Over in the United States share markets, there exists a group of characterisations that is rather interesting. Especially for a dividend-loving nation like ourselves. On US markets, a small and select group of companies enjoy the title of ‘dividend aristocrats’. An even smaller and more select group are entitled to crown themselves ‘dividend kings’.

If you haven’t heard these terms before, I wouldn’t blame you. We don’t have any companies on the ASX that can claim such a title. Let alone a crown.

That’s because a dividend aristocrat is named for having a 25-year history of not only paying an uninterrupted stream of dividends, but increasing said dividend every year. If you miss a year, you’re out of the club, and you have to start the clock again. For dividend kings, the streak must hit 50 years of steady dividend increases.

The US has dozens and dozens of dividend aristocrats, such as Caterpillar Inc (NYSE: CAT), AT&T Inc (NYSE: T) and Chevron Corporation (NYSE: CVX). It even has more than 30 dividend kings, including famous name like Coca-Cola Co (NYSE: KO), Altria Group Inc (NYSE: MO), Johnson & Johnson (NYSE: JNJ) and 3M Company (NYSE: MMM).

But the ASX has exactly zero dividend aristocrats. And forget about the kings.

The ASX’s only hope for a dividend aristocrat?

We do have one company that stands out above the rest though. That company is Washington H. Soul Pattinson & Co Ltd (ASX: SOL). There are a few ASX dividend shares with stellar dividend records. Ramsay Health Care Limited (ASX: RHC) is one. Brickworks Ltd (ASX: BKW) is another. But Ramsay broke a 20-year streak last year in the face of the pandemic. And Brickworks reset its clock back in 2012 when it didn’t increase its dividend.

Soul Patts, on the other hand, has increased its dividend every single year since the year 2000. That’s 20 out of 25 years. And this week, it confirmed it’s staying on track. Soul Patts announced an interim dividend of 26 cents per share to be paid on 14 May. That’s a 4% increase from 2020’s interim payout of 25 cents.

If it delivers a final dividend of 36 cents or higher later in the year, it will hit 21 years of annual dividend increases. It’s a pretty impressive track record when you consider that period includes both the global financial crisis and the pandemic. No wonder the Soul Patts share price hit an all-time high this week.

Another four years and we might have our own ASX dividend aristocrat!

More reading

• Brokers name 3 ASX shares to buy right now
• Brokers are bullish on these 4 ASX 200 shares
• ASX 200 rises, Brickworks builds, Netwealth sinks
• 2 ASX 200 shares that keep growing their dividends
• Why the Soul Pattinson (ASX:SOL) share price is climbing higher today

Sebastian Bowen owns shares of 3M, Altria Group, AT&T, Caterpillar, Coca-Cola, Johnson & Johnson, Ramsay Health Care Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends 3M and Johnson & Johnson. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Ramsay Health Care 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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Why should you pay attention to an ASX dividend share with a yield of at least 4% today? Two words: interest rates.

The Reserve Bank of Australia (RBA) has all-but promised us that the official cash rate will stay at its current record low of 0.1% until at least 2024.

That means that we can all expect lousy returns from any cash or fixed-interest investment until then. Thus, a 4% dividend yield from an ASX share could be a good way to escape this morass of low yields.

So here are 3 ASX dividend shares that offer grossed-up yields of 4% or greater on today’s pricing:

3 ASX dividend shares with a 4% yield or greater

Commonwealth Bank of Australia (ASX: CBA)

CBA, like all of the ASX banks, was hit hard in the coronavirus-induced recession last year. But it has also recovered rather well. CBA shares have risen more than 31% over the past 6 months. The prospect of returning dividends has driven a large part of this investor optimism.

Last month, CommBank announced an interim dividend of $1.50 per share. Together with the mid-pandemic dividend of 98 cents last year, that gives CBA shares a trailing dividend yield of 2.88%, or 4.11% grossed-up with full franking.

However, if we annualise the most recent payout of $1.50 (which might get us a more accurate picture of what is to come), we get a potential yield of 3.49%, or 4.98% grossed-up.

Rio Tinto Limited (ASX: RIO)

Mining giant Rio was one of the companies that emerged from last year’s recession largely unscathed. Investors can probably thank robust iron ore prices for that.

