Recent articles for private investors with a focus on dividend announcements
Pearson Interim Management Statement
"Pearson increased sales by 6% and operating profit by 13% in the first nine months of 2011. (...) with all of our businesses performing well, we are reaffirming our trading guidance for the full year in spite of the recent deterioration in the macroeconomic outlook. In addition, we anticipate that our interest and tax charges on adjusted earnings will be lower than our previous guidance. As a result, we now expect to achieve adjusted earnings per share of approximately 83p for the full year (ahead of our previous guidance of approximately 80p)."
Old Mutual 3Q Interim Management Statement
"Funds under management ("FUM") decreased by 5% from 30 June 2011 to £116.1 billion at 30 September 2011. Equity markets ended the period down over 15% and were volatile due to continued concerns over European sovereign debt and European bank capital levels. Our Long-Term Savings division ("LTS") achieved positive net client cash flow ("NCCF") of £1.4 billion, driven by strong retail flows and flows in our non-South African Emerging Markets businesses."
BT half yearly 2011/12 results - interim dividend increased
Ian Livingston, Chief Executive, commenting on the results, said:
GSK reaches settlement with US government
GlaxoSmithKline reaches agreement in principle to resolve multiple investigations with US Government
Tate & Lyle half year results
Tate & Lyle delivered an encouraging performance during the first half with solid demand in a number of our markets. In Speciality Food Ingredients, we delivered good profit growth driven by increased sales volumes across the product portfolio and stable operating margins. Within Bulk Ingredients, we experienced firm demand for corn sugars in the US and Mexico and improved industrial starch margins particularly in Europe. During the first half we experienced exceptionally strong co-product returns as a result of tight market conditions. The dividend is up to 7.1p
Standard Chartered Q3 2011 IMS
"The Group has continued to perform well in the third quarter of 2011 with income momentum across a broad spread of products and geographies. Despite recent macroeconomic events, our markets continue to exhibit strong growth and their growth credentials remain intact. (...) Income in the first nine months of 2011 has grown by a high single digit percentage over the first nine months of 2010. Over the same period, operating profit before tax grew at a double digit rate. Income in the quarter has remained resilient and diverse and well above the level of the comparable period of 2010. Looking across the main income streams, Consumer Banking and Transaction Banking have shown double digit income momentum on a year to date basis. Financial Markets client income has performed well and Corporate Finance income is ahead of the level seen in the third quarter of 2010, whereas Principal Finance has been affected by the uncertain market environment. (...) Credit quality remains good in both businesses and loan impairment for the Group overall was slightly below the first half run rate. (...) We have no direct sovereign exposure to Portugal, Italy, Ireland, Greece or Spain. Our direct sovereign exposure in Europe is immaterial."
Logica Q3 IMS
HeadlinesGroup orders up 10% for the nine months to September driven by continued stronggrowth in OutsourcingRevenue for the nine months to September up 4%, with third quarter revenue up2% on last year to £914 millionOutsourcing revenue growth still strong, up 10% on a year to date basis and up8% in the quarterConsulting and Professional Services broadly stable for the nine months toSeptember despite third quarter revenue down 3% and mixed trends across ourmarketsRevenue up in all geographies except the Benelux on a year to date basis, withparticularly strong third quarter growth in the UKRevenue growth expected to be above 3% for the year, with adjusted operatingmargin now to be in the range of 6.5% to 7.0%Year endnet debt/EBITDA expected to be comfortably below 1.0x; strong secondhalf cash conversion expected
Next Interim Management statement
Next Brand sales (VAT exclusive) in the third quarter were up 3.3%. This figure is in line with our performance in the first half; so sales for the year-to-date are up 3.2%, at the mid-point of the full year +2.0% to +4.5% sales guidance issued in September. The overall growth pattern for the Next Brand is unchanged, with further improvements in Next Directory (our online business) and the addition of profitable new space more than compensating for slightly weaker underlying Retail sales.
Randgold Resources Q3 statement
London, 2 November 2011 - Despite torrential rains which flooded its flagship Loulo/Gounkoto complex in Mali during August, Randgold Resources ('Randgold') maintained gold production and on an adjusted basis significantly increased profit in Q3.
GDP at 0.5%
The UK economy grew by a better than expected 0.5% in the third quarter of 2011, according to the Office for National Statistics (ONS).
Greece to hold referendum
European markets have fallen following Monday's announcement of a Greek referendum on the latest aid package to solve its debt crisis.
