Dividend Portfolio: Thorn Group (ASX: TGA)
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Overview: Thorn Group Limited, together with its subsidiaries, engages in leasing household goods and motor vehicles in Australia. It operates through four segments: Consumer Leasing, Credit Management, Equipment Finance, and Thorn Financial Services. The company offers a range of audio/visual products, kitchen and laundry appliances, computers, furniture, and fitness equipment through its Radio Rentals and Rentlo national store network. Thorn Group Limited operates 90 outlets.
Dividend: TGA is releasing a fully franked dividend of $0.065, taking effect on the 17 th of June. Historically, the dividend paid is on par with previous years and currently represents a yield of approximately 2.8%. The annual dividend yield for this stock is approximately 4.75%. The dividend is payable after 30 days following the ex-dividend date.
A monthly peer comparison indicates an above-average yield for a stock with such liquidity.
Investment View: Thorn Group’s recent price action has shown considerable strength with a breakout of previous monthly consolidation. Our investment view incorporates a continuation of share price demand as well as the payment of a fully franked dividend following ex-date.
Protective stop losses are advised at a level of $2.15 to safe-guard against negative downside in the stock.
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S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
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