VEA, CWY, BKL: Whats Making Headlines Today?

In today's news, three companies - Viva Energy Group Limited (ASX: VEA), Cleanaway Waste Management Limited (ASX: CWY), and Blackmores Limited (ASX: BKL) - have made significant announcements. Let's delve into the latest updates surrounding these companies and understand why they are in the spotlight.

VEA: Strong Sales Performance Despite Challenges

Viva Energy Group Limited (ASX: VEA) has released its unaudited financial results for the first half of 2023. The company witnessed robust sales performances, with overall volumes increasing by 11.5% compared to the same period last year. The Convenience & Mobility (C&M) sector experienced favorable fuel margins and steady sales volumes. The Commercial & Industrial (C&I) sector also saw notable growth, driven by the recovery in international travel and strong demand in resources, marine, and wholesale. However, the Energy & Infrastructure (E&I) segment faced challenges due to lower regional refining margins and production incidents. Despite these setbacks, Viva Energy expects the refinery to return to full production by early September.

The last price of Viva Energy Group Limited today showed an increase of AU$0.040 (1.374%), reaching AU$2.950.

CWY: Expansion into the Used Cooking Oil Market

Cleanaway Waste Management Limited (ASX: CWY) has announced its binding agreement to acquire Australian Eco Oils (AEO) for AU$39 million. AEO, operating as Scanline, is a leading collector and processor of used cooking oil (UCO) in Australia. This acquisition allows Cleanaway to enter the UCO market, which holds increasing significance for the production of renewable fuels. AEO processes approximately 11,500 tonnes of UCO annually and sells the processed product to the stockfeed and renewable fuel sectors. The acquisition includes three licensed processing facilities, a fleet of 26 vehicles, and around 30 employees. Cleanaway aims to offer circular and lower carbon solutions while exploring opportunities to extract valuable fats and oils for renewable fuel production.

Cleanaway Waste Management Limited (CWY) last traded at a price of AU$2.635, reflecting a positive change of AU$0.045 or 1.737%.

BKL: Blackmores Announces Special Dividend

Blackmores Limited (ASX: BKL) has declared a fully franked special dividend of AU$3.29 per share. This announcement is related to the proposed Scheme of Arrangement under which Kirin Health Science Australia Pty Ltd, a subsidiary of Kirin Holdings Company, will acquire all issued shares of Blackmores. The special dividend will be paid to shareholders holding Blackmores shares on the record date of 26 July 2023, conditional upon the scheme's effectiveness. In addition to the special dividend, Blackmores shareholders will also receive $91.71 cash per share on the implementation date of the scheme, expected to be 10 August 2023.

The last price of Blackmores Limited (BKL) is AU$94.900, reflecting a positive change of AU$0.219 (0.232%) today.

Conclusion

The latest developments involving VEA, CWY, and BKL showcase significant milestones for these companies. Viva Energy Group demonstrates strong sales growth, Cleanaway expands into the used cooking oil market, and Blackmores announces a special dividend in relation to its acquisition. These updates highlight the dynamic nature of these companies and their efforts to adapt and thrive in their respective industries.

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