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Berkeley Group Share Chat (BKG)



Share Price: 3,907.00Bid: 3,907.00Ask: 3,908.00Change: -7.00 (-0.18%)Faller - Berkeley Gp.hld
Spread: 1.00Spread as %: 0.03%Open: 3,909.00High: 3,922.00Low: 3,871.00Yesterday’s Close: 3,914.00


Share Discussion for Berkeley Group


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exstatex
Posts: 636
Observation
Opinion:No Opinion
Price:3,547.00
masons/big landlords/fat cat
13 Sep '17
shocking IMO that directors take advantage of stock price uplift directly due to tax payer bail out of system. Such schemes should be taxed at 90%.
Separately I think the assets of big landlords who also benefited from bail out could be taxed like this
First 500sqm exempt
Remainder subject to 25% special sales tax
Remainder holdings not permitted to be used as collateral or be mortgaged, Further 'Remainder' portfolio could only be sold to fully funded buyers (mortgage free)
 
dadean
Posts: 125
Off Topic
Opinion:No Opinion
Price:3,573.00
Large director sells
8 Sep '17
Not alot happening on this board, large director sells recently they'll be happy with their proceeds
richred_uk
Posts: 166
Off Topic
Opinion:No Opinion
Price:3,675.00
Ex-Div Drop about to be wiped out
24 Aug '17
£36.74 as I type versus a close yesterday of £36.86 on here, £36.81 on Google - so the ex-div drop almost wiped out in a morning - think the company will be issuing a buy back RNS tomorrow?

As a side note, when I tracked the last quarter's buy back, I couldn't work out what had happened to the dividend from shares that were bought back cum-div (23-28/2) - I reckoned £188k roughly of dividend that the company saved but didn't seem to add to the latest dividend distribution - anyone else look at this and find an answer?
Liberalman
Posts: 1,775
Off Topic
Opinion:No Opinion
Price:3,699.00
RE: Looks like a 50p dividend
16 Aug '17
Thanks rich... at least it'll put Adam out of his misery. Considering I'm on a 50% gain on this one since buying almost exactly a year ago, I'm not too worried about divi level or buybacks (which have worked out well for the Company - Adam pl note).
richred_uk
Posts: 166
Off Topic
Opinion:No Opinion
Price:3,698.00
RE: Looks like a 50p dividend
16 Aug '17
A post of ADVFN says announcement tomorrow, but I can't confirm that on the investor relations section of the website. That does say that the record date for the dividend will be 25th August (on the Financial Diary Tab), so ex-div 24/8 and announcement tomorrow would seem to fit that timetable. HTH
Liberalman
Posts: 1,775
Off Topic
Opinion:No Opinion
Price:3,698.00
RE: Looks like a 50p dividend
16 Aug '17
Could anyone please advise me when the ex div date and divi amount will be announced? Thanks.
LordAdam
Posts: 462
Off Topic
Opinion:No Opinion
Price:3,546.00
Looks like a 50p dividend
11 Aug '17
Today's RNS puts the dividend down at 55.1p ... looks to me like the board are aiming to spend half the dividend on the buy back. So my pessimistic estimate of a 50% buy back policy seems to being coming true.

That's costing us poor people 3.1% per year not just this year but for every subsequent year, ie you pay 3.1% this year, and next year and so on ... *even if they stop* buying the things back! That's the power of compounding -- losses up front add up to mega losses over the years.

Mike
LordAdam
Posts: 462
Off Topic
Opinion:No Opinion
Price:3,579.00
RE: 40% dividend cut
7 Aug '17
Thanks for the update on the dates for the dividend announcement.

I think you hit the nail on the head when you said "I'm sure the gain isn't solely down to the buy backs" ... that's the real question, how much of the gain _is_ due to the buy back? and how much is due to Mr. Market, Brexit and the election etc.?

There's no real answer to that one, but there is a real answer to the following question "How much does the share price have to grow to compensate for a 50% buy back policy?" It's possible to analyze that precisely in a spreadsheet.

Two simple scenarios ... no buy-back, £2 dividend per year completely reinvested ... vs ... dividend of £1 reinvested plus annual growth generated by the £1 buy-back. So what growth rate do you need to compensate for the buy-back?

The answer is 3.1% ... you need a relentless 3.1% growth in the share price to compensate for the buy-back. Put another way, the buy-back takes 3.1% straight off the top of whatever you get and on a level share price that's a real loss of 3.1% when compared to the level dividend.

I'm not so sure that BKG can guarantee outperforming the market by 3.1% every year for the next 'n' years.

Mike
richred_uk
Posts: 166
Off Topic
Opinion:No Opinion
Price:3,555.00
RE: 40% dividend cut
7 Aug '17
The change in dates was announced in the half-year report 2/12/16 when they announced that the £10 per share would be split between dividends and buy backs:

"In February and August each year, the Company will announce the dividend to be paid at the end of March and September, respectively. This will be calculated as the absolute value amount to be delivered in the six months (£138.8 million based on the current shares in issue), less the cost of any share buy-backs undertaken in the relevant period. Going forward each subsequent relevant period begins on the date of announcement of the dividend for the previous relevant period."

Just for reference, the SP was £27.60 at the end of 2/12/16 when they announced the buy back and about £35.50 today - a gain of roughly £8.00 a share versus a loss to date of roughly £0.55/ share in dividends (and a gain of about £0.02/ share for each of the future dividends if there were no more buy backs). I'm sure the gain isn't solely down to the buy backs, but overall I can't say I'm unhappy with the performance.
LordAdam
Posts: 462
Off Topic
Opinion:No Opinion
Price:3,568.00
40% dividend cut
7 Aug '17
With today's RNS the dividend is down to 60.9p ... that's very nearly a 40% cut on the 100p that they promised it would be when they talked about returning £10 per share to holders.

Does anyone know why this year the dividend is being announced on 17 August when it was 15 June last year ... two months later?

Mike




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