- Michael Hill International in its Q3 trading update disclosed considerable increase in sales across all markets.
- Just Life Group declared its plans to take over the business of ‘About Health’, which is New Zealand’s main provider of natural nutritious supplements.
- Geneva Finance announced improved trading results in its FY21 earnings guidance.
Penny Stocks commonly refer to stocks trading less than a dollar. Being low priced, these penny stocks are highly volatile and speculative in nature. As a result, investing in penny stocks is considered to be quite risky. This calls for a wise and experienced decision-making while investing in these stocks.
These penny stocks attract small-time investors and traders as they are inexpensive and have the potential to grow into multibaggers. It becomes a whammy for the shareholders when they reap in dividends while making investments in these low-priced stocks.
Source: Copyright © 2021 Kalkine Media Pty Ltd
With this background, let us take a look at the 5 NZX penny stocks that have paid dividends to their shareholders.
Michael Hill International Limited
Michael Hill International Limited (NZX:MHJ; ASX:MHJ) had recently provided its FY21Q3 trading update, wherein the Company revealed 11.6% growth in sales for all stores.. Its digital sales for the said quarter were up 69.2% as compared to FY20 Q3.
Moreover, the Company’s loyalty program now boasts of more than 600,000 members.
MHJ had announced an interim dividend of AU1.5 cps payment, which was paid on 26 March 2021.
On 28 April, MHJ ended the day's trading session down by 1.16% at NZ$0.850.
Allied Farmers Limited
It is noted that ALF has partnered with NZL and has a 50% stake in the Company.
In November 2020, Allied Farmers had declared a fully imputed dividend of 1.2 cps, as disclosed in its F21 half-year report.
On 28 April, ALF ended the day's trading session down by 1.79% at NZ$0.550.
Just Life Group Limited
Just Life Group Limited (NZX:JLG) has recently announced its plans to acquire the business of ‘About Health’, which is NZ’s leading supplier of natural dietary supplements.
This acquisition of NZ$17 million will be funded through a mix of equity raising, plus new and existing debt facilities, and is anticipated to be settled on 30 April 2021.
Tony Falkenstein, Just Life Group CEO, stated that the Company continued to remain focused towards future acquisitions and growth.
JLG paid an interim dividend of 1.0 cps to its shareholders on 19 March 2021.
On 28 April, JLG ended the day's trading session down by 1.00% at NZ$0.990.
Asset Plus Limited
Asset Plus Limited (NZX:APL) has recently released its portfolio valuation for the six months ended 31 March 2021. Its NTA remained stable and was valued at 44.7 cps. This was a reflection of the valuation gains at 35 Graham Street and Stoddard Road, which neutralised the revaluation loss at Eastgate.
Moreover, towards the end of March 2021, its portfolio value stood at NZ$172.3 million.
APL declared gross dividend of 0.56 cps for the quarter ended 31 December 2020, which was paid to its shareholders on 3 March 2021.
On 28 April, APL ended the day's trading session at NZ$0.335, up 1.52% from its previous close
Geneva Finance Limited
Geneva Finance Limited (NZX:GFL) had recently disclosed its FY21 earnings guidance, wherein its expected NPBT to be slated between NZ$6.3 million to NZ$6.5 million, up 56% on the previous year.
This was because of the remarkable trading results across its various segments like consumer finance, insurance, and debt collections business units.
With improved trading position, the board has decided to declare its final dividend of 2.25 cps for March 2021.
On 28 April, GFL ended the day's trading session up by 5.36% at NZ$0.590.