Marston's Prelims

[idpickering]

- Profit growth in all trading segments

- Operating cash flow up 17% to £213.6 million, offset by initial working capital impact from Charles Wells Beer Business ("CWBB")

- Pro-forma leverage down 0.1x to 4.7x, fixed charge cover unchanged at 2.6x

- Return on capital of 10.7%, 94% freehold asset base, NAV 147p per share

And later;

final dividend for 2017 of 4.8p per share amounting to £30.4 million has been proposed for approval at the Annual General Meeting, but has not been reflected in the financial statements.



Subject to approval at the Annual General Meeting, this dividend will be paid on 29 January 2018 to those shareholders on the register at close of business on 15 December 2017.

https://www.investegate.co.uk/marston-s ... 00039040X/

[idpickering]

Quite obviously well received by the market, as the SP is up 9% to 116.5p. That miserly one pence increase in the dividend is a bit of a concern though maybe?

Ian.

[monabri]

The full year divi has been increased. For me, I'm happy considering the general sentiment of this sector is neutral to pessimistic (GNK shorting/ recent GNK discussions on TLF/ share price trajectories). I note that Divi cover is maintained at 1.9x.

[tjh290633]

I see that GNK have left their interim unchanged, so let's not quibble over a 2.7% increase in Marston's annual dividend.

TJH

[idpickering]

I see that GNK have left their interim unchanged, so let's not quibble over a 2.7% increase in Marston's annual dividend.

TJH

Yeah Terry, looking at it like that, along with positive results, what's not to like?

Ian.

[idpickering]

This from TMF;

A cheap 7% yielder that could make you rich

Marston’s (LSE: MARS), for a long time a favourite among dividend chasers, sank to fresh five-and-a-half-year lows around 100p per share in the wake of the news. But a bubbly trading statement on Thursday has seen stock-pickers pile in with gusto again — it was last dealing 10% higher at pixel time.

http://www.fool.co.uk/investing/2017/11 ... -you-rich/