Norman Hay shows the way - confirmed yield of over 6% should be of interest
AIM quoted Norman Hay (AIM:HNN) came out with a reassuring set of results for the year ending 31st December 2008 with pre-tax profits up to £2.4m (2007: £2.3m). However, of greater relevance was final dividend of 2p making the total for the full year 4p.
I acknowledge that the dividend is down on the 4.4p from 2007 but with a share price of 62.50p (up 5% on the day) it still represents a confirmed yield of over 6%, comfortably covered.
The results were boosted by foreign exchange gains and the sale of a freehold site.
The Balance Sheet looks in reasonably good shape with net assets of £11.8m and net gearing of only approx 13% (2207:12%). Stripping out intangibles of…
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