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Kier Group - Final Results

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idpickering
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Kier Group - Final Results

#167609

Postby idpickering » September 20th, 2018, 7:15 am

Good performance in line with our expectations

· Underlying revenue2 up 5%, underlying profit from operations3 up 10% and underlying EPS3 up 9%

· Record Construction and Services order book of £10.2bn

· Proposed full year dividend per share increased by 2% to 69.0p (2017: 67.5p) and on track for 2x cover target in FY20.


And later;

Dividend

The Board is recommending a full-year dividend of 69.0 pence per share (2017: 67.5 pence per share), up 2%, as cover continues to be built to 2x by FY20. Subject to shareholder approval, the final dividend of 46.0 pence per share will be paid on 3 December 2018 to shareholders on the register at close of business on 28 September 2018. As an alternative to the cash dividend, shareholders will again be offered the option to participate in a Dividend Reinvestment Plan (DRIP). The deadline for shareholders to submit their instructions to participate in the DRIP in respect of the final dividend is 5.30 p.m. (London time) on 6 November 2018.


https://www.investegate.co.uk/kier-grou ... 00133328B/

OZYU
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Re: Kier Group - Final Results

#167617

Postby OZYU » September 20th, 2018, 8:18 am

No surprises, Final as pencilled in as it follows exactly the interim increase.


These results ought to give the shorters food for thought, and Mr Market should respond positively, but in these fickle times who knows...


Ozyu


Disc I hold, just under median in my HY ISA.

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Re: Kier Group - Final Results

#167625

Postby monabri » September 20th, 2018, 9:15 am

Initially up 5%, then down 4% and back up by 5%...good job the dividend has increased ( a little but below RPI :( ..the increase I take as positive in view of general sector sentiment).

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Re: Kier Group - Final Results

#167637

Postby OZYU » September 20th, 2018, 9:56 am

monabri wrote:Initially up 5%, then down 4% and back up by 5%...good job the dividend has increased ( a little but below RPI :( ..the increase I take as positive in view of general sector sentiment).


Yes, a wild SP action so far today, not that it matters in the long run. I see this stock as under-priced, should be trading nearer £12 imho if they get the cover to their target, as this is no CLLN at all imho, but that mud is still sticking.

I dislike, and make no secret of it, all divis which fail to increase by RPI, (including held divis from a few elephants), as this makes them cutters in my book. But we can't have everything we wish for in this life. As long as, in my HY ISA, the divi per Inc unit rolling increase remains we'll above RPI I am content, providing my inc unit behaves too in a similar vein. If on a rolling long enough basis, the latter should falter, then, simple, I would be chasing yield too much. These are the basic requirements of an income oriented portfolio imho. I take no notice at all of market cap in picking stocks, never have done. HY itself depends on your level of wealth and requirements, so imho there is no absolute measure which applies to all investors.

In the case of KIE, while they are building up to their planned cover of 2 by 2020, I am more tolerant. For now. Held since 2004.


Ozyu


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