The Coca-Cola Amatil Ltd (ASX: CCL) share price is one to watch today after the company announced updated earnings guidance this morning.

Why is the Coca-Cola Amatil share price on watch?

The Aussie bottling group provided an initial, unaudited trading update for Q4 2020 and the full year ended 31 December 2020 (FY20). Coca-Cola is expecting to deliver FY20 ongoing earnings before interest and tax (EBIT) before non-trading items down 13.9% on FY19 to $550.7 million.

Group managing director Alison Watkins said the group saw “strong trading performance” in the Q4 2020 Christmas period. That was especially the case in the Australian grocery channel with broader strong performance in New Zealand.

“Month to month volatility” is expected to persist, particularly in Australia. Ms Watkins cited variability in trading conditions from state to state under coronavirus restrictions as a key factor.

Coca-Cola’s Indonesian business is facing “challenging” trading conditions. That comes as the country continues to battle COVID-19 outbreaks and difficult macroeconomic conditions. Indonesian volumes fell 18.7% for the quarter thanks to lower consumer mobility and economic activity.

It will be interesting to see how the Coca-Cola Amatil share price performs this morning following this latest earnings update. Coca-Cola saw FY20 group volumes fall 5.4% lower for the quarter and 8.4% for the year. Low FY20 volumes impacted on group revenue which fell 6.1% to $4,762.1 million.

The group EBIT result of $550.4 million includes an expected $140 million of cost savings due to efficiency gains announced at the start of COVID-19. There was also the Q4 2020 uplift as Victorian restrictions eased and business activity resumed late in the year.

In Australia, grocery (+5.0%) and convenience & petroleum (+6.7%) saw strong growth throughout FY2020 despite on-the-go volumes falling 8.3% for the year.

Foolish takeaway

The Coca-Cola Amatil share price is one to watch in early trade after the company updated its guidance for Q4 2020 and FY2020. Shares in the Aussie bottling company are up 7.9% in the last 12 months compared to a 4.3% drop in the S&P/ASX 200 Index (ASX: XJO).

More reading

• The ASX 200 stock facing a day of reckoning at the February reporting season
• Citi sees bigger takeover offer coming for Coca-Cola Amatil (ASX:CCL) share price

Motley Fool contributor Ken Hall 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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As we embark on another year on the ASX, a dominant theme from last year is still very much at play. That would be the near-zero interest rates we are currently experiencing. 

If you thought the interest you could receive from your savings accounts and term deposits was pathetic in 2020, it’s quite likely things will not improve in 2021, given that interest rates are predicted to remain low for at least a few years. This means many income investors are increasing turning to ASX dividend shares seeking more attractive returns.

After a torrid year for income investors last year, getting a decent and secure yield from the share market is high on many ASX investors’ priority lists. So, to that end, let’s take a look at 3 ASX dividend shares:

3 ASX dividend shares for 2021 and beyond

Telstra Corporation Ltd (ASX: TLS)

In contrast to the big banks, Telstra kept its (arguably generous) dividend of 16 cents per share steady last year. It seems the even more intense love affair Aussies developed with on-demand TV and other online entertainment during the pandemic was good for an internet and network provider. On current pricing, Telstra’s 16 cent dividend is worth around 5.05% (or 7.21% grossed-up with full franking).

At the company’s annual general meeting last year, Telstra’s management stated that keeping this dividend steady in 2021 was a top priority for the company. That bodes well for income investors.

Coles Group Ltd (ASX: COL)

Coles is another robust ASX dividend share for income investors to consider. It was one of the few ASX blue chips that arguably benefitted from the pandemic last year as consumers stocked up their pantries with life’s essentials. This was highlighted when Coles raised its final dividend last year by 14%. That looks pretty good considering other companies were slashing their shareholder payouts left and right.

There’s a lot to be said for owning a company that sells food, drinks and other household essentials we all need. On current pricing, Coles’ 57.5 cents per share trailing dividend is worth around 3.18% (or 4.54% grossed-up with full franking).

