Week in Review 45/14

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 November 3 I received a dividend of € 67.81 from AT&T.
• On November 6 I received a dividend of € 138.81 from Gjensidige. 

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

News from My Portfolio Holdings:

Fortum Corporation: November 3, 2014

• Fortum's Gasum divestment completed (More here)

NCC: November 4, 2014

• NCC is to energy upgrade 264 housing units in Tibberupparken in Espergærde. The contract could be worth up to DKK 241 million. (More here) 

Oriflame: November 4, 2014 Third Quarter Result (More here)

3 months ended 30 September 2014

• Local currency sales increased by 1% and Euro sales decreased by 7% to €274.5m (€294.6m).
• Number of active consultants decreased by 2% to 2.9m.
• EBITDA amounted to €26.3m (€26.9m).
• Adjusted operating margin was 7.2% (7.8%), negatively impacted by approximately 300 bps from currency movements, largely offset by positive price/mix effects and cost reductions ahead of plan, resulting in an adjusted operating profit of €19.7m (€23.1m). (Operating margin was 7.2% (6.6%) and operating profit €19.7 m (€19.5 m)).
• Adjusted net profit amounted to €11.8m (€9.4m) and adjusted EPS amounted to €0.21 (€0.17). (Net profit was €11.8 m (€5.7 m) and EPS €0.21 (€0.10)).
• Cash flow from operating activities amounted to €-4.9m (€-9.3m).
• The Board of Directors will continue to prioritise reducing the debt during the forthcoming quarters to ensure that the company remains financially strong. As a consequence, the Board has decided for no dividend payment in Q1 2015.
• Trading update: The year to date sales development compared to the same period prior year is unchanged in local currency and the development in the fourth quarter to date is approximately 4% in local currency.

9 months ended 30 September 2014

• Local currency sales decreased by 1% and Euro sales decreased by 12% to €912.1m (€1,035.5m).
• EBITDA amounted to €88.5m (€114.5m).
• Adjusted operating margin was 7.5% (9.2%), negatively impacted by approximately 350 bps from currency movements, partly offset by hedging and positive price/mix effects as well as cost reductions ahead of plan, resulting in an adjusted operating profit of €68.0m (€95.6m). (Operating margin was 7.3% (8.9%) and operating profit €66.3m (€91.9)).
• Adjusted net profit amounted to €35.9m (€57.2m) and adjusted EPS amounted to €0.65 (€1.03). (Net profit was €34.1m (€53.6 m) and EPS €0.61 (€0.96 m)).
• Cash flow from operating activities amounted to €24.0m (€48.4m). 

Tele2: November 4, 2014

• Tele2 and L&T Technology Services announce strategic M2M/IoT partnership, addressing the transportation industry (More here)

Bank of Nova Scotia: November 4, 2014

• Scotiabank Provides Information on Notable Charges Impacting Fourth Quarter 2014 Results (More here)

Prosafe SE: November 5, 2014 Third Quarter Result (More here)

• Operating profit for the third quarter amounted to USD 93 million (USD 90.4 million).
• Net financial costs amounted to USD 17.7 million (USD 3.4 million). This change is mainly due to revaluation of forward exchange contracts.
• Net profit equalled USD 67.4 million (USD 85.2 million), corresponding to diluted earnings per share of USD 0.29 (USD 0.36).
• Total assets at 30 September amounted to USD 1 769 million (USD 1 543 million). Net interest-bearing debt equalled USD 773.3 million (USD 613.7 million), while the book equity ratio declined to 41.1 per cent (45.7 per cent).
• The Board of Directors has resolved to declare an interim dividend equivalent to USD 0.053 per share. 

Alerian MLP ETF: November 7, 2014

• The Alerian MLP ETF declared its fourth quarter 2014 distribution of $0.2890 (More here)

AT&T: November 7, 2014

• AT&T to Acquire Mexico Wireless Provider Iusacell (More here)

 

Articles that caught my attention:

• Deep Value Purchase and a New Frugal Find by Income Surfer
• What should I do with American Realty Capital Properties (ARCP)? by Dividend Growth Investor
• Nestle: The Only Must Own Stock Outside The United States by Tim McAleenan Jr. on The Financial Home Of Tim McAleenan Jr.
• Bank of Montreal Dividend Stock Analysis by Roadmap2Retire on Seeking Alpha
• Can United Technologies Corporation Move Your Portfolio? by Passive Income Pursuit on Seeking Alpha
• Buying A Lot of Chevron Stock Right Now by Tim McAleenan Jr. on The Financial Home Of Tim McAleenan Jr.
• Eaton Corporation (ETN): A Hidden Dividend Gem To Consider by Dividend Growth Investor on Seeking Alpha
• Dividend Aristocrats In Focus Part 36: AFLAC (AFL) by Ben Reynolds on Sure Dividend
• Is It Wise To Buy Stock After A Catastrophic Event? by DivHut
• Do You Have The Patience To Be A Successful Value Investor?  by Chuck Carnevale on Seeking Alpha
• Oil Stocks And The Power Of Reinvested Dividends On My Mind Again by Tim McAleenan Jr. on The Financial Home Of Tim McAleenan Jr.

I wish all readers a nice next week.  

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