Last week was one like no other in recent history. It will come as no surprise to anyone that the past week on the share market has been dominated by the United States presidential election.

Although the election was held on Tuesday 4 November (Wednesday 5 November for us Aussies), it took 4 painstaking days of anxious waiting before the election was deemed to have been won by the Democratic Party ticket of former Vice President Joe Biden for President and US Senator for California Kamala Harris for Vice President.

On the latest numbers (provided by the ABC News Election Desk), the Democratic ticket looks to have won approximately 50.6% of the popular vote against the Republican ticket’s 47.7%, with 91% of the total vote count tallied at the time of writing. Biden is now predicted to have won the vital swing states of Pennsylvania, Nevada, Arizona and Michigan.

In terms of the all-important electoral college, the ABC reports that the Biden ticket has received at least 290 electoral college votes against Trump’s 214 votes (270 is required to win), with the states of Alaska (worth 3 electoral college votes), North Carolina (15), and Georgia (16) yet to be declared at the time of writing.

President-elect Biden delivered a victory speech yesterday, but it is worth noting that President Trump has yet to concede, and has made accusations of voter fraud and an illegitimate election (claims which multiple news outlets, including the ABC, have labelled ‘baseless’ and ‘false’).

A great outcome for ASX shares?

In terms of the concurrent congressional elections, American voters have seemingly opted for more of the same. The ABC predicts that the Democratic Party is likely to retain control of the US House of Representatives, whilst the Republican Party is likely to retain control of the US Senate (pending the outcome of 2 run-off elections in the state of Georgia in January).

So what does a Biden presidency mean for ASX shares?

That’s something many commentators have had their two cents on last week. Sarah Turner from the Australian Financial Review (AFR) reports that Biden’s win could “clear the way for more gains for markets”, quoting AMP Limited (ASX: AMP)‘s chief economist Shane Oliver on the outcome:

Wall Street has done best under Democrat presidents, with an average return of 14.6 per cent per annum since 1927, compared with an average return under Republican presidents of 9.8 per cent per annum… However, the best average result has actually occurred when there has been a Democrat president and Republican control of the House, the Senate or both. This has seen an average return of 16.4 per cent per annum.

On the latter, that’s exactly the scenario that American voters look set to deliver.

Additionally, as we reported a few days ago, top ASX fund manager Hamish Douglass of Magellan Financial Group Ltd (ASX: MFG) is also extremely bullish on this election outcome. He described a Democrat in the White House, together with a divided Congress, as a ‘nirvana’ outcome for investors, noting that under this scenario major US tax reform and increased financial regulation will be unlikely.

So how did the ASX take to the gradual emergence of a new Biden presidency last week?

How did the markets end the week?

The S&P/ASX 200 Index (ASX: XJO) had one of its best weeks of the past few months on the back of the election result. The ASX 200 started on Monday at 5,927.6 points and finished up at 6,190.2 points, putting the week’s gains for the ASX 200 at a hefty 4.4%.

Monday saw the ASX 200 add a small gain of 0.4%. Tuesday then brought a very hefty 1.9% rise in the lead up to the election. Wednesday was the day that results from the election began to trickle through, and amidst all the uncertainty, the ASX dropped 0.1%. Then Thursday brought another massive gain of 1.3% as the market began to warm to the prospects of a Biden win. Friday backed this up with another 0.82% gain, cementing the 4.4% gain for the week.

Meanwhile, the All Ordinaries Index (ASX: XAO) also had a stunning week, starting out on Monday at 6,113.2 points and finishing up on Friday at 6,395 points for a 4.61% gain over the week.

Which ASX 200 shares were the biggest winners and losers?

