ASX dividend shares with yields over 10%? What could be better?

An ASX dividend share offering a 10% or greater yield on one's cash is a compelling proposition. We only found out this week that Australia's annual inflation rate is running at 6.9%. This technically means that if a dividend yield is under that threshold, the payments alone are not keeping your returns above breakeven.

So a 10% yielder is looking pretty good on that basis.

But finding high-yield ASX dividend shares is a bit of a risky business. There are plenty out there, to be sure. But if an ASX dividend share is offering a trailing yield above 10%, it's a sign that an investor might have to be wary. A company's trailing dividend yield reflects the past, not the future.

And if the share market lets a share trade with a trailing yield of more than 10%, it can often mean that many investors aren't expecting the dividends to continue at that level.

Otherwise, there would be more buyers, pushing the yield lower. So, always take a high dividend yield with a grain of salt.

But we digress. Here are 10 ASX dividend shares offering a dividend yield above 10% right now. The data comes from S&P Global Market Intelligence.

10 ASX shares with dividend yields over 10% today

Smartgroup Corporation Ltd (ASX: SIQ)

Smartgroup has paid out 66 cents per share in dividends over the past 12 months. That includes the March special dividend of 30 cents per share. This gives Smartgroup a trailing dividend yield of 12.6% right now.

Tabcorp Holdings Limited (ASX: TAH)

Gaming services provider Tabcorp has doled out payments worth a collective 13 cents per share this year. That gives Tabcorp a trailing yield of 12.42% at current pricing. But keep in mind that Tabcorp spun out Lottery Corporation Ltd (ASX: TLC) earlier this year, so this could affect Tabcorp's future dividend levels.

Yancoal Australia Ltd (ASX: YAL)

ASX coal share Yancoal is next up. This coal company has rained cash on its shareholders this year. It has doled out $1.03 in ordinary dividends per share, as well as a special dividend of 20.4 cents, for a total of $1.23 in dividends per share for 2022. That translates to a trailing dividend yield of 17.56% for just the ordinary dividends, and a whopping 21%, including the special dividend.

Magellan Financial Group Ltd (ASX: MFG)

ASX fund manager Magellan is another high-yielding share right now. This company has rolled out a total of $1.79 in dividends per share this year. At Magellan's current share price, that is worth a trailing yield of 18.34%

Latitude Group Holdings Ltd (ASX: LFS)

Financial services company Latitude is another relative newcomer to the ASX, having only listed in April last year. But it has certainly hit the ground running when it comes to dividend payments. Latitude has funded a total of 15.7 cents per share in dividends in 29022. That gives the ASX financial share a trailing yield of 11.89% right now.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue is one of the ASX's more well-known dividend payers these days. And over 2022, Fortescue did not disappoint in this regard. Investors have enjoyed a total of $2.07 in dividend payments per share this year. That gives Fortescue a trailing yield of 10.51% today.

Base Resources Ltd (ASX: BSE)

Mineral sands producer Base Resources is next. This company has given investors two dividends worth 3 cents per share each over 2022. On today's share price of 21 cents, that equates to a trailing yield of a whopping 28.57%

SPDR S&P/ASX 200 Resources ETF (ASX: OZR)

This exchange-traded fund (ETF) has had a top year when it comes to distribution payouts. This fund, as its name implies, holds a basket of ASX resources shares. So you can understand why it has been able to make its investors very happy in this regard. Investors have enjoyed payments worth a total of $2.08 per unit this year. That gives this ETF a trailing yield of 14.54% on today's pricing

Regal Investment Fund (ASX: RF1)

Listed investment trust Regal is another dividend share with an enviable yield. Investors have enjoyed distributions worth 39.56 cents per unit over the past 12 months. That gives the Regal Investment Fund a trailing distribution yield of 12.21%.

SPDR MSCI Australia Select High Dividend Yield ETF (ASX: SYI)

Our final share to check out today is another ETF. As its name implies, this fund from SPDR focuses on holding a basket of high-yield dividend shares. It pays distributions quarterly, which, over the past 12 months, totals $4.29 per unit. On the current unit price of $27.95, that gives this ETF a trailing yield of 15.35%.

The post 10 ASX dividend shares paying more than 10% yield right now appeared first on The Motley Fool Australia.

The Australian Securities and Investments Commission (ASIC) has launched legal action against two ASX All Ordinaries Index (ASX: XAO) companies, alleging their promotion of certain payment methods was misleading.

Harvey Norman Holdings Limited (ASX: HNV) and Latitude Group Holdings Ltd (ASX: LFS) are facing the regulator's wrath.

It's suing the pair in Federal Court over advertisements promoting "no deposit", "interest free" payment methods over a specified period.

ASIC alleges the companies didn't disclose that consumers could only access the payment method using a Latitude GO Mastercard, which would incur hundreds of dollars worth of fees.

Let's take a closer look at the legal action brought about against the All Ordinaries icons.

All Ordinaries constituents face ASIC's wrath

The securities and investments watchdog is suing Harvey Norman and Latitude over their advertisement of 'zero interest' payment options.

