LONDON -- I'm looking at some of your favorite FTSE 100 companies and examining how each will deliver their dividends.
Today, I'm putting telecommunications giant�Vodafone�Group� (LSE: VOD ) (NASDAQ: VOD ) under the microscope.
Current dividend policy
Vodafone unveiled a new dividend policy when it announced its annual results this week:�"The Board ... going forward aims at least to maintain the ordinary dividend per share at current levels."
Vodafone's dividend for its financial year ended March 2013 is 10.19 pence a share. Therefore, investors can hope for a�minimum�of 10.19 pence a share (and�perhaps�more)�"going forward"�-- though how far forward the company doesn't tell us.
Past dividend policy
How well has Vodafone delivered on its dividend policy in the past? Let me begin by saying that the group is one of just a handful of FTSE 100 companies to have provided shareholders with an above-inflation dividend increase each and every year since the turn of the millennium.
Top 10 Financial Companies To Own In Right Now: Harleysville Savings Bank(HARL)
Harleysville Savings Financial Corporation operates as the holding company for Harleysville Savings Bank that provides various banking products and services primarily in southeastern Pennsylvania. The company accepts various deposit products that include passbook and club savings accounts, NOW and regular checking accounts, money market deposit accounts, retirement accounts, certificates of deposit, and jumbo certificates of deposit. Its loan portfolio comprises loans secured by first mortgages on single-family residential properties; loans on residential properties, including loans on multi-family residential properties, construction loans, and lot loans on such properties; commercial real estate and commercial business loans; home equity lines, including installment home equity loans and home equity lines of credit; and consumer loans, such as automobile loans, loans on savings accounts, and education loans. Harleysville also provides remote ATM locations, the Internet, and telephone banking services. It operates six full-service offices located in Montgomery County and one office located in Bucks County, Pennsylvania. The company was founded in 1915 and is headquartered in Harleysville, Pennsylvania.
Top 10 Financial Companies To Own In Right Now: Cousins Properties Inc (CUZ)
Cousins Properties Incorporated (Cousins) is a real estate investment trust (REIT). Cousins Real Estate Corporation and its subsidiaries (CERC) is wholly owned by the Company. CERC owns, develops, and manages its own real estate portfolio and performs certain real estate related services for other parties. The Company operates in five segments: Office, Retail, Land, CPS Third-Party Management and Leasing and Other. The Office and Retail segments show the results for that product type. The Land segment includes results of operations for certain land holdings and single-family residential communities that are sold as developed lots to homebuilders. Fee income and related expenses for the third party-owned properties which are managed or leased by the Company�� CPS subsidiary are included in the CPS Third Party Management and Leasing segment. The Company also owns interests in residential development projects, undeveloped land tracts held for investment, and manages properties for third party owners. In August 2012, the Company acquired 2100 Ross Avenue, an 844,000-square-foot, Class-A office building located in the Arts District submarket of Dallas, Texas. In April 2013, Cousins Properties Inc (Cousins) acquired 816 Congress.
As of December 31, 2011, the Company owned directly or through joint ventures 21 operating office properties totaling 7.8 million square feet. The Company developed most of the office properties it owns. During the year ended December 31, 2011, the Company�� activity in its office property portfolio was Execution of new or renewed existing leases consisting of approximately 1.0 million square feet, acquition of Promenade, a 775,000-square-foot office building in the midtown submarket of Atlanta, Georgia, and sale of one Georgia Center, a 376,000-square-foot office building in Atlanta, Georgia.
As of December 31, 2011, the Company owned directly or through joint ventures 17 operating retail centers totaling 4.8 million s! quare feet.
The Company developed most of the retail properties it owns. During 2011, the Company�� activities in its retail property portfolio included execution of new or renewed leases covering approximately 856,000 square feet; construction of Mahan Village, a 147,000 square foot shopping center, anchored by Publix and Academy Sports, in Tallahassee, Florida; construction of the first phase of Emory Point, a mixed-use project in Atlanta, Georgia, expected to consist of 443 apartment units and 80,000 square foot of retail space, in a joint venture with Gables Residential.