Every week we look at the ASX shares that have topped and bottomed the charts the previous week. So to start, here are the worst performing ASX 200 shares from last week’s trading:

Worst ASX 200 losers	% loss for the week
Pendal Group Ltd (ASX: PDL)	(8%)
Fortescue Metals Group Limited (ASX: FMG)	(4.7%)
Treasury Wine Estates Ltd (ASX: TWE)	(4.6%)
Unibail-Rodamco-Westfield (ASX: URW)	(4.6%)

Asset manager Pendal was the ASX share taking out the wooden spoon last week. Investors seemed to be hitting the sell button after Pendal released its full-year results for the 2020 financial year. This included a reported 4% drop in assets under management for the company, as well as an 11% decline in earnings per share (EPS).

Next up was iron or miner Fortescue. As an iron miner, Fortescue is often bought and sold on the movements of the iron price. And last week, the iron ore price slumped 2.7%. We can probably put Fortescue’s share price movements over the week to that catalyst.

Treasury Wine was also in investors’ bad books with a 4.6% decline. This can probably be attributed to the company holding its annual general meeting last week. Treasury is in the middle of a diplomatic spat of sorts between Australia and China right now, which has resulted in China levying import duties on Australian wine. Treasury’s management made some comments during the meeting that didn’t exactly point to a thawing relationship in this arena.

Finally, Unibail-Rodamco-Westfield was also giving investors grief. The shopping centre operator’s fall was probably linked to the company issuing a warning that European COVID restrictions would “negatively impact operations going forward”.

Let’s now turn to last week’s winners:

Best ASX 200 gainers	% gain for the week
Tabcorp Holdings Limited (ASX: TAH)	24.6%
Flight Centre Travel Group Ltd (ASX: FLT)	24.4%
News Corporation (ASX: NWS)	19.2%
Eagers Automotive Ltd (ASX: APE)	16.5%

Last week’s winner was gambling hub Tabcorp. Tabcorp shares surged on Friday, apparently due to speculation that the company is in the sights of a private equity-fuelled takeover bid. Tabcorp has told the markets that it is yet unaware of any such deal in the making.

Flight Centre was another ASX 200 share making moves last week. This time, it appears that the gains are coming from Flight Centre’s annual general meeting last week, in which it told investors that bookings and corporate travel are moving in the right direction for the company.

Rupert Murdoch’s News Corporation was also feeling the love with a near-20% gain over the week. We can probably put this move down to the company’s release of a quarterly update, which saw its Dow Jones division post a record profit.

Finally, car dealership company Eagers was driven higher by investors after the company outlined expansion plans in Western Australia and New South Wales.

What does this week look like for the ASX 200?

If the opinions of the commentators discussed above are anything to go by, we could be seeing a great week in the making for ASX shares. But we shall have to wait and see if this eventuates of course. Until then, here is a look at the major ASX 200 blue chip shares as we start another week:

And finally, here is the lay of the land for some leading market indicators:

• S&P/ASX 200 (XJO) at 6,190.20 points.
• All Ordinaries (XAO) at 6,395 points.
• Dow Jones Industrial Average at 28,323.4 points after falling 0.24% on Friday night (our time).
• Gold (Spot) swapping hands for US$1,951.45 per troy ounce.
• Iron ore asking US$117.52 per tonne.
• Crude oil (Brent) trading at US$39.45 per barrel.
• Crude oil (WTI) going for US$37.14 per barrel.
• Australian dollar buying 72.58 US cents.
• 10-year Australian Government bonds yielding 0.75% per annum.

That’s all folks, see you next week!

More reading

• Here’s how the big four banks performed in FY 2020
• 2 ASX healthcare shares to buy today
• These are the 10 most shorted shares on the ASX
• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week

Sebastian Bowen owns shares of National Australia Bank Limited, Newcrest Mining Limited, and Telstra Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited, Telstra Limited, and Treasury Wine Estates Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Transurban Group, Wesfarmers Limited, and Woolworths Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Last week saw the release of the National Australia Bank Ltd (ASX: NAB) full year result.

This was the last result from an incredibly eventful FY 2020 for the big four banks.