ASIC deputy chair Sarah Court commented on the suit, saying:

ASIC is concerned the advertising did not provide consumers with the full picture, that they could only use the interest free payment method by applying for and using certain Latitude credit cards.

These credit cards, ASIC alleges, attracted substantial fees over the course of the 60-month payment term, and exposed consumers to the risks of incurring further debts and charges, as well as potentially affecting their credit rating.

The regulator states customers who signed up to the GO Mastercard from March 2021 until August 2021 and followed the advertised payment method to tee would face fees of at least $537.

The GO Mastercard is only available from Harvey Norman franchisees' stores and Harvey Norman and Latitude's respective websites. ASIC says the two All Ordinaries companies saw "significant revenues" from the offering.

Latitude responded to the regulator's legal action, saying in a statement:

The allegations relate to historic advertisements that ran between 1 January 2020 and 11 August 2021.

Latitude takes these allegations very seriously and has worked cooperatively with ASIC during its investigation.

Harvey Norman also responded to the allegations:

Harvey Norman intends to defend the proceedings commenced against it by ASIC.

ASIC is seeking declarations, pecuniary penalties, injunctions, and other orders against Latitude and Harvey Norman. The date for the first hearing is yet to be scheduled. 

The post Why is ASIC suing these 2 ASX All Ordinaries companies? appeared first on The Motley Fool Australia.

It's a big week for ASX dividend investors as BHP Group Ltd (ASX: BHP) gears up to pay a whopping US$8.9 billion in fully franked dividends to eligible shareholders tomorrow.  

BHP shares have already past their ex-dividend date, so these dividends are no longer on the table.

But there are other companies in the S&P/ASX All Ordinaries Index (ASX: XAO) that are yet to turn ex-dividend.

In particular, two ASX All Ords shares will be going ex-dividend on Friday. Since the ASX is closed tomorrow, today will be the final day to pick up the latest dividends from these ASX All Ords shares.

Both of these ASX All Ords shares are flashing sizeable trailing dividend yields. So, don't be surprised to see their share prices in the red on Friday as the value of their respective dividends leaves their share prices.

Latitude Group Holdings Ltd (ASX: LFS)

First up, consumer finance business Latitude will be trading on Friday without a fully franked interim dividend of 7.85 cents per share.

Investors on the company's share registry when the market closes today should receive this payment on 26 October.

Alternatively, shareholders have the option to forgo this cash payment in favour of participating in the company's dividend reinvestment plan (DRP). Those who wish to participate must elect to do so by 27 September.

The market doesn't appear pleased with Latitude's first-half 2022 results, with shares down 9% in the last month.

Volumes came in at $3.7 billion, up 2% from the prior corresponding period (pcp) of 1H21, led by the personal and auto loans divisions.

Risk-adjusted income fell by 70 basis points from the pcp to 9.46%, weighed down by lower product pricing and higher funding costs. 

Given that Latitude makes the bulk of its revenue from interest on its products, other challenges during the half included excess consumer savings and elevated repayment rates.

Overall, the company's cash net profit after tax (NPAT) dropped by 11% on the pcp to $93 million. On a statutory basis, which includes non-cash items such as amortisation and impairments, NPAT tumbled 66% to $31 million.

Despite the reduction in profits, Latitude held its interim dividend steady at 7.85 cents. This is in line with the company's last two (and only) dividend payments since listing in mid-2021.

This means that Latitude shares are currently spinning up a sizeable trailing dividend yield of 11.5%. Including franking credits, this yield cranks up to 16.4%.

However, broker Macquarie believes Latitude could slash its dividends in the future, forecasting FY23 dividends of 8 cents per share. Based on current prices, this equates to a prospective forward dividend yield of 5.8%.

BSP Financial Group Ltd (ASX: BFL)

Also going ex-dividend on Friday is BSP Financial, the leading bank in the South Pacific.

Like Latitude, BSP recently released its first-half 2022 results. The group cut its unfranked interim dividend by 13% to 34 Papua New Guinean Kina (K).

ASX investors will receive this dividend in Aussie dollars on 14 October. 

The exchange rate will be finalised next week. But based on current spot prices, this dividend could land at around 14 Australian cents. 

Economic conditions in BSP's markets improved in 1H22, leading to a 13% lift in net operating income to K1,144 million. More specifically, this was driven by increased lending activities in Papua New Guinea and Fiji, and higher transactional volumes now that borders have re-opened.

On the bottom line, BSP delivered 30% growth in underlying NPAT, which reached K586 million. However, the company was slugged with an additional company tax of K190 million as part of new legislation that came into effect earlier this year. 

BSP has filed an application to the Supreme Court to declare the additional company tax unconstitutional and invalid.

Circling back to dividends, we'll have to wait for the confirmed exchange rate next week. But BSP Financial shares could be trading on a trailing 12-month dividend yield of around 13% at current levels.  

That said, between fluctuating exchange rates, foreign operations, and a different regulatory environment, BSP shares could be more complicated than your ordinary ASX investment.

The post 2 high-yielding ASX All Ords shares trading ex-dividend on Friday appeared first on The Motley Fool Australia.