The record high commodity prices (especially iron ore) we have seen in recent months has enabled Rio to shovel cash out the door. Despite the company’s shares rising more than 25% over the past 12 months, Rio shares currently offer a trailing dividend yield of 5.55%, or a healthy 7.93% grossed-up with Rio’s full franking.

Coles Group Ltd (ASX: COL)

The Coles share price has not had some of its best few months recently. In fact, this grocery giant is still down around 13% year to date.

But, as enthusiastic dividend investors know, lower share prices mean higher dividend yields. Especially since Coles hiked its last dividend by 10%.

On current pricing, Coles’ dividend is worth a yield of 3.79%. That’s 5.41% grossed-up with full franking. It also looks pretty good against its arch-rival Woolworths Group Ltd (ASX: WOW) right now, which has only got a 2.49% yield on the table.

More reading

• Here’s why the Food Revolution (ASX:FOD) share price jumped 8% today
• What moved the Commonwealth Bank (ASX:CBA) share price this week
• 2 top ASX ETFs to buy right now
• Why is the Woolworths (ASX:WOW) share price up 5% in a week?
• Is CBA (ASX:CBA) the best bank for dividends in 2021

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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 Pushpay Holdings Group Ltd (ASX: PPH) share price has been on form this month.

Since the start of March, the donor management and community engagement platform provider’s shares have risen approximately 10%.

This means the Pushpay share price is now up 127% since this time last year.

What is Pushpay?

Pushpay is the leading donor management and community engagement platform provider in the faith and not for profit sectors.

The company started life as a mobile giving solution that made generosity easy and simple. Since then, it has grown to be a full mobile giving and engagement solution that serves over 7,000 churches around the world, connecting them to the local community and encouraging generosity.

While this is a niche market, it certainly is a lucrative one. For example, in FY 2020, Pushpay delivered a 32% increase in revenue to US$129.8 million.

But that is still only scratching at the surface of its overall market opportunity. Management estimates that the entire US medium to large church market is worth US$2 billion at present and has set itself a target of winning a 50% share of this market in the future. 

That’ll be worth US$1 billion and is a sizeable ~eight times greater than FY 2020’s revenue.

How will Pushpay achieve this?

The US$87.5 million acquisition of church management system provider Church Community Builder is expected to help Pushpay achieve this goal. This acquisition has strengthened its offering and led to the launch of ChurchStaq.

Churchstaq is the combination of its Pushpay and Church Community Builder software, bringing together digital giving, donor development, church apps, and church management software (ChMS). This delivers a fully integrated engagement platform to users. Demand has been strong for the offering and looks set to underpin further stellar sales and earnings growth in FY 2021.

Can the Pushpay share price go higher?

One broker that still believes the Pushpay share price can go higher is Goldman Sachs. Its analysts currently have a buy rating and ~$2.59 price target on its shares.

Based on the latest Pushpay share price, this implies potential upside of 42% over the next 12 months.

More reading

• Why Lynas, Oil Search, Pushpay, & Webjet shares are tumbling lower
• ASX 200 dips, travel shares drop, Pushpay soars
• Why Kathmandu, Pushpay, Sigma, & Vulcan shares are storming higher
• Here’s why the Pushpay (ASX:PPH) share price could surge higher today
• 3 of the best ASX shares to buy this month

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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 prices of ASX coal shares Whitehaven Coal Ltd (ASX: WHC), and Yancoal Australia Ltd (ASX: YAL) were mixed today as coal mining returned to full operations after the New South Wales floods.

At the close of trade today, shares in Whitehaven were down 1.41%, trading at $1.75, while Yancoal shares finished the day up 2.24% at $2.28.

NSW flooding subsides, mining resumes

Unprecedented flooding in NSW impacted mining operations throughout the state earlier this week.

According to the Australian Financial Review (AFR), rail lines in the Hunter were shut down, vessel movements out of the Port of Newcastle slowed, and operations were suspended at both Yancoal and Glencore PLC.

The Australian Rail Track Corporation (ARTC), which manages interstate railways, said on Wednesday it would resume “limited” rail operations in the Hunter Valley, between Newcastle and Maitland.

The government body said coal services “resumed in a limited capacity” following minor restoration works after floodwaters receded at Sandgate. The network between Narrabri North and Moree remained closed due to continued flooding in the north-west of the Hunter Valley Network.