Here’s a summary of how they all performed during the last financial year:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

In FY 2020 ANZ reported a 40% decline in statutory profit after tax to $3.58 billion and a 42% reduction in cash earnings from continuing operations to $3.76 billion. This decline was driven primarily by full year credit impairment charges of $2.74 billion, which increased almost $2 billion year on year. These were largely due to the impact of COVID-19 and a first half impairment of Asian associates of $815 million, also related to the pandemic.

At the end of the period ANZ’s Common Equity Tier 1 (CET1) ratio remained strong at 11.3% and its net interest margin softened to 1.63%.

Commonwealth Bank of Australia (ASX: CBA)

For the 12 months ended 30 June 2020, Commonwealth Bank reported a 0.8% increase in operating income to $23,758 million. This was driven by volume growth in home lending and deposits, which offset a 2-basis point decline in its net interest margin to 2.07%. The bank’s statutory net profit after tax including discontinued operations was $9,634 million, up 12.4% on FY 2019. However, this statutory result includes significant gains on the sale of businesses. Whereas the company’s cash net profit after tax from continuing operations was down 11.3% to $7,296 million. This was driven largely by higher COVID-19 loan impairment expense.

At the end of June, Commonwealth Bank’s CET1 ratio stood at 11.6%.

National Australia Bank

For the 12 months ended 30 September, NAB reported a 36.6% decline in cash earnings to $3,710 million. This was driven partly by a number of notable items. If you were to exclude these items, the bank’s cash earnings would have been down 25.9% to $4,733 million in FY 2020.

NAB reported a 1 basis point reduction in its net interest margin (NIM) to 1.77% for the year due to its Markets & Treasury businesses, which felt the impact of holding higher liquid assets. Excluding this, its net interest margin was flat, with the benefits of home loan repricing and lower wholesale funding costs offset by impacts of the low interest rate environment and competitive pressures.

At the end of the financial year, NAB’s CET1 ratio was 11.47%, up 109 basis points year on year.

Westpac Banking Corp (ASX: WBC)

In FY 2020, Westpac posted a 66% decline in statutory net profit to $2,290 million and a 62% reduction in cash earnings to $2,608 million. Once again, this was driven by notable items. Excluding them, its cash earnings would have dropped 34% to $5,227 million.

At the end of the financial year, Westpac’s net interest margin was down 4 basis points to 2.08% and its CET1 ratio stood at 11.13%.

More reading

• 5 things to watch on the ASX 200 on Monday
• Top brokers name 3 ASX shares to buy next week
• Is the NAB (ASX:NAB) share price a buy for dividends?
• Here’s how much NAB (ASX:NAB)’s new dividend is worth
• Big 4 banks’ own customers don’t trust them

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Some small cap ASX shares have large dividends, it’s not just the large ASX shares that have large dividends.

The definition of a small cap can vary between investors. The three small cap ASX shares in this article have a market capitalisation of under $500 million and a dividend yield of more than 6%:

Pacific Current Group Ltd (ASX: PAC)

Pacific describes itself as a multi-boutique asset management firm. It says that it applies its strategic resources, including capital, institutional distribution capabilities and operational expertise to help its investments in asset managers. At the end of September 2020 it had investments in 15 asset managers globally.

The company reported that in the three months to 30 September 2020 it increased its funds under management (FUM) by 14% to $106.4 billion. Management said that the quarter was quiet in terms of flows, although there were notable inflows for GQG and Roc. In native currencies, US dollar orientated fund managers saw FUM increase by 19.3%.

In the FY21 first quarter announcement, Pacific Current CEO Paul Greenwood said: “COVID-19 has certainly been disruptive to institutional fundraising and investor demand. Thankfully the environment appears to be steadily improving, though we are still a long way from pre-pandemic levels of activity. The vast majority of FUM growth during the period came from GQG, which continues to grow exceptionally rapidly.”

In FY20, Pacific Current grew its dividend by 40% to $0.35 per share. At the current Pacific Current share price, that amounts to a grossed-up dividend yield of 8.3%.

