25 November 2015 2:08am MITIE Mitie’s interim results were weaker than expected due to its loss-making healthcare division. However, Liberum has decided to keep its headline earnings estimates unchanged, provided that the trading improves in the second half. The broker kept its “hold” recommendation and upped its target price from 286p to 300p, saying the group’s focus on its core facilities management business was “encouraging”.
Nov 24, 2015 at 05:30 Mitie interims down due to healthcare Outsourcing and energy services company Mitie (MTO) reported weaker-than-expected interim results yesterday that sent its shares sliding 9% to 302p.
Liberum analyst Joe Brent retained his ‘hold’ recommendation and target price of 286p on the shares, commenting: ‘Interim results a little weaker than we had expected due to healthcare (down 20% due to branch closures), but no exceptionals,’ he said.
‘Estimates left unchanged, despite H1 loss in healthcare. Order book and pipeline down slightly, with less ad hoc work, but 97% of work secure.’
Margins were also down in facilities management but Brent said there was no plan to change forecasts.
‘Mitie currently trades at a current year 2016 price/earnings ratio of 12.8x and a EV/EBIT of 10.1x which represents a discount to the sector – excluding Serco – of 13% and 19% respectively. We believe that it is encouraging that Mitie is focused on its core facilities management business, where it has a strong market position,’ he said.
EX-DIVIDEND date this Thursday 25/6/15 a payment of 6.50p paid on 4/8/15 div- information of interest below
Dividend information of interest DIVIDEND . helpful information/11 May '15EX-DIVIDEND DATE IS NOW ON A THURSDAYS AND THE RECORD DATE IS THE DAY AFTER FRIDAYS 7AM ON THE EX-DIVIDEND DATE THE SHARE PRICE IS REDUCED BY THE DIVIDEND PAYOUT AMOUNT . IN THIS CASE 6.50P
22/03/15 example of interest below
Do I qualify for a dividend, and when will it be paid? To qualify for a dividend payment you must be the owner of shares at the close of business on the working day before the ex dividend date. For example if the ex dividend date is 9th June: You would qualify if you buy/bought shares on or before the 8th June and did not sell before close of business on the 8th. You will not qualify if you buy/bought shares on or after the 9th June. As long as you buy/bought shares on the 8th or before then you can sell the shares on the ex dividend date and still qualify for a dividend.
MORE INFORMATION RE DIVIDENDS
Guide to Dividends and Income Investing What are dividends? Dividends are payments made by a company from its profits to its shareholders. They are generally paid either twice a year (in an interim and final dividend) or quarterly. Some companies will occasionally make one off payments known as special dividends. Dividend stocks are sought after by income investors and will play a part in a well-diversified stock portfolio. To receive a dividend, you must buy shares in the company concerned prior to, and hold for at least part of, the ex-dividend date; if you were to buy shares on the day itself, you would not be eligible for the dividend.
What happens on the ex-dividend date? On the ex-dividend date, the shares will typically fall by the amount of the dividend. If you hold shares in a company and do not realise it's the ex-dividend date this can obviously be quite alarming. It makes sense, however, as new buyers of shares in the company aren't eligible to receive the dividend essentially making the company worth less.
What about if I have a spread bet or CFD position open on a company which goes ex-dividend? If you have a position with a spread betting or CFD provider when a company goes ex-dividend they will typically credit (if you are long) or debit (if you are short) the amount of the dividend to compensate for the fall in share price.
What about tax on dividends and dividend tax rates? Anyone who receives dividends from UK companies have 10% taken off as taxation before the dividend is paid. Unfortunately, there's no way around this. However, higher rate taxpayers can avoid losing a further 25% to tax by holding the shares in a Self Invested Personal Pension (SIPP) or ISA.
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