Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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re the rns today is debt refinacing good if can be done at better rates ? Not sure why the drop ?
Decided to diversify my ISA portfolio and having read a very positive artiicle in the Investor Chronicle a few weeks ago made a small investment of 1009 shares. A 6% dividend paid in quarterly payments was a major influence. Now up to 64 dividend payment days.... and counting.
Debt only a problem here if you don’t understand it. (1) Cashflows are incredibly stable and predictable and (2) most debt is asset finance and not linked to the parent company.
Debt
Cant understand why this share is not doing better. Good profits and four dividends a year fully covered. Any thoughts ?
ContourGlobal's chairman said the company's shares were undervalued as he stuck to the company's target of a 10% increase in the annual dividend. In a statement presented at the company's annual general meeting Craig Huff said the performance of ContourGlobal's shares was disappointing and did not capture the company's true value.
Huff said the company was returning capital to shareholders through share buybacks and selling minority stakes in its assets to reflect the gap between the value of those assets and ContourGlobal's share price. The company plans to pay out $108m (£88m) in dividends this year, a 10% increase, he added. "As set out in my letter in the annual report, the performance of the company's share price has been disappointing and is not reflective of the performance of the business, or of the company's intrinsic value," Huff said. "Since listing, we have returned over $227m to shareholders. We maintain our target of a 10% increase in annual dividends."
Huff said the company had only suffered minimal disruption because of Covid-19. He said ContourGlobal's strength was reflected in Standard & Poor's upgrade on its debt issuer rating to BB from BB-.
The company is unlikely to go ahead with the proposed sale of its Brazilian assets because of the weak real, he said.
ContourGlobal has bought back £5.5m of shares as part of a £30m buyback plan announced in April.