Month: October 2022

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) remains on course to record a decent gain. At the time of writing, the benchmark index is up 0.75% to 6,836.2 points.

Four ASX shares that have failed to follow the marker higher today are listed below. Here’s why they are falling:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down a further 2% to 65.5 cents. This semiconductor company’s shares have been absolutely smashed over the last two trading sessions following the release of a terrible quarterly update. That update revealed paltry cash receipts of $118,000, a difficult operating environment, and further cash burn. Surprisingly, Brainchip still has a market capitalisation over $1 billion despite these declines.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down over 10% to 39 cents. This follows the release of a disappointing quarterly update from the junior infant formula company. Although Bubs recorded solid quarter sales growth thanks largely to currency tailwinds and supply shortages in the United States, it continues to operate at a loss. In addition, management warned that there is an oversupply of infant formula in the China market, making trading conditions particularly tough.

EML Payments Ltd (ASX: EML)

The EML share price has crashed 30% to 44 cents. This morning the embattled payments company revealed that it will temporarily cease onboarding new customers, agents, and distributors to its UK subsidiary, Prepaid Financial Services. This follows concerns raised by the UK Regulator, the Financial Conduct Authority (FCA).

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 1.5% to $14.55. Investors have been selling the iron ore giant’s shares on Monday after the price of the steel making ingredient tumbled again. Traders were selling down the iron ore price below US$80 a tonne amid concerns over softening demand in China and increasing supply.

The post Why Brainchip, Bubs, EML, and Fortescue shares are falling today appeared first on The Motley Fool Australia.

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More reading

• EML shares plummet 30% as regulatory update takes its pound of flesh
• Why is the Bubs share price sinking today when the ASX All Ords is roaring?
• Why I chose to buy Fortescue shares over BHP
• Down more than 80% in 2022, are these ASX All Ords shares now screaming bargains?
• Brokers say there’s more pain ahead for the Fortescue share price

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended BUBS AUST FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Despite dropping 33% year to date, GameStop (NYSE: GME) stock is still up by a jaw-dropping 2,400% from the roughly $1.00 per share it was worth in early 2020. The company is flying high after the meme stock rally jacked up prices of heavily shorted equities.

But despite its lofty price tag, GameStop’s fundamentals still leave much to be desired. Long-term investors should stay far away. Here’s why.

A business in terminal decline?

Founded in 1984, GameStop has its roots as a brick-and-motor retail chain focused on new and used video game software. But like many companies that started in that period, its core business model became outdated with the rise of e-commerce, streaming, and digital downloads. And while GameStop has lasted much longer than other 80s babies like Blockbuster Video (which went bankrupt in 2010), the future looks bleak. 

GameStop’s revenue has fallen 37% (from $9.55 billion to $6.01 billion) between 2012 and 2021. And the company has seen its market eroded by direct-to-consumer rivals like Valve Corporation’s Steam, which allows users to download content directly from its platform. 

GameStop still has an economic moat as a place to buy and sell used games, but it is unclear if that niche will be enough to keep the company afloat. Forays into new businesses, such as non-fungible tokens (a form of digital collectibles), are yet to materially impact financial statements. And management’s cryptocurrency efforts look more like a way to maintain hype for the stock than actually turn the business around, although time will tell.  

Second-quarter earnings were not impressive

GameStop’s second-quarter earnings were lackluster. Net sales dropped 4% year over year to $1.14 billion because of a decline in software and hardware sales. And operating losses expanded from $58 million to $107.8 million in the period. That said, with $908.9 million in cash and just $32.1 million in long-term debt, the company has a healthy balance sheet.  

Instead of funding itself through cash flow and bond offerings, GameStop sells more shares of its (arguably) overpriced stock. This is the right thing to do from a business perspective, but it can harm shareholders by diluting their claim to future earnings, which lessens the fundamental value of their shares.

As of the second quarter, GameStop’s outstanding shares totaled 304 million compared to just 66 million in early 2020. Investors should expect this number to continue growing because of the company’s operational losses.

The valuation is simply too high

With a price-to-sales (P/S) ratio of 1.4, GameStop’s stock doesn’t look super overvalued compared to the S&P 500’s average of 2.3. But those numbers don’t tell the full story. The company operates in what appears to be a dying industry, with revenue eroding over the long term; plus, it isn’t profitable and funds itself through equity dilution.

