• Big yields are coming for these ASX dividend share: experts

    A man in suit and tie is smug about his suitcase bursting with cash.

    A man in suit and tie is smug about his suitcase bursting with cash.The good news for income investors is that there are a large number of quality ASX dividend shares to choose from on the Australian share market.

    Two that are rated as buys and tipped to offer big dividend yields are listed below. Here’s what you need to know about these shares:

    Dalrymple Bay Infrastructure Ltd (ASX: DBI)

    The first ASX dividend share that has been named as a buy is Dalrymple Bay Infrastructure.

    It is an infrastructure company that operates the Dalrymple Bay Coal Terminal (DBCT) on a long term agreement.

    Dalrymple Bay Infrastructure has been tipped to pay bumper dividends in the near term thanks to the strong demand for coal and its position as the cheapest export route-to-market for users within its Bowen Basin catchment region.

    Morgans is a fan and has an add rating and $2.67 price target on its shares.

    As for dividends, its analysts are forecasting dividends per share of approximately 21 cents in FY 2022 and FY 2023. Based on the latest Dalrymple Bay Infrastructure share price of $2.52, this will mean yields of 8.3%.

    South32 Ltd (ASX: S32)

    Another ASX dividend share that has been named as a buy is South32.

    It is one of Australia’s largest miners with exposure to a range of commodities including aluminium, copper, manganese, and nickel.

    Citi is positive on South32 and has a buy rating and $5.00 price target on the mining giant’s shares.

    The broker recently boosted its earnings estimates to reflects “Citi’s commodity team raising near term Cu/Al/Zn/HCC pricing.”

    Its analysts expect this to underpin fully franked dividends per share of 27 cents in FY 2023 and 32 cents in FY 2024. Based on the current South32 share price of $4.58, this will mean yields of 5.9% and 7%, respectively.

    The post Big yields are coming for these ASX dividend share: experts appeared first on The Motley Fool Australia.

    Looking to buy dividend shares to help fight inflation?

    If you’re looking to buy dividend shares to help fight inflation then you’ll need to get your hands on this… Our FREE report revealing 3 stocks not only boasting inflation-fighting dividends…

    They also have strong potential for massive long-term returns…

    See the 3 stocks
    *Returns as of February 1 2023

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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 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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  • Goldman Sachs says these excellent ASX tech shares are buys

    A woman wearing yellow smiles and drinks coffee while on laptop.

    A woman wearing yellow smiles and drinks coffee while on laptop.

    If you are looking to bolster your portfolio with some ASX tech shares before the sector rebounds fully, you may want to look at the two listed below that have been tipped as buys by Goldman Sachs.

    Here’s what the broker is saying about these ASX tech shares:

    Readytech Holdings Ltd (ASX: RDY)

    The first ASX tech share that Goldman Sachs rates as a buy is Readytech.

    It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors.

    Goldman Sachs remains very positive on the company’s outlook due to its defensive earnings. It also sees plenty of value in its shares at the current level compared to peers. It explained:

    RDY remains a tech value play within our coverage universe, trading at a >50% discount to peers when accounting for its robust growth outlook. Government software has been a pocket of strength and resilience within TMT (~3/4 of RDY’s earnings) and we are positive on RDY’s ability to deliver mid-teens organic growth at an expanding profit margin through the cycle.

    Goldman has put a buy rating and $4.45 price target on its shares.

    Xero Limited (ASX: XRO)

    Another ASX tech share that Goldman Sachs rates highly is Xero.

    It is a cloud-based accounting and business platform provider to small and medium sized businesses globally.

    Goldman is positive on Xero due to its massive total addressable market (TAM) and favourable tailwinds that look set to support its growth in the coming years. The broker said:

    We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$76bn TAM. Following the recent underperformance (absolute/relative), we see an attractive entry point into a compelling global growth story and our preferred large-cap technology name in ANZ, and are Buy rated (on CL).

