LONDON -- The FTSE 100
And with the half-year reporting season well under way, many companies are actually defying the wider economic gloom and are in fact raising their dividends. Today we take a look at three that have upped their payouts this week:
Current City forecasts suggest a year-end dividend yield of 4%, rising to 4.3% for December 2013, and given the firm's illustrious record, few will doubt those projections. The 492 pence shares are currently on a forward P/E for 2012 of 12, falling to 11 for next year.
Engineering in the dumps? Don't you believe it! Meggitt
Full-year forecasts suggest a modest yield of 3% based on the current price of 400 pence, but the payout should be very well covered by possible earnings. Furthermore, increasing the dividend by such a margin at the halfway stage suggests strong management confidence.
Current forecasts for Xstrata put the 904 pence shares on a prospective dividend yield of 3%, rising to 3.5% next year. And although earnings are expected to fall by a third this year, there's a rebound expected next year, to give a lowly 2013 P/E of just eight.
Finally, if you're in the market for FTSE shares with resilient dividends, look no further than "8 Income Plays Held By Britain's Super Investor."
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Alan Oscroft does not own any shares mentioned in this article. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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