The NIB Holdings Ltd (ASX: NHF) share price hit a new 52-week high today after it announced a key restructuring of its board.

The Australian private health insurer’s shares finished the day up by 3.19% to $6.79. At one stage during intraday trade, shares were swapping hands for $6.88 — a new 52-week high.

What did NIB announce?

NIB announced the retirement of its non-executive director and chair this morning.

Steve Crane will step down from the post on 29 July. He will be succeeded by independent non-executive director David Gordon.

Gordon is a founding principal of Lexicon Partners, and is also the current chair of Accent Group Ltd (ASX: AX1). He joined the NIB board in 2020.

The new chair said he was “honoured and excited to assume the role and would like to thank Mr Crane for his extraordinary contribution to the company for over ten years”.

Furthermore, NIB announced it will appoint Peter Harmer as an independent, non-executive director. Harmer has “over 40 years experience in the Australian and international insurance and financial sectors”, according to NIB.

Speaking on Harmer’s appointment, outgoing chair Crane said:

We’re thrilled to welcome Peter to our board. He brings enormous experience as both a company director and executive. He also has an impressive track record in leading organisations through digital transformations, a big priority in the company today.

Harmer will stand for election at the 2021 annual general meeting, scheduled for November.

NIB share price snapshot

The NIB share price has climbed 14% this year to date, extending the previous 12 month’s return of 47%.

Both of these returns have outpaced the S&P / ASX 200 Index (ASX: XJO)’s return of 20% over the past year.

NIB has market capitalisation of $3 billion.

The post NIB Holdings (ASX:NHF) share price hits 52-week high as chairman retires appeared first on The Motley Fool Australia.

More reading

• NIB Holdings (ASX:NHF) share price hits new 52-week high today

The author Zach Bristow has no positions 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 NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Ethereum (CRYTPO: ETH) share price is falling hard, down 8.5% over the past 24 hours.

Ethereum is currently worth US$1,752 (AU$2,400). That gives the world’s second biggest crypto a market cap of US$2.04 billion, according to data from CoinMarketCap.

With today’s falls factored in, Ethereum has now lost 60% of its value since hitting all times highs of US$4,383 earlier this year on 12 May.

Despite those falls, the Ethereum price is still up an impressive 135% so far in 2021. That puts Bitcoin‘s (CRYTPO: BTC) 1.9% year-to-date gains to shame. Bitcoin, if you’re wondering, is down 6.5% over the past 24 hours.

While most digital tokens are following the biggest players downhill, a select few are bucking the trend.

Dashing for a 7% daily gain as Ethereum tanks

The best performing crypto (among the top 100 by market cap) over the past 24 hours is Dash (CRYPTO: DASH). One Dash is currently worth US$124, up 7.0% since this time yesterday.

Dash – which stands for “digital cash” – is an ancient veteran amongst cryptocurrencies. It was launched way back in January 2014 as a fork of Litecoin (CRYPTO: LTC).

Today’s gains put Dash back up to a 23% year-to-date rise. But, in a worthy reminder of the large sums of money that can be made on lost in the crypto world, Dash was trading for US$1,551 back on 20 December, 2017. That was right at the peak of the Bitcoin bubble.

So what exactly is Dash? For that answer we turn back to CoinMarketCap, which tells us:

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralized in nature. According to the project’s white paper, Dash seeks to improve upon Bitcoin (BTC) by providing stronger privacy and faster transactions.

If you’re considering investing in crypto, whether that’s Ethereum or some of the smaller tokens, bear in mind the extreme price volatility that comes along with them. If you have the cast iron stomach for that, and are investing money you can afford to lose, best of luck!

The post The Ethereum price is crashing as this little known token soars appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin. 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 Bruce Jackson.

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It’s a frustrating time to be bullish for the Qantas Airways Ltd (ASX: QAN) share price.

Shares in Australia’s leading airline have tanked another 2.37% to $4.54 on Tuesday.

At these levels, the Qantas share price has gone nowhere since November 2020.

