The S&P/ASX 200 (ASX: XJO) is expected to trade modestly higher today with the Sydney Futures Exchange pointing to a positive open. Right now, the ASX 200 is priced 0.41% from its 52-week high of 7051.6.
Making investment headlines today is WAM Capital Limited (ASX:WAM), JB Hi-Fi Limited (ASX:JBH) and Dicker Data Ltd (ASX:DDR).
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ASX 200 News Today
1. WAM Capital Limited
WAM Capital is an Australian Listed Investment Company (LIC), managed by Wilson Asset Management. The LIC’s portfolio tries to find undervalued or mispriced Australian shares to invest in and hold for both dividends and capital gains. Wilson also manages the WAM Global, WAM Research and WAM Leaders LICs.
WAM Capital this morning updated the market with its latest round of half-year results. WAM reported a dividend payment of 7.75 cents per share, fully franked. Chairman Geoff Wilson said the company was pleased to deliver “solid” investment portfolio outperformance during the period.
2. JB Hi-Fi Limited
JB Hi-Fi is one of Australia’s largest device and home appliance retailers with its network of The Good Guys and JB Hi-Fi stores. JB Hi-Fi was established in 1974 by Mr. John Barbuto (JB), trading from a single store in East Keilor, Victoria.
In an update today, JB Hi-Fi released its 2020 half-year financial report showing revenue of $3.99 billion, up $151 million on the prior period. At the bottom line, profit was $170.6 million, up $10.5 million. And on the cash flow statement, which is an important financial statement since it represents the underlying health of a business, operating cash flow was $284.5 million, up $4.2 million. Read more about JB’s result here: “JB Hi-Fi serves up big HY dividend”
3. Dicker Data Ltd
Dicker Data is Australia’s largest and oldest distributor of information technology products. Having started in 1978, it has been operating for over 40 years and was listed on the ASX in 2011.
This morning, the technology supplier delivered news of its final dividend for its 2019 financial year. Dicker expects to pay a dividend of 13 cents per share, which the company said takes the full-year dividends to 33 cents per share.
Dicker Data will release its 2019 financial report to investors around February 28th.
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