GameStop’s valuation should be much lower in light of its many challenges. And investors should avoid the stock because of continued risk to the downside. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why I wouldn’t touch GameStop stock with a 10-foot pole appeared first on The Motley Fool Australia.

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More reading

• Here’s why the Origin share price is storming higher today
• Here’s how the NAB share price has fared in October
• TPG shares lift after revealing plans of ‘unlocking’ more value
• 3 ASX All Ords shares starting the week on fire
• Why is the Nickel Industries share price leaping 6% today?

Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Origin Energy Ltd (ASX: ORG) share price is starting the week in fine form.

In afternoon trade, the energy company’s shares are up 3% to $5.58.

Why is the Origin share price pushing higher?

Investors have been buying Origin’s shares today after the company released its quarterly update.

According to the release, Australia Pacific LNG revenue for the first quarter came in at $2,768 million. This is an increase of 1% on the prior quarter and a massive 64% on the prior corresponding period.

This was driven by higher realised oil prices, which helped offset a 2% quarter on quarter decline in production to 167.5 PJ due to wet weather impacting access to wells.

Looking ahead, management notes that the outlook for the LNG trading business has improved. This is particularly the case for FY 2025, where hedging at favourable market prices has resulted in an expected LNG trading EBITDA of $350 million to $550 million. Though, this outlook remains subject to market prices on unhedged volumes, operational performance, and delivery risk of physical cargoes, shipping, and regasification costs.

Energy markets

The release also notes that electricity and gas spot prices reduced when compared with the June quarter but remain considerably higher than a year ago. This is due to higher international coal and gas prices.

Total electricity sales volumes rose 8% year on year during the first quarter. While retail sales volumes fell by 2% due to the continued increase in solar uptake and energy efficiency, business volumes gained 18% on new customer wins.

‘Market conditions have improved’

Origin’s CEO, Frank Calabria, appeared to be pleased with the quarter and the improvement in market conditions. He said:

Market conditions have improved following the incredibly challenging June quarter during which we experienced significant power supply challenges and elevated wholesale prices across the NEM. Australia Pacific LNG delivered a very solid $2,768 million in revenue for the quarter, relatively steady on the June quarter but up 64 per cent on the prior year, due to higher realised oil prices. This quarterly performance was particularly strong given the impact of wet weather and planned downstream maintenance.

In Energy Markets, net new business customer wins drove electricity sales volume growth, offsetting weaker retail sales volumes due to improvements in energy efficiency and an increase in solar uptake.

In line with our strategy, we continued to invest in renewable and cleaner energy and customer solutions during the quarter with a $163 million (£94 million) investment to maintain our 20 per cent stake in the leading UK energy and technology company, Octopus Energy, and $6 million for the acquisition of the 60 MW Yanco Solar Farm development in the NSW Riverina.

The post Here’s why the Origin share price is storming higher today appeared first on The Motley Fool Australia.

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More reading

• 5 big ASX announcements making news this week
• Origin share price higher on earnings guidance update
• Here are the top 10 ASX 200 shares today
• Why Jumbo, Origin, Qantas, and Woodside shares are racing higher
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Well, it’s the last day of October 2022 (Happy Halloween). As such, it’s always a good time to look back at the month that (almost) was and see how some of the S&P/ASX 200 Index (ASX: XJO)’s most prominent shares fared.

So today. let’s check out the National Australia Bank Ltd (ASX: NAB) share price.

NAB shares have been a standout ASX 200 performer over 2022 thus far. This ASX big four bank is currently trading at $32.38 a share at the time of writing, up 1.17% for the day thus far. That puts NAB up a very pleasing 10.12% year to date in 2022. Not bad at all when the ASX 200 remains down by around 10% over the same period.

But how has NAB fared over this tenth month of the year?

Well, NAB shares ended September at a price of $28.81. That puts the bank at a very pleasing gain of 12.36% as it currently stands, well over the ASX 200’s present gain of 5.5% for October.

NAB shares clock a spectacular month

But even that robust gain doesn’t put NAB at the top of the ASX banking table. Commonwealth Bank of Australia (ASX: CBA) shares have outstripped even NAB’s rises. CBA shares have recorded a gain of 15.5% over October thus far. Westpac Banking Corp (ASX: WBC) shares have done even better again. This bank has recorded a pleasing 16.86% rise.

