Automotive Holdings Group Ltd.’s Trading ex-dividend

Trading ex-dividend: Automotive Holdings Group Ltd.’s stock plunged 1% on September 21, 2017 as the group traded ex-dividend. Last month, the group announced its annual results for the twelve months ending 30 June 2017 with revenue growth of 8% to $6,080 million. On the other hand, net profit after tax (NPAT) dropped 38% to $55 million at the back of one‐off costs associated with the Refrigerated Logistics transformation program, restructuring of the company’s operations, and cost down initiatives as highlighted in the May trading update. The group has still been consistent with its dividend policy of paying 65% to 75% of operating profit. Despite the shortcomings in automotive segment, the group expects a modest improvement in operating performance in 2018 and is putting efforts on cost reduction. The group expects to benefit from continued strong performance of dealerships in New Zealand, roll-out of easyauto123 fixed price used car warehouse model and ongoing improvement in Refrigerated Logistics.

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2 dividend-payers that slipped on ASX – Suncorp Group and Automotive Holdings Group

Update on new programs: Suncorp Group Ltd edged slightly lower on ASX on September 21, 2017 as the group provided an address from its CEO along with a market update. The group’s FY17 NPAT of $1,075 million represented a 3.6% increase over 2016; and the good top line growth, disciplined management of margin, and a sensible balance between reducing overheads and investing in the future led a healthy foundation for time ahead. SUN’s Insurance business also achieved an underlying result well ahead of the prior year 2016. The group has been able to mitigate the impact of major events like Cyclone Debbie, to a great extent in FY17 with the help of reinsurance programs; and has extended those arrangements into FY18. The generous dividend payments and ability to come-up with better products among peers can help Suncorp flourish further. Given this, the group has shed light on its two significant programs of work that include Business Improvement Program (aiming to digitise the customer experience, optimise sales and service, end-to-end process improvement, claims redesign and smarter procurement) to deliver net benefits of $10 million, $195 million and $329 million over the next three years, and acceleration of the Marketplace to deliver benefits faster. The group has also signalled to increase the dividend payout ratio for the period in view of the additional one-off investment associated with the programs. SUN will revert back to the 60-80% target range in FY19.

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Telstra witnessed a stock price slump of 6% on August 30 Traded ex-dividend

raded ex-dividend: Telstra witnessed a stock price slump of 6% on August 30, 2017 while the stock traded ex-dividend. Further, the group updated that the proposal to monetise a portion (worth between $5-5.5 billion) of its locked-in recurring nbn receipts, which was announced to the market on 17 August, did not receive technical consents from nbn co. The proposal was basically subject to agreement and a number of steps including approvals and consents from investors, the Commonwealth Government and nbn co. The proposal was well supported by equity and debt investors while nbn co did not approve of it. The nbn recurring payments have been expected to grow to about $1 billion annually by the end of nbn’s migration period. As per the company, proposed transaction showed the significant value in Telstra’s core underlying telecommunications infrastructure. Meanwhile, TLS had announced about their intention to combine Foxtel and Fox SPORTS Australia into a new Company, one that is well positioned to deliver premium sports as well as homegrown, original and international entertainment in a rapidly evolving and competitive marketplace. In this regard, TLS and News Corp will work to finalise the transaction, including obtaining regulatory approval, to be completed in the first half of 2018. Although there are challenges in the near term, the group’s efforts are expected to reap benefits in the long-term.

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Should you pocket these 2 Big Stocks – Telstra and Boral

raded ex-dividend: Telstra witnessed a stock price slump of 6% on August 30, 2017 while the stock traded ex-dividend. Further, the group updated that the proposal to monetise a portion (worth between $5-5.5 billion) of its locked-in recurring nbn receipts, which was announced to the market on 17 August, did not receive technical consents from nbn co. The proposal was basically subject to agreement and a number of steps including approvals and consents from investors, the Commonwealth Government and nbn co. The proposal was well supported by equity and debt investors while nbn co did not approve of it. The nbn recurring payments have been expected to grow to about $1 billion annually by the end of nbn’s migration period. As per the company, proposed transaction showed the significant value in Telstra’s core underlying telecommunications infrastructure. Meanwhile, TLS had announced about their intention to combine Foxtel and Fox SPORTS Australia into a new Company, one that is well positioned to deliver premium sports as well as homegrown, original and international entertainment in a rapidly evolving and competitive marketplace. In this regard, TLS and News Corp will work to finalise the transaction, including obtaining regulatory approval, to be completed in the first half of 2018. Although there are challenges in the near term, the group’s efforts are expected to reap benefits in the long-term.

