Astrazeneca full year results.

[idpickering]

AstraZeneca delivered a year of strong revenue growth, supported by the launch of new medicines1 and further
good progress on its pipeline, with several approvals and data readouts. These trends are set to continue in
2020, accompanied by growth in earnings and cash. In maintaining its focus on patients and science, the
Company remains on track to deliver its strategic ambitions.
Full-year Product Sales growth of 12% (15% at CER2) to $23,565m included fourth-quarter Product Sales of
$6,250m (+8%, +9% at CER). All three therapy areas and every sales region grew at CER in the quarter and
over the full year. Highlights for the year included:
- Sales of new medicines increased by 59% (62% at CER) to $9,906m, including new-medicine growth in
Emerging Markets of 75% (84% at CER) to $1,865m. New medicines represented 42% of total Product Sales
(FY 2018: 30%)
- Sales growth across the therapy areas: Oncology +44% (+47% at CER) to $8,667m, New CVRM3 +9% (+12%
at CER) to $4,376m and Respiratory +10% (+13% at CER) to $5,391m
- For the first time, around half of Product Sales in the year were within the specialty-care4 setting
- Sales growth across regions: total Emerging Markets sales increased by 18% (24% at CER) to $8,165m, with
China sales growth of 29% (35% at CER); China sales in the quarter increased by 25% (28% at CER) to
$1,189m. US sales increased by 13% in the year to $7,747m; Europe sales declined by 2% in the year (up
by 2% at CER) to $4,350m; Japan sales increased by 27% (26% at CER) to $2,548m
And later;

Dividend per share

Board reaffirms its commitment to the progressive dividend policy; a second interim dividend of $1.90 per
share (146.4 pence, 18.32 SEK) has been declared, taking the unchanged full-year dividend per share to $2.80
(218.3 pence, 26.81 SEK). Dividend payments are normally paid as follows:
- First interim dividend - announced with half-year and second-quarter results and paid in September
- Second interim dividend - announced with full-year and fourth-quarter results and paid in March
The record date for the second interim dividend for 2019, payable on 30 March 2020, will be 28 February 2020.
The ex-dividend date will be 27 February 2020. The record date for the first interim dividend for 2020, payable
on 14 September 2020, will be 14 August 2020. The ex-dividend date will be 13 August 2020.

https://www.astrazeneca.com/content/dam ... cement.pdf

RNS here; https://www.investegate.co.uk/astrazene ... 00059829C/

[kempiejon]

Board reaffirms its commitment to the progressive dividend policy; a second interim dividend of $1.90 per
share (146.4 pence, 18.32 SEK) has been declared, taking the unchanged full-year dividend per share to $2.80
(218.3 pence, 26.81 SEK).

Ah come on, unchanged since ye 2012 how much more progressive can they get.

[Arborbridge]

Board reaffirms its commitment to the progressive dividend policy; a second interim dividend of $1.90 per
share (146.4 pence, 18.32 SEK) has been declared, taking the unchanged full-year dividend per share to $2.80
(218.3 pence, 26.81 SEK).

Ah come on, unchanged since ye 2012 how much more progressive can they get.

Another fixed interest investment but with us carrying the risk

[idpickering]

Board reaffirms its commitment to the progressive dividend policy; a second interim dividend of $1.90 per
share (146.4 pence, 18.32 SEK) has been declared, taking the unchanged full-year dividend per share to $2.80
(218.3 pence, 26.81 SEK).

Ah come on, unchanged since ye 2012 how much more progressive can they get.

I hear you kempiejon. Disappointing to not get a rise, but it won't change my having AZN on board my HYP. They sit alongside GlaxoSmithKline in my HYP, both equally weighted in capital value terms, making up 7.2% of my 29 share HYP in those terms.

Happy to hold both, but not intending topping up either currently, even less so now.

Ian.

[kempiejon]

They sit alongside GlaxoSmithKline in my HYP, both equally weighted in capital value terms, making up 7.2% of my 29 share HYP in those terms.Happy to hold both, but not intending topping up either currently.

I had both unsheltered but only ANZ in the ISA, a few years of tax tidying saw the back of the unsheltered so only AZN in my HYP now and as you say not a current rising income buy. Still the income rolls in and I see in other news the value of my holdings is more than keeping pace with inflation.

[idpickering]

They sit alongside GlaxoSmithKline in my HYP, both equally weighted in capital value terms, making up 7.2% of my 29 share HYP in those terms.Happy to hold both, but not intending topping up either currently.

I had both unsheltered but only ANZ in the ISA, a few years of tax tidying saw the back of the unsheltered so only AZN in my HYP now and as you say not a current rising income buy. Still the income rolls in and I see in other news the value of my holdings is more than keeping pace with inflation.

Yeah, I'm happy to continue holding both pharmas. My HYP is all nicely tucked up in my ISA.

Ian.

