Companies Going Ex-Dividends Today - ABF, JMAT, KGF, SBRY, TW, VOD

Companies Going Ex-Dividends Today - ABF, JMAT, KGF, SBRY, TW, VOD

Associated British Foods

Associated British Foods PLC (ABF) is a London, United Kingdom-headquartered diversified international food, ingredients and retail group operating in 50 countries, with each business enjoying a high degree of autonomy in the running of their operations. The group has five reporting segments being Agriculture, Sugar, Ingredients, Retail and Grocery.

Financial Highlights (H1 FY2019, in £m)

(Source: Company Filings)

Revenue in the first half of FY 2019 stood at £7.5bn, which was 1% more than the last year on actual basis and 2% ahead on constant currency basis. While the statutory operating profit declined by 14% to £534m, adjusted operating profit of £639m was 1% lower at actual exchange rates and was 2% behind last year at constant currency. Basic earnings per share declined by 19% to 49.2 pence, while adjusted earnings per share at 61.1 pence were in line with the prior year data.

Dividend

An interim dividend of 12.05 pence per share, representing an increase of 3%, was declared by the group. Shareholders will be paid the dividend on 5 July 2019 in view of record date as at the close of business on 7 June 2019, with an ex-dividend date of 6 June 2019.

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:05 pm), ABF shares were trading at GBX 2,547, down by 1.12 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 2,846/GBX 2,011. The company’s stock beta was 1.07, reflecting roughly the same volatility as compared to the benchmark index. Total outstanding market capitalisation was around £20.40 billion, with a dividend yield of 1.76 per cent.

Johnson Matthey

Johnson Matthey PLC (JMAT) is a London-headquartered multinational speciality chemicals company. The company serves automotive, environmental, chemical, oil and gas, medical and other industries, with operations across North America, Europe and Asia. The group’s operations have been organised into four segments: Clean Air, Efficient Natural Resources, Health and New Markets.

Financial Highlights (FY2019, in £m)

 (Source: Company Filings)

The company reported revenue of £10,745m for the fiscal year ended March 2019, an increase of 5% over FY2018, while on an underlying basis, revenue grew by 10% in FY19 to £4,214m. Operating profit on reported basis surged by 48% to £531m and on an underlying basis, it rose by 8% to £566m. On a YoY basis, reported earnings per share surged by 38.7% to 215.2 pence per share. However, on an underlying basis, earnings per share reported a growth of 10% to 228.8 pence per share in FY2019.

Dividend

The company recommended an increase of 7% in the final dividend to 62.25p, after paying an interim dividend of 23.25p. This brought the total dividend for the year to 85.5p, increasing by 6.8% over the year and representing confidence in the group's prospects. The ex-dividend date is 6 June 2019, while the dividends will be paid on 6 August 2019.

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:10 pm), JMAT shares were trading at GBX 3,121, down by 0.44 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 3,873.00/GBX 2,574.00. The company’s stock beta was 1.54, reflecting more volatility as compared to the benchmark index. Total outstanding market capitalisation was £6.07 billion, with a dividend yield of 2.73 per cent.

Kingfisher Plc

Kingfisher Plc (KGF) is a London-headquartered home improvement company which offers products and services through a network of retail stores and online channels. The company's business operations are spread across ten countries, with a customer base of around 6 million users. The company business operations are spread across the United Kingdom, Ireland, France and Other International geographical segments.

Trading Update (Q1 FY2020)

(Source: Company Filings)

The group’s reported sales surged by 0.3% (on constant currency up by 1.7%) to £2.8 billion against the same period of the last year data, while LFL sales accelerated by 0.8%. The group reported positive sales growth in the first quarter and expectations for the full year were unchanged.

Financial Highlights (FY2019, in £m)

(Source: Company Filings)

Due to the 50 Screwfix outlets openings in the United Kingdom, the total sales surged by 0.3% (constant currency basis) to £11.68 billion, with like-for-like (LFL) sales were down by 1.6%. Reported retail profit declined by 11.3% to £753 million in FY19 as compared to £849 million reported last year, due to a significant decrease in the profit in France.

Adjusted basic earnings per share decreased by 9.2% to 19.8p. A decline of 6.3% was reported in underlying basic earnings per share to 23.9p.

Interim Dividend

With a final dividend of 7.49p, along with an interim dividend of 3.31p, the company announced a full-year dividend of 10.82p, same as the last year. The ex-dividend date is 6 June 2019, and on 15 July 2019 the final dividend will be paid by the group.

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:13 pm), KGF shares were trading at GBX 210.30, down by 3.53 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 319.70/GBX 202.70. The company’s stock beta was 0.76, reflecting less volatility as compared to the benchmark index. Total outstanding market capitalisation was £4.61 billion, with a dividend yield of 4.96 per cent.