Let’s take a look at how the 2 ASX coal shares fared as floodwaters recede and mining operations resume.

Whitehaven

Based in the Gunnedah Basin, Whitehaven relies on rail to freight its product to the Port of Newcastle.

While spared the massive downpours, the Gunnedah area faced disruptions as it was cut off from the Hunter Region floodwaters. The miner advised 3 days ago that its operations at mining sites, as well as at the Port of Newcastle, were hampered by the flooding.

When Motley Fool Australia reached for comment, a Whitehaven spokesperson advised there were no further updates regarding its operations.

Yancoal

Operating within the Hunter region, Yancoal advised today that production was resuming.

A company spokesperson told Motley Fool:

Production has now resumed at Yancoal’s open-cut MTW and Stratford/Duralie operations in the Hunter Valley region, following the recent heavy rainfall event. Further operational details will be provided in the 1Q 2021 production report, which will be released before the end of April.

ASX coal shares price snapshot

Both the Whitehaven and Yancoal share prices have surged over the last 6 months. Each company increasing value by 67.77% and 17.99%, respectively.

The recent rise in each companies’ share price is being attributed to the rise in coal price. Presently, coal is trading for US $92.22 a tonne, 53.37% higher than 6 months previously.

Whitehaven’s market capitalisation is $1.8 billion, while Yancoal’s is $2.9 billion.

More reading

• Some of the ASX 200 companies that drove Australian exports to record levels
• This primitive commodity is set to overtake the iron ore price rally
• What’s happening with the Whitehaven Coal (ASX:WHC) share price today?
• Why is the Whitehaven Coal (ASX:WHC) share price up 12% this month?
• How does China really feel about Australian iron ore and coal?

Motley Fool contributor Marc Sidarous 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 Oxford-AstraZeneca PLC (LON: AZN) COVID-19 vaccine has travelled a bumpy road through its development and rollout. Marred with accusations of the vaccine causing blood clots, regulatory and government pressures have weighed on the drug developer and its acceptance.  

According to the latest press release from AstraZeneca, the company has revised the vaccine’s efficacy from 79% to 76%, following further analysis with an additional 49 symptomatic COVID-19 cases.

Details of the COVID-19 vaccine findings

After scrutiny from the US National Institute of Allergy and Infectious Diseases for purportedly out-of-date data in the original phase 3 preliminary study, AstraZeneca conducted a fuller analysis to lay any claims to rest.

The findings, which were published yesterday, included 32,449 participants. Of those participants, 190 were symptomatic with COVID-19. This provided the drug developer an additional 49 cases compared to its original analysis.

Following the double-blind placebo study, AstraZeneca found its vaccine to have an efficacy of 76% rather than the previous 79%. Notably, the vaccine was found to have a 100% efficacy against severe or critical disease and hospitalisation. Furthermore, for individuals aged 65 years or older, the vaccine proved to be 85% effective.

Perhaps most importantly, considering the swarm of allegations, the vaccine was well tolerated, and no safety concerns related to the vaccine were identified.

Commenting on the further substantiated results, Executive Vice President Mere Pangalos stated:

The primary analysis is consistent with our previously released interim analysis and confirms that our COVID-19 vaccine is highly effective in adults, including those aged 65 years and over. We look forward to filing our regulatory submission for Emergency Use Authorization in the US and preparing for the rollout of millions of doses across America.

Australia’s AstraZeneca rollout in progress

The COVID-19 vaccine rollout continues in Australia. On Monday the government commenced phase 1B of the rollout. Phase 1B includes the following priority groups:

• Elderly adults aged 80 years and over
• Elderly adults aged 70 years and over
• Health care workers not vaccinated in phase 1A
• Aboriginal and Torres Strait Islander adults over 55
• Adults with a specified medical condition
• Adults with a severe disability who have a specified underlying medical condition
• Critical and high-risk workers including defence, police, fire, emergency services, and meat processing

The AstraZeneca vaccine was also recently approved by the Therapeutic Goods Administration (TGA) for local production by CSL Ltd (ASX: CSL) in Melbourne.

The biopharmaceutical giant sent out its first batch on Wednesday morning, containing 832,200 doses. Production is expected to ramp up as the company targets 50 million doses by the end of the year.

