Caltex (ASX: CTX) stock tumbled 7.868% to $30.680 as the company reported flat growth and cut in dividend for the half year ended 30 June 2018. Net profit after tax rose 1% using Replacement cost profit (RCOP) to $296 million in 1H18, negatively impacted by lower margin and ongoing store transition.
The fuel distributor reported 2% fall in earnings before interest and tax from $454 million in 1H17. Fuels and Infrastructure delivered weaker than anticipated earnings due to lower Caltex Refiner Margin (CRM). However, there has been increase in wholesale volumes underpinned by growth from B2B in diesel and jet along with extended partnership with Woolworths. Convenience Retail RCOP EBIT decreased 14% to $161 million at the back of rising crude and product prices in 2018.
Net debt at 30 June 2018 was $1,041 million. The increase in debt over the last 18 months reflects $526 million in acquisitions and investments in Seaoil, Milemaker and Gull NZ.
Interim dividend of 57 cents per share was declared which is 5% less than prior period. This interim dividend is payable on 5 October 2018 with record date of 10 September 2018.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.