    Goldman Sachs currently has a buy rating and $109.00 price target on Xero’s shares.

    The post Goldman Sachs says these excellent ASX tech shares are buys appeared first on The Motley Fool Australia.

    Renowned futurist claims this could be… “The last invention that humanity will ever need to make”?

    Tech billionaire Mark Cuban believes the world’s first trillionaires are going to come from it…

    And just like the internet and smartphones before it, this technology is set to transform the world as we know it. It’s already changing the way you work, how you shop… and it’s even helping to save lives — Perhaps that’s why experts predict it could grow to a market defying US$17 trillion dollar opportunity?

    If you’re wondering what could be the engine room of the next bull market… You’ll need to see this…

    Learn more about our AI Boom report
    *Returns as of February 1 2023

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    Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ReadyTech and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended ReadyTech. 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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  • Someone just bought $22 million of Flight Centre shares. Here’s what we know

    Kid with arm spread out on a luggage bag, riding a skateboard.Kid with arm spread out on a luggage bag, riding a skateboard.

    It’s been a rather dour start to the trading week for the share markets this Monday. The S&P/ASX 200 Index (ASX: XJO) has recorded a 0.21% loss for the session at today’s close.

    But not all ASX 20 shares dipped into the red today. Just take Flight Centre Travel Group Ltd (ASX: FLT) shares.

    Flight Centre had a turbulent start this morning. After closing at $18.21 a share last week, the ASX 200 travel share opened at $18.13 this morning before dropping as low as $18.06.

    But investors quickly got over their nerves, and the Flight Centre share price was trading comfortably in the green, up 0.74% at $18.34 at the market close.

    There hasn’t been any fresh news out of Flight Centre itself that could explain these gains on a down day. And Flight Centre is one of the only ASX travel shares in a good place. Others, such as Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN) did not escape losing value today.

    So perhaps these gains are the result of some trading action.

    Flight Centre shares defy the ASX 200 amid monster trade

    According to reporting in The Australian today, Flight Centre shares have just seen an enormous trade take place. A block of 1.2 million shares changed hands today, worth around $22.1 million. That’s the equivalent of 0.7% of all the Flight Centre shares on the market. 

    This trade reportedly took place for a price of $18.45 per share. So clearly, a large investor (or group of investors) has decided to take up a substantial investment in the company.

    Such a vote of confidence could be helping push up the Flight Centre share price this session, and might explain why this ASX 200 travel share is defying the gloom of the broader market this Monday.

    No doubt shareholders will be pleased.

    Flight Centre shares have already had a stellar start to 2023. Since the start of the year, this company has rallied by an impressive 27.6%. However, Flight Centre remains down by more than 9% over the past 12 months:

    The post Someone just bought $22 million of Flight Centre shares. Here’s what we know appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of February 1 2023

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    Motley Fool contributor Sebastian Bowen 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 Flight Centre Travel Group. 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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  • If I invest $2,000 in Telstra shares now, what could my return be in 2023?

    A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.

    A man casually dressed looks to the side in a pensive, thoughtful manner with one hand under his chin, holding a mobile phone in his hand while thinking about something.Telstra Group Ltd (ASX: TLS) shares are a popular option for investors on the Australian share market.

    Countless portfolios and superannuation funds across the country have some exposure to the telco giant.

    But are Telstra shares a good option? What could a $2,000 investment turn into in 2023?

    Telstra shares in 2023

    The good news is that that majority of brokers out there are tipping the Telstra share price to rise from current levels.

    For example, a recent note out of Goldman Sachs reveals that its analysts have just upgraded the company’s shares to a buy rating with a $4.60 price target.

    Based on the current Telstra share price of $4.10, this suggests potential upside of 12% for investors over the next 12 months.