As it turns out, the only major ASX bank NAB can claim to have beaten this month is Australia and New Zealand Banking Group Ltd (ASX: ANZ). ANZ shares have lagged behind the others with a gain of ‘only’ 11.78%.

So why did NAB shares have such a strong month over October? Well, there was no major news out of the bank.

However, as is obvious from the performance of all ASX bank shares over the month, investors are currently very excited over this sector’s prospects going forward. This is arguably due to rising interest rates.

Rising rates enable banks like NAB to increase their net interest margins thanks to widening spreads between the interest they charge on loans and the interest they pay out on deposits.

We saw this codified in Bank of Queensland Ltd (ASX: BOA)’s full-year results delivered earlier this month. Upon the release of these results, which indeed showed rising net interest margins, all ASX bank shares got a major boost. This is probably the most significant reason why NAB, along with its peers, had such a strong month.

At the current NAB share price, this ASX bank share has a market capitalisation of $101.87 billion, with a dividend yield of 4.33%.

The post Here’s how the NAB share price has fared in October appeared first on The Motley Fool Australia.

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More reading

• Own CBA shares? Here’s why the bank wants to shake up the RBA board
• The ANZ share price has had a strong run, rising 10% in October
• Buy Westpac shares now for EPS and dividend growth: experts
• Top brokers name 3 ASX shares to buy next week
• These ASX dividend shares have big yields

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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TPG Telecom Limited (ASX: TPG) shares are in the green today amid a strategic update.

The telecommunication company’s shares are up 1.77% at the time of writing, currently trading at $4.895 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.69% today.

So what did TPG announce to the market today?

Bank of America to assist with strategic review

TPG has recruited Bank of America to assist with a strategic review of the company’s Vision Network business unit.

The company said its board wants to unlock value for TPG Telecom shareholders and enable Vision Network to “exploit its full potential”.

The Australian Financial Review reported Bank of America may help TPG sell its Vision Network business and will likely speak to prospective investors.

Vision Network provides fixed broadband to about 135,000 subscribers. The business is expected to generate more than $100 million of revenue in the 2023 financial year.

Commenting on today’s news, TPG CEO and managing director Inaki Berroeta said:

Vision Network’s operations are best-in-class and, following completion of the last phase of functional separation from our retail operations earlier this month, the business has compelling opportunities to fulfil its potential to become a leading wholesale residential broadband platform for multiple retail service providers.

TPG believes Vision Network has the potential to provide super-fast broadband connectivity to new building developments.

TPG said it will provide more updates to the market “in due course” and “as appropriate”.

Share price snapshot

TPG shares have shed almost 28% in the past 12 months, while they are down 17% year to date.

In comparison, the S&P/ASX 200 (ASX: XJO) has lost nearly 7% in the past year.

TPG has a market capitalisation of about $9 billion based on the current share price.

The post TPG shares lift after revealing plans of ‘unlocking’ more value appeared first on The Motley Fool Australia.

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More reading

• What sent the Imugene share price 6% higher this morning?
• Liontown Resources share price jumps higher on the release of quarterly activities report
• Is this ASX 200 share really offering a dividend yield above 30%?
• Own CBA shares? Here’s why the bank wants to shake up the RBA board
• Lake Resources share price climbs on quarterly operations progress

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Monday is proving to be a good day for the All Ordinaries Index (ASX: XAO) as many shares that call the index home boost it higher.

Indeed, these three are posting gains of as much as 11% right now. Meanwhile, the All Ords index is up 0.64% at the time of writing.

So, what’s driving these All Ords shares to outperform? Keep reading to find out.

3 ASX All Ords shares posting major gains on Monday

The first All Ords share taking off today is Tasmanian whiskey crafter Lark Distilling Co Ltd (ASX: LRK). The company posted its quarterly report this morning.

It brought in $4.2 million of sales over the three months ended 30 September – a 3% increase on the prior comparable period (pcp). Its gross profit margin also rose to 67.7% while its cash position remained strong at around $10 million.

The update appears to have surprised the market. It has bid the Lake Distilling share price up to $2.06 right now – marking a 10.75% gain on its previous close.

Lark Distilling is joined in the green by the share price of All Ords online furniture and homewares retailer Temple & Webster Group Ltd (ASX: TPW). It’s gained 9.47% to trade at $5.55 at the time of writing.

