The three ASX dividend shares in this article have a reputation for continually increasing their dividends.

Income growth from plenty of shares has been rare in 2020 because of the COVID-19 pandemic and its impacts.

With that in mind, these three ASX dividend shares keep growing their dividends for shareholders:

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

Soul Patts has the longest-running dividend growth streak record on the ASX. It has increased its dividend every year since 2000.

The ASX dividend share has an investment portfolio comprised of a number of different investments including TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW), Australian Pharmaceutical Industries Ltd (ASX: API), Bki Investment Co Ltd (ASX: BKI), Milton Corporation Limited (ASX: MLT), Clover Corporation Limited (ASX: CLV) and Palla Pharma Ltd (ASX: PAL).

The business funds its dividend from the cashflow from its investments, namely being the dividends and distributions. It retains some cashflow profit each year to invest into new opportunities.

Some of its latest investments include agriculture and luxury retirement homes. It has also made an investment into Retail Food Group Limited (ASX: RFG) and launched a takeover offer for Regis Healthcare Ltd (ASX: REG), but that was rejected.

Soul Patts currently has a fully franked dividend yield of 2%.

Sonic Healthcare Ltd (ASX: SHL)

This ASX dividend share has been increasing its dividend every year in a row for almost a decade.

Sonic is a global pathology business. It’s also involved in testing for COVID-19 cases in several of the countries that it operates.

The healthcare stock is actually seeing a return to growth in its core laboratory pathology business in most countries compared to the prior corresponding period, aside from the US and UK.

But the COVID-19 tests are adding to Sonic’s earnings this year. Sonic said that in the first three months of FY21 it generated total revenue growth of 29% and earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 71% after a focus on reducing costs.

Since that update the winter has seen an escalation of COVID-19 cases in the northern hemisphere. Indeed, the US is currently reporting daily new COVID-19 cases of around 200,000.

Sonic currently has a partially franked dividend yield of 2.6%.

APA Group (ASX: APA)

This ASX dividend share has increased its distribution every year for the past decade and a half.

APA owns a large network of 15,000km of natural gas pipelines around Australia with a presence in every mainland state and the Northern Territory. It also owns or has interests in gas storage facilities, gas-fired power stations and renewable energy generation (wind and solar farms). APA owns, or manages and operates, a portfolio of assets and delivers half the nation’s natural gas usage.

The infrastructure ASX dividend share funds its dividend from its operating cashflow. In FY20 it reported that its revenue went up 4.9%, EBITDA grew by 5.1% to $1.65 billion, operating cashflow rose by 8.3% to almost $1.1 billion and net profit after tax (NPAT) rose 10.1% to $317 million. The distribution was increased by 6.4% to 50 cents per unit in FY20. 

A few weeks ago APA announced it was investing up to $460 million to construct a new 580km pipeline in Western Australia to connect emerging gas fields in the Perth Basin to the resource rich Goldfields region to form an interconnected gas grid in WA. This Northern Goldfields Interconnect will connect to APA’s Goldfields Gas Pipeline (GGP). APA also said that this has the potential to unlock hundreds of millions of dollars of investment in the Goldfields region.

APA currently has a trailing distribution yield of 4.9%.

More reading

• 5 ASX dividend shares to buy for income in 2021
• 3 top ASX shares rated as buys by fund managers
• ASX 200 up again on Wednesday
• Why ‘ASX dividend king’ Soul Patts (ASX:SOL) is a top income share for 2021
• Washington H. Soul Pattinson (ASX:SOL) share price rises 2% after upbeat AGM

Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of APA Group. The Motley Fool Australia has recommended Sonic Healthcare 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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One area which has been tipped as a place to invest for the long term is the tech sector.

This is because this sector is filled to the brim with companies that have the potential to grow significantly in the future.

