£2,000 to invest? I’d buy these 2 FTSE 100 shares for my ISA

With £2,000 to invest, you could spread the money between two FTSE 100 shares. I think these consistent dividend-growing companies have a reasonable chance of out-performing their index in the years ahead.

Information-based analytics and decision tools

Relx (LSE: REL) provides information-based analytics and decision tools to markets around the world. I like the company because it has a long record of steady trading and growing financial figures. For example, over the past five years, revenue has ballooned around 37%, operating cash flow is almost 70% higher and normalised earnings per share have risen by more than 100%.

Meanwhile, shareholders have enjoyed the company’s success too, because the dividend and the share price have both risen around 75% over the period. And I think there is more to come from the firm in the years ahead.

In a trading update in October, the directors said they were “confident” the firm would achieve underlying growth in revenue and adjusted earnings per share for the full trading year in 2019. Meanwhile, with the share price close to 1,848p, the forward-looking earnings multiple for 2020 sits just below 19 and the anticipated dividend yield is around 2.7%.

Relx isn’t an obvious bargain, but it scores well against quality indicators and has a good trading record. I’d buy some of the shares for that growing dividend and with a long-term investment horizon in mind.

Inspection, testing and certification services

Intertek (LSE: ITRK) provides assurance, inspection, product testing and certification services internationally and has a network of more than 1,000 laboratories in around 100 countries. I like the firm because of its consistent record of trading. Indeed, over the past five years, revenue has risen around 43%, operating cash flow is more than 70% higher, and normalised earnings per share have shot up just over 77%.

Shareholders have done well over the period too, with the dividend rising a little over 117% higher and the share price rising by around 110%. I reckon there could be more to come for investors. In August in the half-year report, the company said it expected the full 2019 year to deliver “good” organic revenue growth at constant currency rates in each of its three divisions of Products, Trade and Resources. The directors said they were “confident” about the growth prospects in the global Quality Assurance market.

But with the share price close to 5,292p, the valuation looks full. The forward-looking earnings multiple for 2020 sits just above 23 and the anticipated dividend yield is a little higher than two.

However, the quality indicators look robust and it’s rare to find decent growing firms at bargain-basement valuations in the FTSE 100. I’d handle this share by aiming to buy on dips and down-days with a long-term investment horizon in mind.