ALMOST three years ago to the day I penned a piece for the Financial Mail about direct retailer Verimark, where I argued the share could offer a rare yield opportunity for investors willing to risk shopping outside the mainstream retail stocks. Thankfully I won’t need to resort to semantics to wiggle out of this prediction, even though the distributions were not quite as sumptuous as I expected. Then again, who could have predicted the rand’s precipitous drop?Two dividends were declared (including the financial year to end February 2016), making a grand total 8.9c/share over this three-year period. Perhaps readers who bought shares at 80c won’t be too pleased — I mean, who is, when faced with a capital loss of over 40%? But those who scooped shares at under 50c won’t be too unhappy with the yield.Still, it is with some trepidation that I approach Verimark again at the time of the release of its year to end February results. At face value the results were not fantastic, with earnings...
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