Washington H. Soul Pattinson & Co. Ltd (ASX: SOL)

A final ASX dividend share to consider is ‘Soul Patts’. One could argue this industrial conglomerate is a contender for one of the best dividend shares on the ASX today. This is evidenced by the fact that Soul Patts is the only ASX company to deliver 20 consecutive annual dividend increases (a record that was upheld in 2020). Yes, this company has managed to not just keep, but grow, its dividend through both the global financial crisis and the coronavirus recession.

Soul Patts is more of a holding company these days. It owns massive stakes in a variety of other ASX shares, including Brickworks Limited (ASX: BKW) and TPG Telecom Ltd (ASX: TPG). On current pricing, Soul Patts offers a trailing dividend yield of 2.07% (or 2.96% grossed-up with full franking).

More reading

• Why the Soul Patts (ASX:SOL) share price will be on watch today
• ASX dividends will be up 30% this year: fundie
• 2 quality ASX dividend shares for income investors to buy
• 5 things to watch on the ASX 200 on Friday
• 3 reasons why Soul Patts (ASX:SOL) is a great ASX dividend share

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Brickworks, Telstra Limited, and Washington H. Soul Pattinson and Company Limited. 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 Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price will be on watch this morning. This comes after the investment house announced an unsecured senior convertible notes offer after yesterday’s market close. The Soul Patts share price finished Thursday’s session 1.2% higher at $29.00.

Why will the Soul Patts share price be in focus?

Investors will be keeping an eye on the Soul Patts share price this morning after the company advised it’s launching a $250 million unsecured convertible notes offer to eligible investors. The offer will consist of a base issue size of $225 million, with a further $25 million upsize option. The notes have a 5-year maturity date, expiring January 2026, at which time they will be converted to fully-paid ordinary shares.

The net proceeds of Soul Patts’ latest offer is expected to reign in between $221 million and $246 million. This is after associated fees and administrative expenses to launch the convertible notes.

The investment conglomerate revealed that most of the funds received will be used to repay around $200 million of existing debt. The remaining amount will be allocated towards increasing the company’s capital position.

In addition, Souls Patts stated it will apply for the offer to be listed on the Singapore Exchange Securities Trading. This will broaden the notes to eligible shareholders across the other exchange hub.

As more Soul Patts shares will be added to the register, the Australian branch of investment bank UBS, will offload some ordinary Soul Patts shares to reduce share dilution. The agreed sale price for these shares will be placed at $27.99 per share.

Furthermore, Brickworks Limited (ASX: BKW), of which Soul Patts owns more than 40%, proposed to enter into a market stock loan facility. The agreement, pending documentation approval, will see 3 million Soul Patts shares issued to Brickworks for 12 months.

What did management say?

Soul Patts managing director and CEO Mr Todd Barlow commented on the notes offer:

We are excited to introduce a new group of global investors to support WHSP’s growth strategy. The majority of the net proceeds from the Offering will be used to repay approximately A$200 million of existing financial indebtedness which will lower WHSP’s average cost of debt and increase WHSP’s debt maturity profile. The remaining proceeds will be applied to further strengthen WHSP’s liquidity position. Following the Offering, WHSP will continue to have low gearing and diversified sources of funding.

Soul Patts share price snapshot

Over the last 12 months, the Soul Patts share price has risen almost 30%, reflecting stable gains for the company.

Its shares dipped to a low of $16.66 in March due to COVID-19, but have been on an upwards trajectory since. Last month, the Soul Patts share price reached an all-time high of $30.84.

More reading

• 5 things to watch on the ASX 200 on Friday
• 3 reasons why Soul Patts (ASX:SOL) is a great ASX dividend share
• 3 high-yielding ASX 200 dividend shares
• Why Frontier Digital Ventures, JB Hi-Fi, Regis, & Tyro are dropping lower
• Here’s why the Regis Healthcare (ASX:REG) share price is crashing 11% lower

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company 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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Share markets will hit record highs this year because of one move that Joe Biden has already made.

That’s according to DeVere Group chief executive Nigel Green, who explained the appointment of Janet Yellen as US Treasury secretary is a very positive development for equities. 

“Despite the inauguration pomp and ceremony at the Capitol, investors’ focus is now already on Janet Yellen, who will take over from Steve Mnuchin as US Treasury secretary,” he said.