Let’s explore why Qantas shares continue to remain grounded this week.

Qantas share price under pressure following overnight selloff

Major indices overnight, including the Dow Jones Industrial Average and FTSE 100, tumbled more than 2% driven by increasing concerns of rising COVID-19 cases and a slowdown in economic growth.

Bloomberg described this move as a “reversal of the reopening trade that has powered this year’s equity rally, cyclical companies bore the brunt of Monday’s rout. Commodity, financial and industrial shares led losses in the S&P 500, which fell the most since May. Airlines and cruise operators tumbled amid concern over further travel restrictions.”

Shares in aircraft manufacturer Boeing experienced the largest percentage decline on the Dow Jones last night, falling 4.94% to a 5-month low.

Similarly, major US airline shares including United Airlines, American Airlines and Delta Air Lines tumbled 5.54%, 4.14% and 3.74% respectively.

It looks like the heavy selling overnight could be a factor weighing on the Qantas share price on Tuesday.

Lockdown woes continue

Lockdowns have proven costly for the Qantas share price.

On 20 May, the company flagged that a three-day lockdown in Perth during April cost an estimated $15 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA).

Furthermore, a Brisbane lockdown in late March and Sydney’s Northern Beaches outbreak resulted in respective $29 million and $400 million hits to EBITDA.

Unfortunately, the lockdown situation in Australia is far from over.

This afternoon, South Australia announced that it will go into a 7-day lockdown from 6:00 pm tonight.

Victoria’s 5-day snap lockdown, which was expected to end at midnight on Tuesday, has been extended by another 7 days until midnight on Tuesday, 27 July.

And finally, Greater Sydney will remain in lockdown until midnight on Friday, 30 July.

The post Qantas (ASX:QAN) share price tanks another 2% on Tuesday appeared first on The Motley Fool Australia.

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• What happened on the US stock market overnight and how could it impact ASX shares?
• Top broker still thinks the Qantas (ASX:QAN) share price is great value
• It hasn’t been a great 2021 so far for the Qantas (ASX:QAN) share price
• Fresh blow to ASX 200 travel shares as Victoria lockdown looms large

Motley Fool contributor Kerry Sun 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 Bruce Jackson.

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The Argosy Minerals Limited (ASX: AGY) share price plunged today. This comes on a day the lithium mining company announced a positive update on its wholly-owned Tonopah Lithium Project.

At market close, Argosy shares were down 8.7% to 10.5 cents apiece.

What did Argosy announce?

In its update, Argosy advised magnetotelluric resistivity surveying works have begun at the Tonopah Lithium Project in the US state of Nevada.

Following the earlier review of geophysical gravity data, Argosy identified lithium brine trap targets that could contain concentrated lithium brine. As such, the company has progressed to the next stage of its exploration program works.

A Nevada-based geophysical contractor will carry out a magnetotelluric (MT) resistivity survey along 3 profile lines covering around 20 lineal kilometres.

Upon completion of the MT survey work and data acquisition, the findings will be sent for processing and analysis. It’s expected the interpreted information will provide the company with a better understanding of geological structures in the survey area.

This includes identifying the geologic basement and outlining low resistivity anomalies, potentially caused by lithium brine.

From there, Argosy is able to look at a possible drilling campaign to test the area.

Argosy managing director Jerko Zuvela commented:

The significant push for lithium supply in the USA is fast becoming critical and is paramount in their aim to promote the highly strategic battery minerals industries. The Tonopah Lithium Project will place Argosy in prime position to take advantage of our technological expertise (and successfully producing battery quality lithium carbonate) in an established tier 1 mining region.

We look forward to progressing and realising the potential from our Tonopah Lithium Project and the benefits of being located in the US during this next stage of exponential growth in this industry.

Argosy share price summary

In the last 12 months, the Argosy share price has gained around 110%, with year-to-date up almost 40%. The company’s shares rose strongly at the start of the calendar year before profit-taking took hold. More recently, Argosy shares have been moving sideways since the start of March.

