Aussie electronics retailer JB Hi-Fi at record-high, declares special dividend

JB Hi-Fi

12/08/2024 01:46

** Shares of Australian consumer electronics retailer JB
Hi-Fi Ltd  JBH.AX  surge as much as 10.7% to their all-time high
of A$74.590
    ** JBH top gainer in the ASX 200 benchmark index  .AXJO 
    ** Marks its biggest intraday jump since March 2020
    ** JBH announces special dividend of 80 Australian cents per
share citing "elevated" net cash position, and declares final
dividend of A$1.03 apiece
    ** FY24 NPAT of A$438.8 mln ($288.51 mln), above Visible
Alpha consensus of A$423.1 mln; FY23 NPAT was A$524.6 mln
    ** Jefferies says there is "a lot to like" in the results
given profit beat and capital management
    ** Also announces acquisition of white goods retailer e&s
Trading for initial cost of A$47.8 mln for a 75% stake
    ** Jefferies says acquisition "appears strategically sound"
    ** JBH up 27% this year as of last close


($1 = 1.5209 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))