More reading

• Is the CSL (ASX:CSL) share price on the road to recovery?
• 2 blue chip ASX 200 shares that could be strong buys
• Top brokers name 3 ASX shares to buy today
• Down 18%: Is the CSL (ASX:CSL) share price a buy?
• Is now the time to invest into the CSL (ASX:CSL) share price?

Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. 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 Aurizon Holdings Ltd (ASX: AZJ) share price dipped slightly lower today. That’s despite the company finalising a deal to sell its Queensland rail terminal to Pacific National for $205 million.

The deal, which was announced in 2017, was initially blocked by the Australian Competition and Consumer Commission (ACCC), following a lengthy legal battle.

At close of trade, shares in the railway operator were trading for $3.88 – down 0.77%. By contrast, the S&P/ASX 200 Index (ASX: XJO) finished the day 0.49% higher.

Let’s take a closer look at the deal and its history.

Aurizon’s $205 million deal

The Aurizon share price fell today despite the cash injection. In a statement to the ASX, Aurizon announced the deal to sell the Acacia Ridge Terminal in Queensland was finalised. Before today’s announcement, Aurizon had already received a $35 million, non-refundable payment. The remaining $170 million was received today.

The company expects a tax bill of $40 million from the sale. When the Foreign Investment Review Board cleared the sale in February 2021, the contract became unconditional.

The sale marks the final stage of Aurizon’s exit from its “loss-making Intermodal business,” according to the company. There were 2 other stages:

1. Closure of the Interstate intermodal business (outside Queensland) completed in December 2017
2. Sale of the Queensland Intermodal business to Linfox which was completed on 31 January 2019 ($7.3 million received by Aurizon).

Aurizon vs the ACCC

In 2018, the ACCC announced its intentions to block the terminal’s sale. The government body cited its belief the sale would lessen competition and “would deter a new entrant from providing interstate rail linehaul services in competition with Pacific National.”

In 2019, the Federal Court dismissed the ACCC’s objections to the deal. The agency subsequently appealed the decision to the High Court. In 2020, the High Court refused to hear the case and thus, the Federal Court’s decision stood. Aurizon and Pacific National completed the deal soon after.

Aurizon share price snapshot

Over the last 12 months, the Aurizon share price has fallen 8.27%. Before the coronavirus crash of March last year, Aurizon shares were trading as high $5.65 in 2020.

Aurizon has a market capitalisation of $7.1 billion

More reading

• Top brokers name 3 ASX shares to sell today
• Is Australia’s stagnant wage growth worse than we thought?
• The 3 highest paying ASX 200 dividend shares

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Aurizon 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 Mineral Commodities Limited (ASX: MRC) share price spent today in freefall after the termination of its CEO. The notice was issued after close of trade yesterday, with today being the first time investors had the chance to react. 

The Mineral Commodities share price opened 2.8% down on yesterday’s close, but by midday it was down by 20% and at close of trade it hit a 25% loss.

Let’s look deeper into the CEO’s sacking.

“The Board’s relationship with, and the provision of CEO services by, Mr Caruso became untenable” 

Mineral Commodities reported last night that Mark Caruso was forced out of the role of CEO due to a “breakdown” between himself and the board.

What caused the breakdown is a mystery, with the only explanation given by the company vague.

According to the company, the CEO’s sacking followed a “commencement of enquiries into a potential related party matter”.

Perhaps foreseeing enquires into what the matter may be, the company continued: “Those enquiries are ongoing and the company is unable to provide further detail at this time.”

Your guess is as good as mine as to what muddied the relationship between Caruso and the board. Such ambiguity likely didn’t help Mineral Commodities’ share price today.

Caruso had held the role of CEO at Mineral Commodities since 2012.

The company’s chair, David Baker, and its non-executive director, Russell Tipper, will now take on the role of acting CEO. The board will begin its search for a replacement CEO immediately.

In its statement the company described the situation as “regrettable”. Particularly given Caruso’s contribution to its growth.

The company finished its announcement by reiterating the apparent necessity of the move.

“The Board has resolved that it is in the best interests of the Company, and in line with its legal and governance obligations to proceed in this way,” it said.

Mineral Commodities share price snapshot

After today’s drama, the Mineral Commodities share price has lost any gains it has made on the ASX in 2021. It’s currently down 25% year to date. Though, it’s still up 58% over the last 12 months.