On valuation grounds, Argosy has a market capitalisation of roughly $137 million, with 1.25 billion shares on issue.

The post Argosy (ASX:AGY) share price falls 9% despite positive update appeared first on The Motley Fool Australia.

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• Lovisa (ASX:LOV) share price takes a hit on further store closures
• EROAD (ASX:ERD) share price slumps on opening of SPP
• Why the Elders (ASX:ELD) share price is outperforming today
• Here’s why the Beach Energy (ASX:BPT) share price is in the red today

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price defied the market weakness on Tuesday and pushed higher.

The banking giant’s shares ended the day with a gain of 0.6% to $27.32.

This means the ANZ share price is now up almost 19% in 2021.

What drove the ANZ share price higher?

The catalyst for the rise in the ANZ share price on Tuesday was the positive reaction to its surprise announcement of a $1.5 billion on-market share buy-back.

ANZ’s Chair, Paul O’Sullivan, commented: “Despite the very real challenges being experienced by many of our customers, we have the financial strength to continue to support our customers, while also returning surplus capital to shareholders. After reviewing options, we consider an on-market buy-back to be the most prudent, fairest and flexible method to return capital in the current environment.”

What was the reaction?

The market was caught by surprise by the announcement. With Australia battling COVID-19 outbreaks and lockdowns occurring across much of the country, most analysts expected the big four banks to postpone capital management initiatives.

One broker that was pleased with the news is Goldman Sachs. In response, the broker retained its buy rating and lifted its price target on the company’s shares to $30.50.

Based on the current ANZ share price, this implies potential upside of 11.5% excluding dividends.

What did the broker say?

Goldman commented: “While today’s announcement is broadly consistent with management commentary at its 1H21 result, the timing does come as a positive surprise, particularly in light of the current Sydney-centric Covid-19 outbreak and announcement today by APRA of further regulatory capital support for loans subsequently impacted.”

The broker notes that APRA has signed off on the buyback, which bodes well for Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four.

It explained: “With APRA having signed off on this buyback, we think the ANZ announcement highlights the regulator’s comfort around the financial strength of ANZ — and the sector more broadly — despite the recent Covid-19 outbreak.”

“We forecast CBA to announce a A$3.5 bn special dividend at its FY21 results on 11-Aug and note that pro-forma surplus capital as a percentage of market capitalisation currently sits at 9.1% for NAB, 7.7% for WBC, 6.4% for CBA and 5.7% for ANZ.,” Goldman added.

The good news for shareholders and the ANZ share price, is that Goldman doesn’t expect the capital returns to stop there. It is forecasting a further $1.5 billion buy-back over the course of FY 2022 due to the surplus capital that still remains.

The post $1.5bn buy-back: Is the ANZ (ASX:ANZ) share price a bargain buy? appeared first on The Motley Fool Australia.

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• Why Afterpay, ANZ, JB Hi-Fi, & Zip shares are pushing higher
• ANZ’s (ASX:ANZ) $1.5bn buyback puts other ASX 200 banks under capital return spotlight
• What happened on the US stock market overnight and how could it impact ASX shares?
• ANZ (ASX:ANZ) share price on watch after announcing $1.5bn buy-back

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 Bruce Jackson.

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The Lovisa Holdings Ltd (ASX: LOV) share price has slipped lower today after the company provided a business update.

By the close of trade, the jewellery retailer’s shares were trading 1.1% lower ate $15.29. Earlier in the day, the Lovisa share price had reached as low as $14.95 – representing a 3.3% fall on the prior day’s closing price.

So, let’s flick through the latest market release pushing Lovisa shares downward.

COVID-19 woes impact the Lovisa share price

According to the release, the company has continued to experience disruptive trading conditions and temporary store closures. This is the consequence of government restrictions following the uptick in COVID-19 cases in recent months.

Additionally, temporary store closures are still occurring across a large number of locations. For instance, 36 stores across Victoria remain temporarily closed since 16 July. This is in addition to 32 stores in Greater Sydney, and 8 stores in South Australia.

