Following ContourGlobal's impressive FY20, it has released another positive update covering the quarter to 31st March. Management has re-iterated FY21 guidance of $770m-$800m EBITDA and the usual 10% dividend growth. It's surprising to us that the shares haven't re-rated given a 6.6% forward yield, especially where the first quarterly dividend has already been declared. This looks extremely attractive given the stability of the cashflows and the plentiful growth potential.
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ContourGlobal - Q1 Trading Update
- Published:
20 May 2021 -
Author:
Oliver Juggins -
Pages:
8
Following ContourGlobal's impressive FY20, it has released another positive update covering the quarter to 31st March. Management has re-iterated FY21 guidance of $770m-$800m EBITDA and the usual 10% dividend growth. It's surprising to us that the shares haven't re-rated given a 6.6% forward yield, especially where the first quarterly dividend has already been declared. This looks extremely attractive given the stability of the cashflows and the plentiful growth potential.