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Glance-STOCKS NEWS EUROPE-Tate & Lyle boosted by dividend hopes
Thu, 2nd Apr 2009 10:01
STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
08:40GMT 02April2009-Tate & Lyle boosted by dividend hopes
----------------------------------------------------------
Tate & Lyle shares rise 7.5 percent to 278-3/4 pence on hopes it
will maintain its dividend in line with inflation despite a warning that its
annual pretax profits will be marginally down for its year to end-March 2009.
Tate says it has cut debts, boosted cash flow and would stick with its
progressive dividend policy of increasing its payout broadly in line with
inflation which helped boost the shares which have a high dividend yield.
'Given the shares are yielding around 10 percent this is really the key,'
says analyst Charlie Mills at Credit Suisse.
For more information please click on
Reuters messaging rm://david.jones.reuters.com@reuters.net
08:35GMT 02April2009-K+S higher after buying Dow's Morton Salt
--------------------------------------------------------------
Shares in K+S rise 7.8 percent, making them one of the stronger
gainers among German large caps, after Dow Chemical said it
sold the Rohm and Haas salt business, Morton Salt, to K+S in a $1.68 billion
deal that it expects to close in mid-2009.
'While the acquisition is a slight deviation from the pure potash character
of K+S -- the potash share will be lowered to 45 percent from 54 percent -- we
believe the positive aspects outweight, especially considering possible
synergies in North America, where K+S can use Morten's strong brand name for
their present salt business and create operational synergies,' says Commerzbank
Stephan Kippe.
Merck Finck analyst Carsten Kunold says: 'We think the acquisition makes
sense as it suits very well to the existing salt activities of K+S.
The
indebtedness after the acquisition is still within decent levels as K+S was
nearly debt-free at the end of 2008.'
For more double click on
Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Stocks on the move Real-time Equity News
08:40GMT 02April2009-Tate & Lyle boosted by dividend hopes
----------------------------------------------------------
Tate & Lyle shares rise 7.5 percent to 278-3/4 pence on hopes it
will maintain its dividend in line with inflation despite a warning that its
annual pretax profits will be marginally down for its year to end-March 2009.
Tate says it has cut debts, boosted cash flow and would stick with its
progressive dividend policy of increasing its payout broadly in line with
inflation which helped boost the shares which have a high dividend yield.
'Given the shares are yielding around 10 percent this is really the key,'
says analyst Charlie Mills at Credit Suisse.
For more information please click on
Reuters messaging rm://david.jones.reuters.com@reuters.net
08:35GMT 02April2009-K+S higher after buying Dow's Morton Salt
--------------------------------------------------------------
Shares in K+S rise 7.8 percent, making them one of the stronger
gainers among German large caps, after Dow Chemical said it
sold the Rohm and Haas salt business, Morton Salt, to K+S in a $1.68 billion
deal that it expects to close in mid-2009.
'While the acquisition is a slight deviation from the pure potash character
of K+S -- the potash share will be lowered to 45 percent from 54 percent -- we
believe the positive aspects outweight, especially considering possible
synergies in North America, where K+S can use Morten's strong brand name for
their present salt business and create operational synergies,' says Commerzbank
Stephan Kippe.
Merck Finck analyst Carsten Kunold says: 'We think the acquisition makes
sense as it suits very well to the existing salt activities of K+S.
indebtedness after the acquisition is still within decent levels as K+S was
nearly debt-free at the end of 2008.'
For more double click on
Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