Meanwhile, 28 stores in Malaysia have been temporarily closed since early June due to local government responses to rising coronavirus cases.

Lastly, the company has imposed temporary store closures at 6 locations in South Africa during the civil unrest and rioting across the country. The news has weighed on the Lovisa share price today.

To the disappointment of shareholders, the duration of these closures will rest upon government advice as the situation proceeds.

Investors might have noticed that the total number of temporary store closures has climbed to 102. This is an increase from the 61 stores notified to the market as being closed at the end of May 2021.

Still rather fetching to brokers

Despite the disruptions to the company’s bricks and mortar segment, leading broker Morgans recently put a buy rating on the Lovisa share price. The broker holds a price target of $17.95 on the ASX-listed retailer.

As a fellow Fool covered a couple of weeks ago, Lovisa is focused on developing its digital capabilities. This is becoming increasingly important during the current trading environment.

Morgans sees the Lovisa share price as an attractive play for reopening.

The post Lovisa (ASX:LOV) share price takes a hit on further store closures appeared first on The Motley Fool Australia.

More reading

• 2 compelling ASX shares that could be buys in July 2021
• Lovisa (ASX:LOV) share price gains 7% following co-founder’s Honey sale

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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The Elders Ltd (ASX: ELD) share price is swimming against the down current today as it became the latest buy idea from a leading broker.

Shares in the agricultural goods and services group jumped 3% to $11.66 in the last hour of trade.

That’s an impressive rally given that the S&P/ASX 200 Index (Index:^AXJO) lost around 0.5%. Even its peers like the Nufarm Ltd (ASX: NUF) share price and Graincorp Ltd (ASX: GNC) are either in the red or just barely hanging on to breakeven.

Elders share price the latest “buy” idea

Investors could be getting excited about the Elders share price after UBS initiated coverage on its ASX shares with a “buy” recommendation.

“Elders is one of Australia’s largest agribusinesses providing a wide range of farming supplies and services,” said UBS.

“We view Elders as a high quality play on the improving Australian agriculture cycle.”

Strong earnings growth underpins bullish outlook

The broker is forecasting a 10% compound annual growth rate (CAGR) for Elder’s earnings before interest and tax (EBIT) over the next three years.

That’s the top of management’s guidance range as Elders looks to execute on its third “Eight-Point Plan”.

Under this plan, management is targeting EBIT growth of between 5% and 10%, and an average return on capital of 18% to FY23.

Tailwinds lifting the Elders share price

There are a few reasons why UBS believes Elders can hit a 10% growth target. This includes the Titan backwards integration benefits and $15 million of AIRR synergies.

Further, expectations of a bumper crop due to good rainfall and high soft commodity prices are additional tailwinds.

Strong earnings growth isn’t the only reason to be bullish on the Elders share price. The group could get an extra earnings kick from mergers and acquisitions (M&As).

M&A adds further upside

“M&A has been a key component of the Elders story, with the company having invested A$270mn over the past five years,” said UBS.

“Our M&A scenario analysis suggests there is 11-14% EBIT upside to our FY23 forecasts from the successful execution of potential M&A.”

The broker is assuming Elders pays around $30 million for a bolt-on acquisition in the fragmented Australian agriculture market.

UBS’ M&A target can be achieved if the acquisition is priced at 4-5 times enterprise value-to-EBIT (EV/EBIT).

ASX shares in the M&A spotlight

“We think acquisitions will seek to increase Elders’ supply chain capabilities or fill footprint gaps in high value agriculture areas the company is underrepresented in,” added the broker.

This is the season for M&As. You only need to look at recent headlines to see that takeovers are the flavour of the day. The attempted merger between Santos Ltd (ASX: STO) and Oil Search Ltd (ASX: OSH) is only one of the many recent examples.

Is the Elders share price cheap?

Meanwhile, it also helps that the Elders share price is cheap. Elders is trading around a FY22 EV/EBIT of 13x. This is a 35% discount to the ASX Small Industrials index when its average discount is 20%, according to UBS.

