Five Stocks Going Ex-Dividend: IMI, FOUR, LRE, VSVS, and SMP

IMI PLC

IMI plc (IMI) is a specialised international engineering company. The group is involved in manufacturing, servicing, and designing engineered products that control the movement of fluids. The operations of the groups are differentiated in three operating segments: IMI hydronic engineering, IMI precision engineering, and IMI Critical Engineering. The company’s brands comprise IMI FAS, IMI Maxseal, IMI CCI, IMI InterAtiva, IMI Remosa, IMI Buschjost, IMI Orton, IMI Bopp & Reuther, IMI Fluid Kinetics, IMI Norgren, IMI NH, and IMI Heroin.

Financial Highlights (H1 FY19, £ million)

(Source: Interim Reports, Company Website)

In H1 FY19, the company’s adjusted revenue declined by 1 per cent to £910 million as compared with the corresponding period of the prior year, driven by the lower divisional results and offset by favourable exchange movements. On a statutory basis, revenue decreased to £910 million in H1 FY19 against £914 million in H1 FY18. Adjusted operating margin stood at 13 per cent in H1 FY19, a decrease of 10 basis points against 13.1 per cent in H1 FY18. Adjusted profit before tax reduced by 3 per cent to £110 million in H1 FY19 as compared to the same period of the previous year. Adjusted basic earnings per share stood at 32.1 pence in H1 FY19, a decrease of 2 per cent against the 32.9 pence in H1 FY18. During the half-year of 2019, operating cash flow surged by 49 per cent to £101 million and net debt rose to £516 million from £459 million in 1H FY18.

Dividend

An interim dividend per share of 14.9 pence, representing an increase of 2 per cent, was declared recently by the group. Shareholders will be paid the dividend on 13th September 2019. The record date is as at the close of business on 9th August 2019, with an ex-dividend date of 8th August 2019.

Share Price Performance

Daily Chart as on August 09, 2019, before the market close (Source: Thomson Reuters)

On August 09, 2019, at the time of writing (before the market close, GMT 8:20 AM), IMI shares were quoting at GBX 965.60, down by 0.47% against the previous day’s closing price. Stock’s 52- week High and Low prices are GBX 1,237/GBX 867.50. IMI’s stock beta as on date stood at 1.25, reflecting higher volatility than the benchmark index. Total outstanding Mcap (market capitalisation) was around £2.64 billion, with a dividend yield of 4.22 per cent.

4imprint Group PLC

4imprint Group PLC (FOUR) is a London, the United Kingdom-based direct marketer of promotional merchandise, which sales and distributes promotional products in USA, Canada, the UK and Ireland. The group seeks to promote service, product or event of consumers to their target audiences through a wide range of products.

Financial Highlights (H1 FY19, $ million)

(Source: Interim Reports, Company Website)

In H1 FY19, revenues of the company were $405.1 million, an increase of 16% over the corresponding prior-year period. This increase was due to robust results across both existing and new customer orders. Profit before tax was $19.4 million in H1 FY19 and was up by 22% against the H1 2018 numbers, while the underlying profit before tax stood at $19.79 million in H1 FY19, representing a surge of 21% compared to an identical period. Basic earnings per share stood at 54.81 cents in H1 FY19, an increase of 22% over the previous year, while underlying basic earnings per share rose to 55.81 cents in H1 FY19 against the 46.03 cents in H1 2018. Cash balance at the end of the period stood at $42.7 million.

Dividend

An interim dividend per share of 20.52 pence, representing an increase of 29 per cent, was declared recently by the group. Shareholders will be paid the dividend on 17th September 2019. The record date is as at the close of business on 9th August 2019, with an ex-dividend date of 8th August 2019.

Share Price Performance

Daily Chart as on August 09, 2019, before the market close (Source: Thomson Reuters)

On August 09, 2019, at the time of writing (before the market close, GMT 8:25 AM), FOUR shares were quoting at GBX 2,906, down by 0.14% against the previous day’s closing price. Stock’s 52- week High and Low prices are GBX 3,140.6/GBX 1,765. FOUR’s stock beta as on date stood at 1.18, reflecting higher volatility against the benchmark index. Total outstanding Mcap (market capitalisation) of the stock was around £817.89 million, with a dividend yield of 1.99 per cent.

Lancashire Holdings Ltd

Lancashire Holdings Ltd (LRE) provides services related to reinsurance products and global speciality insurance in London and Bermuda.  The company mainly focuses on direct, short-tail and re/insurance risks under five business lines in which the company operates. The five business lines include Lloyd’s, aviation, energy, property and marine. The company presently has an employee base of around 215 professionals.

Financial Highlights (H1 FY19, $ million)

(Source: Interim Reports, Company Website)

For the first half of the financial year 2019, the company’s Gross premiums written were up by 9.45 per cent to $429.6 million from $392.5 million in H1 FY2018. Net premium written was down by 4.87 per cent from $234 million in H1 FY2018 to $222.6 million in H1 FY2019. The company’s net revenue stood at $240 million in H1 FY2019 versus $234.1 million in H1 FY2018. In H1 FY2019, the company’s net operating profit stood at $42.9 million as against $78.3 million in H1 FY2018. The PBT (Profit before tax) for H1 FY2019 stood at $40.5 million as against $74.9 million in H1 FY2018. The company’s profit after tax was $39.1 million in H1 FY2019 versus $75.8 million in H1 FY2018. The company’s diluted earnings per share were $0.19 in H1 FY2019 versus $0.38 in H1 FY2018.