But which tech shares should you buy? Three to consider are listed below:

Kogan.com Ltd (ASX: KGN)

Kogan has been an outstanding performer this year thanks to the seismic shift to online shopping because of the pandemic. The ecommerce company has seen its customer numbers and sales grow materially, underpinning exceptional earnings growth. Kogan has also taken advantage of its impressive share price rise by raising funds to provide it with the firepower to make value accretive acquisitions. One of which was announced this month – the $122 million acquisition of New Zealand-based online retailer Mighty Ape. Analysts at Credit Suisse were pleased with the acquisition and put an outperform rating and $20.60 price target on its shares.

Nearmap Ltd (ASX: NEA)

Another tech share that is aiming to grow at a strong rate in the future is Nearmap. This leading aerial imagery technology and location data company is aiming to deliver annualised contract value (ACV) growth of 20% to 40% per annum over the long term. It is also targeting churn levels under 10%. This growth is expected to be underpinned by new growth initiatives and geographic expansion. The launch of new products, such as its highly rated AI product, should also be supportive of growth. Morgan Stanley is positive on the company’s prospects and has an overweight rating and $3.10 price target on its shares.

Pushpay Holdings Group Ltd (ASX: PPH)

Pushpay is a fast-growing donor management and engagement platform provider. It has been a very positive performer this year after its strong growth was bolstered by the pandemic. Pleasingly, this impressive form has continued in the first half of FY 2021. Pushpay delivered a 53% increase in operating revenue to US$85.6 million and a 177% jump in EBITDAF to US$26.7 million. This is still only scratching at the surface of management’s long term revenue target of US$1 billion. Goldman Sachs is a fan of the company. It has a conviction buy rating and ~$2.59 price target on its shares.

More reading

• ASX 200 falls on Tuesday
• Top ASX shares to buy in 2021
• Why the Pushpay (ASX:PPH) share price is in a trading halt
• 5 things to watch on the ASX 200 on Tuesday
• These are 10 of the best performing ASX tech shares of 2020 so far

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 Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended Kogan.com ltd and 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 three ASX growth shares in this article could be worth watching.

Let’s get into those names:

Bapcor Ltd (ASX: BAP)

Bapcor is an auto parts business that provides vehicle parts, accessories, equipment, service and solutions to the Asia Pacific region. It’s liked by the funds management outfit Wilson Asset Management. It’s a top-20 holding of the listed investment company WAM Research Limited (ASX: WAX).

A couple of months ago Bapcor released a trading update for FY21 which showed Bapcor’s total revenue had a fast growth rate of 27% over the prior corresponding period, with retail revenue rising 47% and specialist wholesale revenue going up 45%.

The fund manager said that the ASX share has benefited from an increase in domestic travel, reduced usage of public transport and increased second-hand car sales. WAM said that Bapcor has a strong balance sheet and the fund manager believes the company is well placed to make earnings-accretive acquisitions.

In the recent trading update, Bapcor CEO Darryl Abotomey spoke of the company’s defensive qualities: “The automotive market is a resilient industry and historically has performed strongly in difficult economic circumstances. Recent trading is another example of its resilience assisted by the increase in sales on second hand cars, reduction in use of public and shared transport modes as well as government stimulus.”

Audinate Group Ltd (ASX: AD8)

Audinate is an IT business which owns and operates the Dante platform which distributes and audio signals across computer networks. The ASX share says that it’s the lead supplier of digital and audio video networking for the professional AV industry.

In the most recent trading update for the first quarter of FY21, Audinate said that there had been a steady improvement in trading conditions since May. Audinate’s customer and market segments have been impacted differently so far.

Management said there is good momentum in the corporate conference and higher education, however Audinate said there are still challenging conditions in the live sound and large events sector because of COVID-19 impacts and restrictions.

Audinate revealed that in the first three months of FY21 it made US$5.2 million of revenue. The ASX share also made AU$0.3 million earnings before interest, tax, depreciation and amortisation (EBITDA).

One of the fund managers that likes Audinate is Climate Capital Ltd (ASX: CAM). It said that the recent sales resilience reflect the ASX share’s diverse customer base and industry unit volumes are expected to rise significantly in the coming years, with the company likely to capture a lot of this demand because it has an adoption rate that’s eight times higher than the nearest competitor.

