Every month, there are shares going ex-dividend which are worth reviewing and thinking about. In November, 3 companies are going ex-dividend with reasonable yields for this one payout alone. Not only that, but the 3 ASX dividend shares are all 100% franked. Meaning the tax on them has already been paid. Let’s take a look.
ASX dividends in mining
Rand Mining Ltd (ASX: RND) is a multi operation gold mining company in Western Australia. The company specialises in gold exploration and development. Nonetheless, it also owns 12.25% of the East Kanowna Joint Venture with other ASX shares Northern Star Resources Ltd (ASX: NST) and Tribune Resources Ltd (ASX: TBR). During the first quarter FY21, Rand received 4,687 oz of gold as part of this deal.
The company is paying an ASX dividend of 10 cents, which at today’s price is a dividend yield of 4.22% for this payment alone. Rand goes ex-dividend on 11 November. Grossed up, including the tax already paid, this ASX dividend would be 13 cents, or a yield of 5.4%.
Investment company
WAM Capital Limited (ASX: WAM) is an investment company paying a final ASX dividend of 7.8 cents. On today’s price that is a yield of 3.43% for this payment only. At the time of writing, the company has a trailing 12 month dividend yield of 6.86%. WAM is currently involved in two hostile takeovers on the ASX. The first involves the Concentrated Leaders Fund Ltd (ASX: CLF) of which WAM now holds 24.63%. The second is the Contango Income Generator Ltd (ASX: CIE), of which WAM now owns 38.22%.
These two issues are still playing out. However, the company indisputably has a majority controlling interest in the Contago Income Generator at least. WAM Capital goes ex-dividend on 27 November. Grossed up, this ASX dividend would be worth 10.1 cents, or 4.47%.
ASX manufacturing
Joyce Corporation Ltd (ASX: JYC) recently increased its dividend from 2.7 cents to 5 cents per share, increased on 30 October. This has been attributed to the success of cash management initiatives. The company increased its annual revenues by 4% and partner sales by 10.1%. This has led to an increase in earnings per share (EPS) of 35%. In fact, the company closed the year out with 52.6% more cash.
The house furnishings company owns brands like Bedshed and Kitchen Connection. Through FY20, the company has focused on increasing efficiency. Specifically through portfolio rationalisation, process improvement, and systems improvement.
Joyce is paying a dividend of 5 cents per share, which is a yield on this payment alone of 3.23%. Grossed up, this ASX dividend would be worth 4.19%.
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Returns as of 6th October 2020
More reading
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- Virtual AGMs rob retail investors: fundie
- New WAM Alternative Assets LIC appoints portfolio manager
Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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