Duxton Water Ltd (ASX: D2O)

Duxton Water is a unique company on the ASX, it purely owns water entitlements and leases them to farmers. It can enter into both short-term and longer-term contracts with those agricultural businesses.

Shareholders are exposed both to the lease income of the water as well as the capital growth of the value of the water entitlements.

Duxton Water’s board has been steadily growing its dividend over the past few years. The small cap ASX share has also provided guidance of consistent dividend progression from the latest payment of 2.9 cents per share all the way to a final FY21 dividend of 3.2 cents and an interim dividend for FY22 of 3.3 cents per share.

Based on those two projected payments, that amounts to a grossed-up dividend yield of 6.7%.

Vitalharvest Freehold Trust (ASX: VTH)

Vitalharvest is an agricultural real estate investment trust (REIT) which owns some of the largest berry and citrus farms in Australia.

It receives two forms of rent from its major tenant, Costa Group Holdings Ltd (ASX: CGC). It receives a fixed rent as well as variable rent in the form of a profit share from those farms.

The variable rent has been impacted recently by a number of issues including crumbly berries, fruit flies and drought. Management believe all of these issues have been addressed.

In FY20 its funds from operations (FFO) – its net rental profit – fell 16.2%. The small cap ASX share paid a distribution of 4.75 cents per share, which amounts to a distribution yield of 6.1%.

Vitalharvest has a new manager with Primewest Group Ltd (ASX: PWG) taking over management. Primewest is going to look for agricultural properties that provide more consistent rent like food processing and food storage properties.

Primewest believes that the agricultural sector will outperform other real estate classes in the current environment.

The director of Primewest Agrichain Management, David Schwartz, said: “Continued demand from export markets for quality agricultural products will drive future performance. Improvement in climactic conditions may have a positive influence on production, also increasing maturity of the citrus planted area should support a natural increase in yields over the period.”

More reading

• Leading brokers name 3 ASX shares to buy today
• 2 great value ASX shares I’d buy in a heartbeat
• 3 ASX dividend shares to buy with yields over 7.5%
• Extreme levels of demand AND future growth prospects. Are you invested in these niche ASX shares?
• 2 high yield ASX dividend shares for income investors to buy today

Motley Fool contributor Tristan Harrison owns shares of DUXTON FPO. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia has recommended DUXTON FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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One area of the share market that has been performing very positively over the last decade has been the healthcare sector.

Since this time in 2010, the S&P/ASX 200 Health Care index has generated a return of 432% for investors.

This has been driven by increased demand, better technologies and treatments, and ageing populations.

Given how these tailwinds are likely to remain for the long term, it isn’t a surprise to see that healthcare shares are popular with ASX investors today.

But which healthcare shares should you buy? Here are two highly rated options:

Cochlear Limited (ASX: COH)

When it comes to shifting demographics, and particularly in respect to the growing number of over 65s, there are few companies that stand to benefit as much as Cochlear. It is the global developer, manufacturer, and distributor of cochlear implantable devices for the hearing impaired.

Late last month analysts at Macquarie put an outperform rating and $241.00 price target on Cochlear’s shares. They have been pleased with both its market share gains and the positive opinion of its products by audiologists. This bodes well for its recovery from the pandemic and future growth.

CSL Limited (ASX: CSL)

CSL is one of the world’s leading biotherapeutics companies. It has been a consistently strong performer over the last decade thanks to acquisitions, its research and development activities, growing plasma collection network, and its leading therapies. The latter includes therapies such as Privigen, Hizentra, Idelvion, and Afstyla.

One broker that is confident that this strong form can continue is UBS. Last week the investment bank retained its buy rating and $346.00 price target on the company’s shares. While it notes that plasma collection conditions are tough in some markets because of COVID-19, it remains positive on its outlook. Especially given how it has a range of options to mitigate this headwind.

