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Carphone Warehouse - Special dividend of c170p-a-share

December 2011

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.

  • Epic Code:
  • CPW
  • Price:
  • 313p
Carphone's interims were dominated by the news that it is selling its interest in Best Buy Mobile back to its US partner, Best Buy Inc. for £838m, which represents a trailing exit multiple of almost 24 times or 19 times based on current year forecasts. This side, which provides independent advice on mobile devices to US consumers, has taken off in spectacular fashion and some analysts expressed disappointment that the price was not higher. Nevertheless, it will see Carphone return the proceeds to shareholders by way of a special dividend of c. 170p - not bad given that it hadn't put up any meaningful capital. ...

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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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