EML Payments Ltd (ASX: EML)

This ASX share has a number of different payment services for clients to use. EML Payments has general purpose reloadable offerings such as gaming payouts with white label gaming cards, salary packaging cards, commission payouts and rewards programs. EML Payments also offers physical gift cards, shopping centre gift cards and digital gift cards. Finally, it offers virtual account numbers.

EML Payments is also seeing a recovery of its revenue and profit. In the first quarter of FY21, revenue grew 75% to $40.6 million compared to the prior corresponding period and that was 20% higher than the fourth quarter of FY20.

In that update it also reported it was comfortably profitable. It generated $10 million of earnings before interest, tax, depreciation and amortisation in the first quarter, which was up 215% compared to the prior corresponding period and up 69% compared to the FY20 fourth quarter.

More reading

• Aussie dollar breaking to new 30-month high will boost these ASX stocks
• 3 ASX tech shares to buy for the long term
• 3 top ASX shares rated as buys by fund managers
• 3 compelling ASX payment shares to buy
• 2 exciting small cap ASX shares to watch

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends EML Payments. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO, Bapcor, and EML Payments. 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 buy some dividend shares this month? Then listed below are two shares to take a closer look at.

Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

Accent is a leading footwear-focused retailer which owns a number of retail store brands. This includes the likes of HYPE DC, Platypus, The Athlete’s Foot, and Sneaker Lab. Accent has also recently launched a couple of new brands, Australian Stylerunner and Pivot. This is part of its store expansion plan, which is aiming to add approximately 80 new stores in FY 2021.

It has been a strong performer in 2020 despite the pandemic. For example, a recent update reveals that its like for like sales are up 15.7% during the first 20 weeks of the financial year, excluding its Auckland and Victorian stores. Management also advised that its online sales are up 129% over the period.

In light of this, analysts at Citi are forecasting a 7.5 cents per share dividend in FY 2021. Based on the current Accent share price, this represents a 3.5% dividend yield.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate investment trust (REIT). It owns a diversified portfolio of high quality Australian agricultural assets that are leased to experienced agricultural operators.

At the end of FY 2020, Rural Funds owned a total of 61 properties with a combined value of $1 billion and a weighted average lease expiry (WALE) of 10.9 years. From this, it was generating adjusted funds from operations (AFFO) of 11.7 cents per share, which allowed its board to declare a full year distribution of 10.8 cents per share.

Thanks to those long leases and rental increases, the company intends to grow this distribution by its 4% per annum target growth rate in FY 2021. This will mean a 11.28 cents per share distribution for shareholders. Based on the current Rural Funds share price, this works out to be a 4.55% yield.

More reading

• These ASX dividend shares will help you overcome low interest rates
• 5 ASX dividend shares to buy for income in 2021
• ASX retail shares gear up for Christmas boom
• Forget term deposits and buy these ASX dividend shares
• 2 highly rated ASX dividend shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia has recommended Accent Group. 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 Tuesday the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled lower. The benchmark index fell 0.45% to 6,631.3 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 to rebound.

It looks set to be a better day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 35 points or 0.5% higher this morning. This follows a solid night on Wall Street, which in late trade sees the Dow Jones up 1.1%, the S&P 500 up 1.2%, and the Nasdaq up 0.9%. Renewed stimulus hopes drove shares higher.

ANZ annual general meeting.

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price will be on watch today when it holds its annual general meeting. The banking giant could provide investors with an update on current trading and its COVID-19 loan deferrals.

Oil prices push higher.

Energy producers including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a solid day after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 1% to US$47.45 a barrel and the Brent crude oil price has climbed 0.65% to US$50.61 a barrel. Vaccine optimism Is helping drive oil prices higher.

Gold price rebounds.

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could be on the rise today after the gold price rebounded. According to CNBC, the spot gold price has jumped 1.3% to US$1,855.80 an ounce. Renewed COVID stimulus hopes was behind the rebound.

St Barbara given conviction buy rating.