Imperial Tobacco Final results 2011 - dividend increased 13%
Delivering Growth Through Total Tobacco Portfolio
G4S abandons Aquisition and rights issue
G4S AND FS INVEST AGREE NOT TO PROCEED WITH ACQUISITION OF ISS AND RELATED RIGHTS ISSUEG4S plc ("G4S") announces that G4S and FS Invest II S.Ã r.l. ("FS Invest") haveagreed to terminate the share purchase agreement ("SPA") pursuant to which G4Swas to acquire ISS A/S ("ISS") from FS Invest (the "Acquisition"). Accordingly,the board of directors of G4S (the "Board") will not put any resolutions to theshareholder meeting convened for 2 November 2011 and will not be proceeding withthe rights issue or other financing required for the Acquisition.Alf Duch-Pedersen, Chairman of G4S, said:"We believe that developing our business towards an enhanced security andintegrated facilities services model is the way forward in the longer term andwe saw ISS as an excellent opportunity to achieve this aim. However, followingthe announcement of the Acquisition, shareholders have raised concernsparticularly over its scale and perceived complexity against the backdrop ofcurrent macro-economic uncertainty.We consulted our leading shareholders ahead of announcing the transaction, andbased on the feedback received, felt confident to launch the deal. We have nowdiscussed the merits of this combination with a significantly larger number ofour shareholders and whilst they continue to express their overwhelming supportfor the standalone G4S business and its management, the Board has listenedcarefully to concerns raised by shareholders regarding the Acquisition and hasconcluded that in the circumstances it is inappropriate to proceed.G4S is a successful and well managed business. It has delivered year on yearearnings and dividend growth since the group was created in 2004 from the mergerof Securicor and Group 4 Falck. G4S has consistently generated returns oninvested capital well above its cost of capital, and delivered averageshareholder returns of 13.3% per year since the start of 2005.The Board and management of G4S remain focused on continuing to generatesustainable shareholder value and driving business success both organically andthrough targeted acquisitions."Nick Buckles, Chief Executive of G4S, said:"We are obviously disappointed that we have not been able to complete thistransaction. Â We felt strongly that the combination of G4S and ISS would createa market-leading integrated security and facilities services company which wouldbe well placed to meet the growing needs of customers and deliver significantinvestment returns at the same time.However, we respect the importance of shareholders' views and, on the basis offeedback received since the transaction was announced, we have decided not toproceed.Our strategy will continue to focus on providing higher value, integratedsecurity solutions to our customers and leveraging our expertise in key sectors,geographies and service lines. We will continue to acquire businesses which addcapability to G4S to help drive the business forward.The G4S business continues to develop positively with organic growth of 5% inthe first nine months of 2011."The Acquisition, together with the rights issue, was conditional, inter alia, onsecuring 75% shareholder support at a G4S shareholder meeting. There are nobreak fees payable pursuant to the termination of the SPA. The majority of thefees and costs to be paid in connection with the Acquisition and the rightsissue was only payable if the Acquisition completed. However certain of thesefees and costs, amounting to approximately £50 million, will be incurred by G4Sin any event. These fees relate principally to commitment fees in connectionwith the financing of the Acquisition, but also include the net costs ofderivative hedging instruments entered into to hedge the foreign exchange riskassociated with raising funds in sterling to effect a purchase in Danish Kroneand up to £2 million payable to ISS's auditors in relation to certain workcarried out in respect of the Acquisition. These fees and costs will be treatedas exceptional items in the G4S accounts for the year ended 31 December 2011.
Greek woes cause market turmoil
Stocks tumbled on Tuesday after investors were shocked by a surprise call for a Greek referendum on the EU bailout plan.
Unilever Sells division
Unilever said it has agreed to sell its Culver Specialty Brands division to B&G Foods Inc for $325M.
Capital Shopping Centres interim management statement
CEO David Fischel said in the Co's interim management statement for the period from July 1 to October 31: "As evidenced by a 97% occupancy level, CSC has delivered a robust operational performance in the period in the face of a challenging economic and retail background. CSC remains well positioned through its focus on leading and high quality regional shopping centres in the UK."
BG Group Chairman stands down
"Sir Robert Wilson has today announced his intention to stand down as Chairman of BG Group at the conclusion of the Company's Annual General Meeting in May 2012. He will be succeeded by Andrew Gould, currently Chairman of Schlumberger Lim ited."
WPP Q3 Results
"In the first nine months of 2011, reported revenues were up 7.1% at £7.170 billion, up 12.9% in US dollars to $11.573 billion and up 5.2% in Euros to €8.225 billion. In constant currencies, revenues were up 8.2%, chiefly reflecting the weakness of the pound sterling against most major currencies. On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were up 5.6% and the more relevant gross margin up 6.4%."