Third Party Management and Other Fee Income
As of December 31, 2011, the Company managed and/or leased 12.7 million square feet of office and retail properties for third party owners. In addition, the Company has contracts to provide development and construction management services for third party owners.
As of December 31, 2011, the Company owned directly or through joint ventures, 22 residential development projects and residential and commercial undeveloped land, the Company�� share of which was approximately 5,000 acres. During 2011, the Company sold the remaining five multi-family units available for sale at the 10 Terminus Place condominium project; sold the Jefferson Mill Business Park Building A industrial building in suburban Atlanta, Georgia; sold the King Mill Distribution Park Building 3 industrial building in suburban Atlanta, Georgia; sold the Lakeside Ranch Business Park Building 20 industrial building and related undeveloped land in Dallas, Texas; sold approximately 43 acres of land and sold 482 residential lots.
Best Stocks To Watch For 2014: Financial Institutions Inc.(FISI)
Financial Institutions, Inc. operates as the holding company for Five Star Bank that provides consumer and commercial banking, and financial services to individuals, municipalities, and businesses in central and western New York. Its deposit accounts consist of noninterest-bearing demand, interest-bearing demand, savings, money market, club, individual retirement, and other qualified plan accounts, as well as certificates of deposit. The company?s loan portfolio comprises commercial loans, commercial real estate loans, one-to-four family residential mortgages, consumer automobile loans, recreational vehicle loans, boat loans, home improvement loans, closed-end home equity loans, home equity lines of credit, collateralized and uncollateralized personal loans, deposit account collateralized loans, commercial and agricultural working capital and revolving lines of credit, commercial and agricultural mortgages, equipment loans, and crop and livestock loans. It operates throug h a network of approximately 51 offices and 70 ATMs in 14 contiguous counties of western and central New York. The company, through its other subsidiary, Five Star Investment Services, Inc., provides brokerage services. Financial Institutions, Inc. was founded in 1931 and is based in Warsaw, New York.
Top 10 Financial Companies To Own In Right Now: Plazacorp Retail Properties Ltd (PLZ.V)
Plazacorp Retail Properties, Ltd. acquires, develops, redevelops, and owns retail real estate properties in the Atlantic Provinces, Ontario, and Quebec in Canada. Its retail real estate properties include mall shopping centers, retail properties, and strip centers. As of December 31, 2007, the company holds interests in 87 properties totaling approximately 4.1 million square feet and additional lands held for development. Plazacorp was incorporated in 1999 and is headquartered in Fredericton, Canada.
Top 10 Financial Companies To Own In Right Now: Bk Sardegna Stk N(SARIn.MI)
Banco di Sardegna S.p.A. provides retail banking and financial services. The company offers consumer loans and financial leasing transactions, securities portfolio management, deposits and corporate finance instruments, foreign currency transactions, derivative contracts linked to interest rates, debt securities and foreign currency, and automated teller machine and credit card services. It also provides tax collection, service automation, and real estate services. The company is headquartered in Cagliari, Italy. Banco di Sardegna S.p.A. is a subsidiary of Banca Popolare dell'Emilia Romagna.
Top 10 Financial Companies To Own In Right Now: Jeffersonville Bancorp(JFBC)
Jeffersonville Bancorp operates as the holding company for The First National Bank of Jeffersonville, a national-chartered bank that provides a range of commercial banking services to individuals, businesses, and municipalities. The company accepts various types of deposit products, including demand deposit accounts, interest-bearing transaction accounts, savings accounts, money market accounts, certificates of deposit, and individual retirement accounts. It also offers residential real estate, commercial real estate, commercial business, consumer, and agricultural loans. The company serves customers in the Sullivan County, New York, as well as in some areas of adjacent counties in New York and Pennsylvania. As of December 31, 2010, it operated 11 branch offices in Bloomingburg, Eldred, Liberty, Loch Sheldrake, Monticello, Livingston Manor, Narrowsburg, Callicoon, Wurtsboro, White Lake, and Monticello. The company was founded in 1913 and is headquartered in Jeffersonville, New York.