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Eight Defensive Stocks – Should you pay a heed?

Growth in Funds from Operations: For H1FY17, Scentre Group reported 3.5% growth for Funds from Operations (FFO) at $638 million representing 12.01 cents per security (cps), and distribution of 10.86 cents per security, up 2%. Excluding the impact of transactions, FFO growth would have been approximately 5%. For the six months to 30 June 2017, profit for the group was $1.4 billion, including $929 million of revaluation gains driven primarily through continued growth in operating income across the portfolio and the completion of the Westfield Chermside redevelopment. Further, Scentre Group commenced $900 million (SCG share: $625 million) in developments with expected total returns of more than 15%. The group successfully completed the $355 million development at Westfield Chermside, setting a new benchmark in creating extraordinary retail and lifestyle destinations. Further, the group announced that it will extend its current practice to grow distributions at a lower rate than earnings growth until it reaches a payout ratio at 85% of FFO. The distribution is targeted to grow at 2% per annum until the target payout ratio of 85% is achieved.

 

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APRA advised that the bank’s Common Equity Tier 1 APRA’s reasonable 2020 CET1 target reiterated the confidence on the stock

APRA’s reasonable 2020 CET1 target reiterated the confidence on the stock: APRA advised that the bank’s Common Equity Tier 1 (CET1) ratio need to reach at least 10.5% by January 2020. However, the bank is on track to achieve this target with their CET1 ratio already reaching 10.1% on an APRA basis, as of March 31st, 2017. Moreover, the bank declared a $1.1997 distribution amount, while the reasonable APRA’s target wiped off the concerns over the bank’s ability to pay dividends. NAB is offloading 55% interest in its complementary asset consulting business (JANA) to the JANA senior management team. The bank recently launched a new product to enable Australians manage their superannuation in the lead up to and during retirement.

 

 

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Rio Tinto Limited (ASX: RIO) has reported a solid quarter for production, including record output at bauxite operations.

Rio Tinto Limited (ASX: RIO) has reported a solid quarter for production, including record output at bauxite operations. Iron ore production was in line with last year, although iron ore shipments were impacted by an acceleration in its rail maintenance program following poor weather in the first quarter. Pilbara operations produced 157.0 million tons (Rio Tinto share 128.7 million tons) in the first half of 2017, 2% lower than the same period of 2016 reflecting adverse weather conditions in the first quarter. Second quarter production of 79.8 million tons (Rio Tinto share 65.0 million tons) was slightly lower than the same quarter of 2016 and 3% higher than the first quarter. At the Silvergrass project, earthworks for the plant have been completed, installation of the conveyor is underway, and full commissioning remains on target for the fourth quarter of this year. Rio Tinto expects Pilbara shipments to be around 330 million tons in in 2017 (previously between 330 and 340 million tons) on a 100% basis.   

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BHP has approved a total of US$250 million (BHP Billiton Brasil) in financial support for the Renova Foundation and Samarco Mineração S.A.

