The Premier Investments Limited (ASX: PMV) share price was trading ~14% higher today. Over the past month, shares of Premier Investments Limited have pushed 19% higher.
For comparison, the S&P/ASX 200 (INDEXASX: XJO) has risen 4% in the same time.
About Premier Investments (PMV)
Premier Investments (PMV) listed on the ASX in December 1987 as an investment vehicle to acquire controlling stakes of ‘premier’ Australian companies with a particular focus on retailing, importing and distributing.
As of 2019, PMV has leading retail brands like Smiggle, Peter Alexander, Just Jeans and Jay Jays. It also owns just over 28% of Breville Group Ltd (ASX: BRG).
Today, Premier investments released its 2019 financial report to investors showing:
- Like-for-like sales growth of 4.2%
- Profit after tax up 23% year over year
- A final dividend of 37 cents, up 12%
PMV’s full-year dividends now stand at an impressive 70 cents per share, fully franked. That’s a dividend yield of around 4% at today’s share price.
“The Premier team continues to deliver outstanding returns for shareholders,” PMV’s Chairman and major shareholder, Solomon Lew, said.
“We have clear growth strategies in place for each brand – which the team executes on relentlessly, refines continuously and measures fastidiously. Capital continues to be invested in growth opportunities with great discipline.”
Buy, Hold or Sell?
After today’s share price rise, investors may be keen to take a closer look at shares of companies like Premier, JB Hi-Fi Ltd (ASX: JBH) or even Harvey Norman (ASX: HVN) to see if they can scratch a decent dividend yield over the next year.
My pick of the ASX retail shares is Premier. However, if my sole focus was a reliable dividend income I’d go with a low-cost, high-yielding ASX ETF like the one in the free report below.
Disclosure: At the time of publishing, Owen does not have a financial interest in any of the companies mentioned.