The Latitude Group Holdings Ltd (ASX: LFS) share price is down in early trade Friday after the first-half results for FY22 and the exit of its chief executive were announced.

At the time of writing, the financial services provider's shares are down 0.63% to $1.58 apiece.

What did the company report?

• Statutory net profit after tax (NPAT) of $30.6 million, down 57% half-on-half and down 66% year-on-year (YoY)
• Cash net profit after tax of $93 million, down 11% YoY
• Total operating income of $370.4 million, down 9% YoY
• Dividend remains the same as 2H21 and 1H21 — 7.85 cents per share fully franked
• Managing director and chief executive Ahmed Fahour to retire by the end of August 2023 after more than four years in the position

What else happened in 1H22?

The major event for Latitude during the half-year was its attempted acquisition of the buy now, pay later business of Humm Group Ltd (ASX: HUM).

The $250 million proposal was ultimately mutually terminated. While neither party officially put up a reason for backing out, the business' poor performance updates likely didn't help.

The market consensus seemed to be that Latitude dodged a bullet. The Latitude share price rocketed up after the cancellation of the deal, while Humm's valuation plummeted.

Earlier this month, which was well after the first half ended, Latitude sold its insurance arm Hallmark to St Andrew Insurance Group.

What did management say?

Fahour said of the first-half result:

The cash NPAT result of $93 million, which is above consensus forecast, and our strong underlying balance sheet highlight Latitude's competitive and strategic advantage at a time of economic uncertainty. We have positioned the business to take advantage of the growth opportunities that we believe will emerge in the next 12-18 months. 

He then said of his departure:

While this is a difficult decision, after four years as CEO, now is the right time to prepare for my departure next year and support the Board as it plans for my succession as chief executive.

Getting Latitude ready for life as a public company and then realising that goal during a global pandemic with last year's IPO is something that I am particularly proud of.

What's next?

Latitude declined to give specific guidance for the second half and the full year.

However, the board stated:

Despite increased funding costs with the sharp rise in official interest rates in Australia and New Zealand, product re-pricing and other implemented measures will help offset the impact on margins. 

Latitude will gain further benefits from the full integration of Symple Loans, the growth in travel, cost discipline and productivity increases.

While unemployment remains low, Latitude anticipates delinquencies to stay below historical levels and it will persist with a prudent approach to credit underwriting. Receivables growth should be less affected by elevated repayments as higher cash rates erode excess consumer savings and governments end COVID-related financial assistance. Latitude's instalments business will also benefit as the higher cash rate adds to the attraction of its 'interest free' proposition. 

Latitude Group share price snapshot

The Latitude share price has dipped more than 20% this year to date.

However, it has rallied nicely from its 23 June trough, having put on more than 47% since then.

The dividend yield currently sits at an eye-popping 9.9%.

The post Latitude share price slides as CEO exits, profit plunges appeared first on The Motley Fool Australia.

It's Friday — you made it to the finale of a rather eventful week of earnings season. However, unlike the last couple of days, today's roster of ASX shares reporting is relatively concise.

Here's a quick summary of what to expect today so you have a jump on the market.

ASX shares slated to report today (smallest to largest)

Inghams Group Ltd (ASX: ING), $1.10 billion

Latitude Group Holdings Ltd (ASX: LFS), $1.65 billion

AGL Energy Limited (ASX: AGL), $5.49 billion

Cleanaway Waste Management Ltd (ASX: CWY), $5.59 billion

Stockland Corporation Ltd (ASX: SGP), $9.10 billion

TPG Telecom Ltd (ASX: TPG), $12.46 billion

Cochlear Limited (ASX: COH), $14.09 billion

Newcrest Mining Ltd (ASX: NCM), $16.67 billion

(Market capitalisations as of 18 August 2022)

What to expect

Plenty of eyes will be on energy retailer AGL Energy today after a disastrous full-year result from Origin Energy Ltd (ASX: ORG) yesterday. Shocking the market, AGL's competitor revealed a considerable $1.43 billion loss for FY22.

However, analysts are suspecting AGL will fare better with its own financials. Estimates from Bloomberg have the company's net profit after tax (NPAT) pegged at $323.8 million.

Another ASX share packaging up its full-year numbers for today is hearing solutions company, Cochlear. Analysts at Citi expect NPAT to come in at $299 million. This figure would represent a nearly 9% reduction in its statutory earnings from the prior year.

No doubt Latitude will pique the interest of those interested in the buy now, pay later space. The financial solutions provider is set to release its half-year results today following an outstanding performance from fellow BNPL company, Sezzle Inc (ASX: SZL) yesterday.

Lastly, investors will be dialing in today to hear how teleco giant TPG has performed in the latest half. Estimates are suggesting a dividend of 9 cents per share is possible.

Don't forget to check back in throughout the day to see all the latest results from your favourite ASX shares.

The post Earnings preview: Here's which ASX shares are reporting today appeared first on The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) shares had a wobbly start to today's session before steadying in the green this afternoon. The index closed 0.52% higher at 6,794.30 points.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) led the way today, gaining more than 3%.

