The ( ) is paying enormous attractive. This sells a variety of male and female grooming products, including some sold exclusively by the business. The company also sells products in the oral care, hair care, massage, air treatment, and beauty categories.
Shaver Shop recently reported its for the 2024 financial year. Considering the difficult economic environment for households, I thought the FY24 result was quite resilient. Total sales fell 2.
3% to $219.4 million, and declined 10.1% to $15.
1 million. However, pleasingly, the dividend payout was stable, which is what I was expecting from this ASX dividend share. Shaver Shop generated of 11.
7 cents in FY24, a 10.7% decrease year over year. That profit generation of 11.
7 cents per share was more than enough for the company to maintain its annual payout of 10.2 cents per share, the same payout as FY23. At the current Shaver Shop share price, the FY24 payout translates into an annual fully dividend yield of 8.
2% and a grossed-up dividend yield of 11.75%. The company noted its has increased 112.
5% since FY20. The ASX dividend share is working on a number of initiatives to help grow profit in FY25 and beyond. The business has introduced a new private brand, Transform U, to fill existing gaps and meet customer needs.
It will "selectively expand Transform U range if initial launch proves successful". The company is currently planning to launch between 20 and 30 products in time for key sales periods in November and December 2024. The .