[Arborbridge]

I hear you kempiejon. Disappointing to not get a rise, but it won't change my having AZN on board my HYP. They sit alongside GlaxoSmithKline in my HYP, both equally weighted in capital value terms, making up 7.2% of my 29 share HYP in those terms.

Happy to hold both, but not intending topping up either currently, even less so now.

Ian.

I just checked my own weighting and it's similar to yours: together they make 7.55% by capital, but supply only 5.19% of income. With AZN standing at nearly 1.5x median, there would be an argument for trimming and re-deploying to something with a higher yield - but there's no rush.

Arb.

[dspp]

Moderator Message:
see viewtopic.php?f=31&p=284179#p284179

[Bubblesofearth]

Another fixed interest investment but with us carrying the risk

There are no risk-free fixed interest investments.

Take long gilts as an example. Eyeballing prices, to get a 2.9% payout on your investment you would pay almost double the issue price. So, on maturity, you would lose about 50% of your money. And, of course, inflation would gradually erode the value of your annual income.

BoE

[Arborbridge]

Another fixed interest investment but with us carrying the risk

There are no risk-free fixed interest investments.

Take long gilts as an example. Eyeballing prices, to get a 2.9% payout on your investment you would pay almost double the issue price. So, on maturity, you would lose about 50% of your money. And, of course, inflation would gradually erode the value of your annual income.

BoE

I didn't say that there were risk free investments. There are some with considerably lower risk than a single company investment, rather than carrying all the risk.

[yorkshirelad1]

Board reaffirms its commitment to the progressive dividend policy; a second interim dividend of $1.90 per
share (146.4 pence, 18.32 SEK) has been declared, taking the unchanged full-year dividend per share to $2.80
(218.3 pence, 26.81 SEK).

Ah come on, unchanged since ye 2012 how much more progressive can they get.

Unchanged in USD (at $2.80), but doing nicely in sterling:

2014	53.1	125	178.1
2015	57.5	131	188.5
2016	68.7	150.2	218.9
2017	68.9	133.6	202.5
2018	68.4	146.8	215.2
2019	71.9	146.4	218.3

I hold AZN inside and outside ISA (also GSK)

[monabri]

Unchanged in USD (at $2.80), but doing nicely in sterling:

Maybe that's the game that AZN are playing - share price increases keep the US investors happy and the declining value of Sterling means the UK investors get a little more dividend as well ?

[idpickering]

I just checked my own weighting and it's similar to yours: together they make 7.55% by capital, but supply only 5.19% of income. With AZN standing at nearly 1.5x median, there would be an argument for trimming and re-deploying to something with a higher yield - but there's no rush.

Arb.

An hour ago I very nearly sold half my AZN holdings. My thinking was very much in line with your comment above. I've held AZN, on and off, since 17 Nov 2009, and my average buying price is 446.6p ps. I'm up 71.5% in capital value returns currently, ignoring dividends received. Then the doubt came in, and I gave myself a metaphoric slap and didn't do it. My reasoning was that they remain an important part of a solid base for my HYP, along with the likes of Unilever etc. Around that base I can enjoy the added diversification they also bring to my HYP, allowing me to hunt for higher yielders elsewhere. Glad I held firm, and in my HYP AZN will stay, and it saves on dealing fees too.

Ian.

[Bubblesofearth]

I didn't say that there were risk free investments. There are some with considerably lower risk than a single company investment, rather than carrying all the risk.

Not sure there are many investments where the purchaser doesn't carry all the risk? Of course some investments are lower risk but that usually comes with lower expected returns.

AZN are typical of many companies that raise the dividend for a period and then have to pause for breath. At least they've not cut it and there's every chance they will resume increases in the future when deemed prudent to do so.

Have to say I find it hard to grumble about a share that has delivered pretty stonking total returns for me since I purchased them over a decade ago.

They are also a good diversifier if you believe big Pharma worth holding, especially with an ageing demographic.

BoE

[moorfield]

by idpickering » February 14th, 2020, 7:32 am

Disappointing to not get a rise, but it won't change my having AZN on board my HYP.

by idpickering » February 14th, 2020, 11:59 am

An hour ago I very nearly sold half my AZN holdings.

Ian, you are your own worst enemy!!! I know you like to "picker" but one day you will do your portfolio some damage ...

May I suggest that if your overall portfolio income ain't broke, then don't fix it ... Or put differently, "don't just do something, stand there".

[idpickering]

by idpickering » February 14th, 2020, 7:32 am

Disappointing to not get a rise, but it won't change my having AZN on board my HYP.

by idpickering » February 14th, 2020, 11:59 am

An hour ago I very nearly sold half my AZN holdings.

Ian, you are your own worst enemy!!! I know you like to "picker" but one day you will do your portfolio some damage ...

May I suggest that if your overall portfolio income ain't broke, then don't fix it ... Or put differently, "don't just do something, stand there".

I hear you moorfield thanks. Just me being human I guess.

Ian.