Friday Email: 23 May 2014
Every Friday morning our lead analyst Mark Riding sends out his weekly run-down and upcoming events in the investor calendar, like this one:
The market has fallen so far this week as the difficulties encountered all year persist. This is a very tough market to call. A couple of our members raised some ideas this week and they are worth mentioning. The first raised was the recently floated Brit plc. If they meet the promises relating to dividends made in their prospectus, then there is a very healthy yield. They have been added to DividendMax. The ex-dividend dates are a bit of a guess as there are no comparables, but the dividend amounts are in line with their promises. The other mention was for Intermediate Capital Group, which has recently had a decent set of results and yet has been tonked by the market and is trading near its 52 week low. They go ex-dividend for 14.4p on the 11th June and they look attractive at these levels.
One of our small cap picks for the year, OPG Power Ventures produced very good results this week and is trading at its 52 week high of 100p at the moment. The still have a huge amount of capacity to come on stream this year and have promised a maiden dividend when the new capacity is generating cash. They still look very good given that all that they have achieved has been in a very difficult currency climate for them.
The big dividend increases (over 20%) in the past week were QinetiQ, Booker, Renew Holdings, Paragon and Big Yellow.
The shortened week ahead is pretty quiet with only 6 companies that we cover reporting in the UK. We are working on our next piece of research and some good ideas are emerging. Hopefully, it will be published next week.
The Friday email is delivered to over 20,000 subscriber’s every week, and remains a widely read run-down of recent events and what investors can expect in the week ahead written by our chief analyst Mark Riding.
It’s included as part of the free DividendMax trial.
Read next: 16 May 2014
The FTSE 100 was having a good week until yesterday we found out that US industrial production fell and it gave back almost 70 points in a couple of hours. Earlier in the day, the FTSE 100 had hit a 14 year high at 6890, but now we find ourselves once again at the 6850 resistance level that has proved so difficult to breach over the past 12 months. There were plenty of dividend increases this week, none of which were spectacular, but the picture has been one of steady growth. Compass announced a special dividend of 56p per share and a share consolidation. Details to follow: 'The special dividend will be paid on 29 July 2014 to shareholders on the register on 7 July 2014. Details of the share consolidation will be set out in a separate circular to shareholders' 3i Group also announced a special dividend.
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