    This means that if you invested $2,000 into its shares, you would see your investment grow to be worth $2,240 by the end of the year if they reached Goldman’s price target. The broker commented:

    Given the defensive nature of telecoms into an uncertain 2023, we believe the low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned by its mobile business, is attractive. We believe FY23 earnings will be robust, benefiting from challenges that the competitors are currently facing (Optus hacking, TPG MOCN) offsetting the near-term cost pressures (call centre on shoring, retail stores & staff inflation), and we are incrementally more positive on the medium term mobile outlook, supported by the recent TPG price rises.

    The broker also sees potential from asset divestments following its restructure. It adds:

    2023 presents a meaningful opportunity for Telstra to crystallise value through commencing the process to monetize its InfraCo Fixed assets – which we estimate could be worth between A$22-30bn.

    Don’t forget the dividends

    The above return was based only on the Telstra share price performance.

    However, as income investors will attest, Telstra shares provide investors with a healthy dividend yield right now.

    Goldman Sachs is expecting the company to pay a 17 cents per share fully franked dividend in FY 2023. This equates to a 4.1% yield at current levels.

    If we add this into the equation, your total return would come to 16.1%, bringing the value of your investment to $2,322.

    The post If I invest $2,000 in Telstra shares now, what could my return be in 2023? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Telstra Corporation Limited right now?

    Before you consider Telstra Corporation Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Telstra Corporation Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of February 1 2023

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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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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  • Buy Qantas shares today for 30% upside: Morgans

    A pilot stands in an empty passenger cabin smiling with his arms crossed looking excited

    A pilot stands in an empty passenger cabin smiling with his arms crossed looking excited

    Qantas Airways Limited (ASX: QAN) shares are on course to start the week with a small decline.

    In afternoon trade, the airline operator’s shares are down slightly to $6.49.

    Where next for Qantas shares?

    While the Qantas share price may be having a subdued session on Monday, the team at Morgans believe that it could soon take off.

    According to a recent note out of the broker, its analysts have named the flying kangaroo as its top pick in the travel sector.

    Thanks to its much-improved performance, Morgans believes that Qantas shares can fly notably higher from here.

    The note reveals that Morgans has an add rating and $8.50 price target on them. Based on where they are trading today, this implies over 30% upside for investors over the next 12 months.

    Why is the broker bullish?

    Morgans elevated Qantas shares to the top of its travel picks due to its belief that the company’s near term earnings have the most momentum. It explained:

    QAN is now our preferred pick out of our travel stocks under coverage given it has the most near-term earnings momentum. Looking across travel companies globally, airlines are now in the sweet spot given demand is massively exceeding supply.

    In addition, the broker believes the Qantas share price is too cheap to ignore at current levels. Particularly given how its business is significantly stronger than pre-pandemic. It adds:

    QAN is trading at a material discount compared to pre-COVID multiples, despite having structurally higher earnings, a much stronger balance sheet, a better domestic market position, a higher returning International business and more diversification (stronger Loyalty/Freight earnings).

    And thanks to pent up demand, Morgans believes Qantas is well-placed for growth and further capital management initiatives in the coming years. In respect to the latter, Morgans suspects that a $400 million on-market share buyback could be announced this month. It said:

    The strong pent-up demand to travel post-COVID should result in a healthy demand environment for some time, underpinning further EBITDA growth over FY24/25. QAN’s balance sheet strength positions it extremely well for its upcoming EBIT-accretive fleet reinvestment and further capital management initiatives (forecasting a A$400m on-market share buyback to be announced at 1H23 result). There is also likely upside to our forecasts and consensus if QAN achieves its FY24 strategic targets.

    The post Buy Qantas shares today for 30% upside: Morgans appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Qantas Airways Limited right now?

    Before you consider Qantas Airways Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas Airways Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of February 1 2023

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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 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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  • Is a bigger CBA dividend on the cards this week?

    A person is weighed down by a huge stack of coins, they have received a big dividend payout.A person is weighed down by a huge stack of coins, they have received a big dividend payout.

    Arguably the most anticipated earnings result of the season is Commonwealth Bank of Australia‘s (ASX: CBA) FY23 half-year on Wednesday. Investors will be looking to see if the banking giant can continue to deliver sizeable dividends to CBA shareholders.

