DNA2, GKP, PU13: Unchartered dividend stocks to watch out for - Kalkine Media

July 24, 2022 07:30 AM BST | By Rishika Raina
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Highlights

  • BoE, Fed, and ECB are all going for interest rate hikes to counter the rising inflation.
  • ECB went for a rate hike for the first time in over 11 years on Thursday.
  • After going for a 0.75% rate hike in June, the Fed is now planning to go for another similar rate hike next week.

Not just the Bank of England (BoE), but other central banks are also walking a tightrope amid the escalating global inflationary crisis. Following the trend of rate hikes carried out by the BoE and Fed, the ECB also went for an interest rate hike for the first time in over 11 years on Thursday. Raising its key interest rate by 0.5%, ECB has signaled further hikes over the coming months. The interest rate, which was negative since 2014, now stands at 0.0%.

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After going for a 0.75% rate hike in June, the US Fed is now planning to go for another similar rate hike next week. As per news reports, Wall Street believes that the hike could be of a full percentage point. The benchmark short-term borrowing rates have been raised to 1.5% by the Fed this year, and this rate is also expected to rise further.

The deadly combination of the Russia-Ukraine war and the impact of the pandemic has resulted in supply chain bottlenecks and price hikes in industries across the globe. Food and energy prices have been hitting the roof, and they have led to rising household bills across nations. Central banks have been trying to control the growing inflation by raising the interest rates, but this stance of monetary policy tightening has led to fears of recession due to its impact on economic growth.

UK inflation levels have also reached a fresh 40-year high level of 9.4% in June. Amid these rising inflationary pressures, UK investors can go for the following lesser-known dividend stocks to strengthen their portfolios.  

Doric Nimrod Air Two Ltd (LON: DNA2)

The shares of the fund segment specializer, Doric Nimrod Air Two Ltd, were down by 1.07% at around 3 PM (GMT+1) on Friday, at GBX 92.50. With a negative EPS of -0.02, the market cap of the company as of 22 July stood at £167.57 million. As of Friday, it has provided returns of 21.95% and 33.75% to shareholders on an annual and YTD basis, respectively. The annual dividend yield currently offered by the company stands at a whopping 19.3%.

Gulf Keystone Petroleum Ltd (LON: GKP)

The shares of the independent oil and gas business, Gulf Keystone Petroleum Ltd, were up by 2.61% at around 3 PM (GMT+1) on Friday, at GBX 216.00. GKP’s market cap as of 22 July stood at £455.20 million. As of Friday, it has provided returns of 26.17% and 20.40% to shareholders on an annual and YTD basis, respectively. The annual dividend yield currently offered by the company stands at 17%.

Puma VCT 13 Plc (LON: PU13)

The shares of the Venture Capital Trust, Puma VCT 13 Plc, were trading at GBX 115.00 at around 3 PM (GMT+1) on Friday. With a positive EPS of 0.28, the market cap of the company as of 22 July stands at £60.27 million. As of Friday, it has provided returns of 21.05% and 21.06% to shareholders on an annual and YTD basis, respectively. The annual dividend yield currently offered by the company stands at 9.6%.

 


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