Dividend

An interim dividend per share of 5 cents, was declared recently by the group. Shareholders will be paid the dividend on 6th September 2019. The record date is as at the close of business on 9th August 2019, with an ex-dividend date of 8th August 2019.

Share Price Performance

Daily Chart as on August 09, 2019, before the market closed (Source: Thomson Reuters)

On August 09, 2019, at the time of writing (before the market closed, GMT 8:30 AM), LRE shares were quoting at GBX 681.50, up by 0.44% against the previous day’s closing price. Stock’s 52 weeks High and Low is GBX 731/GBX 492.33. LRE’s stock beta as on date stood at 0.54, reflecting lower volatility against the benchmark index. Total outstanding Mcap (market capitalisation) was around £1.37 billion, with a dividend yield of 1.76 per cent.

Vesuvius PLC

Vesuvius PLC (VSVS) is a United Kingdom-based material technology company. The group is engaged in molten metal flow engineering, mainly serving the foundry and steel industries. The company manufactures and develops high-technology solutions and products for supplying to the casting and steel industries. The operations of the groups are organised in two segments: Steel and Foundry.

Financial Highlights (H1 FY19, £ million)

(Source: Interim Reports, Company Website)

In H1 FY19, the company’s reported revenue declined by 0.9 per cent to £889.4 million as compared with the corresponding period of the last year, due to the impacts of currency translation, acquisition and disposals. The trading profit was £98.9 million in H1 FY19, representing a 0.7 per cent decline than the same period in the previous year. Underlying revenue and trading profit decreased by 1.1 per cent and 0.5 per cent, respectively as compared to the same period last year. Headline profit before tax declined by 4.3 per cent to £93.2 million in H1 FY19 against the £97.4 million in H1 FY18, while PBT decreased by 10.5 per cent to £78.6 million in H1 FY19. In the first half-year of 2019, headline EPS stood at 23.7 pence, representing a decrease of 6.7 per cent against the corresponding period of the last year. Operating cash flow and net debt rose to £81.8 million and £307 million in H1 FY19. Cash generated from continuing operations was £101.7 million, an increase of 32.1 per cent against the £77 million in H1 FY18.

Dividend

An interim dividend per share of 6.2 pence, representing an increase of 3.3 per cent, was declared by the group. Shareholders will be paid the dividend on 20th September 2019. The record date is as at the close of business on 9th August 2019, with an ex-dividend date of 8th August 2019.

Share Price Performance

Daily Chart as on August 09, 2019, before the market closed (Source: Thomson Reuters)

On August 09, 2019, at the time of writing (before the market closed, GMT 8:35 AM), VSVS shares were quoting at GBX 479.60, down by 0.042% against the previous day’s closing price. Stock’s 52- week High and Low prices are GBX 663/GBX 469.40. VSVS’s stock beta as on date stood at 1.18, reflecting higher volatility against the benchmark index. Total outstanding Mcap (market capitalisation) was around £1.30 billion, with a dividend yield of 4.17 per cent.

St. Modwen Properties PLC

St. Modwen Properties PLC (SMP) is a United Kingdom-based holding company. The group works in the property industry from residential businesses, a network of regional offices, and through joint ventures with industry and public sector partners. The operations of the groups are differentiated in two operating segments: Portfolio and Residential development.

Financial Highlights (H1 FY2019, £ million)

(Source: Interim Reports, Company Website)

In H1 FY19, the net asset value (NAV) per share increased by 1.3% to 476.4 pence as compared to 470.2 pence in November 2018, while ERPA NAV per share surged by 1.8% to 492.5 pence in H1 FY19 (Nov 2018: 484 pence). Total accounting return rose to 2.2% in May 2019 (Nov 2018: 2.0%), in spite of a 1.2% drag from residual non-core retail. Adjusted EPRA EPS climbed 15.9% to 7.3 pence in May 2019 (Nov 2018: 6.3 pence) notwithstanding main disposals during 2018. In H1 FY19, see-through LTV (loan-to-value) increased by 3.8ppt to 20.7% (Nov 2018: 16.9%), driven by reinvestment of disposal proceeds. Profit for the half-year 2019 surged to £23.1 million, and basic EPS rose to 10.5 pence. In May 2019, the group net debt stood at £326.1 million.

Dividend

An interim dividend per share of 3.6 pence, representing an increase of 3.6 per cent versus last year (2018: 3.1 pence), was recently declared by the group. Shareholders will be paid the dividend on 4th September 2019. The record date is as at the close of business on 9th August 2019, with an ex-dividend date of 8th August 2019.

Share Price Performance

Daily Chart as on August 09, 2019, before the market close (Source: Thomson Reuters)

On August 09, 2019, at the time of writing (before the market close, GMT 8:40 AM), SMP shares were quoting at GBX 375.9, up by 0.24% against the previous day’s closing price. Stock’s 52-week High and Low prices were GBX 451/GBX 357.42. SMP’s stock beta as on date stood at 0.56, reflecting higher volatility against the benchmark index. Total outstanding Mcap (market capitalisation) was around £834.53 million, with a dividend yield of 2.03 per cent.

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