At the time of writing, Mineral Commodities’ share price is 27 cents, down from its previous close of 36 cents.

The company has a market capitalisation of around $164 million, with approximately 456 million shares outstanding.

More reading

• Aurizon (ASX:AZJ) share price dips despite finalising $205 million sale
• Here’s why the Food Revolution (ASX:FOD) share price jumped 8% today
• The ASX 200 keeps climbing, TPG drops on Teoh departure, AMP still has a CEO
• ASX 200 travel shares poised to see pent up travel demand unleashed
• Where to reinvest your Telstra (ASX:TLS) dividends

Motley Fool contributor Brooke Cooper 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 Food Revolution Group Ltd (ASX: FOD) share price had a very healthy day today. The share price was sent shooting for the sky after the company provided an update on sales of its product at Coles Group Ltd (ASX: COL), and new deals with Woolworths Group Ltd (ASX: WOW) and Metcash Limited (ASX: MTS).

The Food Revolution share price was as high as 4.4 cents today – up 18.5%. At close of trade, shares in the food producer had retreated and are trading for 4 cents each – up 8.11%.

Let’s take a closer look at Food Revolution’s announcement with Coles and Woolworths.

What did Food Revolution announce today?

In a statement to the ASX, Food Revolution Group announced Metcash will sell its ‘Juice Lab Super Shots’ from April. As well, Woolworths Supermarket and Metro stores will stock the item from May. On 9 March, the company began selling its products at Coles stores.

In its announcement, Food Revolution said sales for the 60mL drink were already exceeding expectations. Coles ranges the ‘Super Shots’ in over 1000 stores already. The group sells the drink in 3 varieties – ‘Focus’, ‘Immunity’, and ‘Digest’.

Coles sells the product for a base price of $3.50, although this week it is on special for $2.00.

Words from the CEO

Speaking on today’s announcement, Food Revolution CEO Tony Rowlinson said

We are delighted as to the positive response to Juice Lab Wellness shots by our retail partners. Having FOD’s largest customer Woolworths onboard is a fantastic outcome.

The initial consumer offtake in Coles has been excellent and the team have done a good job meeting the increased demand. With consumers globally seeking products that deliver against immunity and provide functional benefits due to COVID- 19, we are well positioned with our extended range of wellness beverages and carbonated beverages to be rolled out into the market.

Getting the Juice Lab shots ranged provides us with the catalyst to introduce extended Juice Lab offerings.

The company estimates the Australian health and wellness market to be valued at $650 million.

Food Revolution share price snapshot

Despite today’s impressive gains, Food Revolution has been on a downward trend over the past year. 12 months ago, shares in the company were swapping hands at 7.2 cents each – a 41.7% drop in share price at today’s rate.

In fact, at the end of 2018, the Food Revolution share price was as high as 20 cents.

Food Revolution’s market capitalisation is $33.2 million.

More reading

• 2 top ASX ETFs to buy right now
• Don’t ever buy defensive shares: fundie
• 2 ASX 200 blue chip shares to buy
• Why is the Woolworths (ASX:WOW) share price up 5% in a week?
• How are ASX 200 shares faring in the carbon revolution?

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The S&P/ASX 200 Index (ASX: XJO) rose by around 0.5% to 6,824 points.

One business lost its talisman founder and this saw a heavy decline of its share price.

TPG Telecom Ltd (ASX: TPG)

The TPG share price fell by around 7% today after it was announced that David Teoh is resigning from his position from being the chair and a director.

Mr Teoh shared some comments about his thoughts of the business and his decision to leave:

I am proud and humbled to have led the company from its founding, through its exciting growth over the years, and most recently into its merger with Vodafone Hutchison Australia. There have been many challenges along the way, but I firmly believe that consumers in Australia have greatly benefited from TPG’s competitive business approach, and that they will continue to do so.

I am leaving TPG Telecom in good hands with Inaki and has team, and I am confident in its strong future. After nearly 30 years leading TPG, I feel that now is the right time for me to hand over the reins and focus on other interests.

TPG’s management said that the integration is progressing well between Vodafone Hutchison Australia and TPG and it has made a strong start as a merged company. It is trying to make the most of its significantly increased scaled and opportunities.

