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Hi CSDI
I too am under water here and don't disagree with you as far as SLA are concerned. I too wish they'd paid any so called surplus cash as divs. For some reason the buy backs appear to have had no effect on the SP but then again maybe they have? Maybe the SP without them would be even more dire - Guess we'll never know
Hi Risking it,
No worries - my track record is pretty useless - hence the C S D I.
As a PI, I have never had any benefit from a company adopting buybacks .... in fact the opposite.
To say it is a "cash return to shareholders" is a nonsense.
I am sure there is some benefit if you hold 5% of a FTSE company in theory, but tell me in the case of SLA how any PI has made money from this idea, as I just cannot see it.
Even the re-structure in 2018, reduced our shares to 7/8 and gave us 33.9p to compensate.
More so it reduced any future divi I would receive by 1/8 by virtue of owning less shares through no choice of my own.
SLA makes up approx 8% of my SIPP, and I would just like to see the SP get back to what I paid in April 2018.
At current price I am down 24% on my capital, but the divis have covered 16% of that loss at least.
Maybe it will eventually recover. I would have much preferred a special divi paid to us all, rather than the buybacks which I still believe are a waste of money.
On this one, we will just have to agree to disagree. Trust you understand even if not in agreement.
good luck with your investments, as ultimately the world is a better place if we can all win.
Cheers - CSDI
The Basics of Buybacks
In recent history, leading companies have adopted a regular buyback strategy to return all excess cash to shareholders. By definition, stock repurchasing allows companies to reinvest in themselves by reducing the number of outstanding shares on the market. Typically, buybacks are carried out on the open market, similarly to how investors purchase stocks. While there has been a clear shift in wealth distribution of dividends to stock repurchasing, this doesn’t mean a company cannot pursue both.
If you're going to use CAPITALS I suggest you know what you're talking about
Sorry but buy backs do NOT return CASH to shareholders.
Dividends do.
Buy backs are a theoretical way of increasing share value, by reducing the number of shares in float.
But reality shows companies get this wrong. Now share prices are lower in the UK than most of the last 5 years yet buybacks have been pulled back.
I am sure BP, RDSB and SLA among others were busy buying back shares over the last 2-3 years and yet all these shares prices are well down. Dividends cut too. 'Nuff said .. I rest my case your honour ... LOL
Cheers C S D I (Crap Share Dealing Ideas)
Show me one company in the FTSE100 who
Share buy backs are one way of returning cash to shareholders - At least this is the theory. But for SLA the opposite seems to happen
Like you I invest for the dividend income - I hold SLA, L&G & Aviva and have for some time - L&G have served me well, they have ups and downs with the market but over a normal investment time span tend to go up plus they have a good dividend record. I've lost capital on both SLA & Aviva but didn't mind so much if they carried on with decent divs. Sadly Aviva withdrew most of their 2019 div and have now reinstated at a lower level
I must say I do not undersatnd any company throwing money at Buy-backs - may as well throw money down the toilet as far as investors are concerned. To make it worse they alway buy back when prices are high, and cut back when prices are low !! Would be far better to either:
a) pay down debt - the No 1 business killer
b) hold cash - to develop own business
c) pay a special divi if cash is burning hole in pocket.
SLA has been in serious decline since selling off its old core insurance/assurance business, and then losing big funds with Lloyds/Scot Widow. The share price has gone south from the £5 level 3 years ago. With my usual skill I bought in April 2018 at around 360p. The 7 for 8 consolidation made no sense and reduced our divi income by 1/8 each year ! The only saving grace is that SLA held its nerve with the FCA and carried on with the divi this year. I've collected 3 yrs of divis so far that make up approx 16% of my purchase price. My break-even target is around £2.95, so fingers crossed for a decent run to year end. The current yield of 7.8% is enough for me to keep holding, but not sure I like the sound of a potential divi cut as next years forecast EPS is only 16p, with 14p for this year according to Digital Look forecasts. This does not cover the existing 21.6p annual divi.
Not sure if AV or LGEN may be a better option, as my aim is to hold capital and withdraw divis for income.
Up 15% since my last post but I suspect this is vaccine and Brexit related rather than the anything the company has done.
The article in the dailymail speculates about a div cut but I think investors will lynch the new boss if they cut the div now after all the buy backs.
https://www.dailymail.co.uk/money/markets/article-8948845/New-boss-shake-Standard-Life-Aberdeen.html
I hear you Scottie - It's an enigma with SLA that I've never fathomed - Share buy backs in America seem to work a treat
Can someone explain to me the reason SLA have bought so many of their own shares? I thought that the benefit to shareholders would mean fewer shares on the market higher SP but this has not been the case. Would it not have been more beneficial to give a special dividend? Agree the takeover has ruined a great company!
SLA have been buying around £2m a week of their own shares for as long as I can remember - the share price still drops
Transactions in own shares
Standard Life Aberdeen plc (the Company) announces today it has purchased the following number 706,041 of its ordinary shares of 1361/63 pence each on the London Stock Exchange through J.P. Morgan Securities plc.
Nice rise today though! Could be on the way back up there seems to be plenty on interest according to the recent RNS's .
Surprised no apparent reaction to the CEO's purchase of half a million shares. Maybe tomorrow?
@the_silver....my thoughts exactly, what would be the shares price of SLA if they hadn’t commenced the share but backs....probably pence and not pounds...the merger between standard life and Aberdeen has been appalling for the share price!!!
:+)
By definition, stock repurchasing allows companies to reinvest in themselves by reducing the number of outstanding shares on the market. ... Buybacks benefit investors by increasing share prices, effectively returning money to shareholders in a tax-efficient manner
Throughout the last two years since they sold off their crown jewels, the steadily-delivering life insurance operation, to Phoenix, my wonder has been how low the price on this would have fallen without the continual share buy backs. Market value of the company as a whole, and its ranking in the lower reaches of the FTSE100, has been shrinking for a long time. Its confident aim of a few years ago of managing £1Trillion in assets is further away now than it was then. I admire Volcano's occasional upbeat postings but time has shown his/her optimism to be built on shaky foundations.
Loads?? Dunno... but I want the SP back over 270! Divi was OK but I want to not be in a loss situation for ages!
How many bloody shares do SLA need to buy back and cancel before it impacts the share price??????
Buy not a sell WHY
Well, today the company put out 16 RNS’s 14 of which showing major company pensions selling down albeit with small %. And yet the SP Is up by over 4%!!
This just showed that all these companies pension funds are not running away from putting their client’s money in such a safe and sound company which is well run and very efficient
Paying good divi and having over 550 billions of funds under management with good fee margins
I am certain the market is now much calmer and the recent 207P was just typical market over reactions which quickly proved impossible to maintain and share price had gained well over 20% in just two weeks
I predict we will very quickly move onto 265-275 range
GLA
Congrats your up notwithstanding the mistake (all too common)
16:25:39 243.8954 12,234 Sell* 243.80 244.00 29.84k
Let's hope so!