    Today, shares in Australia’s biggest bank are tracking lower after crossing the $110 barrier last week. At the time of writing, the CBA share price is sitting at $109.35 — down 0.6% from its previous closing point.

    In a stellar start to 2023, CBA shares have returned more than 8% so far this year. While the capital growth is exceptional, those relying on the big four bank for income will be hoping for a juiced-up interim dividend.

    Will income investors be able to celebrate?

    Rising interest rates have been a major headache for mortgage holders, but they might have set the stage for a stupendous result from CBA on Wednesday.

    One of the key metrics for banking revenue is the net interest margin (NIM). The bigger the difference between interest earned (loans) and interest paid (deposits), the more revenue we can expect to see.

    Many analysts are expecting a tremendous half from CBA for the December ending period fuelled by a widening NIM.

    According to Bloomberg, the consensus revenue estimate sits at $5.2 billion. Meanwhile, the accompanying dividend per share estimate is pegged at $2.10. However, some analysts — including Jarden’s Carlos Cacho — are forecasting an even strong result.

    Cacho thinks the yellow-branded bank could deliver revenue in excess of $5.2 billion thanks to wider margins and minimal bad debts.

    Those bad debts that Cacho mentions will be critical to the size of the CBA interim dividend. Any need to provision for credit losses could tighten the belt around cash available to shareholders. However, this is not a concern at this stage according to Cacho, stating:

    I really doubt we are going to see any signs of deterioration on the bad debt front yet.

    Why CBA dividends could grow

    Last week, my colleague James Mickleboro covered CBA earnings estimates from Goldman Sachs. Much like others, they too are expecting a rosy result for the first half of FY23. Though, Goldman reckons $5.108 billion is a more likely cash-earnings outcome.

    TradingView Chart

    Despite the less optimistic earnings expectation, Goldman analysts foresee an interim dividend of $2.12 per share. If this were to be the case, it would represent an increase of 21% compared to the prior corresponding period.

    The current trailing 12-month dividend yield on CBA shares is 3.5%. Notably, this places it as the lowest-yielding big four bank at present.

    The post Is a bigger CBA dividend on the cards this week? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Commonwealth Bank of Australia right now?

    Before you consider Commonwealth Bank of Australia, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Commonwealth Bank of Australia wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of February 1 2023

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    Motley Fool contributor Mitchell Lawler has positions in Commonwealth Bank Of Australia. 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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  • Can Coles shares deliver 8% upside AND tasty dividends in 2023?

    A young boy smiles with a juicy slice of orange in his mouth, eating breakfast at the dining table with his dad.A young boy smiles with a juicy slice of orange in his mouth, eating breakfast at the dining table with his dad.

    The Coles Group Ltd (ASX: COL) share price could be in for a good run in the near future, as could the supermarket operator’s dividends.

    That’s despite the stock already having posted an 8% gain in 2023. After ending last year at $16.72, the Coles share price has leapt to trade at $18.02 today.

    For comparison, the S&P/ASX 200 Index (ASX: XJO) has risen around 5% since the end of 2022.

    So, what might bolster the supermarket stock and its dividends this year? Let’s take a look.

    Invested in Coles shares? You could be in for a good year

    Broker Morgans is among those bullish on the Coles share price. It tips the stock could outperform in what looks to be a rough year for others.

    Many experts are forecasting the impacts of interest rate hikes, implemented in an effort to control inflation, to catch up in 2023. That could see consumer demand softening.

    Fortunately, Coles’ defensive characteristics could put it on the front foot, the broker says, as my Fool colleague James reports.

    It also likes the look of the company’s balance sheet and thinks it could benefit from the unwinding of local shopping.

    It’s likely no surprise then, that Morgans has a $19.50 price target on Coles shares. That represents a potential 8.2% upside.