Pointsbet Holdings Ltd (ASX: PBH)

Pointsbet has announced that Pointsbet USA and Penn National Gaming have agreed to extend the online gaming services framework agreement to provide Pointsbet with online sports betting and iGaming market access in Pennsylvania and Mississippi, subject to enabling legislation and licensure in each of those states. Pennsylvania currently permits online sports betting and iGaming.

The company will pay Penn National Gaming a portion of the net gaming revenues derived from each additional state.

Pointsbet Group CEO Sam Swanell said:

We are very excited about adding another two guaranteed online market access points to our portfolio in Pennsylvania and Mississippi. A mature, total addressable sports betting and iGaming market in Pennsylvania is estimated to be over US$1.75 billion per annum. Further, Pennsylvania is home to Philadelphia, the fourth largest media market in the United States, inclusive of southern New Jersey and a regional pillar of the Comcast-NBC Universal asset portfolio. NBC Sports Philadelphia owns the in-game broadcast rights to the Phillies, 76ers, and Flyers covering over 290 live events per year across 4.1 million households.

AMP Limited (ASX: AMP)

Today, AMP confirmed there has been no change to the CEO’s position and that Mr De Ferrari has not resigned despite the media speculation.

The ASX 200 financial business said that the board and Mr De Ferrari are working together and constructively discussing the future strategy and leadership of the group, after the completion of AMP’s portfolio review.

Those discussions are ongoing and AMP will provide updates as required.

More reading

• ASX stock of the day: Pilbara Minerals (ASX:PLS) tops the ASX 200
• Why Galilee Energy, Hansen, Polynovo, & TPG shares are tumbling lower
• AMP (ASX:AMP) share price takes wild ride on CEO’s future
• 2 top ASX ETFs to buy right now
• Why the CIMIC (ASX:CIM) share price is lifting this morning

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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When COVID-19 morphed from a concerning new virus into a global pandemic in February 2020, S&P/ASX 200 Index (ASX: XJO) shares took a beating like never before.

Indeed the 33% selloff the market endured in a period of just 1 month (21 February through to 20 March) ranks as the most ferocious and rapid bear market in ASX 200 history.

While no shares were entirely spared in the initial wave of panic selling, ASX 200 travel shares took some of the heaviest losses.

ASX 200 travel shares smashed by border closures

When domestic and international air travel ground to a virtual standstill the Qantas Airways Ltd (ASX: QAN) share price plummeted 64%. The Sydney Airport (ASX: SYD) was also ravaged, losing 42% in that same month.

While both Sydney Airport and Qantas have regained much of those losses, the 2 ASX 200 travel shares remain well below their early pre-pandemic levels as they await the return of high-volume air traffic.

At the current $5.96 per share, Sydney Airport’s share price is down 34% from where it was trading on 27 December 2019.

Qantas, currently at $5.11 per share, is down 30% since that same date.

With those figures in mind, shareholders and investors sitting on the sidelines are eagerly waiting for travellers’ pent-up demand to be let off the leash.

The travel bug unleashed

Max Levchin is the CEO of United States’ based payments company Affirm Holdings Inc (NASDAQ: AFRM).

As Bloomberg reports, Affirm Holdings has been “striking partnerships in industries where he expects consumer demand to bounce back post-pandemic“.

These include US listed travel shares American Airlines Group Inc (NASDAQ: AAL) Delta Air Lines Inc (NYSE: DAL).

Why?

Levchin says as travel option reopen he expects:

[A] quarter, or maybe a year, of unstoppable desire to not be in the same city or same four walls… Everyone wants to go to Miami right now, and it’s a pretty good preview of what’s going to happen – you’ll see a good amount of travel, experience buying, all sorts of fun stuff is coming our way.

Of course, that unstoppable pent-up demand for travel won’t last forever.

As Levchin says, “The question is, how long will it take for people to say, ‘OK, I’ve got the travel bug out of the way?”

More reading

• How does the Afterpay (ASX:APT) share price size up against US-listed Affirm?
• Is the Affirm share price dragging ASX BNPL shares lower?
• Qantas (ASX:QAN) share price lifts after ACCC ruling
• The Regional Express (ASX:REX) share price has fallen after fresh Qantas challenge
• Did Powell just blink first in the Fed’s staring contest with inflation?

Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Delta Air Lines. 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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