SUL rallied another +1.6% on Monday, posting a fresh all-time high ahead of its 87c fully franked dividend on September 9th. This payout includes a 37c dividend and 50c Special dividend, both 100% franked, which equates to $1.24 inclusive of franking i.e. an 8.9% return on our $13.97 buy price for the Active Income Portfolio, purchased less than 4 months ago.
Following last week’s strong trading update, we remain bullish on this quality operator, believing the next 10-20% is still on the upside with an attractive dividend thrown into the mix, still a buy to us – an example of fund managers chasing quality stocks after the market’s volatility earlier in the month.
- We are bullish on SUL, initially targeting a test of $20, although it is likely to need a rest after trading ex-dividend next month. MM is long SUL in our Active Income Portfolio.
MM is long and bullish towards SUL
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