Shareholders in packaging group Mondi (LON: MNDI) are enjoying the benefits of the group's mix of modern technology and market-leading scale. The stock has risen by 70% in five years and in the same time, the dividend has doubled.
But still, a mix of acquisitive and organic growth has left the company promising further growth. We think the shares remain affordably valued and could be a profitable buy for income investors.
Mondi can trace its roots back to South Africa in 1967, when former owner and mining group Anglo American (LON: AAL) built the Merebank Mill. Mondi went on to build an international portfolio of plants, mostly in Central and Eastern Europe and South Africa.
The company was spun out of Anglo American in 2007. After a shaky start during the financial crisis, both the business and its shares have grown steadily over the last decade. Today the group has over 100 sites in more than 30 countries. These…
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