BHP has approved a total of US$250 million (BHP Billiton Brasil) in financial support for the Renova Foundation and Samarco Mineração S.A. (Samarco) until 31 December 2017. The amount of US$174 million will be used to fund the Renova Foundation for remediation and compensation programs identified under the Framework Agreement (described in the Note below) (Programs). This amount will be offset against the Group’s provision for the Samarco dam failure. A short-term facility of up to US$76 million (BHP Billiton Brasil’s share) will be made available to Samarco to carry out remediation and stabilization work and to support Samarco’s operations. Funds will be released to Samarco only as required, and subject to achievement of key milestones. On 18 January 2017, Samarco and its shareholders, Vale S.A. (Vale) and BHP Billiton Brasil entered into a preliminary agreement with the Federal Prosecutors’ Office in Brazil (Federal Prosecutors) in relation to the Samarco dam failure (Preliminary Agreement). The Preliminary Agreement outlines the process and timeline for negotiation of a settlement of the BRL 155 billion (approximately US$47.5 billion) and BRL 20 billion (approximately US$6.1 billion) Public Civil Claims relating to the dam failure. The Preliminary Agreement also provides for the appointment of experts to advise the Federal Prosecutors in relation to environmental and socioeconomic impact assessment and review of the Programs being implemented by the Renova Foundation under the terms of the Framework Agreement.

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Three Iron Ore Stocks – BHP Billiton Ltd, Rio Tinto Ltd and Fortescue Metals Group Ltd.

BHP has approved a total of US$250 million (BHP Billiton Brasil) in financial support for the Renova Foundation and Samarco Mineração S.A. (Samarco) until 31 December 2017. The amount of US$174 million will be used to fund the Renova Foundation for remediation and compensation programs identified under the Framework Agreement (described in the Note below) (Programs). This amount will be offset against the Group’s provision for the Samarco dam failure. A short-term facility of up to US$76 million (BHP Billiton Brasil’s share) will be made available to Samarco to carry out remediation and stabilization work and to support Samarco’s operations. Funds will be released to Samarco only as required, and subject to achievement of key milestones. On 18 January 2017, Samarco and its shareholders, Vale S.A. (Vale) and BHP Billiton Brasil entered into a preliminary agreement with the Federal Prosecutors’ Office in Brazil (Federal Prosecutors) in relation to the Samarco dam failure (Preliminary Agreement). The Preliminary Agreement outlines the process and timeline for negotiation of a settlement of the BRL 155 billion (approximately US$47.5 billion) and BRL 20 billion (approximately US$6.1 billion) Public Civil Claims relating to the dam failure. The Preliminary Agreement also provides for the appointment of experts to advise the Federal Prosecutors in relation to environmental and socioeconomic impact assessment and review of the Programs being implemented by the Renova Foundation under the terms of the Framework Agreement.

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Telstra Corporation Ltd First mover advantage

First mover advantage: Telstra Corporation Ltd (ASX: TLS) stock recently reported that they are supporting the Australian Competition and Consumer Commission (ACCC) legal initiative against Vodafone regarding their decision on wholesale domestic mobile roaming. ACCC went against Vodafone decision of leveraging Telstra’s mobile infrastructure in regional and remote areas, where it has the least network coverage as compared to its peers. Moreover, recently ACCC decided to regulate high-speed internet services supplied by non-NBN fixed line networks. ACCC’s announced to set wholesale prices and other terms and conditions which would lead customers with several options to choose from. Telstra has a huge first mover advantage as the group invested more than $8 billion in the last six years for building Australia’s major and best mobile network with 15% of this investment directed to cover the last two per cent of Australia’s population. Telstra believes that ACCC decision would give all telecos to have the opportunity to invest in regional Australia and ensure more people can enjoy the benefits of future technology upgrades. Customers can enjoy the opportunities and benefits that 4G and in the future, 5G would offer to rural and regional Australia. Accordingly, Telstra is further investing $1 billion to strengthen their regional mobile coverage and expanding their 4G coverage to reach 99 per cent of the population. For the coming years, the group would see a further 1.4 million square kilometers of 4G coverage for regional and rural Australia. As a result, over 600 base stations would be upgraded from 3G to 4G, enabling the Australian population access to world-leading 4G networks. As per ACCC, Telstra’s fiber network prices would be $16.03 per port per month (Zone 1) for 2017 to 2018 and $21.10 per port per month (Zone 2) and $29.27 per Mbps per month for aggregation. An RSP would also need to be bought to Telstra’s wholesale line rental service, which is a further $20.69 per month.

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