Just as its associate, Brickworks (ASX:BKW), still lifted its final and full-year dividends for 2023-24 despite a significant loss for the year to July, its biggest shareholder, Washington H. Soul Pattinson, did the same, even though it reported weaker inflows from two major investments.
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Perpetual (ASX:PPT) has rejected Washington H. Soul Pattinson's (ASX:SOL) all-paper offer, which includes no cash.
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Shares in Washington H. Soul Pattinson (ASX:SOL, SoulPatts or WSHP) fell nearly 6% yesterday as investors hesitated over its full-year figures and those from its partially owned associate, Brickworks.
Read MoreInvestment company Soul Pattinson had a strong six months to the end of January, lifting profit 38%, and subsidiary Brickworks joined in the fun with a record half-year.
Read MoreAfter New Hope’s recent bonanza, a big rise in the earnings of major shareholders and associated companies Washington H Soul Pattinson and Brickworks was always on the cards.
Read MoreMorgans raises its rating for WH Soul Pattinson to Add from Hold given more than 10% upside for total shareholder returns to the new 12-month target of $30.60, reduced from $36.78.
Read MoreNot even a whopping $600 million plus statutory loss linked to the takeover of Milton Corporation last October could take the gloss off a strong earnings report from Soul Pattinson.
Read MoreMorgans raises its target price to $36.78 from $28.84 and maintains its Hold rating.
Read MoreThe market reacted favourably to strong earnings results from investment group Washington H. Soul Pattinson and its major shareholder Brickworks, pushing both companies’ shares higher on Thursday.
Read MoreShareholders of Milton Corporation will get a fully franked special dividend of 37 cents a share once the investment house’s proposed merger with Washington H. Soul Pattinson is finalised next week.
Read MoreInvestment group Washington H. Soul Pattinson upgraded its 2020-21 earnings guidance as it prepares to merge with another Sydney listed investor in Milton Investment Corp.
Read MoreWesfarmers’ surprise $687 million, $1.38 per share bid for Australian Pharmaceutical Industries (API) could very well re-ignite a brawl over the big retailers getting into the business.
Read MoreThe Hold rating and $28.84 target are unchanged while the analyst awaits the proposed vote on the merger in mid-September.
Read MoreSoul Pattinson is to buy fellow Sydney investor Milton Corporation via a scheme of arrangement merger – a move that will create a $10 billion investment group.
Read MoreShares in Sydney-based investment group Washington H Soul Pattinson hit a new all-time high yesterday despite reporting mixed results from its stable of companies in the latest half year.
Read MoreWhile coronavirus uncertainty has seen Brickworks join the long list of companies dropping guidance, the interim payout was boosted. Parent Soul Patts has also lifted its interim dividend by a cent to 25 cents a share, despite a 33% fall in NPAT.
Read MoreShares in Australia’s biggest brick maker Brickworks jumped more than 6% yesterday despite a weak full-year result. Meanwhile, the weak performance by Round Oak Minerals saw Washington H Soul Pattinson, Brickworks’ major shareholder report a 7% decline in earnings for the year to the end of July.
Read MoreA strong surge in the contribution from its property business allowed Brickworks Ltd, part of the Washington H Soul Pattinson Group of companies to report a solid improvement in interim net profit for the six months to January 31.
Read MoreBrickwork’s associate, Soul Pattinson has more than doubled full-year profit to an all time high thanks to strong performances from its investments in coal miner New Hope Corporation, Brickworks and telco TPG Telecom.
Read MoreBrickworks’s biggest shareholder, Washington H. Soul Pattinson (Soul Patts) also failed to reward shareholders other than a token rise in interim dividend yesterday, despite reported a surge in earnings for the six months to January 31.
Read MoreInvestment firm Washington H. Soul Pattinson (SOL) (a shareholder in Brickworks, TPG, New Hope, API and a host of other companies. Brickworks is Soul Patts biggest shareholder in turn) saw its profit surge by almost 80% due to a marked reduction in impairments for the full year.
Read MoreInvestment group Washington H Soul Pattinson (SOL) (the Milner family dominated company which controls Brickworks and other companies through a series of cross shareholdings) saw its full year profit drop more than a third due to impairments and non-regular items in some of its associates.
Read MoreA higher interim dividend for Washington H Soul Pattinson (SOL), the big shareholder in Brickworks (BKW) (and Brickworks is the big shareholder in Soul Patts) .
Read MoreWashington H Soul Pattinson (SOL), the other half of the linked duo with Brickworks, was hit by weakness in the resources sector in the year to the end of July.
Read MoreSoul Pattinson (SOL) also reported yesterday and revealed a net profit of $73.7 million for the six months to January 31, down slightly from $74.3 million in the same period a year earlier.
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