That’s despite no news having been released by the company.

Though, it’s worth noting Temple & Webster’s stock has dumped around 47% year to date after a rough start to 2022. Today’s rise sees it trading around 5% lower than its September high.

Finally, the share price of All Ords tech favourite Life360 Inc (ASX: 360) is taking off on Monday, gaining 6.55% to reach $6.83.

Once again, there’s been no news from the former S&P/ASX 200 Index (ASX: XJO) company. Today’s gain included, its stock has fallen around 28% year to date.

The post 3 ASX All Ords shares starting the week on fire appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• Analysts name 2 ASX growth shares to buy next week
• Down 32% in 2022, this ASX All Ords share is a bargain-buy opportunity: WAM
• How I’d aim to find under-the-radar ASX shares that are pandemic-era bargains
• 3 ASX All Ordinaries shares leaping more than 10% on quarterly updates

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nickel Industries Ltd (ASX: NIC) share price has started the week strongly.

At the time of writing, the nickel producer’s shares are up over 4% to 73 cents.

At one stage, the Nickel Industries share price was up as much as 6% to 74 cents.

Why is the Nickel Industries share price rising?

Investors have been bidding the Nickel Industries share price higher today after the company released its quarterly update.

According to the release, Nickel Industries delivered a 30.2% quarter on quarter increase in nickel production to a record of 20,275 tonnes. This includes 9,994 tonnes of nickel from the Angel Nickel operation, which commenced commissioning in late July.

Another positive was that the company recorded an average cash cost of US$13,597 per tonne, down 6.2% since the previous quarter.

Things weren’t quite as positive for its sales and earnings. Although nickel sales volumes rose 26.7% to 20,045 tonnes, a 20% decline in the realised nickel price to US$15,950 a tonne led to sales growth of just 1.2% to US$319.2 million.

It was even worse for its earnings despite its lower cash costs. The company revealed 46.6% decline in RKEF EBITDA to US$45.3 million. This represents EBITDA per tonne of US$2,261, which is down 57.9% from the June quarter.

Nevertheless, the company still generated underlying cash from operations of US$54.9 million for the quarter. This boosted its cash balance to US$513.2 million at the end of September.

The Nickel Industries share price has now trimmed its year to date decline to approximately 50% following today’s gain.

The post Why is the Nickel Industries share price leaping 6% today? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Broker names the ASX 200 mining shares to buy now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Bitcoin (CRYPTO: BTC) price has been closely correlated with movements in US stock markets this year.

The Nasdaq Composite (INDEXNASDAQ: .IXIC) has been a particularly reliable barometer of how BTC moves.

Look back at the price charts for 2022 and you’ll see a 5% gain in the NASDAQ has usually been mirrored by a significantly larger gain in the Bitcoin price.

And when the NASDAQ drops, the world’s top crypto has also tended to suffer a larger loss than the tech-heavy index.

Yet this past week may have offered another sign that Bitcoin could be starting to decouple from this correlation.

With some disappointing earnings results reported by the world’s top tech shares, the NASDAQ remains down 1% from Tuesday’s close, despite some strong gains to finish the week.

The Bitcoin price, on the other hand, is up just over 2% in that time.

Not a huge break from the correlation, mind you, but a break nonetheless.

Why might the Bitcoin price decouple from US stocks?

For some greater insight into what’s happening in the crypto markets, we turned to Simon Peters, market analyst at multi-asset trading platform eToro.

Peters told The Motley Fool that despite the disappointing earnings results and outlook from some of the big tech names in the US, the Bitcoin price “has held firm”.

Citing Glassnode data, Peters said that last week:

BTC exchange balances continued to drain, which is generally seen as bullish with the HODLer cohort reaching all-time-high coin ownership. The proportion of wealth held in coins that moved in the last three months is now at an all-time low, and the reciprocal observation is that wealth held by coins older than three months is now at an all-time high.

These high ownership levels signal why we may be seeing a decoupling between US equities and Bitcoin.

At the current price, it is unlikely that entities apart from Bitcoin miners would want or need to sell Bitcoin, whereas given stock market conditions and the negative forecasts from companies reporting earnings, there is perhaps a greater inclination to sell stocks.

The Bitcoin price is down 1% over the past 24 hours, currently trading for US$20,562 (AU$32,022).

