It certainly was a busy day of results releases on Wednesday, with results being unveiled from the likes of Bravura Solutions Ltd (ASX: BVS) and Cleanaway Waste Management Ltd (ASX: CWY).
In light of the large number of releases, a few may have understandably slipped under the radar. Here are two ASX results you might have missed:
National Storage REIT (ASX: NSR)
The National Storage share price traded largely flat on Wednesday despite overcoming the pandemic to deliver solid earnings growth. The self-storage giant posted a 9% increase in underlying earnings to $67.7 million over the 12 months. This was driven partly by its growth through acquisition strategy. National Storage completed 22 acquisitions totalling $218 million in FY 2020.
The company declared a final distribution of 3.4 cents per share, bringing its full year distribution to 8.1 cents per share. A similar distribution is expected next year, with management advising that it intends to pay out 90% to 100% of its earnings per share. It is guiding to earnings of 7.7 cents to 8.3 cents per share in FY 2021.
Regis Resources Limited (ASX: RRL)
The Regis share price dropped lower yesterday despite reporting a record full year net profit for FY 2020. The gold miner delivered a 16% increase in revenue to $757 million from 353,182 ounces of gold sold at an average price of $2,200 an ounce. And thanks to the widening of its margins, Regis’ net profit after tax grew at the even quicker rate of 22% to $200 million.
This allowed the board to declare a final fully franked dividend of 8 cents per share, bringing its full year dividend to 16 cents per share. This represents a ~3% yield based on the current Regis share price. Looking ahead, Regis expects its production to increase from 352,042 ounces to between 355,000 and 380,000 ounces in FY 2021. This is expected to be achieved at an all-in sustaining cost (AISC) of $1,230-$1,300 an ounce. This compares to an AISC of $1,246 an ounce in FY 2020.
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