It was driven higher by Link Administration Holdings Ltd (ASX: LNK)'s recommended $4.81 per share takeover bid and the surging Novonix Ltd (ASX: NVX) share price.

On the other end of the spectrum was the S&P/ASX 200 Energy Index (ASX: XEJ). It slumped almost 3% amid falling oil prices and results from some of the sector's biggest players.

Shares in both Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) slipped despite the companies posting seemingly strong earnings for the June quarter. Readers can find Santos' latest earnings here and Woodside's here.

The Brent crude oil price fell 0.4% to US$106.92 a barrel overnight, while the US Nymex crude price dropped 1.9% to US$102.26 a barrel.

All in all, seven of the ASX 200's 11 sectors were in the green at market close. But which shares posted the biggest gains? Keep reading to find out.

Top 10 ASX shares countdown

And the top-performing share in the ASX's 200 biggest companies by market capitalisation is, of course, Link Administration.

Coming in second best is Liontown Resources Limited (ASX: LTR). The company's share price has been on a roll lately, gaining around 26% over the last 30 days. Find out what the lithium stock has been up to here.

Today's biggest gains were made by these ASX shares:

Data as at 4.30pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The All Ordinaries Index (ASX: XAO) is wobbling today, jumping from red to green. Right now, the index is recording a 0.07% gain. But its erratic behaviour hasn't discouraged these three All Ords stocks.

They're each leaping as much as 8.5% today. Let's take a look at what's bolstering them against the All Ordinaries Index's volatility.

3 All Ords shares taking off on Thursday

Incannex Healthcare Ltd (ASX: IHL)

The Incannex Healthcare share price is leaping 7.14% to trade at 22.5 cents on Thursday. And for good reason.

The developer of medical cannabinoid products announced it's received ethics committee approval for a phase one clinical study involving its proprietary multi-use, anti-inflammatory drug IHL-675A.

Pre-clinical studies have shown the drug – combining cannabidiol and hydroxychloroquine – may be able to outperform either individual drug when treating inflammation.

The first clinical study will evaluate whether the drug brings about any side effects.

Temple & Webster Group Ltd (ASX: TPW)

Incannex is joined in the green by its ASX All Ords peer Temple & Webster. Shares in the online furniture and homewards retailer are lifting 7.6% to trade at $3.83 apiece.

That's despite the company's silence. In fact, the market hasn't heard from Temple & Webster for nearly three months.

However, as my Fool colleague Zach reported earlier today, retail and consumer cyclical shares have been on a roll lately. Indeed, the retailer's stock has lifted 15% since the start of July.  

Latitude Group Holdings Ltd (ASX: LFS)

Speaking of stocks on a roll, the Latitude share price is lifting 8.5% today, bringing its gains for the last 30 days to 34%. Its currently trading at $1.72.

It's another ASX All Ords share recording notable gains without releasing news. However, Latitude's recent upwards trajectory began just days after the company announced it had abandoned its plan to merge with ASX BNPL company, Humm Group Ltd (ASX: HUM).

The post 3 ASX All Ordinaries shares going great guns on Thursday appeared first on The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) shares spent most of Thursday in the green despite a rocky start to the session. The index closed 0.44% higher at 6,650.60 points.

The ASX 200's day in the green came despite Wall Street struggling through Wednesday's session. The S&P 500 Index (SP: .INX) slipped 0.45% overnight while the Dow Jones Industrial Average Index (DJX: .DJI) fell 0.67% and the Nasdaq Composite (NASDAQ: .IXIC) slumped 0.15%.

The S&P/ASX 200 Materials Index (ASX: XMJ) was among the Australian market's top performers today, lifting by 1.56% and driven higher by some of its biggest constituents.

It was likely also helped along by iron ore futures. They rose 1.9% to US$110.26 a tonne overnight.

ASX 200 energy stocks also outperformed after oil prices lifted slightly and the price of thermal coal shot up again, gaining 0.9% to reach US$430 per tonne.

Meanwhile, the S&P/ASX 200 Real Estate Index (ASX: XRE) and S&P/ASX 200 Financial Index (ASX: XFJ) both slumped around 1%, potentially impacted by a major surge in US inflation.

So, with all that in mind, which stocks outperformed all others on Thursday? Keep reading to find out.

Top 10 ASX shares countdown

And the top-performing share of the ASX's 200 biggest companies by market capitalisation on Thursday was – perhaps unsurprisingly – Yancoal Australia Ltd (ASX: YAL).

The coal producer's stock closed 10.29% higher at $5.68. Read more about Yancoal here.

Today's top 10 biggest gains were made by these ASX shares:

Data as at 4.40pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) ended the week on a strong note, boosted higher by energy shares. The index was 0.45% higher at 6,678 points when the market closed on Friday.

The S&P/ASX 200 Energy Index (ASX: XEJ) gained more than 2% today after oil prices rose overnight.

The price of Brent crude oil lifted 3.9% to US$104.65 a barrel in Thursday's session overseas. Meanwhile, the US Nymex crude price increased 4.3% to US$102.73 a barrel.

ASX 200 materials shares also outperformed on Friday, with many lithium shares among the market's best performers after a rough couple of weeks.

