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fmg dividend forecast 2020

This information has been prepared without taking account of the objectives, needs, financial and taxation situation of any particular individual. FMG generated strong cashflows during the year, with net cash from operating activities increasing by 47% to US$6.4 billion. The mining giant exceeded market analysts' forecasts by also announced a higher-than-expected full-year dividend payout of $1 a share, bringing total dividends for the year to $1.76 a share. -A demonstration of just how much cash the company is generating Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. Iron ore miner Fortescue has unveiled a 281 per cent surge in its half-year profit to $US2.5 billion ($3.67 billion). Apple shares ended the session 1.8 per cent lower, as did shares in Apple supplier Qualcomm. Fortescue shareholders will receive an interim dividend of 76 cents per share, up from 30 cents for the same period in the previous year, meaning a big payday for the company's founder and biggest shareholder, Andrew 'Twiggy' Forrest. Travel company Webjet reported a 64 per cent drop in profit to $9 million, after the business was forced to write off $44 million due to the collapse of Thomas Cook, which was a customer of its WebBeds business. In the US, Wall Street resumed trade after a long weekend. Fortescue Metals Group Limited (FMG.AX) pays an annual dividend of A$1.76 per share, with a dividend yield of ∞. Revenue was US$12.8 billion, 29% higher than the prior year, while underlying EBITDA of US$8.37 billion was 38% higher than FY19. The conglomerate has admitted to underpaying Target staff, in addition to a previously flagged $15 million underpayment in its industrial and safety division, and short-changing Bunnings staff on superannuation entitlements. Ord Minnett expects such returns to be a feature of FY20. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non-guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 ("the Bank") and both entities are incorporated in Australia with limited liability. -Credit Suisse suggests iron ore prices are likely to peak in the September quarter Unusually, Fortescue Metals decided to pay a dividend outside of the standard reporting season and most brokers expect there will be plenty more. This has been accompanied by improved free cash flow, which has improved by 33% in the last year to $4.449 billion. QAN previously guided to either breaking even or at best recording a small underlying profit before tax. The broker does not expect a further dividend payment at the August results, although accepts the company did not rule one out. The broker expects an iron ore deficit over 2019. 2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form AUD 0.30000000 2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market? This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. The underlying result was ahead of the market’s low expectations, slumping 91% to $124m. Shares in Wesfarmers have also risen strongly (+3.6pc), despite revealing a $9 million provision for further staff underpayments. FNArena is proud about its track record and past achievements: Ten Years On, Click to view our Glossary of Financial Terms, © FNArena 2020. A pay-out ratio of 50-80% of net profit has been reiterated. ... Fortescue Metals Group. These sites are not affiliated with CommSec and may offer a different Privacy Policy and level of security. View announcements, advanced pricing charts, trading status, fundamentals, dividend information, peer … The result was well received by the market, with Webjet shares rising 11 per cent. Wesfarmers reported a 6 per cent increase in profit excluding discontinued operations, to $1.14 billion. 11 November 2020. In looking ahead FMG continues to forecast Iron ore shipments of 175 - 180mt, which is consistent with earlier guidance. Fortescue Metals Group Ltd (FMG:ASX) forecasts: consensus recommendations, research reports, share price forecasts, dividends, and earning history and estimates. View today’s FMG share price, options, bonds, hybrids and warrants. The consensus target is $7.42, signalling -17.1% downside to the last share price. Webjet said there had been some impact on bookings due to the coronavirus outbreak, which was expected to impact the current half of the financial year. FMG expects a result somewhere in the range of US$13.00 - US$13.50/wmt, which is based on a forecast exchange rate of AUD/USD 0.70. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non-guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 ("the Bank") and both entities are incorporated in Australia with limited liability. FMG's dividend dilemma as record profits meet price slump. Targets range from $5.94 (Morgans) to $8.70 (Macquarie). Deutsche Bank asserts timing made this payment unique, rather than the quantum. By lifting forecasts by 21% and 33% over 2019 and 2020 respectively, this substantially affects the broker's forecasts for Fortescue earnings. The average realised price for FMG’s ore rose by 21% over the year, up from US$65/dmt in FY19 to US$79/dmt in FY20. Capital expenditure is seen in the range of US$3.0 - US$3.4 billion. Exceptional strength in the iron ore price has particularly helped lower grade products and meant the company's profitability doubled in the second half of FY19. Citi points out the company may have acted early because of concerns around possible changes to Australian dividend imputation ahead of the election but, most certainly, it was about increased confidence in 2019 cash flow. FMG is benefitting from its recent reduction in debt, which means it is conservatively geared at 28%, compared to 45% as recently as 2016. UBS suggests recent momentum in the stock can be attributed to the confirmation that Vale's 30mtpa Brucutu mine will not re-start as anticipated. A surprise early dividend payment from Fortescue Metals ((FMG)) has put the focus on the bumper profits expected from the sector when iron ore companies report in August. Review FMG dividend yield and history, to decide if FMG is the best investment for you. All Rights Reserved. For larger peers Rio Tinto ((RIO)) and BHP Group ((BHP)) Deutsche Bank considers there is more potential for downward pressure on the iron ore price to weigh on these stocks, rather than increased dividend potential. The consensus target has risen from $4.75 at the start of 2019. As a result of the trends, the broker has lifted the June quarter realised iron ore price estimate to US$80.40/dmt. FMG generated strong cashflows during the year, with net cash from operating activities increasing by 47% to US$6.4 billion. © Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 ("CommSec") is a wholly owned, but non guaranteed, subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and both entities are incorporated in Australia with limited liability. Apple also warned demand for its products within China had been affected, due to store closures and reduced operating hours. C1 costs in the coming year are expected to edge higher from the $12.94/wmt result achieved in the last year. The date paid for this dividend was 02-10-2020. Macquarie expects a further $0.20 special dividend with the FY19 result, assuming a pay-out ratio of 80%. Start trading today with Australia's leading online broker. Underlying earnings increased 43 per cent to $86.3 million and shareholders will receive an interim dividend of 9 cents per share. Advertisement Skip to Content. Brokers suggest the dividend is a pulling forward of part, or all of, the dividend that otherwise would have been announced in August. The world's largest mining company BHP Billiton (ASX: BHP) may outperform Rio Tinto (ASX: RIO) and Fortescue (ASX: FMG) in 2020, as the risk of an iron ore price collapse hangs over the Big Australian's competitors.. Mathew Hodge, director of equity research resources at Morningstar, says he expect China's steel consumption to trend down, which will put downward pressure on the iron ore … Global markets fell overnight after tech giant Apple warned it would miss its quarterly sales target due to the impact of the coronavirus outbreak. FMG executed well with respect to production, processing, and shipping to deliver record annual shipments totalling 178.2 million tonnes (mt) in FY20, an increase of six per cent compared to 167.7mt in FY19, in the process exceeding the upper end of the group’s FY20 guidance for 177mt. Iron ore prices have rallied significantly this year in response to a supply shock caused by the Brucutu dam failure in Brazil. FMG will pay a final dividend of A$1.00 per share. Qantas (QAN) – Australia’s largest airline – has posted a massive $1.9bn FY20 loss for the 12 months to 30 June 2020. The stock is understandably trading higher on the news of the extra dividend, but the broker does not change its view that Fortescue Metals is trading beyond fair value on a 12-month basis.

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