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Dunelm - Becoming a great total return stock

March 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Dunelm spiked to a new high after its H1 results were accompanied with another special dividend. This month’s 70p payout (ex on 2 March) is the fourth special dividend to date (total now 149p). Net cash at the period end was £38.3m and the dividend will cost £143m, pushing it into a debt position. Dunelm said it anticipates further special dividends as and when cash generation takes the net debt/EBITDA below 0.25x.Dunelm is clearly shaping up as one of the great total return stocks on the market with the regular annual dividend up from 3.8p to an expected 22p between 2007-2015 - but not a patch on Photo-Me’s record. H1 results themselves were excellent with overall sales up 14% to £40 ...

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Dunelm - High growth ambition for home delivery (September 2020)

Dunelm - Strong Q2 performance and forecasts upgraded (February 2020)

Dunelm - Trading ahead of expectations (July 2019)

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Dunelm - Q3 online sales +36% (May 2018)

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Dunelm - Excellent Q1 update (November 2017)

Dunelm - Q4 shows early signs of improvement (August 2017)

Dunelm - Follow directors lead and buy (March 2017)

Dunelm (November 2016)

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Dunelm (August 2015)

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Dunelm (August 2014)

Dunelm (October 2013)

Dunelm - Homeware supremo targets 300 stores (August 2013)

Dunelm (February 2013)

Dunelm - 32.5p a share special dividend (October 2012)

Dunelm - Rain-sodden consumers buy more homewares (August 2012)

Dunelm (February 2012)

Dunelm (November 2011)

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Dunelm - First ever downgrade to profits as snow hits hard (February 2011)

Dunelm - Shares rocket after Q1 trading update (November 2010)

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Dunelm - Future growth driven by new space (August 2010)

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Dunelm - Proposes a 21.5p special dividend (March 2010)

Dunelm - Ahead of expectations (December 2009)

Dunelm - Solid prospects drive shares higher (November 2009)

Dunelm - Astonishing 16.1% like-for-like sales growth in the first 10 weeks (October 2009)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Dunelm - Becoming a great total return stock

March 2015

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