The S&P/ASX 200 Materials Index (ASX: XMJ) ended the day more than 1% higher amid reports by Bloomberg claiming China's government is considering a US$220 billion infrastructure stimulus program.

At the end of Friday's trade, eight of the ASX 200's 11 sectors were in the green. But which ASX shares outperformed all others? Keep reading to find out.

Top 10 ASX shares countdown

And the best performer among the ASX's biggest shares by market capitalisation is… Latitude Group Holdings Ltd (ASX: LFS).

The payment provider's shares topped the lot, gaining almost 13% after a late spike. Find out more about Latitude Group here.

ASX 200 lithium explorer and developer Liontown Resources Limited (ASX: LTR) came in second best, gaining 7.11%. Read up on what Liontown's been up to here.

Today's top 10 biggest gains were made by these ASX shares:

Data as at 4.30pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) peaked shortly after open on Monday, driven by energy shares, before paring back its gains this afternoon. The index was trading 1.11% higher at 6,612.60 points at the end of today's session.

The market spent today awaiting the outcome of the Reserve Bank of Australia's July meeting, to be released on Tuesday afternoon.

The big four banks have previously indicated they're anticipating the meeting will see interest rates hiked between 0.25% and 0.5%, bringing Australia's benchmark interest rate to between 1.1% and 1.35%.

However, T. Rowe Price's Scott Solomon commented a hike of 0.65% – bringing rates to 1.5% – wouldn't come as a surprise.

Energy shares led the ASX 200 on Monday, likely on the back of rising oil prices. The price of Brent crude oil lifted 2.4% to US$111.63 a barrel on Friday while the price of West Texas Intermediate oil gained 2.5% to US$108.43 a barrel.

Real estate shares were the next best performers, with the sector rising more than 2%.

As of Monday's close, none of the ASX 200's 11 sectors was trading in the red.

But which shares outperformed all others? Let's take a look at today's top performers.

Top 10 ASX shares countdown today

Taking out the crown of top performer among the ASX's 200 biggest companies by market capitalisation was APM Human Services International Ltd (ASX: APM). The healthcare share recorded an 8.9% gain on news of debt refinancing.

In its shadow was New Hope Corporation Ltd (ASX: NHC). Shares in the coal producer lifted 7.78% today. Read more on New Hope here.

Today's top 10 biggest gains were made by these ASX shares:

Data as at market close.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) bounced back for most of Friday before plunging into the red, weighed down by energy shares. The index was 0.43% lower at 6,539.90 points as of the final close of the week.   

The S&P/ASX 200 Energy Index (ASX: XEJ) fell more than 3.3% today, weighed down by oil prices.

Global oil prices fell between 1.2% and 3.7% on Thursday as the OPEC+ confirmed it would increase output in August as much as previously announced amid supply concerns. The fall saw oil prices recording their first monthly decline in 2022.

ASX 200 materials shares also underperformed on the back of lower base metal prices, after the price of copper recorded its worst quarter since 2011.

But it wasn't all dire today. Real estate and industrials bolstered the market, with the sectors each gaining more than 1%.

All in all, eight of the ASX 200's 11 sectors ended Friday's session in the green.

But which ASX share bested the rest to take out the crown of today's top performer? Read on to find out.

Top 10 ASX shares countdown today

The best performing share of the 200 largest ASX shares by market capitalisation on Friday might surprise market watchers.

It was none other than Air New Zealand Limited (ASX: AIZ). The airline has taken off nearly 7% on Friday to trade at 53.5 cents. Find out what Air New Zealand has been up to, here.

Its performance was shadowed by that of Latitude Group Holdings Ltd (ASX: LFS). Learn more about Latitude here.

Today's top 10 biggest gains were made by these ASX shares:

Data as at 3:59pm AEST

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) rebounded slightly this week after two consecutive weeks of poor performance. The benchmark index ended the session 0.74% higher at 6,576.40 points.

Nine of the index's 11 sectors closed higher, led by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 6% gain. It was likely driven upwards following decent gains on Wall Street overnight.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) was the market's worst performer, falling 1.5%. Coal shares were the sector's biggest weight despite the price of coal lifting overnight. Though, lower oil prices likely also weighed on the index.

But beyond the gloom, many of the ASX's top 200 shares outperformed on Friday. Here were the best of the bunch:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies by market capitalisation, Latitude Group Holdings Ltd (ASX: LFS) has bested the rest. The financial services provider's stock surged 18%, recovering some of its gains from earlier this week. Read more about Latitude's performance here.

Following on Latitude's heels is the Block Inc (ASX: SQ2) share price. The payments provider lifted alongside its tech peers on Friday, gaining 11% to do so. Find out more about Block here.

Today's top 10 biggest gains were made by these ASX shares:

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The Latitude Group Holdings Ltd (ASX: LFS) share price is gaining meaningfully for the first time since the company's deal to acquire the buy now, pay later (BNPL) leg of Humm Group Ltd (ASX: HUM) was scrapped last week. And it's returned to the green in style.

At the time of writing, the Latitude share price is trading at $1.28, 18.52% higher than it was at Thursday's close.