J Sainsbury's

J Sainsbury's PLC (SBRY) is a British chain of supermarkets, operating primarily in the United Kingdom. The company engages in grocery-related retailing and retail banking with interests in property as well. The company's brands include Sainsbury's groceries, Argos, Tu, Sainsbury's Home, Habitat and Sainsbury's Bank. The group's operations are differentiated into four operating segments: Retail (Food), General Merchandise and Clothing, Financial Services & Property Investment.

Financial Highlights (FY2019, in £m)

(Source: Company Filings)

The underlying group sales were up by 2.1% to £32,412 million, despite a highly aggressive market. Sainsbury's Bank underlying profits were in line with guidance at £31 million, while retail underlying operating profit was up by 10.7% to £692 million. Due to non-underlying charges recognised outside of underlying profit, statutory profit after tax of £219 million was down by 29.1%, from £309 million reported in the prior year. Basic earnings per share decreased by 31.6% to 9.1 pence, while underlying basic earnings per share increased by 7.8% to 22.0 pence.

Dividend

The company recommended a final dividend of 7.9 pence per share (2017/18: 7.1 pence), keeping in line with the policy of paying a dividend that is covered 2.0 times by underlying earnings. Along with the final dividend, full-year dividend rose by 7.8% to 11 pence per share. The ex-dividend date is 6 June 2019, and the final dividend is payable on 12 July 2019.

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:17 pm), SBRY shares were trading at GBX 194.66, down by 3.8 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 341.80/GBX 193.20. The company’s stock beta was 1.03, reflecting roughly the same volatility as compared to the benchmark index. Total outstanding market capitalisation was £4.48 billion, with a dividend yield of 5.44 per cent.

Taylor Wimpey

Taylor Wimpey PLC (TW) is a British residential housing developer which operates at a regional level from 24 local offices across the country. It is one of the UK's largest residential developers and builds a wide range of properties, with a broad price range. The company’s operations are differentiated in two geographical segments: Housing United Kingdom and Housing Spain. The Housing United Kingdom segment is further sub-divided into North, Central and South West, London and South East (including Central London) and Corporate.

Financial Highlights (FY2018, in £m)

(Source: Company Filings)

The company reported an increase of 2.9% in total revenue to £4,082.0 million, mainly driven by improved completions both in Spain and the UK. Operating profit rose by 4.3% to £880.2 million, while profit for the year rose to 18.2% during FY18 to £656.6 million. The company's adjusted basic earnings per share were 21.3 pence in FY2018 as compared to 20.2 pence in FY2017. Basic EPS was up by 18.2 per cent to 20.1 pence in FY18 as compared to 17.0 pence in FY17.

Dividend

In addition to the total ordinary dividend for FY 2018 of 6.24 pence, the company will pay 10.7 pence per ordinary share, which would cost the company c.£350 million. The dividend will be paid on 12 July 2019 with ex-dividend date of 6 June 2019.

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:20 pm), TW shares were trading at GBX 155.60, down by 1.79 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 192.70/GBX 127.80. The company’s stock beta was 0.94, reflecting less volatility as compared to the benchmark index. Total outstanding market capitalisation was £5.55 billion, with a dividend yield of 3.69 per cent.

Vodafone Group

Vodafone Group PLC (VOD) is a telecommunication company providing a range of services including mobile communication, fixed communication, unified communication, internet of things (IoT), cloud hosting and security & carrier services. The company is primarily operating in two geographies, Europe and AMAP (Africa, the Middle East and the Asia Pacific) which include 25 countries.

Financial Highlights (FY2019, in €m)

 (Source: Company Filings)

Due to the impact of the adoption of IFRS 15 and changes in the foreign exchange rate, reported revenue decreased by 6.2% to €43.7 billion, while organic service revenue surged by 0.3% to €39.2 billion. Adjusted EBITDA rose by 3.1% (organic) to €14.1 billion, due to the decrease in the operating expense of €0.4 billion. Adjusted earnings per share were €5.26 cents, a decrease of 54.6% as compared to €11.59 cents in FY2018.

Dividend

Compared to 10.23 eurocents as final dividend declared in the prior year, 4.16 eurocents was declared in FY19, resulting in a total dividend for the year of 9 eurocents, which was declined by 40%. The dividend is payable on 2 August 2019, and the ex-dividend date for the final dividend is 6 June 2019

Share Price Commentary

Daily Chart as at June-06-19, before the market closed (Source: Thomson Reuters) 

On 6th June 2019, at the time of writing (before the market closed, GMT 12:25 pm), VOD shares were trading at GBX 128.78, down by 3.2 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 194.54/GBX 122.22. The company’s stock beta was 1.27, reflecting more volatility as compared to the benchmark index. Total outstanding market capitalisation was £35.60 billion, with a dividend yield of 5.88 per cent.

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