    And that’s not all. It also forecasts Coles’ dividends to grow to 64 cents per share this financial year and 66 cents per share next financial year.

    For comparison, the supermarket operator offered investors 63 cents per share in financial year 2022.

    Citi is even more bullish on the ASX 200 constituent’s dividends, James reported last month.

    The broker predicts Coles will offer 72 cents per share this fiscal year and 77 cents per share next. It also tipped the stock to rise 4.9% to $18.90.

    However, not all experts are so hopeful. Goldman Sachs has a sell rating and a $14.90 price target on Coles shares, representing a potential 17% downside.

    The post Can Coles shares deliver 8% upside AND tasty dividends in 2023? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Coles Group Limited right now?

    Before you consider Coles Group Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of February 1 2023

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    Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Coles Group. 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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  • Deadline coming: 3 ASX 200 shares to buy now before dividend payouts

    A man happily kisses a $50 note scrunched up in his hands representing the best ASX dividend stocks in Australia today

    A man happily kisses a $50 note scrunched up in his hands representing the best ASX dividend stocks in Australia todayReporting season is now getting into the full swing of things. We’ve already heard from some of the leading S&P/ASX 200 Index (ASX: XJO) dividend shares.

    While share prices have already moved in response to the results reported by these companies, investors can still grab shares before it’s too late to be entitled to the dividend.

    If investors are interested in the business and the dividend payment, they need to invest before the ex-dividend date. Investors who buy shares on or after that date will miss out on the dividend.

    JB Hi-Fi Limited (ASX: JBH)

    JB Hi-Fi reported its result today, revealing that total sales grew by 8.6% to $5.3 billion and earnings per share (EPS) went up 20.4% to $3.018.

    The company’s board decided to grow the dividend by 20.9% to $1.97 per share. The ex-dividend date is 23 February 2023, so that’s not far away.

    With the incoming $1.97 dividend, that payment alone amounts to a fully franked dividend yield of 4.4%, with a grossed-up dividend yield of 6.3%.

    However, there may not be much dividend growth in the second half of the year. For January 2023, the ASX 200 dividend share said that total sales growth for JB Hi-Fi Australia was 2.5%. JB Hi-Fi New Zealand’s total sales growth was 20%. The Good Guys’ total sales growth was 0%.

    Pinnacle Investment Management Group Ltd (ASX: PNI)

    Funds management business Pinnacle has seen its share price drop by around 50% since November 2021 as investors lost confidence in asset markets amid rising interest rates.

    In its FY23 half-year result, the company reported a 24% fall in net profit after tax (NPAT) to $30.5 million.

    However, the interim dividend was only decreased by 11% to 15.6 cents per share. That dividend from the business amounts to a fully franked dividend yield of 1.65%, or a grossed-up dividend yield of 2.4%.

    Despite all of the market volatility hurting sentiment about the ASX 200 share, the funds under management (FUM) of the fifteen Pinnacle affiliates ended December 2022 at $83.2 billion, which was only a decrease of 1% during the first half.

    The ex-dividend date for the Pinnacle payment is 2 March 2023.

    Amcor PLC (ASX: AMC)

    Amcor is one of the world’s largest plastic packaging companies. When walking around the supermarket, there are plenty of products that have been packaged by the business.

    It recently announced its FY23 second quarter and first-half result.

    The ASX 200 share announced that its net sales increased by 6% to $7.35 billion, while adjusted earnings before interest and tax (EBIT) and adjusted EPS grew by 8% on a comparable constant currency basis.

    It announced a quarterly dividend of 12.25 US cents per share, up from 12 US cents per share. The 12.25 cents per share dividend equates to 17.3 cents per share in Australian dollar terms. This quarterly dividend amounts to 1.1%.

    The ex-dividend for this upcoming quarterly dividend is 28 February 2023.

    The post Deadline coming: 3 ASX 200 shares to buy now before dividend payouts appeared first on The Motley Fool Australia.

