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Tamawood Limited confirms huge dividend yield of 9.48%

Credit: The Team

Tamawood Limited (ASX: TWD) is a homebuilder based in Queensland. It has one of the largest dividend yields on the ASX and has confirmed that yield with an announcement today.

The company said in an ASX release ‘The board can now confirm the interim fully franked dividend of 11 cents for 1HFY18. The board gives guidance that a final fully franked dividend of 16 cents for 2HFY18 consistent with FY17, subject to no unforeseen circumstances and a continuation of current prevailing market conditions. Sales remain ahead of FY17.’

Tamawood also advised that net profit before tax is down approximately $400,000 compared to the first half of FY17 subject to audit review and final half-year adjustments.

The decrease was blamed on 16 continuous days of inclement weather and an increase of compliance costs due to the new regulatory regime of the QBCC.

Tamawood also gave an update on its 23% investment in Senterprisys. It said that most of the new modules of the enterprise software have been completed and is now being tested. The new system will enable the business to expand its franchise network over the next year to 18 months.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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