Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM, I was a little surprised that NHC rose today after announcing a 7.7% fall in NPAT due to softer pricing. Consensus dividend was 22c but they announced 15c so I thought this would be received more negatively. Are 15c interim dividends going to be the new norm going forward? Thanks Peter
Hi Peter,
The market listened to you on Wednesday with New Hope (NHC) stock falling ~8% on the same day that fellow coal miner Whitehaven (WHC) was trading more than +5% higher with some switching between the two apparent. Tuesday’s punch to a fresh 7-month high did feel a bit rich with the FY25 result largely in line with expectations but the market clearly took an initial shine to the dividend reinvestment plan.
Downgrades followed on the Wednesday from Macquarie and Jefferies, with the stock down the most in over four months. Lots of volatility but the underlying stock hardly moved in aggregate.
We remain bullish and long NHC for yield in our Income Portfolio.
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