485p
I have been positive on the company for over 20 months now, having initiated coverage last year when the price was 220p ('Solid income buy', 25 Feb 2013). In this time the board raised the payout per share from 11.25p to 14.5p last year and guidance is for a payout of 16.5p in 2014. On that basis, the shares offer a decent 3.4 per cent yield, the appeal of which is augmented by a policy of paying out dividends on a quarterly basis. The next payment of 4.25p a share will be made on 11 December and the shares go ex-dividend on 20 November.