LONDON -- The FTSE 100
But whatever the index of top U.K. shares is doing, individual companies are hitting new highs every day. Here are three poking holes in the clouds this week.
British Sky Broadcasting
Much of that was driven by July's strong annual results, which showed a 16% rise in operating profit and a 21% boost to earnings per share, from revenues that were 3% up on the previous year. The dividend was lifted by 9% to 25.4 pence per share. Current forecasts suggest a payout of 3.6% next year, with the shares on a forward price-to-earnings (P/E) ratio of about 13.5.
It all fits in with the start of a recovery in the retail sector, after a downturn that took the good down with the bad -- at their low point of 50 pence, Debenhams shares were horribly undervalued. And now, even after such a great performance this year, forecasts still suggest a decent dividend yield of 3.2% this year and 3.6% next, from shares on a P/E of around 10.
Support services and construction group Interserve
But what really pleased investors was the firm's announcement that it already has 1.1 billion pounds of work on its books for 2013, with a total future workload of 6.0 billion pounds lined up. Pre-results forecasts were indicating a full year dividend of 5.6%, rising to 5.8% next year, and things can surely only look better now.
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Alan 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.