The broker’s 12-month price target on the Elders share price is $12.79 a share.

The post Why the Elders (ASX:ELD) share price is outperforming today appeared first on The Motley Fool Australia.

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• Why BHP, HUB24, Qantas, & Santos shares are dropping today
• Here are 3 of the ASX 200’s most heavily traded shares on Tuesday
• Oil Search (ASX:OSH) share price jumps 6% after rejecting takeover bid
• ANZ’s (ASX:ANZ) $1.5bn buyback puts other ASX 200 banks under capital return spotlight
• ASX 200 midday update: Oil Search rejects Santos merger proposal, Afterpay rolls out Money app

Motley Fool contributor Brendon Lau owns shares of Elders Limited, Nufarm Limited, and Santos Limited. Connect with me on Twitter @brenlau.

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 Elders Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The EROAD Ltd (ASX: ERD) share price is ending its consecutive run of green days today following the opening of its Share Purchase Plan (SPP).

Established in 2000, EROAD is a technology, tolling and services provider based in Auckland, New Zealand. The company designs and manufactures in-vehicle hardware providing road charging, compliance and commercial services.

At market close, the transport technology company’s shares finished 2.21% down, to $6.20.

EROAD begins Share Purchase Plan offer

Investors are weighing down EROAD shares after the company’s latest announcement to the ASX.

According to its release, EROAD commenced a NZ$16.1 million (A$15.19 million) non-underwritten SPP.

The SPP follows the company’s NZ$64.4 million (A$60.77 million) placement to partly fund the acquisition of telematics provider Coretex. This consists of an upfront fee of NZ$157.7 million (A$148.71 million) and NZ$30.6 million (A$28.85 million) in contingent consideration payable in FY 2023.

EROAD management believes the takeover will be transformational, positioning it as a bigger player in the global telematics market.

The shares of the SPP will be issued at the lower of the price paid by investors in EROAD’s recent placement. This is NZ$5.58 (A$5.26) per new ordinary share.

The company stated that up to $30,000 worth of shares can be applied for. However, it may accept oversubscriptions or scale back applications at its discretion based on the result of the SPP.

Settlement of the shares from the SPP is expected to occur on 13 August 2021.

About the EROAD share price

Over the last 12 months, EROAD shares pushed higher to reach an all-time high of $6.51 yesterday. This brings the share price gain for the period to around 56% and almost 33% higher for 2021.

At today’s price, EROAD commands a market capitalisation of roughly $511 million, with approximately 81 million shares on its registry.

The post EROAD (ASX:ERD) share price slumps on opening of SPP appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended EROAD Limited. The Motley Fool Australia owns shares of and has recommended EROAD Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Beach Energy Ltd (ASX: BPT) shares have spent all of Tuesday’s session so far in the red. At the time of writing, the Beach Energy share price is trading 2.15% lower at $1.25. Whilst the wider market is also trending lower, the S&P/ASX 200 Index (ASX: XJO) is currently only down by 0.41%

There has been no market-sensitive information released by the company today but let’s take a look at what it’s been up to lately that may be contributing to today’s negative share price action.

But first – what is Beach Energy?

Beach Energy is an Australian oil and natural gas producer that has projects dotted across Australia and New Zealand.

Since forming in 1961, it has grown to be a major purveyor of Australia’s east cost natural gas supplies.

Beach Energy has a market capitalisation of around $2.9 billion at the time of writing.

What has Beach Energy been up to lately?

The Beach Energy share price lost considerable momentum when the company provided its results for Q3 FY21.

In the report, Beach outlined its production had dropped 5% from the previous quarter and had declined 15% year on year.

The company also made major downgrades to its oil reserves, sparked by the dismantling of its Western Flank 2P oil reserve estimates.

From the review into Western Flank 2P, Beach recalibrated a net downgrade in reserves of 13.4 million barrels of oil.

The net downgrade totalled a ~5% write down in Beach Energy’s total reserves at its Western Flank 2P site.