Hammerson sells stake in O'Parinor
Hammerson confirms that it has agreed to exercise the option to sell a further 24% interest in O'Parinor shopping centre, Aulnay-sous-Bois, near Paris to a client of Rockspring Property Investment Managers LLP ("Rockspring"). The sale was envisaged following the original disposal last year of a 51% stake in the property.
Shire Q3 2011 results
Angus Russell, Chief Executive Officer, commented:"Shire has delivered another strong set of quarterly results. Total product sales were up 28% to $1,018 million, with our newly acquired regenerative medicine product, DERMAGRAFT for Diabetic Foot Ulcers, contributing sales of$50 million in the quarter. We're on track to deliver significant 2011 earnings growth.Sales of our rare disease treatments were very strong: with VPRIV up 31% and REPLAGAL up 40% versus the same quarter in 2010. FIRAZYR, our self-administered treatment for acute attacks of Hereditary Angioedema, was approved by the FDA in August and launched just a few weeks ago; initial demand from patients has been positive. This week we have also initiated a rolling Biologics License Application for REPLAGAL in the US, designated Fast Track by the FDA.The US ADHD market continues to grow and with a strong `back to school'season, our portfolio of treatments has gained share. VYVANSE sales were up 32% and INTUNIV sales grew 50%.The investment in our product portfolio is already delivering benefits and we believe our R&D pipeline will provide important therapies to patients around the world. In addition to initiating Phase 3 clinical trials for VYVANSE as adjunctive therapy in Major Depressive Disorder (MDD), we're releasing highlights of exploratory data showing that cognition and executive function were improved in patients with MDD taking VYVANSE as adjunctive therapy. We've also released positive new clinical data related to our Phase 3 European ADHD clinical program. Overall, we've increased investment in our R&D programs by 21% compared to Q3 2010, and still generated good earnings growth and strong cashflows.Over the course of the year we've seen market expectations for Shire's 2011 earnings rise, with further increases in the last quarter. After these good third quarter results, and after taking account of the lower royalty income that we will be recording in future periods, we remain on track to meet these increased expectations. We anticipate that this will be another very good year for Shire as we deliver strong sales and continue our investment program for sustained future growth."
AstraZeneca 3rd Quarter results
Revenue for the third quarter declined by 2 percent at constant exchange rates (CER) to $8,213 million.
Kazakhmys Q3 production statement and IMS
Kazakhmys PLC Production Report for the Third Quarter Ended 30 September 2011 and Interim Management Statement
Royal Dutch Shell 3rd Quarter 2011 figures - dividend announced
ROYAL DUTCH SHELL PLC 3RD QUARTER 2011 UNAUDITED RESULTS
Glaxo third quarter 2011 results - boost dividend 6%
GSK delivers strong Q3 performance with underlying sales growth of 6% and reported sales growth of 3%
U.S. Market observations
After three up days, US stocks fell sharply on Wall Street during Tuesday, with investors nervous ahead of the euro summit and after a gauge of consumer confidence fell to a more than two-year low. The Dow fell 200 points at one point but recovered
Balfour Beatty Contract win
Balfour Beatty, the international infrastructure group, announces today that it has been awarded the £77.6 million M4/M5 managed motorways scheme construction contract, near Bristol, by the Highways Agency who manage, maintain and improve England's motorways and trunk roads.
International Power trading statement
"Revenue for the nine months ended 30 September 2011 was E12,344 million. Our enlarged portfolio of assets has continued to perform well and in line with our expectations. We continue to expect growth in 2011 with performance in the second half anticipated to be similar to the first half, despite the current economic backdrop."
Aggreko Trading Statement
"On an underlying basis (in constant currency and excluding the one-off impact of the FIFA World Cup as well as pass-through fuel), 3Q revenue grew by 22%. Headline revenue increased by 13%." Looking ahead, "Although the prospects for the global economy remain uncertain, the strength of our recent trading performance, and our view of the prospects for the fourth quarter, mean that we now believe that pre-tax profits for the year will be at least £320M. This represents underlying growth in profits for the year of over 24%."
Precis of Questor column in the daily telegraph
Yesterdays Questor column (05/10/20011) highlighted the attraction of Global companies with higher yields. Now, questor does not have our level of knowledge when it comes to dividends, but it is worth pointing out what the column highlighted.The first point for us to make is that all of the companies mentioned in the artcle are in our investment tools at www.dividendmax.com
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