Wesfarmers stuns on growth and dividend

Wesfarmers has maintained its growth and delivered a far better than anticipated dividend. Investors loved it.

The first rule of retailing is to keep the customer satisfied. Richard Goyder has extended that principle to shareholders, handing out cash rewards that he clearly hopes will maintain the momentum in Wesfarmers (WES) top heavy share price.

A 50c a share capital return and a sharply lifted final dividend had an immediate effect, attracting a swarm of yield hungry investors as shares in the diversified retail, resources and financial services group leapt out of the blocks.

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