A message from our CIO, Scott Phillips:
G'day Fools. If you're like us, you're dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So we'll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine
The Endeavour Group Ltd (ASX: EDV) is responding to the Ukraine crisis with one significant product change.
Endeavour shares were swapping hands at $7.02 at the close of trade today, a 0.57% fall. In comparison, the S&P/ASX 200 Index (ASX: XJO) gained 0.28% today.
Let's take a look at how Endeavour Group is showing its support for Ukraine.
Russian product taken off the shelves
In response to Russia's invasion of Ukraine, Endeavour has decided to pull all alcohol made in Russia from its liquor shops and hotels.
Endeavour owns major Australian liquor outlets and brands including Dan Murphy's, BWS, ALH Hotels and Jimmy Brings.
An Endeavour Group spokesperson commented on the decision:
As an organisation, Endeavour Group is deeply concerned with the situation in Ukraine and we join the calls for peace.
Following feedback from a variety of stakeholders, we have decided to remove products of Russian origin from our stores, hotels and online businesses in the coming days.
Endeavour shares slipped 1% yesterday. As my Foolish colleague Sebastian Bowen reported, the company's shares were trading ex-dividend.
Endeavour expects to pay a fully-franked interim dividend of 12.5 cents per share on 28 March. Endeavour reported a 15.6% boost in net profit after tax (NPAT) to $311 million in its half-year results on 21 February.
Coles Group Ltd (ASX: COL) has also decided to remove Russian-sourced drinks from its Liquorland, Vintage Cellars and First Choice Liquor stores, SBS News reported.
Endeavour share price snapshot
The Endeavour share price has surged 16.61% in the past year. In the past month alone, Endeavour shares have surged more than 10%.
For perspective, the benchmark index has returned around 5% over the past year.
Endeavour has a market capitalisation of about $12 billion based on its current share price.
