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Dividend Alerts, February 7th 2011
February 07, 2011

7 February 2011

  • Dividend Income Report - sample issue

  • Company statements

Dear Subscriber

There has been frentic activity overhere, the last 48 hours, in order to complete our very first issue of the Dividend Income report, which you can access by clicking on: Sample Issue.

As per our stated investment policy, mentioned in Issue 9 of Dividend Alerts we will not invest today, but will put in a purchase order tomorrow.

As always, we are very interested in your views, not only on the actual content of the Report but also its structure and format. Please leave your comments at our Feedback page.

We have also added a number of new pages at Dividend Income and work is progressing well with regards to the subscribers-only part of the website. Unfortunately, I suspect, its launch will take a bit longer. Hopefully by mid February.

Recent company statements

Several companies we have covered have released interesting statements, summaries of which are below, including from:

National Grid

National Grid published a management statement for the four months to 30 January 2011.

Although operating profit for the current financial year to 31 March 2011 will be significantly ahead of last year, earnings per share will be about the same. Cost savings have resulted from debt repurchases, aided by the proceeds of the rights issue.

Irrespective, still good news from our perspective as, National Grid has reconfirmed their previously announced policy of an 8% increase in the full year’s dividend.

Scottish & Southern Energy

Scottish & Southern Energy published a management statement for the nine months to 31 December 2010 stating that it remains on course to deliver the goals set out earlier. Including, that full year dividend to 31 March 2011 will be at least 74.5p with increases of RPI+2% for the next couple of years and “sustained real growth” thereafter.


Vodafne reported solid third-quarter sales on the back of strong performances by its UK, Indian and Turkish businesses. Analysts expects Vodafone's underlining profits for the year to March 31, 2011, to be close to £12.2 billion.

Vodafone also announced the appointment of Gerard Kleisterlee, outgoing CEO of Philips, as the next chairman of Vodafone. At Philips, over the years, mr Kleisterlee's focus was on slimming down Philips' unwieldy conglomerate, via disposals as well as by cost-cutting, and concentrating on sales growth in emerging markets. All good stuff, and very useful at Vodafone when the group ponders what to do next with several of its minority stakes and growing sales in emerging markets.


At Aviva's January 'investor' day', Aviva assured the market over the group's balance sheet strenght and ability to pay dividends.

The group also re-confirmed its focus on a lesser number of countries from 30 to 12 as it looks to redeploy resources into those markets where it already has significant activities producing higher returns.

Aviva also announced that it has cut its pension fund deficit by £1.3bn over the past year and intend to start with reducing its debt by repaying some £700m of subordinated bonds over the next three years.

Thank you for reading.

Watch out for the next announcement with regards to Dividend Income

Until next time.

Kind regards

Steven Dotsch
Early Retirement

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