarter.
Positive momentum reflects the execution of our strategic priorities and
gradual improvement in the market backdrop.
Adjusted operating margin was 9.5%, in line with our expectations and unchanged
from the prior year despite planned investments.
Adjusted profit before tax up 2.4% year on year, despite currency movements,
benefiting from reduced finance costs.
Business reorganisation on track to achieve planned £6m-£8m annual cost
benefits in 2015/16. New executive team in place to lead the simplified
organisation as we seek to leverage our global resources.
Continued strategic progress, especially in developing leadership at the front
end of electronics cycle:
Integration of AVID Technologies enhances Group's offering to components
manufacturers.
Development kit sales to engineering customers up 13.5%.
Phase one of element14 Design Center launched. Phase two will provide
industry's first online software store.
Global contract signed with ARM to support mbed online tools platform for
development of the Internet of Things.
Emerging markets sales growth up 14.4%, ahead of target.
Free cash flow at 2.9% of sales following inventory investments; inventory
expected to remain at similar level in second half.
The Board has approved an unchanged interim dividend of 4.4p per share (2013/ 14: 4.4p).
Laurence Bain, Chief Executive Officer, commented:
"The Group made progress in the first half of 2015 towards achieving its sales
growth target of 6%, whilst maintaining stable gross margin. We are on track
with our planned investments to develop our design services business and to
further enhance our innovative eCommerce channels and, in June, we commenced
the reorganisation of our business into a more efficient, global enterprise.
The successful execution of these initiatives will position the Group to
become the global destination for electronics customers and deliver its
strategy for profitable growth.
We continue to expect a year of further progress in achieving the Group's
strategic goals with our full year expectations remaining unchanged. Following
the completion of the planned strategic investments over the remainder of this
year, we believe that the Group will be well positioned to accelerate its
top-line growth and deliver profitability in line with our target."
Kier increases its 2014 full year dividend by 6%
Financial highlights - good set of results in line with expectations
City of London investment trust increases 2014 full year dividend by 3.2%
Net asset value total return of 14.7%
5201-5250 of 7440