“In her testimony in congress on Tuesday, the former Federal Reserve chair called on lawmakers to ‘act big’ on coronavirus stimulus especially with interest rates being at historic lows.”

Back at the Federal Reserve last decade, she was focused on achieving full employment. In fact, she remains the only chair to see jobs added every month of their term.

Yellen’s track record proves she is prepared to spend to achieve her aims, according to Green.

“With Ms Yellen in charge and with an economy that needs a shot in the arm, I think we can expect massive spending combined with continued ultra-low interest rates for years,” he said.

“This will act as a catalyst for stock markets.”

BetaShares director Adam O’Connor also expected fiscal stimulus to be a high priority for the new administration.

He said there are “expectations of anywhere from $600 billion to $1 trillion in pandemic relief on top of the recently enacted $900 billion package”. 

“Tax increases to finance additional spending are also likely to follow later on.”

She hasn’t even been officially installed yet, but even during Yellen’s congress testimony this week the US dollar sank — indicating investors’ money shifted from safe havens, like currencies, to go towards shares.

White House stability is good for shares too

The predictability that the Biden administration is expected to provide would also be a boon for stocks, said Green.

“There will be peaks and troughs as always, but with these policies and greater stability in the White House, I believe, we could see markets produce even higher highs in 2021 than in 2020.”

Switzer Group founder Peter Switzer agreed the US market, and by extension Australian shares, is on the way up.

“Under Joe Biden, I expect the US to grow stronger in 2021 and 2022, which will be good for the world economy and us as exporters,” he said.

“It’s why the share price of local company, Woodside Petroleum Limited (ASX: WPL), in the oil and gas space, has seen its share price go from $16.80 in October to $27.40 [on Wednesday].”

More reading

• 5 things to watch on the ASX 200 on Friday
• What a dramatic day in the US could mean for ASX shares in 2021
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 drops 0.8%
• Why the Woodside Petroleum (ASX:WPL) share price is dropping lower today

Motley Fool contributor Tony Yoo 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 Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price could jump higher on Friday following the release of a trading update.

In New Zealand, the Fisher & Paykel Healthcare share price is currently up 6% in early trade.

How is Fisher & Paykel Healthcare performing?

Today’s update reveals that Fisher & Paykel Healthcare has continued to experience strong demand for its products in FY 2021.

According to the release, operating revenue for the nine months ended 31 December 2020 was up 73% in constant currency compared to the prior corresponding period.

The main driver of this growth has been its Hospital Product segment. This includes products that are used in acute and chronic respiratory care and surgery.

Hospital Products operating revenue grew 113% over the first nine months of the previous financial year in constant currency.

Over this same period, management notes that Hospital hardware grew 446% and hospital consumables grew 54%, both in constant currency.

Growth in the company’s Homecare Product segment has been a lot more subdued. This segment includes products used in the treatment of obstructive sleep apnoea (OSA) and respiratory support in the home. It competes head on with ResMed Inc (ASX: RMD) in this market.

The release explains that segment operating revenue grew 6% over the nine months to 31 December 2020 in constant currency.

Managing Director and Chief Executive Officer, Lewis Gradon, commented: “In many parts of the world, we have continued to see an influx of COVID-19 patients requiring hospitalisation for respiratory treatment.”

“Given the elevated hospitalisation rates for COVID-19, our hospital hardware sales have continued to be very strong, as has the use of our hospital hardware,” he added.

Outlook

When the company released its half year results, it provided investors with an idea of what it was expecting in FY 2021 based on a number of assumptions.

It guided to full year operating revenue of approximately NZ$1.72 billion and net profit after tax of approximately NZ$400 million to NZ$415 million.

This compares to FY 2020’s operating revenue of NZ$1.26 billion and net profit after tax of NZ$287.3 million.

Pleasingly, the company notes that these assumptions are now outdated and the company currently expects revenue and net profit after tax to be higher than previous expectations.

However, due to significant uncertainties associated with the course of COVID-19, no formal guidance has been provided and investors will need to wait for its full year results to find out how it performs.