More reading

• Top brokers name 3 ASX shares to buy today
• ASX 200 Weekly Wrap: ASX 200 has another shocker as US election approaches
• Top ASX shares to buy in November 2020
• 4 outstanding ASX 200 shares to buy with $4,000
• Where to invest $100,000 into ASX shares in November

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 Cochlear Ltd. and CSL Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Every Monday I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Webjet Limited (ASX: WEB) has seen its short interest rise to 15.9%, making the online travel agent the most shorted ASX shares by some distance. This high level of short interest appears to be due to COVID-19 and valuation concerns.
• Myer Holdings Ltd (ASX: MYR) has seen its short interest rise again to 9.8%. Short sellers seem to be expecting another tough year for the department store operator this year. This follows a statutory loss of $172.4 million in FY 2020.
• InvoCare Limited (ASX: IVC) has short interest of 9.6%, which is down slightly week on week once again. This funerals company’s performance has been impacted greatly this year because of COVID-related restrictions.
• Speedcast International Ltd (ASX: SDA) has short interest of 9.4%. This communications satellite technology provider’s shares have been suspended since February whilst it undertakes a recapitalisation. Last week it announced the sale of its Speedcast Managed Services business to the NBN.
• Inghams Group Ltd (ASX: ING) has 8.8% of its shares held short, which is up slightly week on week. Short sellers may regret this one. Last week the poultry company’s shares surged higher after revealing an improvement in its performance.
• Mesoblast Limited (ASX: MSB) has seen its short interest slide to 8.8%. Short sellers may be locking in their gains ahead of the company’s upcoming meeting with the FDA. This is in response to the regulator not approving its remestemcel-L product last month.
• Western Areas Ltd (ASX: WSA) has entered the top 10 with short interest of 8.7%. The nickel producer’s shares have come under pressure recently due to production issues at its Flying Fox operation.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest rise slightly to 8.2%. Short sellers appear to believe that rising COVID-19 cases globally could weigh on the travel sector for longer than expected.
• Galaxy Resources Limited (ASX: GXY) has seen its short interest rebound to 8.1%. This appears to have been driven by concerns over an oversupply of lithium and subdued demand.
• Whitehaven Coal Ltd (ASX: WHC) is another new entry in the top 10 with short interest of 7.7%. Traders have been shorting this coal miner amid reports that China is banning purchases of Australian coal.

More reading

• These were the best performing ASX 200 shares last week
• Follow the money: Executive moves in ASX shares
• ASX 200 shoots 1.3% higher on Thursday
• Why Flight Centre, Goodman, Inghams, & Scentre shares are charging higher
• The Flight Centre (ASX:FLT) share price is soaring after AGM

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and InvoCare Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) is a highly-regarded ASX dividend share.

This business is commonly called Soul Patts – the full name is a bit of a mouthful. Soul Patts is an ASX dividend share that’s rated as a buy by the Motley Fool Dividend Investor service. Indeed, it has been rated as a buy for years.

An overview of Soul Patts

Soul Patts is an investment conglomerate. That wasn’t always the case – it first listed in 1903 as a pharmacy business – that’s where the Soul Pattinson chemist chain name comes from.

However, it has evolved into a diversified investment house with a variety of different listed and unlisted holdings.

It made investments into TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW) and New Hope Corporation Limited (ASX: NHC) when they were much smaller businesses. Now those holdings are three of the biggest Soul Patts investments.

Soul Patts owns stakes in other listed businesses like Palla Pharma Ltd (ASX: PAL), Clover Corporation Limited (ASX: CLV), Australian Pharmaceutical Industries Ltd (ASX: API) and Magellan Financial Group Ltd (ASX: MFG).  

The investment house also has the flexibility to invest in unlisted private businesses. It has investments in things like resources, swimming schools, financial services, agriculture and a business called Ampcontrol.

The ASX dividend share aims to invest in businesses for the long-term, sometimes with a contrarian investment style.

More than 40 employees have worked for the company for over 50 years. Five generations of the Pattinson family have served the company, as have three generations of the Dixson, Spence, Rowe and Letters families.

How does Soul Patts fund its dividends?

