AstraZeneca Results

[idpickering]

Over the first half, the strong sales growth from new medicines (+75%, +69% at CER1) and the continued strength of the Emerging Markets business (+14%, +10% at CER) were offset by the impact from the loss of Crestor exclusivity in Europe and Japan. In line with expectations, an improved performance is anticipated in the second half, notably Product Sales, where guidance is reiterated for a low single-digit percentage increase over the full year at CER. Important news flow from the pipeline is expected to continue beyond the rest of the year.

And later;

Dividends

The Board has recommended an unchanged first interim dividend of $0.90 (68.4 pence, 7.92 SEK) per Ordinary Share

https://www.investegate.co.uk/astrazene ... 00107978V/

[daveh]

Hidden in the bulk of the report

The record date for the first interim dividend for 2018, payable on 10 September 2018, will be 10 August 2018. The ex-dividend date will be 9 August 2018

[OZYU]

Hidden in the bulk of the report

The record date for the first interim dividend for 2018, payable on 10 September 2018, will be 10 August 2018. The ex-dividend date will be 9 August 2018

Hidden but easy to find: I always search for 'ex-dividend' to start with, very often only one hit, with the key dates, rather than searching for 'dividend', which can produce many hits before one gets to the dates.


Ozyu

[idpickering]

Hidden in the bulk of the report

The record date for the first interim dividend for 2018, payable on 10 September 2018, will be 10 August 2018. The ex-dividend date will be 9 August 2018

Thank you Dave. I was a bit slack due to delving through the higher number of on topic notifications this morning.

Ian.

[daveh]

Thank you Dave. I was a bit slack due to delving through the higher number of on topic notifications this morning.

Ian.

Not a problem, I failed to find it on my first flick through the report, in fact I must have read past it without seeing it as it was quite close to the dividend announcement you quoted which I'd spotted. I came on here hoping you would have already posted it and then had to go back and look with the search function - I just searched for 'dividends' which came up with 5 instances so it was easy to find.

Definitely a busy day for results - there seems to have been a drought of HYP company results (for me) for weeks and then several come along in just a couple of days.

[idpickering]

Thank you Dave. I was a bit slack due to delving through the higher number of on topic notifications this morning.

Ian.

Not a problem, I failed to find it on my first flick through the report, in fact I must have read past it without seeing it as it was quite close to the dividend announcement you quoted which I'd spotted. I came on here hoping you would have already posted it and then had to go back and look with the search function - I just searched for 'dividends' which came up with 5 instances so it was easy to find.

Definitely a busy day for results - there seems to have been a drought of HYP company results (for me) for weeks and then several come along in just a couple of days.

Thanks for that daveh. You are right regarding the lack of HYP results recently. I hold Reckitt Benctiser in my HYP, and their interims are tomorrow, but not much else.

Ian.

[pyad]

I see that AZN has repeated their usual standing joke in every set of accounts where they refer to their dividend as "progressive", despite the fact that the payout has been the same figure for a number of years.

If that's "progressive" I wonder how they might describe "held".

[moorfield]

Quite so pyad. AstraZeneca seem to have a penchant for fine directorspeak. I feel a little disappointed actually that we haven't been treated to some such blather like:

The dividend did not meet the primary endpoint of a statistically-significant increase of exacerbations in patients with shares.

[Breelander]

AstraZeneca seem to have a penchant for fine directorspeak.

Progressive dividend policy:
A progressive dividend policy is one where the dividend is expected to rise at least in line with increases in earnings per share. However, if earnings per share falls, the dividend will not be reduced.

https://www.financetalking.com/_popup-f ... php?id=863

As the eps was down for y/e 31/12/2017 but the dividend is unchanged it is technically possible to claim a 'progressive' dividend policy, if a tad misleading - but that's the purpose of 'Directospeak' after all

(Don't hold, so can just watch from the sidelines with amusement)

[Arborbridge]

With a held dividend and falling EPs, perhaps progressive, in this context, means 'progress towards having to borrow more to support the payout".

[Julian]

Quite so pyad. AstraZeneca seem to have a penchant for fine directorspeak. I feel a little disappointed actually that we haven't been treated to some such blather like:

The dividend did not meet the primary endpoint of a statistically-significant increase of exacerbations in patients with shares.

It might not have met the endpoint in terms of an increase in exacerbation but in terms of increase in exasperation this particular "patient with shares" is definitely experiencing an increase in that after so many announcements of a held divi.

- Julian

[Gengulphus]

... I hold Reckitt Benctiser in my HYP, ...

Do you hold Vodaphone as well? :-P

Gengulphus

[Dod101]

I see that AZN has repeated their usual standing joke in every set of accounts where they refer to their dividend as "progressive", despite the fact that the payout has been the same figure for a number of years.

Not quite true. Year 2014 Div 178.10P
Year 2015 Div 188.50
Year 2016 Div 218.90
Year 2017 Div 202.50
Interim for current year 68.40P

So the dividend has been progressive in every sense of the term until last year.

Dod

[tjh290633]

I see that AZN has repeated their usual standing joke in every set of accounts where they refer to their dividend as "progressive", despite the fact that the payout has been the same figure for a number of years.

Not quite true. Year 2014 Div 178.10P
Year 2015 Div 188.50
Year 2016 Div 218.90
Year 2017 Div 202.50
Interim for current year 68.40P

So the dividend has been progressive in every sense of the term until last year.

Dod

But AZN reports in US$ and declares it's dividend in that currency. They have been unchanged for several years. What you are seeing is exchange rate movements.

TJH

[PinkDalek]

... I hold Reckitt Benctiser in my HYP, ...

Do you hold Vodaphone as well? :-P

Gengulphus

One of those being far easier to misspell than the other:

viewtopic.php?p=151986#p151986

Yes, I do know what happened next.

[Dod101]

TJH

Thanks. That'll teach me, trying to be smart.

Dod

[idpickering]

... I hold Reckitt Benctiser in my HYP, ...

Do you hold Vodaphone as well? :-P

Gengulphus

Smiley accepted. Indeed I do Gengulphus, with Reckitt Benckiser weighing in at 2.8% in capital value terms in my 32 share HYP, and Vodafone weighing in at 3.6%.

Ian.

[Breelander]

... I hold Reckitt Benctiser in my HYP, ...

Do you hold Vodaphone as well? :-P

At the time I actually gave 'spelling' as one of the main reasons for kicking Indiviour Indivior out of my HYP on receipt.

[ADrunkenMarcus]

While accepting that the annual dollar dividend has been flat in nominal terms for a number of years now, I've held since 1998 and the dividend (in sterling) shows about 9% compound annual growth from 2000 to 2017. The nominal dividend yield on cost is almost 11% (real: over 7%) and dividends total about 125% of the book cost of the shares. It's delivered a good income and, hopefully, moderate dividend growth will resume in a few years' time.

As always, perspectives depend on the time period.

Best wishes

Mark.

[Arborbridge]

... I hold Reckitt Benctiser in my HYP, ...

Do you hold Vodaphone as well? :-P

Gengulphus

Smiley accepted. Indeed I do Gengulphus, with Reckitt Benckiser weighing in at 2.8% in capital value terms in my 32 share HYP, and Vodafone weighing in at 3.6%.

Ian.

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