The post The Bitcoin price may be decoupling from US stocks. Is this why? appeared first on The Motley Fool Australia.

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• Why are Bitcoin, Ethereum, and Dogecoin leaping higher today?
• The Bitcoin price just popped back above US$20,000. Is the crypto bull run back on?
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) is still the most shorted share on the Australian share market after its short interest rose to 15.3%. Short sellers appear to be betting against a swift travel market recovery.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease to 14.1%. Much to the delight of short sellers, this betting technology company’s shares crashed lower following its quarterly update last week. The Betmakers share price is now down 67% year to date.
• Megaport Ltd (ASX: MP1) has seen its short interest rise to 12.2%. Short sellers have been adding to their positions after Megaport released a soft quarterly update earlier this month.
• Block Inc (ASX: SQ2) has seen its short interest rise to 12.1%. This may be down to concerns over regulatory pressure in the BNPL market and global recession fears.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest rise to 11.1%. Fears that cost inflation could be weighing on this pizza chain operator’s performance appear to be the reason for this high level of short interest. We won’t have to wait long to find out if this is the case. Domino’s holds its AGM this week.
• Perpetual Limited (ASX: PPT) has seen its short interest jump again to 10.9%. A number of fund managers have been under pressure this year due to tough operating conditions.
• Lake Resources N.L. (ASX: LKE) has short interest of 8.7%, which is down week on week again. Short sellers have been targeting this lithium developer due to doubts over the DLE technology that is integral to the Kachi lithium project.
• Temple & Webster Group Ltd (ASX: TPW) has returned to the top ten with short interest of 8.6%. Short sellers will be disappointed to see that this ecommerce share is shooting higher today on no news.
• Breville Group Ltd (ASX: BRG) has seen its short interest rise to 8.5%. This may be due to concerns that the uncertain economic backdrop could impact consumer spending.
• Nanosonics Ltd (ASX: NAN) has short interest of 8.4%, which is up week on week. This appears to have been driven by the uncertainty caused from this infection prevention company’s disruptive business model change in the key US market.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group Ltd, Block, Inc., MEGAPORT FPO, Nanosonics Limited, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, MEGAPORT FPO, and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a good year so far for those invested in S&P/ASX 200 Index (ASX: XJO) coal share Coronado Global Resources Inc (ASX: CRN).

The stock has lifted a whopping 50% since the start of 2022. Meanwhile, the company’s earnings have taken off amid soaring coal prices.

In turn, those holding the ASX 200 share have been on the receiving end of some notable dividends. Indeed, Coronado announced another special dividend this morning.

So, with the Coronado share price currently trading 3.36% higher than its previous close at $1.9225, does the stock offer a dividend yield of more than 30%? Keep reading to find out.

Does this ASX 200 share really boast a 31% dividend yield?

ASX 200 coal producer Coronado has been on a roll this year, posting yet another strong quarter this morning.

The company brought in US$875 million of revenue for the September quarter – a 15.3% fall on that of its record June quarter. Its realised metallurgical coal price last quarter was US$253 per tonne – a 21.2% quarter-on-quarter fall.

Over the course of 2022 so far, it’s declared US$2.85 billion of revenue – more than double what it had this time last year.

On the back of its recent performance, the ASX 200 share announced a US 13.4 cent special dividend today.

That’s around 21 Australian cents at today’s exchange rate. The company will announce the official currency conversion on 21 November.

The coal miner previously declared two special dividend worth a combined US 11.9 cents (16.66 cents) in May and two ordinary dividends in February and August, worth US 9 cents (12.19 cents) and US 7.5 cents (10.86 cents) respectively.

Assuming its latest dividend does come in at 21 Aussie cents, the five offerings total an impressive 60.71 cents.

Considering this figure, the ASX 200 share could trade with a whopping 31.5% dividend yield.

However, it’s worth noting that special dividends typically aren’t factored into a company’s yield. Thus, without considering the special offerings, Coronado shares currently trade with a 12% dividend yield – certainly nothing to scoff at.

The post Is this ASX 200 share really offering a dividend yield above 30%? appeared first on The Motley Fool Australia.

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• Lake Resources share price climbs on quarterly operations progress
• The BHP share price went backwards in October. Time to pounce?
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• The ANZ share price has had a strong run, rising 10% in October

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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