The St Barbara Ltd (ASX: SBM) share price could be going a lot higher from here according to one leading broker. A note out of Goldman Sachs reveals that its analysts have a conviction buy rating and $4.10 price target on its shares. This compares to the current St Barbara share price of $2.45. The broker notes that St Barbara’s shares are trading at a significant discount to its gold peers.

More reading

• ASX 200 falls on Tuesday
• ASX 200 down 0.1%: APRA removes bank dividend restrictions, Fortescue slides, Zip higher
• What would more stimulus mean for ASX 200 shares?
• APRA removes dividend restrictions for the banks
• ANZ (ASX:ANZ) share price dips following joint-venture agreement

Motley Fool contributor James Mickleboro 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 covered recently, the Aussie dollar, our national currency, has been on fire over the past month or so, and is currently trading at a 2-year high.

Our Australian dollar is currently buying 75.18 US cents at the time of writing, but was buying as much as 75.72 US cents late last week.

Last week also saw the first time that the Aussie dollar has traded above 75 US cents since June 2018.

So with the Aussie riding high (and the greenback rising low), many ASX investors might be thinking that now is the time to buy US-listed shares. Since US shares are obviously traded in US dollars, a higher Aussie dollar means that these shares become relatively cheaper for us Australians to buy, since we first have to swap our dollars for greenbacks before trading.

As a hypothetical example, let’s assume that Apple Inc (NASDAQ: AAPL) shares are trading at US$100 each. If our dollar is at parity with the US, it will (of course) cost an Australian an even $100 to buy that share. But if our dollar is at 50 US cents (like it was getting close to back in March), that same US$100 share would cost an Aussie $200.

Ok, so it’s obvious that buying US shares today, when the Aussie dollar is at a 2-year high, presents a better opportunity to do so than at any time in the past 2 years (especially over the March lows). Purely from a currency perspective that is.

So does that mean you should join the Aussie investors buying Apple, Tesla Inc (NASDAQ: TSLA), AirBnB Inc (NASDAQ: ABNB) and the other US shares popular at the moment?

US shares remain high

Not necessarily. Remember, US shares are arguably far from cheap today. US indexes like the Dow Jones Industrial Average (INDEXDJX: .DJI), and the S&P 500 Index (INDEXSP: .INX) are pretty much at record highs. Apple shares are up 62% year to date, and up 112% since the lows of March. Tesla shares are up more than 600% year to date.

Getting a better deal on a currency conversion does not mitigate these gains. Remember, currency fluctuations between the Aussie and the greenback only give ‘one-off’ advantages or disadvantages. Those gains or losses don’t compound over time the way share price gains do. Thus, it’s probably better just to focus on the price you are paying for a company, rather than the exchange rate that is prevailing at any given time.

Now, if the exchange rate of our dollar is at a historically unsustainable level (say either 40 or 120 US cents), then it might make sense to invest based on that level. But the Aussie is not at any kind of ‘unprecedented high’ at the current rate, even though it hasn’t touched this level for a couple of years.  In fact, looking at data from Macrotrends, it appears to be pretty much at its long-term average right now.

Thus, it probably isn’t a good idea to buy US shares on a pure currency basis today.

More reading

• This is Jeff Bezos’s most important investing lesson
• Here are the US shares ASX investors are buying
• Can Tesla Q4 production meet soaring demand?
• How the 21st century actually started in 2020
• How Aussie tech investors snapped up Airbnb (NASDAQ:ABNB) IPO

Sebastian Bowen owns shares of Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple and Tesla. The Motley Fool Australia has recommended Apple. 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 Sheffield Resources Ltd (ASX: SFX) share price whizzed higher today, hitting a 52-week high of 48 cents in mid-afternoon trade before retreating. This comes after the Foreign Investment Review Board (FIRB) gave the nod for an investment by its proposed joint venture partner, YGH Australia Investment Pty Ltd.

At close of trade today, the Sheffield share price was swapping hands for 39 cents, up 21.87%.

What’s driving the Sheffield share price up today?

