Week in Review 29/14

Welcome and thanks for reading! In this review, I will gather together important and interesting news and events over the last week related to my portfolio holdings. In my week review, I put also together some interesting articles from other websites that caught my attention during the past week.

Dividends from My Portfolio Holdings:

• On July 14 I received a dividend of € 43.46 from Philip Morris International Inc.
• On July 16 I received a dividend of € 14.93 from American Realty Capital Properties, Inc. 

Dividend income reported after the deduction of taxes. I have also updated my Monthly Dividend sheet.

News from My Portfolio Holdings:

Gjensidige: July 15, 2014, Interim report January 1 – June 30, 2014 (More here)

April 1 – June 30, 2014

• Profit before tax expense: NOK 1,747.9 million (1,076.9)
• Profit per share: NOK 2.61 (1.78)
• Earned premiums: NOK 5,061.5 million (4,646.6)
• Underwriting result: NOK 951.0 million (448.5)
• Combined ratio: 81.2 (90.3)
• Cost ratio: 14.9 (15.3)
• Financial result: NOK 744.6 million (604.6)

January 1 – June 30, 2014

• Profit before tax expense: NOK 2,903.9 million (1,617.6)
• Profit per share: 4.46 (2.42)
• Earned premiums: NOK 9,968.8 million (9,103.7)
• Underwriting result: NOK 1,300.1 million (791.4)
• Combined ratio: 87.0 (91.3)
• Cost ratio: 15.1 (15.5)
• Financial result: 1,507.0 (777.5)    

Intel Corporation: July 15, 2014, Interim Report Second Quarter 2014 (More here)

April 1 – June 30, 2014

• Revenue $13.8 B (12.8)
• Operating Income $3.8 B (2.7)
• Net Income $2.8 B (2.0)
• EPS $0.55 (0.39)

Tele2 AB: July 16, 2014, Interim Report Second Quarter 2014 (More here)

April 1 – June 30, 2014

• Net sales SEK 6,343 M (6,424)
• EBITDA SEK 1,466 M (1,474)
• EBIT SEK 787 M (772)
• Net profit SEK 818 M (369)
• Earnings per share, after dilution SEK 1.83 (0.82)

January 1 – June 30, 2014

• Net sales SEK 12,496 M (12,672)
• EBITDA SEK 2,825 M (3,003)
• EBIT SEK 1,744 M (1,508)
• Net profit SEK 1,401 M (809)
• Earnings per share, after dilution SEK 3.13 (1.81)

Pfizer Inc. July 16, 2014, Pfizer to Acquire InnoPharma, Inc. 

• Under the terms of the agreement, Pfizer will acquire InnoPharma for an upfront cash payment of $225 million, with up to $135 million of contingent milestone payments. (More here)

Kinder Morgan, Inc. July 16, 2014, Interim Report Second Quarter 2014 (More here)

April 1 – June 30, 2014

• Revenue  $ 3,937 M (3,382)
• Operating Income $ 1,013 M (772)
• Net Income Attributable to KMI $ 287 M (277)
• Total Basic and Diluted EPS $0.27 (0.27)
• Declared dividend per common share $ 0.43 (0.40)

January 1 – June 30, 2014

• Revenue  $ 7,984 M (6,442)
• Operating Income $ 2,160 M (1,789)
• Net Income Attributable to KMI $ 571 M (569)
• Total Basic and Diluted EPS $0.55 (0.55)
• Declared dividend per common share $ 0.85 (0.78)

 

KMI’s board of directors increased the quarterly cash dividend to $0.43 per share ($1.72 annualized) payable on Aug. 15, 2014, to shareholders of record as of July 31, 2014. This represents an 8 percent increase over the second quarter 2013 cash dividend per share of $0.40 ($1.60 annualized), and is up from the first quarter 2014 dividend of $0.42 per share ($1.68 annualized).

 

TeliaSonera: July 17, 2014, Interim report January 1 – June 30, 2014 (More here)

April 1 – June 30, 2014

• Net sales SEK 25,017 M (25,312)
• EBITDA SEK 8,836 M (8,928)
• Net income SEK 3,942 M (4,438)
• Earnings per share SEK 0.82 (0.93)

January 1 – June 30, 2014 

• Net sales SEK 48,990 M (49,894)
• EBITDA SEK 17,181 M (17,437)
• Net income SEK 8,295 M (8,937)
• Earnings per share SEK 1.73 (1.88)

Philip Morris International Inc: July 17, 2014, Interim Report Second Quarter 2014 (More here)

April 1 – June 30, 2014

• Reported diluted earnings per share of $1.17, down by $0.13 or 10.0% versus $1.30 in 2013
• Adjusted diluted earnings per share of $1.41, up by $0.11 or 8.5% versus $1.30 in 2013
• Cigarette shipment volume of 222.8 billion units, down by 2.7%
• Reported operating companies income of $3.0 billion, down by 13.1%
• Adjusted operating companies income, reflecting the items detailed in the attached Schedule 11, of $3.5 billion, up by 1.1%
• Reported operating income of $2.9 billion, down by 13.9%
• Repurchased 11.6 million shares of the company's common stock for $1.0 billion

