Comment / Analysis: Wincanton, a rare beast eyeing a bite from potential suitors

The preliminary annual results from Wincanton were little short of inspirational for shareholders, with the cherry on the cake: the reinstatement of a dividend.

It’s the first for five years. Wincanton has proposed to pay out £6.7m, which is well covered by net earnings and implies a rich 2.9% forward yield based on the current price of 190p a share.

Wincanton is an asset-light business looking to attract yield-starved, buy-side fund managers at a time when the shares of several logistics companies offer decent yields ...