Stock Watch
WATCH: Stock picks — Fortress B and Nike
Nick Crail from Ashburton Investments and Bright Khumalo from Vestact talk to Business Day TV
Nick Crail from Ashburton Investments chose Fortress B as his stock pick of the day and Bright Khumalo from Vestact chose Nike.
Crail said: “I’m going to go for a local stock with a high dividend yield and that is Fortress B, a property share. You have the A and B shares, the A shares effectively guarantee a 5% increase in dividend on an annual basis. The B shares are the ones that take the beating should the overall company not have the ability to pay that out. But, when having a look at that share at the moment, if consensus is right and you see the B shares actually growing their dividend next year, it could be around 18% dividend yield on a forward basis.” ..
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