In today’s release, Sheffield advised that FIRB has cleared the pathway for Yansteel to invest $130.1 million in a 50% stake of the Thunderbird Mineral Sands project. The favourable outcome will see Sheffield and Yansteel become equal strategic partners.

Both parties will finalise their joint venture agreements in coming weeks. They will also conduct a feasibility study to assess the project potential, with a final investment decision expected next year.

More on the Thunderbird joint venture

The Thunderbird project is considered a high-quality site, located in the north-west Western Australian region. A bankable feasibility study in March 2017 found the area contained one of the largest – and highest-grade – mineral sands discovered in the last 30 years.

Should the project fulfil its potential, the 42-year mine life is estimated to generate earnings before interest, tax, depreciation and amortisation (EBITDA) of $5.1 billion.

What did management say?

Sheffield managing director Bruce McFadzean welcomed the result, saying:

The advice from FIRB is a positive step forward for Yansteel, Sheffield and the development of the Thunderbird Mineral Sands Project. It is a significant event for shareholders and the Kimberley community, demonstrating state and federal governments’ support for continued investment in the local resources sector.

Sheffield share price summary

The Sheffield share price reached a 52-week high of 48 cents today. While its shares dipped during the COVID-19 global crisis, the Sheffield share price has rebounded strongly since July.

More reading

• 3 ASX shares rated as buys by fundie
• Why Meteoric Resources (ASX:MEI) share price is soaring 6% higher
• ASX 200 falls on Tuesday
• Qantas (ASX:QAN) budget flights to exceed pre-COVID levels by March
• This is Jeff Bezos’s most important investing lesson

Motley Fool contributor Aaron Teboneras 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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There are some ASX shares worth buying and owning according to fund manager Naos Asset Management.

What is Naos Asset Management’s investment approach?

Naos is led by chief investment officer (CIO) Sebastian Evans. NAOS Ex-50 Opportunities Company Ltd (ASX: NAC) is one of the listed investment companies (LIC) operated by Naos.

That particular LIC generally looks at businesses with market capitalisations between $250 million and $6 billion. That’s what Naos deems to be a ‘mid-cap’.

The fund manager has a number of investment focuses. It looks for businesses that are good value with long term growth potential. With its portfolio, Naos believes it’s better to have a quality portfolio rather than numerous holdings. That’s why it only holds around 10 positions in each fund, with each ASX share representing a high-conviction position.

Naos invests in the small cap ASX shares and mid caps for the long-term. It considers the performance and the liquidity of its positions whilst ignoring the index. Performance can sometimes be quite variable when compared to the index.

It looks to invest purely in industrial companies whilst also considering the ESG factors (environmental, social and governance).

Here are three ASX shares worth owning, according to Naos:

Objective Corporation Limited (ASX: OCL)

Naos describes Objective Corporation as a business that’s founder led and provides specialist software for regulated industries such as government, councils and financial services. The fundie says that Objective has mission critical software, built on providing improved governance, service delivery and workflow-process efficiency.

The fund manager says Objective Corporation is a global leader in the space, with over 1,000 customers and 10 product offerings across many countries.

The ASX share held its annual general meeting recently and released a detailed presentation. Whilst there were no new comments provided, Naos thought there were a few interesting comments that supported the view of long-term growth of the business. One comment related to FY21 guidance being reiterated for “material growth in revenue and profitability”. Another comment was about how acquisitions remain a core part of the strategy. Finally, more detail was provided about how the integration of iTree, together with the recent product launches of Gov365 and Objective Build is progressing.

Naos said that with annualised recurring revenue (ARR) now standing at $53 million, the fundie believes the ASX share is on target to achieve, or even exceed, the long term ARR ambition of more than $127 million.

Eureka Group Holdings Ltd (ASX: EGH)

According to Naos, Eureka Group is a provider of quality and affordable rental accommodation for independent seniors within a community environment. Eureka owns 30 villages and manages a further nine villages with a total of more than 2,000 places across Queensland, Tasmania, South Australia, Victoria and New South Wales.