Soul Patts receives investment income as its listed holdings pay dividends to it, and its unlisted holdings pass on profit up to it as well. Soul Patts receives interest as well.

The investment house then pays its dividend to shareholders from some of that cashflow, after paying for its operating expenses.

In FY20 Soul Patts said that its net cash flow from investments went up by 48.8% to $252.3 million, mostly thanks to a large special dividend from TPG. Its FY20 dividend amounted to a dividend payout ratio of 56.93% of those net cashflows from its investments. The rest of the profit can be re-invested into other opportunities. 

Dividend record

Soul Patts has actually increased every year since 2000, including through COVID-19, which is the longest consecutive dividend growth record on the ASX. The investment conglomerate claims it has actually paid a dividend every year since it listed in 1903, including through world wars, the great depression, the Spanish Flu and various recessions over the decades.

Dividend outlook

Two of Soul Patts’ key leadership provided some helpful quotes about the outlook and the future dividend.

Managing director Todd Barlow said: “The outlook for the domestic and global economy remains uncertain and volatile. One of WHSP’s key advantages is a flexible mandate to make long-term investment decisions and adjust the portfolio by changing the mix of investment classes over time. While the economic outlook is uncertain, we can be certain there will be some dislocation in a number of asset classes. With dislocation comes opportunity and WHSP is well positioned with adequate liquidity to take advantage of the right investment opportunities.”

WHSP chair Robert Millner said: “Our aim is to pay a stable and growing dividend year on year. During the GFC many companies cut their dividends while WHSP was able to increase dividends and we are seeing the same thing occur this year as a result of our diversified portfolio and long-term investment decisions…We are proud of the fact that WHSP has not missed paying a dividend since it listed in 1903.”

More reading

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• 3 ASX blue chip shares to buy for dividends
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• This market dip is the perfect time to buy these 2 forever shares
• Why market crashes are useful for buying ASX dividend shares

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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There are some high-performing ASX tech shares out there that have been identified as buys.

Motley Fool Pro still believe each of these ASX tech shares could be worth buying:

Xero Limited (ASX: XRO)

Xero is a cloud accounting software business with headquarters in New Zealand. It is now a multinational company with market-leading positions in Australia and New Zealand. Its market share in the UK is also rapidly growing as it adds more subscribers which pay a monthly fee to Xero.

The Xero share price has gone up 48% in 2020 so far.

The ASX tech share revealed continuing growth in its FY20 result. Total subscribers increased 26% to 2.285 million. Operating revenue went up 30% to NZ$718 million and earnings before interest, tax, depreciation and amortisation (EBITDA) – excluding impairments – rose 52% to NZ$139.2 million. In the UK, subscribers grew by 32% to 613,000 with revenue growing by 54%. Xero increased its free cash flow generation by 320% to NZ$27.1 million.

One of the main things that the Pro team was pleased about the FY20 result was that North American subscribers grew by 24% to 241,000.

It’s still rated as a buy by the Motley Fool Pro service. The Pro team said the FY20 result demonstrated the runway Xero still has and they like how it’s moving to become a platform service, though Xero’s SME customer base may be impacted because of COVID-19 effects. However, this may be offset by potential customers realising the benefits of cloud products.

Altium Limited (ASX: ALU)

Altium is an electronic PCB design software business. It has various software offerings, such as Altium Designer, some of which is targeted at small engineer outfits and other software is designed for large multinational teams.

On Altium’s ‘about’ page, it tells investors a number of things. Altium says it has a strong track record in engineering development and engineering excellence, it has global diversified earnings (comprised of 48% Americas, 32% Europe, 14% Emerging Markets and 7% Asia Pacific), it’s committed to being the market leader and it’s well positioned for future growth because at the heart of intelligent systems are electronics and PCBs.

In terms of the balance sheet, Altium says it’s committed to growing the dividend each year and it’s debt free.