More reading

• Do ASX mining companies carry the Australian share market?
• Which ASX 200 healthcare shares delivered the top returns in 2020?
• 3 top ASX share picks for 2021 from NZ brokers
• 7 top ASX biomedical shares in 2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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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Dividend shares will make a roaring comeback this year, according to one fund manager.

The Australian share market traditionally pays out higher dividends than its international counterparts because of the favourable tax laws. The high representation on the ASX from big banks and mining companies also helps.

But Tribeca Investment Partners portfolio manager Jun Bei Liu said this week that those payouts were slashed when the COVID-19 pandemic arrived.

“That’s a reason why Australian equities underperformed for a big part of [2020].”

With no idea as to how the virus would impact their bottom lines, businesses had to understandably preserve capital. Many companies popular with income-heavy retiree investors such as Westpac Banking Corp (ASX: WBC) and Telstra Corporation Ltd (ASX: TLS) reduced their dividends last year.

However, Liu predicted the good times would be back soon.

“In 2021, we’re expecting a dividend increase of 30% in Australia in aggregate,” she told a GSFM briefing.

“In the low bond yield and low interest rate environment, it looks incredibly attractive.”

The sectors to enjoy massive dividend boosts

In excess of the market-wide 30%, Liu named specific sectors that would reap the biggest yield increases.

“The materials sector – the dividend will increase close to 70%,” she said.

“Even with half the year not paying much of a dividend from the banks, they will pay close to 8% by the end of June.”

Real estate investment trust (REIT) and property-related shares would also see meaningful gains, Liu predicted.

“They will receive strong retail support, as well as from institutions.”

This is despite S&P Global Ratings’ depiction of the REIT sector as potentially sustaining permanent damage from the virus.

“S&P Global Ratings expects the fallout from the pandemic to extend well beyond lower rental collections over the next few months,” the analyst agency reported last week.

“The structural pain will prolong as faster adoption of e-commerce and changing consumption patterns continue to buffet the sector.”

Structural growth winners also worth Liu’s time

Liu’s fund will not just be looking at dividend shares this year though.

She was also keen to point out many growth companies will benefit from structural changes that arose from, or were accelerated by, the coronavirus pandemic.

“My view is that a portfolio will always have to have structural winners – because they will future-proof your portfolio,” said Liu.

“We like market leaders. We like companies that have a demonstrable track record, as well as a continually growing Total Addressable Market around the world.”

More reading

• 2 top ASX dividend shares with big yields
• Here’s why the Downer (ASX:DOW) share price is edging higher today
• 2 ASX dividend shares with 4%+ yields
• Telstra furious about freebies to Optus, TPG
• ASX dividends: Are miners the new bank shares?

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra 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 S&P/ASX 200 Index (ASX: XJO) was on form again on Thursday and stormed higher.

While a good number of shares climbed higher with the market, some climbed so much they hit new highs.

Here’s why these ASX shares have just hit 52-week highs or better:

Galaxy Resources Limited (ASX: GXY)

The Galaxy Resources share price continued its incredible run and hit a two and a half year high of $3.19 on Thursday. This means the lithium miner’s shares have now rallied 220% over the last six months. Investors have been scrambling to buy Galaxy and other lithium miners due to optimism over demand for the battery making ingredient thanks to the growing adoption of electric vehicles and US President Joe Biden’s plan to lead a transition to renewable energy. According to Metal Bulletin, China’s domestic battery-grade lithium carbonate prices rose to a 14-month high late last week.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price stormed to a record high of $15.88 yesterday. The catalyst for this was an announcement by the sports betting company which revealed that it has been given approval to operate within the state of Michigan in the United States. The Michigan Gaming Control Board has granted approval for PointsBet to begin online sports betting operations this week. This means the company is now able to operate in six states – Michigan, New Jersey, Iowa, Indiana, Illinois, and Colorado.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price climbed to a record high of $52.30 on Thursday. Investors have been buying the conglomerate’s shares thanks to its strong form in both FY 2020 and the current financial year. In respect to the latter, a trading update in November reveals that it delivered strong sales growth across the business during the first four months of FY 2021. The star of the show was arguably the key Bunnings business, which reported a 25.2% jump in sales during the period. This was driven partly by customers spending more time undertaking projects around the home.