Eureka recently held its annual general meeting (AGM) and the ASX share gave a market update in early November which included FY21 earnings before interest, tax, depreciation and amortisation (EBITDA) guidance of $9.8 million to $10.2 million. This equates to growth of 21% to 26% compared to the prior corresponding period. Occupancy has remained above 95% and the business still wants to sell non-core assets, which will provide the funding for organic growth and acquisition opportunities that Eureka is targeting.

The fund manager believes Eureka has multiple levers that can be pulled to help earnings growth at a significant rate going forward, and when overlaid with the current industry tailwinds, Naos thinks Eureka will be highly attractive to investors, particularly in this low interest environment as investors seek returns.

Experience Co Ltd (ASX: EXP)

Experience Co is a business that is one of the largest adventure tourism businesses with experiences like tandem skydiving, indigenous experiences and tours to the Great Barrier Reef. The company currently has numerous locations throughout Australia and New Zealand.

Naos said that with many of the domestic state borders being opened, or expected to be opened in the near future, Experience Co will have a strong tailwind from this leading into the key summer holiday season.

The Australian operations are currently operating at between 30% to 40% capacity compared to the prior corresponding period. Naos believes there is significant earnings potential from greater domestic demand which may lead to greater profit leverage. The fund manager thinks Experience Co will emerge with a much more efficient business, lower costs and a greatly reduced commission model to third party sellers which may result in EBITDA being significantly higher than the results it generated under the previous management’s strategy.

More reading

• 3 little-known small cap ASX shares rated as buys by fundie
• The 13 ASX shares that could have doubled your money in 2020
• The Objective Corp (ASX:OCL) share price is up ahead of AGM
• Ask a fund manager: Totus Capital’s Sam Granger reveals the methods behind his outperforming High Conviction Fund
• 3 little-known ASX shares rated as buys by fundie

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 EXPERNCECO FPO and Objective Limited. 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 Meteoric Resources NL (ASX: MEI) share price lived up to its name today, surging up 6.35% to close at 6.7 cents.

This reflects a 120% boost year-to-date and follows the company’s positive announcement on its capital raising. In comparison, the wider All Ordinaries Index (ASX: XAO) closed 0.49% down at 6866 points.

What’s lifting the Meteoric Resources share price today?

In this morning’s ASX release, Meteoric Resources announced a successful capital raising to accelerate its drilling programs.

The company reported it has firm commitments to raise up to $4 million before costs at an issue price of 5.7 cents per share to sophisticated and professional investors. That includes $2 million from an investment syndicate spearheaded by ‘legendary resources’ investor Keith Biggs.

Meteoric plans to use the funds to accelerate its promising drilling exploration programs in Brazil and Western Australia. That includes extending its drilling further southwest at Butchers Creek and the drilling in early 2021 of a new giant IP anomaly located beneath Juruena.

Commenting to the capital raising, Meteoric Resources managing director Andrew Tunks said:

We are delighted with the support shown to us by our existing shareholders which will enable us to continue our consistent in the ground exploration spend. Despite the global troubles of 2020, the MEI exploration teams have delivered some remarkable drilling results across both our projects…

At Palm Springs, in what was our first drilling program, we have extended known mineralisation from the historic Butchers Creek Open Pit over 360m south and delivered some amazing results…To top off a remarkable year, we completed a deep IP/MT survey across the Juruena Project and delineated a giant IP chargeability anomaly which we will drill test in early 2021.

Company snapshot

Meteoric Resources is a mineral exploration company focused on iron, gold, copper, and nickel deposits. It has projects in Brazil, Canada, Western Australia, and the Northern Territory. These include Juruena Gold Project, Brazil; Palm Springs Gold Project, Western Australia; Novo Astro Project; Warrego North Project; and Webb Diamond JV.

From mid-January through to 6 May, the Meteoric share price was anything but meteoric, tumbling 75%. Since those lows, shares have surged an eye-popping 560%. That’s enough to put Meteoric Resources share price up 120% year-to-date.