For context, the broader market is also gaining today. The S&P/ASX 200 Index (ASX: XJO) is currently up 0.41% while the All Ordinaries Index (ASX: XAO) has lifted 0.7%.

Let's take a closer look at what's been going on with the financial services provider and its stock lately.

Latitude share price ends the week with a bang

The Latitude share price is recovering some of its recent falls on Friday – a full week after the company's planned acquisition of Humm's consumer finance business fell through.

Latitude previously offered to buy the business – housing Humm's BNPL offering – for $35 million in cash and 150 million Latitude shares.

When the offer was first tabled in February, it was worth $335 million. However, its value tumbled alongside the Latitude share price before being binned.

The companies said the proposal was terminated due to "major disruption in financial markets".

Latitude also told the market that less than 1% of its revenue and receivables come from its own BNPL offerings. It continued:

Latitude Group is experiencing good organic volume growth, is profitable and well capitalised to execute on a number of opportunities ahead.

The company's positive outlook came after Humm chair Christine Christian said the Humm consumer finance leg hadn't turned a profit in 2022 before the deal was scrapped.

Christian cited "intense competition, rising interest rates, and weakening consumer sentiment" as the root causes of the segment's struggles.

The fallout of the deal's abandonment appears to have caused plenty of drama in Humm's camp. All but one member of the company's board vowed to walk this week. Meanwhile, all has been quiet with Latitude.

The Latitude share price traded flat on the day the deal was cancelled. It later tumbled nearly 23% between the end of last week and Thursday's close.

Today's rebound sees it now only around 8.5% lower than it was at the end of last Friday's session.

The post Latitude share price launches 19% in first major gain since scrapped Humm deal appeared first on The Motley Fool Australia.

All Ordinaries Index (ASX: XAO) shares are managing to hold onto their gains this afternoon, with the All Ords up 0.6% at time of writing.

While that's a healthy gain for the index to end the week, three ASX All Ordinaries shares are leaping well ahead of the benchmark.

The first 2 stocks leading the charge

Up 17.6% today, Latitude Group Holdings Ltd (ASX: LFS) is certainly doing its part to boost the index.

With no fresh price-sensitive news from the company, investors could be re-evaluating the impact of the company's decision not to move forward with its proposed $250 million acquisition of Humm Group Ltd (ASX: HUM)'s buy now, pay later (BNPL) business.

BNPL shares are some of the best performers on the ASX today.

Following today's lift, the Latitude share price is down 36% so far in 2022.

Our second All Ordinaries share charging higher on Friday is Betmakers Technology Group Ltd (ASX: BET), up 20% at the time of writing.

The All Ordinaries share provides data and analytic products for the B2B wagering market.

Investors are snapping up the stock after the company reported this morning it plans an on-market share buyback of as much as 10% of its outstanding shares, or more than 90 million shares.

The Betmakers share price remains down 55% year-to-date, despite the big bounce today.

Our top performing ASX All Ordinaries share

Moving on to our top-performing ASX All Ordinaries share, we have Vulcan Energy Resources Ltd (ASX: VUL).

The lithium and battery metals explorer and producer's shares are up 26.8% today.

Investor enthusiasm was stoked by a release this morning reporting that international giant Stellantis has invested $76 million in Vulcan Energy. Stellantis subsidiaries include global vehicle names like Peugeot, Chrysler, Citroën, Opel, Dodge, and Maserati.

Stellantis is paying $6.62 per share, still some 4.4% above the current Vulcan share price.

The ASX All Ordinaries share remains down 41% year-to-date.

The post 3 ASX All Ordinaries shares going gangbusters on Friday appeared first on The Motley Fool Australia.

The Latitude Group Holdings Ltd (ASX: LFS) share price jumped from the gates and is now rangebound in early trade on Friday.

At the time of writing, it's fetching $1.40 — the same as yesterday's closing price — having already slipped more than 29% into the red this year to date.

In broad market moves, the S&P/ASX 200 Index (ASX: XJO) started down on Friday and is currently tracing 2% lower at 6,435. Returns for the last five trading days on each are below.

Latitude share price jumps amid cancelled deal

The company revealed today that its agreement to purchase Humm Group Ltd (ASX: HUM)'s buy now pay later (BNPL) business has been terminated. The transaction was valued at $250 million.

Latitude notes the decision to terminate was mutual.

In light of the current major disruption in financial markets, Latitude and Humm have mutually agreed to terminate the proposed sale of humm consumer finance (HCF) to Latitude.

Whilst investors have been driving up Latitude early today, the same can't be said for the Humm share price. It's tracking almost 14% lower at the time of writing.

The drop brings Humm's losses to more than 45% for the year to date and 52% over the past 12 months.

Meanwhile, Humm said it continued to believe that HCF was a "high-quality business".

"The board…intends to review HCF's strategic direction to focus on its core products and markets in order to restore profitability," it said.

Latitude's attitude was a more upbeat, noting a small impact. It advised it was profitable and well-capitalised, with growth tailwinds.

"BNPL represents less than 1% of Latitude's revenue and receivables," the company said.

