AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Wesfarmers Limited (ASX:WES) informed the market that it has agreed to sell its Bengalla Joint Venture stake of 40% to its JV partner New Hope for the total consideration of $860 million. On successful completion of the transaction, the group expects to report a pre-tax profit on the sale of $670 million to $680 million subject to completion adjustments. The group will continue to get benefited from earnings and cashflow from its interest in Bengalla until completion of the transaction.
[optin-monster-shortcode id="wxhmli4jjedneglg1trq"]As of now, Bengalla is owned 40% by the Wesfarmers, 40% by New Hope, 10% by Taipower and 10% by Mitsui. The transaction is subject to regulatory approval and pre-emption rights under the Bengalla JV Deed. Following completion of the transaction which is anticipated to occur in late 2018, New Hope will own up to an 80% interest in the Bengalla Joint Venture. Bengalla has the approval to produce up to 15 million tonnes of thermal coal, which is used in energy production and for export to Japan and North Asia.
With this news, the stock edged up 0.04 per cent and traded at $49.960 with the market-cap of circa $56.62 Mn as on August 07, 2018 (AEST â 03:30 P.M.).
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 companyâs 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. Kalkineâs team of analysts bought you handpicked report for âTop 25 Dividend Stocks For 2018.â
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.
Disclaimer
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.