More reading

• Why the Cardiex (ASX:CDX) share price, up 73% in 2020, is gaining again today
• Why the Immuron (ASX:IMC) share price is rocketing up 10% today
• Here’s why the Zelira (ASX:ZLD) share price just rocketed to a new high
• Why the Botanix (ASX:BOT) share price is soaring up today
• ASX 200 Weekly Wrap: ASX 200 hits a 6! Thank iron ore

Motley Fool contributor Bernd Struben 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 S&P/ASX 200 Index (ASX: XJO) ended 0.4% lower today to 6,631 points as iron ore miners fell backwards.

Here are some of the highlights from the ASX:

Zip Co Ltd (ASX: Z1P) partners with Harvey Norman Holdings Limited (ASX: HVN)

The Zip share price went down 1% and the Harvey Norman share price rose 0.2% after it was announced that the two businesses are going to work together.

Zip will be partnering with Harvey Norman, Domayne and Joyce Mayne franchisees to offer Zip’s buy now, pay later payment solutions.

Peter Gray, who is the co-founder and chief operations officer, said: “We are thrilled to partner with such iconic brands. We look forward to providing customers with additional choice and better ways to pay as they shop with confidence at Harvey Norman, Domayne and Joyce Mayne.”

Zip said this partnership with Harvey Norman continues to deliver on its strategic vision of providing customers with convenience and choice in how they choose to pay, while also driving towards Zip’s mission to be the first payment choice everywhere and every day.

APRA lifts dividend restrictions

The Australian Prudential Regulation Authority (APRA) has provided updated capital management guidance to authorised deposit-taking institutions (ADIs) and insurers. It has lifted the limit where it told banks to retain at least half of their earnings.

From the start of 2021, banks won’t have to hold onto a minimum level of earnings retention.

APRA Chair Wayne Byres said an improved economic outlook and the capital strength of the banking system have enabled a change in APRA’s capital management guidance.

He also said: “A decade-long process of increasing capital levels and bolstering resilience in the banking system has put Australian banks in their current position of strength, allowing the sector to support customers and the broader economy at a time of crisis.

“The results of APRA’s extensive ADI stress testing provide reassurance that the banking system remains well positioned to absorb the impact of a severe economic shock and retain the capacity to continue supplying credit into the economy.

“While the reduction in the number of loan repayment deferrals and improved economic outlook have allowed APRA to relax its July guidance for ADIs to retain at least half their earnings, the boards of ADIs and insurers are expected to maintain a prudent approach to capital management and dividend payouts.”

The Commonwealth Bank of Australia (ASX: CBA) share price dropped 1%, the Westpac Banking Corp (ASX: WBC) share price fell 0.5%, the National Australia Bank Ltd. (ASX: NAB) share price almost fell around 0.7% and the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price fell 0.9%.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price didn’t move today because it went into a trading halt.

Pushpay is doing an underwritten bookbuild to facilitate a sell down of shares held by interests associated with co-founder Chris Heaslip (former CEO and former director) and interests associated with executive and ‘visionary’ Chris Fowler.

The sale is for 54.68 million shares, which is almost 5% of the issued Pushpay capital, comprising 41.67 million shares held by interests related to Chris Heaslip and 13.01 million shares associated with Chris Fowler.

After the transaction, Mr Heaslip’s interests’ stake in Pushpay will reduce from 4% to 0.2% and the Fowler interests’ stake in Pushpay will reduce from 2.4% to 1.2%.

Pushpay said that the sale will provide further free float and liquidity and is underwritten at a floor price of NZ$1.75 per share, which is a 7.4% discount to the last closing price.

As part of the announcement, Pushpay re-iterated its earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) guidance for FY21 of US$54 million to US$58 million. However, the company said that uncertainties and impacts surrounding COVID-19 and the broader US economic environment remain.

More reading

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• ASX 200 down 0.1%: APRA removes bank dividend restrictions, Fortescue slides, Zip higher
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• APRA removes dividend restrictions for the banks

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 PUSHPAY FPO NZX and ZIPCOLTD FPO. 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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