    Where should you invest $1,000 right now? 3 dividend stocks to help beat inflation

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    Motley Fool contributor Tristan Harrison 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 Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Amcor Plc and Pinnacle Investment Management Group. The Motley Fool Australia has recommended Jb Hi-Fi. 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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  • Why Audinate, Endeavour, IAG, and Vitura Health shares are charging higher

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.The S&P/ASX 200 Index (ASX: XJO) has started the week in a subdued fashion. In afternoon trade, the benchmark index is down 0.2% to 7,417.3 points.

    Four ASX share that are not letting that hold them back are listed below. Here’s why they are charging higher:

    Audinate Group Ltd (ASX: AD8)

    The Audinate share price has jumped 11% to $7.96. Investors have been buying this media networking solutions provider’s shares after it delivered a record half year result. Audinate reported a 39.3% increase in revenue to US$20.6 million and a 30% lift in gross profit to US$14.5 million. Management also revealed that its sales backlog remains at record levels.

    Endeavour Group Ltd (ASX: EDV)

    The Endeavour share price is up 3.5% to $7.06. This follows the release of the drinks giant’s half year update. Endeavour reported a 2.5% increase in sales to $6.5 billion and a 17% jump in profit after tax to $364 million. The latter came in ahead of Goldman Sachs’ estimate of $346 million, which itself was ahead of consensus expectations.

    Insurance Australia Group Ltd (ASX: IAG)

    The IAG share price is up 5% to $4.96. Investors have been buying this insurance giant’s shares after the release of its half year results. IAG reported gross written premium growth of 7.5% to $7.06 billion and a 171% jump in net profit after tax to $468 million.

    Vitura Health Ltd (ASX: VIT)

    The Vitura Health share price is up 8.5% to 57 cents. This follows the release of the cannabis company’s half year results. Vitura, formerly known as Cronos Australia, reported record gross revenue of $57.6 million and a record net profit of $7.7 million. Both were more than double compared to the prior corresponding period.

    The post Why Audinate, Endeavour, IAG, and Vitura Health shares are charging higher 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 Audinate Group. The Motley Fool Australia has positions in and has recommended Audinate Group. 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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  • Why Appen, Lendlease, Nuix, and Star shares are sinking today

    Worried ASX share investor looking at laptop screen

    Worried ASX share investor looking at laptop screen

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.2% to 7,421.2 points.

    Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

    Appen Ltd (ASX: APX)

    The Appen share price is down 16% to $2.79. This morning, the artificial intelligence data services company revealed that it expects to report full year revenue at the high end of its guidance range but EBITDA at the low end of its range. Appen also announced a non-cash, pre-tax impairment charge of $204.3 million relating to its new markets business.

    Lendlease Group (ASX: LLC)

    The Lendlease share price is down 7% to $7.69. Investors have been selling this engineering company’s shares after its first half results disappointed. Lendlease reported a statutory loss of $141 million for the half. A key driver of this was a $200 million provision due to action by the United Kingdom government.

    Nuix Ltd (ASX: NXL)

    The Nuix share price has crashed 29% to $1.08. This appears to have been sparked by fears that the investigative analytics and intelligence software provider could be about to lose a major customer. According to the AFR, the Australian Securities and Investments Commission (ASIC) is planning to dump the company and use alternative software. There is also speculation that other government departments could follow suit.

    Star Entertainment Group Ltd (ASX: SGR)

    The Star share price is down a massive 20% to $1.50. Investors have been selling this casino operator’s shares after it released a disappointing earnings update. Star revealed that competition in Sydney was weighing on its performance and is expected to lead to a small decline in first half revenue compared to pre-COVID levels. This is also expected to weigh on its full year earnings.

    The post Why Appen, Lendlease, Nuix, and Star shares are sinking today appeared first on The Motley Fool Australia.

    4 ways to prepare for the next bull market

    It’s a scary market. But staying in cash when inflation is surging likely won’t do investors any good either.

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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 Appen. 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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