Friday Email: 20 May 2016
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 FTSE 100 has been volatile again this week and is looking to end the week on a high note after falling away mid week on fears of a US rate hike. With this mornings bounce, it will end the week roughly level.
The past week has been quite busy with a good number of dividend declarations with big increases coming from Grainger, Booker, UDG Healthcare and the ever reliable DCC who have increased their dividend by almost 15% compound over the past 22 years since flotation.
Vodafone declared its last ever sterling dividend and from now on will present its results in Euro's and declare its dividend in Euro's. The base is 14.48 euro cents. The policy remains to grow the dividend each year in Euro terms.
SABMiller announced what will probably be its last dividend before its takeover by Anheuser-Busch InBev.
Taylor Wimpey announced its new dividend policy. The new dividend policy will start in January 2017. In 2016, shareholders will receive a total dividend (including ordinary and special dividends) of c. £357 million (c. 11.0 pence per share). In 2017, the group is targeting an ordinary dividend of £150m and special dividend of £300m to give a total of £450m, or c.13.8 pence per share; an increase of 25.4% from 2016. Going forward, the proposed special dividend will continue to be announced one year in advance at the half year results. The yield on the total payout is approaching 7%.
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Read next: 13 May 2016
The market is flat over the past 5 trading days and remains down on the year and it does have a bad feeling about it. Valuations look attractive but there is a nagging feeling that there are more falls to come. General economic malaise and the fear of the Brexit vote still hangs over the market.
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