As a result, the company withdrew guidance over the coming 5 years, whilst concurrently downgrading FY21 guidance by around 5% to 6.5%.

Investors immediately punished the company, wiping $900 million in market capitalisation off the company’s value on the day of the announcement.

Since the announcements were made on 29 April, the Beach Energy share price has plummeted around 26% into the red.

One might even venture to say, ‘life’s a beach‘ for the company lately.

Beach Energy share price snapshot

Beach Energy shares have declined by around 15% over the previous 12 months, spurred on by a 31% loss since 1 January this year.

In contrast, the ASX 200 has posted a year-to-date return of around 10%.

Beach Energy trades at a price-to-earnings (P/E) ratio of 8.3 at the time of writing.

The post Here’s why the Beach Energy (ASX:BPT) share price is in the red today appeared first on The Motley Fool Australia.

More reading

• What happened on the US stock market overnight and how could it impact ASX shares?
• ASX energy shares on watch after oil prices sink 8%
• 5 things to watch on the ASX 200 on Tuesday
• ASX energy shares in focus as OPEC+ strikes deal to lift oil production
• 5 things to watch on the ASX 200 on Tuesday

The author Zach Bristow has no positions 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 Bruce Jackson.

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It’s one thing to receive a sizeable income stream from an ASX dividend share. And it’s another thing to see its share price thump the benchmark.

But it’s not all too often that you find an ASX dividend share doing both.

Which brings us to today’s market-thumping ASX dividend share, Australia and New Zealand Banking GrpLtd (ASX: ANZ).

How has ANZ performed?

Last month I penned an article detailing the 10 ASX dividend shares paying the highest yields.

ANZ came in at the low end of the top-10 list in terms of its dividend yield. But it’s the only company in the elite group that has beaten the returns of the S&P/ASX 200 Index (ASX: XJO) by more than 100%, both over the past 12 months and year-to-date.

First, let’s look at the dividends.

At the current price of $27.26 per share, ANZ pays a trailing dividend yield of 3.82%, fully franked. In the current low interest rate environment, where you’ll be pleased to get 0.6% off a term deposit, that’s pretty solid. And ANZ has already covered your tax burden. (That’s the franking bit.)

ANZ also has continued to make its 2 annual dividend payments throughout the COVID-19 crisis. The most recent interim payout of 70 cents per share was delivered to shareholders on 1 July.

But atop paying a regular income stream, one that made our top 10 ASX dividend share list, ANZ shareholders have also enjoyed some market-thrashing share price gains.

ANZ’s share price gains more than double the ASX 200

A common trap for investors seeking income from ASX dividend shares is focusing solely on the dividend yield.

While that yield is obviously important, it doesn’t tell the whole story. That’s because the payout ratio is directly related to the share price. Meaning a trailing dividend yield can look quite juicy if a company’s share price has taken a big fall.

If a company’s share price has been falling, it’s worth researching the matter to see if you’re likely to see more capital losses in the months ahead.

This certainly has not been the case with ANZ. This top-10 ASX dividend share has gained 49.2% over the past 12 months. By comparison, the ASX 200 has gained 20.8% since this time last year.

ANZ has continued to outperform in 2021. Year-to-date the share price is up by 18.1%, more than double the 8.4% gains posted by the ASX 200.

Homing in on today’s share price action, the ASX 200 is down 0.29% in afternoon trade while the ANZ share price is up 0.74%.

The company is stirring investor interest after announcing a $1.5 billion share buy-back.

The post Top-10 ASX dividend share delivers market-thumping share price gains appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, ANZ, JB Hi-Fi, & Zip shares are pushing higher
• ANZ’s (ASX:ANZ) $1.5bn buyback puts other ASX 200 banks under capital return spotlight
• What happened on the US stock market overnight and how could it impact ASX shares?
• ANZ (ASX:ANZ) share price on watch after announcing $1.5bn buy-back
• 5 things to watch on the ASX 200 on Tuesday

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 Bruce Jackson.

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