IVE Group Ltd (ASX:IGL) went ex-dividend yesterday paying 8 cents per share to its shareholders.
The dividend compliments a solid December half which saw sales revenue increase 73% to $359 million and NPAT grow 50% to $17.4 million.
At its current share price of $2.16, the company trades on roughly 9.5x forward estimated earnings - significantly lower than the ASX200 average of around 16x.
Broker Bell Potter has a current price target of $2.70, representing a 25% premium to the current ex-dividend share price.
Marketing services and print communications provider
IVE is a vertically integrated marketing services and print communications provider.
This means it enables its customers to communicate more effectively with their customers by creating, managing, producing and distributing content across multiple levels.
Its key customers include Commonwealth Bank (ASX:CBA), Optus, Fairfax Media (ASX:FXJ), Westpac (ASX:WBC), McDonald’s and Coles.
IVE delivers its products and services through four operating divisions – Kalido, Blue Star, Pareto and IVEO.
Recently reaffirmed full-year guidance
IVE recently reaffirmed its FY18 guidance, which is pro forma EBITDA in the range of $72 to 77 million.