January 1 – June 30, 2014

• Reported diluted earnings per share of $2.35, down by $0.23 or 8.9% versus $2.58 in 2013
• Adjusted diluted earnings per share of $2.60, up by $0.01 or 0.4% versus $2.59 in 2013
• Cigarette shipment volume of 418.8 billion units, down by 3.5%
• Reported net revenues, excluding excise taxes, of $14.7 billion, down by 5.1%
• Reported operating companies income of $6.0 billion, down by 13.0%
• Adjusted operating companies income, reflecting the items detailed in the attached Schedule15, of $6.5 billion, down by 5.7%
• Reported operating income of $5.8 billion, down by 13.4%
• Repurchased 27.0 million shares of the company's common stock for $2.25 billion

  

Fortum Corporation: July 18, 2014, Interim report January 1 – June 30, 2014 (More here)

April−June 2014

• Comparable operating profit EUR 255 (289) million, -12%
• Operating profit EUR 295 (429) million, of which EUR 41 (140) million relates to
  items affecting comparability, i.e. mainly to the sale of the Norwegian electricity
  distribution and heat businesses
• Earnings per share EUR 0.28 (0.35), -20%, of which EUR 0.05 (0.12) per share
  relates to items affecting comparability. The sale of the Norwegian electricity
  distribution and heat businesses correspond to approximately EUR 0.08 per share
• Cash flow from operating activities totalled EUR 455 (282) million, +61%
• The Finnish Government decided not to introduce a power plant tax (windfall tax)
• The target for the Russia Segment in Russian roubles (RUB 18.2 billion) to be reached during 2015 is intact, but the euro result level will be volatile and with current exchanges rates lower than EUR 500 million

January−June 2014

• Comparable operating profit EUR 732 (813) million
• Operating profit EUR 2,629 (905) million, of which EUR 1,897 (93) million relates to
  items affecting comparability, i.e. mainly to the sale of the electricity distribution
  business in Finland
• Earnings per share EUR 2.81 (0.80), +251%, of which EUR 2.14 (0.08) per share
  relates to items affecting comparability. The main effect relates to the sale of the
  Finnish electricity distribution business totalling EUR 2.08 per share.
• Sale of the Finnish and Norwegian electricity distribution as well as the Norwegian
  heat business finalised
• Cash flow from operating activities totalled EUR 1,022 (749) million, +36%

 

NCC AB: July 18, 2014, Interim report January 1 – June 30, 2014 (More here)

April 1 – June 30, 2014

• Orders received: SEK 17,303 M (17,798)
• Net sales: SEK 13,479 M (13,535)
• Profit after financial items: SEK 576 M (457)
• Profit after tax for the period: SEK 451 M (365)
• Earnings per share: SEK 4.14 (3.35)

January 1 – June 30, 2014

• Orders received: SEK 30,527 M (29,474)
• Net sales: SEK 23,311 M (23,620)
• Profit after financial items: SEK 336 M (181)
• Profit after tax for the period: SEK 264 M (145)
• Earnings per share: SEK 2.43 (1.35)

Articles that caught my attention:

• Is dividend growth better than yield? by Dividend Life
• Visa Dividend Stock Analysis by Dividend Growth Stock Investing
• Five MORE Monthly Dividend Stocks By Charles Lewis Sizemore, CFA
• Dividend Challengers: 24 Increases Expected By September 30 by David Fish on Seeking Alpha
• Cisco Systems, Inc. (CSCO) Dividend Stock Analysis by Dividend Growth Stocks
• Seven Dividend Stocks I purchased for the long-term by Dividend Growth Investor
• Saving More Is More Effective Than Earning More by Dividend Mantra
• GlaxoSmithKline Hiccups Here And There, But Ultimately Makes You Rich by Tim McAleenan Jr.
• Dividend Investors Will Make Money Even if the Stock Market Closed for Ten Years by Dividend Growth Investor
• My Thoughts on The US Railroad Industry by Income Surfer
• The Importance of Diversification: Part 2 by Roadmap2Retire
• These 26 Dividend Contenders Could Soon Boost Payments by David Fish on Daily Trade Alert
• Do You Need To Own Canadian Dividend Stocks? by Tim McAleenan Jr.
• American Realty Capital Properties (ARCP) Dividend Stock Analysis by Dividend Growth Investor
• Canadian Century Club Dividend Stocks by DivHut
• Dividend Growth vs Dividend Yield by All About Interest
• Some Thoughts on the Margin of Safety by Dividend Engineering
• If You’re Looking to Become Financially Independent at a Young Age, Read This by Dividend Matra on Daily Trade Alert

I wish all readers comfortable next week.