High on robust earnings, Kogan (KGN), Harvey (HVN) pay high dividends 

  • February 26, 2021 01:10 PM AEDT
  • Ashish
    Ashish
    Financial Journalist Ashish
    145 Posts

    Ashish is a Financial Journalist with an experience of nearly 9 years in the field of economy, stock market and foreign affairs. He has also spent a few years in the corporate sector. A mechanical engineer with post-graduation in marketing and operat...

High on robust earnings, Kogan (KGN), Harvey (HVN) pay high dividends 

Source:Monster Ztudio , Shutterstock

Summary

  • Online retailers such as Kogan.com and Harvey Norman on Friday announced their earnings for the half year ended 31 December 2020.
  • Kogan.com declared a record dividend after reporting robust first-half earnings for the financial year 2021.
  • The board of Harvey Norman Holdings Ltd recommended the payment of a fully franked interim dividend of 20 cents per share.

Online retailers such as Kogan.com and Harvey Norman on Friday announced their earnings for the half year ended 31 December 2020. Both companies reported strong revenues during the given period and declared higher dividends than the year-ago period. These financial results would be tracked closely by investors to strategise accordingly going forward. 

Image Source: © Cmmeraydave | Megapixl.com

Kogan.com (ASX:KGN)

Kogan.com declared a record dividend after reporting robust first-half earnings for the financial year 2021. The company’s board announced an interim dividend of 16 cents per share, a jump of 113.3 per cent from the previous year. The company expected to pay the dividend on 31 May 2021. In 2020, the online retailer paid an interim dividend of 7.5 cents. The final dividend paid on 19 October 2020 was 13.5 cents per share. 

Kogan.com reported strong earnings on account of an impressive performance during the Black Friday trading period. The revenue jumped 88.6 per cent to A$414 million, while the net profit surged 164.2 per cent to A$23.6 million for the six months ended 31 December 2020. 

Image Source: © Jirsak | Megapixl.com

By 11:26 AM (AEDT), the shares of Kogan.com were trading at A$14.03, down 1.57 points, 10.06 per cent, from the previous closing on Thursday.

Harvey Norman (ASX:HVN)

The board of Harvey Norman Holdings Ltd recommended the payment of a fully franked interim dividend of 20 cents per share. The dividend would be paid on 3 May 2021 to the shareholders registered on 1 April 2021. The company paid an interim dividend of 12 cents per share in the corresponding period last year.

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The electronics and furniture retailer doubled its sales and profit for the half year ended 31 December of 2020. The profit after tax (PAT) and one-off items soared 115.8 per cent to a record A$438 million during the period. The revenue surged 27 per cent to $2.34 billion. Harvey Norman reported a net cash position of A$21.75 million. 

By 11:26 AM (AEDT), the shares of Harvey Norman were trading at A$5.08, down 0.22 points, 4.06 per cent, from the previous closing on Thursday.

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