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One stock to buy that could net you more than 40% gain in 10 months!

by , 04 February 2020
One stock to buy that could net you more than 40% gain in 10 months!
As predicted, Telkom's (TKG) share price has fallen since I tipped it as a sell above R94.00 eight months ago.

It has plummeted 60% so you could have made some good money shorting this stock.

Now I believe the tide is turning on Telkom as it bounces from R30. The slide is over, and patient investors could make money buying today.

Here's why...
 
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People are ignoring one of the biggest reasons to buy TKG today, and that’s its dividend policy.
 
It must pay out 60% of headline earnings as an annual dividend... this includes an interim dividend of 40% of interim headline earnings.
 
Forecasts are for Telkom’s earnings to remain flat for the full year to 31 March 2020, but even if it contracts by 40%, it will achieve earnings around R4.
 
That means it will still have to declare a R1.70 dividend in March (R0.7152c received in the interim period) for a full year dividend around R2.40. Add in the interim dividend at the end of this year and TKG is on a dividend yield well over 7%.
 
Its results are in line with expectations and the dividend policy remains unchanged, TKG will deliver over 10% in dividend in 2020.
 
Looking at the chart, the R30 support level should form the base for future rallies.
 
 
 
I see Telkom as a Buy below R35 and you could see over 30% growth in the share price. Plus bank over 10% in dividends before year end.
 
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Gavin McCarter,
Finova Capital, Wealth Manager


One stock to buy that could net you more than 40% gain in 10 months!
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