Big dividends | Upgrades | Director buying
News covered here includes encouraging results from a small company in the financial services sector which is benefiting from higher interest rates, supporting its large dividend payout. Elsewhere, the UK’s largest pawnbroker also looks well-placed to benefit from the more challenging economic climate, although you wouldn’t believe it from the lowly valuation. A recent share purchase by the Chairman of AIM’s largest company should also encourage shareholders. (Free to read)
As expected, Shoe Zone gets another upgradeValue shoe retailer Shoe Zone (AIM:SHOE) confirmed that trading has “significantly exceeded management expectations” due to continued strong demand, with volumes up double digit on last year. Alongside exceptional trading, the Company has also experienced margin improvements due to the lower container rates and favourable foreign exchange rates with management expecting these improved margins to continue for the rest of the financial year. As a result, the Company now expects adjusted profit before tax for the financial year ending 2 October 2023 to be not less than £13.5m. Not surprisingly, the house broker has…