The Latitude share price is down more than 39% in the last 12 months.

The post Latitude share price lifts on cancelled Humm deal appeared first on The Motley Fool Australia.

At the time of writing, the financial services company's shares are down 11% to a new multi-year low of 51 cents.

This means the Humm share price is now down 31% this week.

What's going on with the Humm share price?

Investors have been selling down the Humm share price today after the company revealed that the $250 million sale of its buy now pay later business to Latitude Group Holdings Ltd (ASX: LFS) has been terminated.

The Latitude share price is up slightly on the news in early trade.

According to the release, the two parties mutually agreed to terminate the proposed Humm Consumer Finance (HCF) transaction due to current major disruption in financial markets.

This is a big blow for Humm, which has been trying to offload the struggling business to focus on its profitable and positive performing Humm Commercial business.

In fact, yesterday Humm released a trading update and stated that HCF's performance remains under significant pressure. So much so, that at the end of May, the business had recorded a financial year to date cash net profit after tax decline of 61%.

While it was likely that Humm was highlighting this poor performance to gain support for its sale amid criticism from a major shareholder, it's possible that this raised a few eyebrows at Latitude.

In fact, reports yesterday suggested that Latitude could have been looking to back out from the deal for HCF due to its deteriorating performance. So, today's termination isn't a complete surprise.

This morning the Humm Board tried to save a bit of face by talking up the business again now that it is stuck with it. The release states:

The Board of Humm continues to believe that HCF is a high-quality business and intends to review HCF's strategic direction to focus on its core products and markets in order to restore profitability. The Board and Management remain excited about flexicommercial's prospects. Humm remains in a strongly capitalised position with surplus unrestricted cash and no drawn corporate debt.

The post Humm share price sinks 11% following termination of $250m BNPL sale to Latitude appeared first on The Motley Fool Australia.

The Humm Group Ltd (ASX: HUM) share price is sliding on Thursday. It comes as the battle to sell the company's consumer finance leg – housing its buy now, pay later (BNPL) business – heats up.

The company's director and largest shareholder Andrew Abercrombie – who opposes the sale of the company's consumer finance segment – has labelled the transaction "nothing but a garage sale". He urged the company's board to inform shareholders of the sale's falling value yesterday afternoon.

However, Humm chair Christine Christian noted the segment has been underperforming in 2022 and will continue to struggle if not sold.  

At the time of writing, the Humm share price is 65 cents, 3.7% lower than it was at its previous close. However. it was up by almost 4% at 70 cents in early trade before retreating.

Let's take a closer look at the clash emerging over the future of Humm's BNPL business.

Directors disagree on proposed BNPL sale

The Humm share price is sinking on Thursday as Abercrombie continues his campaign against the sale of the company's consumer finance business despite its tumbling earnings.

In a trading update released to the market this morning, the finance provider outlined the extent of the segment's suffering.

Its cash net profit after tax plummeted 61% over the fiscal year to date to May. Meanwhile, its net receivables slipped 3.6% between 31 December and 31 May.

 "The trading environment is very tough for [Humm consumer finance], with intense competition, rising interest rates, and weakening consumer sentiment," Christian told the market.

"Without enhanced scale, which the [Latitude Group Holdings Ltd (ASX: LFS)] transaction will deliver, the outlook for [the segment] will be even more challenging."

The company has previously flagged not selling the business could pose a "significant risk" for the Humm share price.

Latitude has offered Humm shareholders $35 million cash and 150 million Latitude shares in exchange for the business. When the offer was initially tabled, the scrip portion of the sale was valued at $300 million.

However, the Latitude share price has since fallen 25%. As of its previous close, the offer is, therefore, valued at around $225 million.

Yesterday Abercrombie reconfirmed his belief that the proposed transaction was "a dud deal from the very beginning".

He continued: "[It] undervalu[es] what I believe is a great business which the very same board confirmed was profitable just seven months ago."

Abercrombie is calling for the company to outline the current value of the transaction. He says doing so will allow shareholders to place an informed vote when they go to the ballots on the sale next week.

"When I speak to shareholders, some of them continue to believe that the consideration payable by Latitude is worth $335 million," he said.

"I think it is only fair for the chair to inform all shareholders of this huge drop in value."

Humm share price snapshot

The Humm share price is currently 27% lower than it was at the start of 2022. It has also slipped 36% since this time last year and is down 5% over the past month.

The post 'A dud deal': Why is the Humm share price falling on Thursday? appeared first on The Motley Fool Australia.

Last month was a rough one for most ASX buy now, pay later (BNPL) shares.

While the broader market ended the month in the green – the All Ordinaries Index (ASX: XAO) and S&P/ASX 200 Index(ASX: XJO) each gained 6.3% in March – nearly all ASX-listed BNPL stocks slipped lower.

In fact, the market's favourite pureplay BNPL stock, Zip Co Ltd (ASX: Z1P), recorded the biggest tumble of the month.

So, what dragged on some of the sector's biggest players in March? Let's take a look.

What drove ASX BNPL shares lower in March?

While ASX BNPL shares might have been hit with talk of inflation and interest rate rises, there were plenty of concrete happenings that weighed many down last month.