Top 10 Financial Companies To Own In Right Now: SGOCO Group Ltd(SGOC)
SGOCO Group, Ltd. designs, manufactures, and distributes liquid crystal display (LCD) consumer products in the People?s Republic of China and internationally. Its products include LCD personal computer monitors, LCD televisions, light emitting diode back-light modules, and application-specific LCD systems. The company also provides custom manufacturing services for application-specific LCD monitors, such as rotating screens, CCTV monitors for security systems, billboard monitors for advertising and public notice systems, and touch screens for non-keyed entries. SGOCO Group, Ltd. sells its products under the SGOCO, Edge 10, POVIZON, and No. 10 brands through a network of independent retail outlets operating under the ?SGOCO Image? name. The company offers its products to industry clients, such as medical centers, educational institutions, government complexes, public emergency response systems, and corporate offices, as well as to retail customers. As of December 31, 201 0, it had 603 retail stores covering 14 provinces and municipalities in the People?s Republic of China. The company, formerly known as SGOCO Technology, Ltd., was founded in 2006 and is based in Beijing, China.
Top 10 Financial Companies To Own In Right Now: AMERISAFE Inc.(AMSF)
AMERISAFE, Inc., an insurance holding company, provides workers? compensation insurance focusing on small to mid-sized employers engaged in hazardous industries, primarily construction, trucking, agriculture, logging, oil and gas, maritime, and sawmills in the southeast United States. It also offers general liability insurance policies for its workers? compensation policyholders in the logging industry. The company?s workers? compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. AMERISAFE, Inc. sells its products and services through independent agencies, as well as through its insurance agency subsidiary, Amerisafe General Agency, Inc. The company was incorporated in 1985 and is based in DeRidder, Louisiana.
Top 10 Financial Companies To Own In Right Now: SWS Group Inc.(SWS)
SWS Group, Inc., a diversified financial services holding company, provides a range of investment and commercial banking, and related financial services to individual, corporate, and institutional investors, as well as broker/dealers, governmental entities, and financial intermediaries in the United States. It operates in four segments: Clearing, Retail, Institutional, and Banking. The Clearing segment provides clearing and execution services for general securities broker/dealers, bank affiliated firms, and firms specializing in high volume trading. The Retail segment offers retail securities products and services, such as equities, mutual funds, and fixed income products; insurance products; and managed accounts. The Institutional segment provides securities lending, investment banking and public finance, fixed income sales and trading, proprietary trading, and agency execution services to institutional customers. The Banking segment offers various banking products and se rvices, including certificates of deposit, money market accounts, interest-bearing demand accounts, savings accounts, federal home loan bank advances, federal funds purchased, and non interest-bearing demand accounts, as well as one to four family residential loans and construction loans, lot and land development loans, commercial real estate loans, multi family loans, commercial loans, and consumer loans. SWS Group, Inc. was founded in 1972 and is headquartered in Dallas, Texas.
Top 10 Financial Companies To Own In Right Now: STARWOOD PROPERTY TRUST INC.(STWD)
Starwood Property Trust, Inc., a real estate investment trust, primarily focuses on originating, investing in, financing, and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments. It also focuses to invest in commercial properties subject to net leases, residential mortgage loans, and residential mortgage-backed securities. SPT Management, LLC serves as the manager of Starwood Property Trust, Inc. The company qualifies as a real estate investment trust for federal income tax purposes and would not be subject to federal corporate income taxes, if it distributes at least 90% of its taxable income to its stockholders. Starwood Property Trust was founded in 2009 and is headquartered in Greenwich, Connecticut.