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Summary
- UK-based supermarket chain Asda said it will remove over 100 million single-use plastic bags from its stores every year and switch to reusable bags.
- The move comes after the supermarket conducted a trial in nine of its stores and received positive feedback from customers.
UK-based supermarket chain Asda on 19 March said it will remove 101 million single-use plastic pieces from its stores every year and switch to using reusable bags.
The move comes after the supermarket conducted a trial in nine of its stores and received positive feedback from customers and colleagues alike. The reusable fruit and veg bags will be priced at 30 pence each and made entirely from recycle plastic water bottles. It had sold an average of 30,000 such bags during the trial phase.
Also Read: Asda Pledges to Become Carbon Neutral By 2040
Separately, Asda CEO Roger Burnley announced he will step down next year, following the chain’s takeover, which was completed in February. The chain will be acquired by private equity firm TDR Capital and billionaires Zuber and Mohsin Issa in a £6.8 billion transaction.
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In this article, we take a look at FTSE-listed supermarket stocks with dividend yields of over 3 per cent:
- Tesco PLC (LON:TSCO)
UK-based supermarket giant Tesco is an FTSE 100 constituent and the largest supermarket chain in the UK. The company announced the introduction of sandwich shop Pret A Manger’s first grocery store range, on 15 March. The range will be available in 700 Tesco stores across the country and is part of Pret A Manger’s further expansion into packaged products.
Tesco’s shares were trading at GBX 227.00, up by 0.40 per cent as of 19 March at 13:20 hrs GMT+1, while the broader index FTSE 100 stood at 6,712.42, down by 0.99 per cent.
The company’s market cap stood at £17.481 billion, while its dividend yield was at 5.5 per cent. Its earnings per share was at 0.13 and its 12-month trailing price-to-earnings ratio was at 15.87.
- WM Morrison Supermarkets PLC (LON:MRW)
FTSE 100-listed grocery retailer WM Morrison is the fourth largest supermarket chain in the UK. The company announced on 11 March its preliminary results for the financial year ended on 31 January, with revenues up by 0.4 per cent to £17.6 billion from £17.5 billion a year ago.
The company’s pre-tax profit and exceptionals in FY 2021 were down by 50.7 per cent to £201 million. The pre-tax profit and exceptionals would have been £431 million, but due to the payment of waived government business rates relief worth £230 million, it fell to £201 million.
Moreover, the company expects its FY 2022 pre-tax profit and exceptionals to be higher than £431 million, excluding the business rates relief payment.
Morrison’s shares were trading at GBX 179.15, up by 0.82 per cent as of 19 March at 13:38 hrs GMT+1, while the UK food and drug retailers sector index stood at 4,169.59, up by 0.38 per cent.
The company’s market cap stood at £4.282 billion, while its dividend yield was at 4 per cent. It’s earnings per share was at 0.15 and its 12-month trailing price-to-earnings ratio was at 44.75.