The ASX tech share is focused on growing its cloud offering to subscribers called Altium 365. Indeed, the company recently made an announcement saying that it was pivoting its organisational structure towards the cloud.

Altium’s growth has been stunted by COVID-19 impacts, however Pro still rate the business as a buy for long-term growth-focused investors and believes it still has a good growth runway ahead.

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is an ASX tech share that facilitates digital donations, particularly for the US large and medium church sector.

It has a long-term goal of reaching US$1 billion revenue from the US faith sector. The current COVID-19 conditions have seen an acceleration in the adoption of Pushpay’s technology. Pushpay management believe that its new offering called ChurchStaq – which is the combined offering of Pushpay and Church Community Builder – is proving very popular with users.

In the recent FY21 half-year result, Pushpay revealed that its total processing volume went up by 48% to US$3.2 billion. This helped Pushpay’s operating revenue grow by 53% to US$85.6 million and it pushed the earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) higher by 177% to US$26.7 million.  

Pushpay management were keen to point out the scalability of the business with its improving profit margins. The gross margin expanded from 65% to 68% whilst the EBITDAF margin surged from 17% at 30 September 2019 to 31% at 30 September 2020.

The Pro team still rates Pushpay a buy. The Pushpay share price has gone up 105% in 2020.

More reading

• 3 ASX shares targeting huge growth in the 2020s
• Why ASX 200 technology shares are again racing higher
• Top brokers name 3 ASX shares to buy today
• Why the Pushpay (ASX:PPH) share price could be a growth opportunity
• ASX 200 ends mixed on Wednesday

Tristan Harrison owns shares of Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX and Xero. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Last week the Reserve Bank of Australia met to discuss the cash rate and opted to cut it down to a record low of 0.1%.

This was another blow for income investors, who will have to contend with even lower rates in 2021.

But never fear, the Australian share market is home to countless dividend shares that offer better yields than term deposits and savings accounts.

Two that do exactly this are listed below:

Bravura Solutions Ltd (ASX: BVS)

Bravura Solutions is a leading provider of software products and services to the wealth management and funds administration industries. The key product in its portfolio is the Sonata wealth management platform. It allows users to connect and engage with their clients anytime, anywhere, through computers, tablets or smartphones. Demand for Sonata has been growing in recent years and has been underpinning the company’s growth. But Bravura certainly isn’t a one-trick pony and has a number of other products supporting its growth. This includes the Rufus transfer agency solution, the Midwinter financial planning solution, and the recently acquired Delta Financial Systems.

And while management has warned that its earnings could be flat this year because of the pandemic, it remains positive on its long term prospects due to its portfolio. It commented that Bravura is positioned for “long-term growth driven by market demands for microservices ecosystems, digital solutions and automation.”

In FY 2020, the company paid investors an 11 cents per share unfranked dividend. Based on the current Bravura share price, this equates to a 3.75% dividend yield.

Dicker Data Ltd (ASX: DDR)

Dicker Data is a leading distributor of computer hardware and software across the ANZ region. It has been growing both its earnings and dividend at a quick rate over the last few years thanks to growing vendor agreements and increasing demand. Pleasingly, this has continued in 2020 despite the pandemic. For example, last month Dicker Data released its third quarter update and revealed year to date profit before tax growth of 28.3% to $60.8 million.

With its update, management spoke positively about its outlook. It notes that demand is strong, quoting activity is high, and 5G and artificial intelligence are huge opportunities for the company in the medium term.

In the meantime, Dicker Data is planning to pay a 35.5 cents per share fully franked dividend this year. Based on the latest Dicker Data share price, this equates to a 3.4% dividend yield.

More reading

• 2 ASX dividend shares with better yields than term deposits
• These were the 3 best-performing ASX 200 tech shares in October
• Buying these ASX dividend shares could solve your income needs
• 3 of the best mid cap ASX shares to buy right now
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Dicker Data Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Friday the S&P/ASX 200 Index (ASX: XJO) was on form and finished a stunning week with a solid gain. The benchmark index rose 0.8% to 6,190.2 points.