More reading

• Why Megaport, Netwealth, PointsBet, & Zip shares are racing higher
• Here’s why the PointsBet (ASX:PBH) share price will be on watch today
• We have lift-off: Vulcan Energy (ASX:VUL) share price hits new heights
• ASX 200 Weekly Wrap: ASX drops despite promises of more US stimulus
• Buy these ASX dividend shares if the RBA cuts rates again

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of Wesfarmers Limited. 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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Are you looking to boost your portfolio with some dividend shares?

Then you might want to take a look at the ASX dividend shares listed below. Here’s what you need to know about them:

Coles Group Ltd (ASX: COL)

The first ASX dividend share to look at is Coles. This supermarket operator appears well-positioned to deliver a strong result in FY 2021 thanks to favourable consumer spending trends, its strong market position, and defensive qualities.

In fact, Goldman Sachs is expecting Coles to report a 9.2% increase in first half group sales to $20,585.9 million and a 10.5% lift in underlying net profit after tax to $540.4 million next month. This is expected to be driven by strong sales growth across its Supermarkets, Liquor, and Express businesses.

The broker expects this to lead to the Coles board increasing its interim dividend by 13.3% to a fully franked 34 cents per share. Based on the current Coles share price, this equates to a 3.75% dividend yield if annualised. Goldman Sachs has a buy rating and $21.10 price target on Coles shares.

Lendlease Group (ASX: LLC)

Another dividend share that Goldman Sachs is positive on is Lendlease. It is a global property and infrastructure company which is undergoing a major change to its strategy.

This strategy change is shifting its earnings mix and business model and looks to have positioned it perfectly for long term growth. Goldman is a big fan of the new strategy and expects its shares to rerate to higher multiples if it executes it successfully.

The broker has a buy rating and $16.65 price target on the company’s shares and is forecasting a 37.7 cents per share dividend in FY 2021. Based on the current Lendlease share price, this equates to a 3% yield. After which, a yield of 5.2% is expected in FY 2022 by the broker.

More reading

• 4 ASX shares picked for returns in 2021 by brokers and fundies
• What to expect from the Coles (ASX:COL) first half result
• ASX 200 Weekly Wrap: ASX drops despite promises of more US stimulus
• 2 high quality ASX dividend shares to buy
• Got money to invest for income? Here are 3 ASX 200 dividend shares

Motley Fool contributor James Mickleboro 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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On Thursday the S&P/ASX 200 Index (ASX: XJO) continued its winning streak and stormed higher again. The benchmark index jumped 0.8% to 6,823.7 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% lower this morning. This is despite it being a reasonably positive night of trade on Wall Street. Late on, the Dow Jones is up 0.1%, the S&P 500 is up 0.2%, and the Nasdaq index has jumped 0.6% higher.

Soul Patts convertible note

The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price will be on watch today after announcing a convertible note offering. The investment house is aiming to raise $250 million from the offering. The company intends to use the funds to repay debt and strengthen its liquidity position. The notes will be listed on the Singapore stock exchange.

Oil prices mixed

Energy producers such as Oil Search Ltd (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) will be in focus today after a mixed night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down 0.3% to US$53.15 a barrel and the Brent crude oil price has climbed 0.1% to US$56.11 a barrel. A surprise increase in US crude stockpiles weighed on the WTI crude oil price.

Gold price edges higher

It could be another positive day for gold miners such as Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) after the gold price pushed higher. According to CNBC, the spot gold price is up 0.15% to US$1,869.40 an ounce. Optimism over further US stimulus is supporting the gold price.

Netwealth given neutral rating

The Netwealth Group Ltd (ASX: NWL) share price could be fully valued now after storming higher on Thursday. According to a note out of Goldman Sachs, its analysts have held firm with their neutral rating but lifted the price target on this investment platform provider’s shares to $17.21. This follows its second quarter update, which included an upgrade to its guidance. Goldman prefers HUB24 Ltd (ASX: HUB).

