Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Kingfisher increases sales forecasts for second half of year
Kingfisher [LON:KGF], owners of B&Q and Screwfix, have published interim results this morning for the six months to 31st July. Sales are up by almost 20% whilst operating profits have risen by more than 50%. This means shareholders will be rewarded with a close on 40% increase in the interim dividend. The company notes that ecommerce trading has performed exceptionally well, and that they are benefitting from a new generation of DIY-er, presumably a consequence of the pandemic lockdowns. Sales forecasts for the second half of the year have ben revised upwards.
#2. Dignity dividend remains suspended
Funeral provider Dignity [LON:DTY] published its interims for the 26 weeks to 25th June today. The tone of the note appears to be weighted on the downside with death rates now falling and discussion of regulatory changes in evidence, too. The dividend remains suspended until the company’s capital structure has been strengthened.
#3. Travis Perkins announce special dividend and share buy back
A note from Travis Perkins [LON:TPK] who have completed the sale process on its plumbing and heating division, a disposal which has been ongoing since May. Shareholders are in line for a windfall with a 35p per share special dividend and a £100m share buyback program, together accounting for around half of the £325m realised with the sale.