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

ASX 200 expected to rise.

The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.25% higher this morning. This is despite a mixed end to the week on Wall Street, which saw the Dow Jones fall 0.25%, the S&P 500 trade flat, and the Nasdaq edge ever so slightly higher. Despite the soft finish, the S&P 500 had its best week since April.

Biden wins the U.S. election.

Although Donald Trump has refused to concede the election and legal challenges are likely, Joe Biden has taken an unassailable lead in the race to the White House. In light of this, most major media outlets have declared Biden the winner and the new President-elect. Investors may now begin to construct their portfolios around his policies.

Oil prices sink lower.

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a tough start to the week after oil prices sank lower. According to Bloomberg, the WTI crude oil price fell 4.3% to US$37.14 a barrel and the Brent crude oil price dropped 3.6% to US$39.45 a barrel. Rising COVID-19 cases sparked demand fears.

Gold price pushes higher.

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) will be on watch on Monday after the gold price pushed higher on Friday night. According to CNBC, the spot gold price climbed 0.25% to US$1,951.70 an ounce. This means the precious metal had its best week since July. This was driven by US dollar weakness and hopes for a larger coronavirus relief bill thanks to Joe Biden’s victory.

ANZ goes ex-dividend.

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price could trade lower today when it goes ex-dividend for its final dividend. The banking giant will then be paying its fully franked 35 cents per share dividend to eligible shareholders in around five weeks on 16 December.

More reading

• Here’s what a Joe Biden victory would mean for ASX shares
• The ASX 200 shares rocketing on takeovers, upgrades and low interest rates
• Here’s how much NAB (ASX:NAB)’s new dividend is worth
• Big 4 banks’ own customers don’t trust them
• 5 things to watch on the ASX 200 on Friday

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It may not be the biggest tech sector in the world, but the ANZ region’s tech sector is home to a good number of companies with significant potential.

Three small cap ASX tech shares that have been growing strongly this year are listed below.

Here’s what you need to know about them:

Damstra Holdings Ltd (ASX: DTC)

Damstra is a growing integrated workplace management solutions provider. The company’s cloud-based workplace management platform is used by businesses globally to track, manage, and protect their workers and assets. Demand for its offering has been growing strongly in recent years and this has continued in FY 2021. For example, in the first quarter, Damstra revealed record first quarter revenue, cash receipts, and operating cash flow. This impressed analysts at Morgan Stanley, who put an overweight and $2.00 price target on the company’s shares.

MyDeal.com.au Limited (ASX: MYD)

MyDeal.com.au is a recently listed online retail marketplace provider with a focus on furniture, homewares, appliances, technology, baby products, and hardware. It has been a positive performer in FY 2021, delivering first quarter gross sales growth of 317% to $56.67 million. Management advised that this was underpinned by the shift to online shopping and a 268% increase in active customers to 669,897. Looking ahead, the company intends to use the $40 million raised from its IPO to drive future growth. This includes growing its private label business, investing in its proprietary technology, and investing in advertising to grow its customer base and brand.

Whispir Ltd (ASX: WSP)

Finally, Whispir is a software-as-a-service communications workflow platform provider which allows businesses and governments to deliver two-way interactions at scale using automated multi-channel communication workflows. Its platform was used to great effect during the height of the pandemic when 22 government departments used it for COVID-19 communications. Management estimates that the Workflow Communications platform as a Service market could reach US$8 billion per year by 2024. This compares to the revenue of $39.1 million it recorded in FY 2020, which was up 25.5% year on year.

More reading

• 3 growing small cap ASX shares
• MyDeal.com.au (ASX:MYD) share price up 7% on trading update
• These 3 ASX shares to IPO recently are struggling
• Are these small cap ASX shares the next Kogan (ASX:KGN) and Nearmap (ASX:NEA)?
• 3 of the best mid cap ASX shares to buy right now

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 and recommends Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Damstra Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool Australia has recommended Whispir Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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