More reading

• ASX 200 rises 0.8%
• 3 reasons why Soul Patts (ASX:SOL) is a great ASX dividend share
• What a dramatic day in the US could mean for ASX shares in 2021
• ASX 200 up 0.65%: Zip update impresses, Netwealth rockets, Cleanaway dumped
• Why Megaport, Netwealth, PointsBet, & Zip shares are racing higher

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 Hub24 Ltd and Netwealth. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Hub24 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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The S&P/ASX 200 Index (ASX: XJO) went up by 0.8% today to 6,824 points.

Here are some of the highlights from the ASX:

Zip Co Ltd (ASX: Z1P)

The Zip share price went up by 23% after releasing its quarterly update to 31 December 2020.

Zip said that its quarterly revenue went up 88% to $102 million, with December revenue rising 94% to $40.2 million.

The buy now, pay later business achieved record quarterly transaction volume of $1.6 billion, which was up 103% year on year. The December transaction volume rose by 104% to $628.4 million.

Transaction numbers for the quarter went up by 149% to 10.7 million.

Customer numbers increased by 97% to 5.7 million whilst merchant numbers grew by 73% to 38,500.

Zip said that its US business, QuadPay, delivered record results in the second quarter across all the core metrics with $673.1 million of transaction volume, $47.6 million of revenue and 915,000 new customers.

The company also raised $176.7 million in equity, with the majority of funds allocated to fuel US growth.

Zip’s managing director and CEO Larry Diamond said: “We are extremely pleased to deliver another exceptional set of numbers with the quarter really delivering a significant step change for the company, confirming our position as one of the fastest growing players in the sector. A number of strategic initiatives were delivered during the quarter, in line with our mission to become the first payment choice everywhere, every day, and we are extremely well placed to continue this momentum into 2021 as the global shift away from the broken credit card model continues. Particularly exciting were the results achieved in the US with Quadpay rapidly accelerating in the largest addressable market for BNPL.”

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway share price was the worst performer in the ASX 200. It dropped 8.5% after it was announced that the CEO would be leaving.

The leadership transition will commence in the first of 2021 after the board and CEO Vik Bansal mutually agreed that it is the right time for Cleanaway to move forward under new leadership.

Cleanaway Chair Mark Chellew said: “We thank Vik for his contribution in achieving a significant turnaround of Cleanaway over his period as CEO. Vik has led Cleanaway’s transformation and growth with enormous dedication, and it shows in the company’s financial results. We thank him for his service and wish him all the very best for the future.”

The waste management business pointed out that under Mr Bansal’s leadership, the company made a total shareholder return of around 300%, compared to 58% for the ASX 200.

Mr Chellew will become the Executive Chair whilst the company looks for a replacement CEO. He has experience leading a business after leading Adbri Ltd (ASX: ABC) for over 12 years.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price went up 11.7% today after giving its quarterly update to 31 December 2020.

The ASX 200 share said that funds under administration (FUA) went up by 14% to $38.8 billion. Compared to the prior corresponding period, it was an increase of 36.1%.

FUA net inflows was $2.6 billion for the quarter, an increase of $0.6 billion (33.7%) over the first quarter. FUA net inflows for the 2020 calendar year was $9.2 billion, an increase of 36.1% compared to 2019.

Funds under management (FUM) went up by 15.5% to $9.3 billion at December 2020. FUM net inflows for the quarter were $0.7 billion.

The managed account balance at 31 December 2020 was $7.6 billion, an increase of 74.1% compared to the prior corresponding period. Managed account net flows for the 2020 calendar year were $3.2 billion, an increase of 63.9%.

The FY21 FUA net inflows are expected to be in the range of $8.5 billion to $9 billion, an increase on the previously advised expected annual net inflows of $8 billion.

More reading

• Why Cleanaway, Crown, Pro Medicus, & Vulcan shares are tumbling lower
• ASX 200 up 0.65%: Zip update impresses, Netwealth rockets, Cleanaway dumped
• Why the Cleanaway (ASX:CWY) share price is plummeting today
• Why Megaport, Netwealth, PointsBet, & Zip shares are racing higher
• Why the Netwealth (ASX:NWL) share price zoomed 10% higher today

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 Netwealth and ZIPCOLTD FPO. 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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