Firstly, shares in Zip and Sezzle Inc (ASX: SZL) both entered March fresh from the freezer after the former made a takeover bid for the latter.

The all-scrip deal – quickly accepted by Sezzle's board – will see investors receiving 0.98 shares in Zip for each Sezzle stock they own.

The Zip share price tumbled 6% on 1 March, while that of Sezzle gained almost 10%.

Zip also underwent a $148.7 million institutional placement to strengthen its balance sheet last month. Finally, it opened a share purchase plan that could raise $50 million.

Additionally, Sezzle made more headlines in March when it announced it would dump 20% of its workforce to save around US$10 million annually.

Over the course of last month, the Zip share price tumbled 32.5% while that of Sezzle fell 24.1%.

Block Inc (ASX: SQ2) was one of the only ASX BNPL shares to record a gain last month. It is, of course, the owner of former market favourite, Afterpay.

The Block share price gained 19.3% in March despite no news being released by the company. However, it was removed from the S&P/ASX 20 Index (ASX: XTL).

Speaking of index movements, shares in Latitude Group Holdings Ltd (ASX: LFS) entered the All Ords last month. Meanwhile, those of Splitit Ltd (ASX: SPT) were booted from the benchmark index.

Novatti Group Ltd (ASX: NOV)'s stock also went through an index shakeup – it was dumped from the S&P/ASX All Technology Index (ASX: XTX).

The share prices of Latitude, Novatti, and Splitit fell 5.7%, 4.1%, and 11.1% respectively last month.

Finally, ASX BNPL shares Humm Group Ltd (ASX: HUM) and IOUPay ltd (ASX: IOU) also slipped lower last month. They fell 2.2% and 5.5% respectively.

The post March was a lousy month for ASX BNPL shares. Here's why appeared first on The Motley Fool Australia.

In morning trade, the financial services company's shares are up 7.5% to 92.5 cents.

Why is the Humm share price shooting higher?

The catalyst for the rise in the Humm share price on Friday is news that a deal has finally been struck between it and Latitude Group Holdings Ltd (ASX: LFS) for its buy now pay later (BNPL), instalment, and credit card operations.

According to the release, the two parties have executed a binding agreement that will see Latitude take control of these consumer businesses for a total consideration of $335 million. This represents cash of $35 million and 150 million Latitude shares.

There were concerns that recent weakness in BNPL shares could scupper the deal or lead to the consideration being reduced, but that has proven not to be the case. These terms are the same as those announced on 4 January when Latitude first tabled its offer.

Why acquire these operations?

Latitude believes it will generate $55 million of annual synergies from duplicate costs, technology rationalisation, and funding benefits by the end of 2023 following full integration.

In addition, the release notes that Humm Consumer is expected to generate $35 million of pre-tax cash earnings for the full year 2023. As a result, the combination is expected to deliver incremental pre-tax cash earnings of $90 million on a run-rate basis by the end of FY 2023, excluding $10 million of revenue synergies.

Ultimately, the transaction is expected to deliver double digit cash earnings per share accretion assuming full run rate synergies. This is despite the issue of 150 million new shares to Humm shareholders.

Management commentary

Latitude's Managing Director and CEO Ahmed Fahour said: "The acquisition of Humm's consumer business is a great outcome for both Latitude and Humm shareholders. The Transaction will deliver significant synergies and shareholder value, cementing our position as the leading instalments and consumer lending business in Australia and New Zealand and accelerate our international expansion."

"Humm's consumer business is a great fit for Latitude given Humm's capability in big and small ticket BNPL and its merchant base, providing additional scale to Latitude at minimal marginal cost."

Mr Fahour also revealed that Latitude is inviting Humm's CEO to lead the BNPL business.

He said: "Upon completion, it is proposed that Humm Group CEO Rebecca James will be invited by Latitude to lead the combined group's BNPL business. Latitude also intends to invite two Humm independent directors to join the Latitude Board."

The Humm share price is down 27% over the last 12 months.

The post Humm (ASX:HUM) share price shoots higher on $335m Latitude BNPL deal appeared first on The Motley Fool Australia.

Today, the S&P/ASX 200 Index (ASX: XJO) regained its footing to finish the week higher. At the end of the session, the benchmark index climbed 1.29% to 7,453.3 points.

Investors returned to the market with a more optimistic perspective today compared to yesterday's brutal session. As a consequence, all sectors were showing up green at the final bell. Leading the index higher were energy and financial shares. Another positive move in oil prices overnight provided a positive injection for oil and gas companies.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Medibank Private Ltd (ASX: MPL) was the biggest gainer today. Shares in the private health insurer rallied 5.88% to a new 52-week high despite there being no announcements out on Friday. Find out more about Medibank Private here.

The next biggest gaining ASX share today was Latitude Group Holdings Ltd (ASX: LFS). The financial services company gained another 4.00% today after a solid session yesterday amid its plans to acquire the consumer services business of Humm Group Ltd (ASX: HUM). Uncover the latest Latitude Group details here.

Today's top 10 biggest gains were made in these ASX shares:

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.