Friday Email: 30 September 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:
That was a surprisingly active week that began with the September blues and the FTSE 100 falling quite sharply on Monday and Tuesday from 6911 to 6777 before bouncing back on Wednesday and Thursday to 6930 for a small gain on the week until then. That looks to be reversed somewhat in Friday trading as fears over Deutsche Bank take center stage. At the open we are down almost 100 points.
The past week saw some very good dividend increases from MJ Gleeson (45%), Next Fifteen (25%), S&U (20%), XL Media (47%), Netcall (36%) and finally the mortgage Advice bureau who increased by 59%. The company that caught my eye were XL Media, who produced very strong numbers indeed and produced a very bullish outlook statement. The market rewarded the numbers with no move at all and as a result of dividend upgrades, they are now towards the top of the Optimizer. They trade at 89p per share on a PE of under 10 (ex-cash 8x). They have a very healthy net cash position. The interim dividend was declared at 3.8205 cents (Approx 2.94p) going ex on 6th October and paid on 4th November. I would be interested to hear the views of members on this one.
The week ahead is very quiet on the reporting front which is good because I am going for a short holiday in Sicily. That said on the ex-dividend front on the 6th October it is a huge week with almost 50 companies going ex; Very good payouts of over 3% come from Photo-me International, XL Media, Central Asia Metals and Begbies Traynor. Other significant dividends come from Sky, Mortgage Advice Bureau and Alumasc.
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