Ups and Downs

Rolls-Royce shares soared 15% this morning after it slashed its dividend but held guidance; the lack of another profit warning alongside the bolstering of finances through the cut dividend was all it took. The final dividend payment has been halved to 7.1p, taking the full-year payment to 16.1p, compared with 2014’s total payout of 23.1p per share with plans afoot at Rolls-Royce to make a similar cut once again when the half year results are announced. Rolls-Royce shares have been undervalued for a very long time now and even after this morning’s increases, they remain undervalued. Long-term shareholders will have