Brickworks (ASX:BKW) maintains an impressive 47-year streak
Nick Sundich, March 23, 2023
Brickworks (ASX:BKW) has achieved a feat that few other ASX companies have: maintaining or increasing dividends for 47 years in a row. It released 1HY23 results this morning and recorded an NPAT of $410m.
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BKW records a solid result
BKW generated $584m in revenue (up 13%), $569m in EBIT (up 26%) and a $410m underlying NPAT (up 24%). It paid a dividend of 23c per share, yielding 1.9% on an annualised basis and thereby keeping the streak alive.
Ironically, this was not achieved merely through the company’s core brick-making operatings.
Property helps
Brickworks has a strategic stake in Washington Soul Pattinson (ASX:SOL) and also interests in industrial property. A $301m sale of Oakdale East into the Industrial Joint Venture Trust delivered earnings of $263m and boosted the Net Asset Value of Property Trusts to $2.2bn.
Turning to Building Products, North American EBITDA was up 16% to $14m but down 6% to $50m in Australia. The company blamed a backlog of work from government stimulus, labour market tightness and supply chain issues.
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