Dulux Well-Placed to Continue Riding Bunnings’ Coat Tails for the Foreseeable Future
Despite shares in Dulux trading broadly in line with our unchanged AUD 7.50 per share fair value estimate, we view the group as an extremely high-quality business and we would recommend investing upon any share price weakness. At the current price, the stock is yielding a healthy 4% fully franked dividend, and typically pays out around 70% of its earnings which we believe is sustainable given strong cash generation. One of the narrow-moat firm’s characteristics to which we are most attracted is ...DuluxGroup is engaged in the manufacture, marketing, manufacture, marketing, sale and distribution of branded paint, coatings, adhesives, garden care and other building products to the residential home improvement, commercial and infrastructure markets across Australia, New Zealand and Papua New Guinea, China, South East Asia and the U.K. Co. supplies paints and coatings under the Dulux brand; consumer and construction products under the Selleys and Parchem brands; cabinet and architectural hardware under the Blum, Hera, SecureView, Assa Abloy and Breezway brands; and Yates garden care and home improvement products.
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