• WPP has fallen over 48% since February 2018, highlighting greater margins of safety for investors.
  • Growth is currently in decline, fuelling further pessimism by Mr Market.
  • Dividends remain strong at 7.5%, making this an opportunity closer to an income play than to a capital appreciation one.
  • Extremely cash generative business, lack of capex helps maintain the high dividend yield.


The current state of WPP remains as divided as the summary of this article. Recent months indicate a flatlining in share price, down just over 48% from the 12-month peak. At this level dividends remain highly attractive at 7.5%, while market conditions remain mixed. WPP performs somewhat significantly below the bench-marks set by traditional competitors, and will continue to do so until 2021 at the earliest – yet this is largely priced in at current levels.


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