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I'd been waiting for the 3.01 gap to close and ended up cashing out at 3.06, still have another £947 coming in at the end of the month via the dividend.
This is still just 30p in pre-consolidation terms so in my opinion a long way to go as the Government continue to reduce their holding.
BC
Sterguson91 - I have just one comment on your explanation. The assets of the company are reduced but with fewer shares the amount of money paid in dividends gets to more per share (unfortunately bonuses will also rise).
Also is the money is from cash earned then in future that money given the same earnings can be used for growth, investment and larger dividends.
So there are plus sides to the share buy back.
I’ve just sold my holding I bought at an average of 212p in mid Feb. Concerned about the PCE US inflation number at 1:30pm today and the knock on to the FED interest rate dot plots next Monday / Tuesday. If US 10 year yields hit 5% the US market may tank. May be back if things get ugly
Gap watch NWG - 289.9p gap closed today
Bunch of very ugly lower gaps out there - all just a few months old - have to wonder what could happen to get them filled - HMG sell off this summer?
2nd-3rd Nov 23 - 182.35p
20th-21st Mar 24 - 246.6p
21st-22nd Mar 24 - 253.8p
27th-28th Mar 24 - 263.1p
9th-10th Mar 23 - 289.9p - Closed today
23rd-24th Feb 11 - 471p
11th-12th Dec 08 - 648p
Based on LSE tech chart --- https://www.investopedia.com/articles/trading/05/playinggaps.asp --- https://allstarcharts.com/gaps-need-filled/
Still a cheap share IMO with that PE and dividend cover.
Looks like it will be a 5-10% day here.
Looks like might be happening
Profit 10% more than analysts expectation.
Not much in the news yet, better than expected
Hope is looking like it's not needed.
Lets hope NWG gets their Barclays moment tomorrow.
OLR - my answer on Barc board also relates to NWG
Asp
Same answer as the Barclays board.
Yeah, the dates seem cherry picked and are noise rather than signal.
The share buyback will mean we get a larger stake in the company and a higher return on future dividends.
All in all, positive for NWG and us.
Some price gaps in the chart, some people think they always get filled, likely do after a big move but doubt these tiny little ones will, hopefully just positive moves to the upside and more likely (hopefully) that it holds above the consolidation and price break above the 256 and 280 mark
What's this random bunch of dates showing?
Gap watch NWG - Ooo, so close to closing the 289.9p gap today
Bunch of very ugly lower gaps out there - all just a few months old - have to wonder what could happen to get them filled - Same situation on the Barc chart
2nd-3rd Nov 23 - 182.35p
20th-21st Mar 24 - 246.6p
21st-22nd Mar 24 - 253.8p
27th-28th Mar 24 - 263.1p
9th-10th Mar 23 - 289.9p
23rd-24th Feb 11 - 471p
11th-12th Dec 08 - 648p
Many thanks. Well explained. 👍
Erebooni,
The 15% stake relates to the total market capitalisation., therefore this would reduce HMTs share by about half (as they currently own around 30% of market cap). However as these shares are then cancelled this actually does a couple of things - it reduces the share count by the same amount, effectively negating the (full) impact. Also it reduces the assets of the company by the same amount.
Ultimately as a current shareholder your overall share of the company goes up slightly, but the business is technically worth less (as they have spent money that doesn't increase the asset base).
In practice what this means is you shouldn't be worse off - however what it does is improve investor sentiment, which means people are willing to pay more for each share.
I'll be glad once all of the shares are repurchased, at this point we will see the true impact of where we are.
Scrap my queries - I have found all the answers I was looking for - Preference Shares of Natwest are 134p (Ticker: NWBD.L) if anyone also wanted to know what they are.
GLA & ATB
Scrap my queries - I have found them - Prefer
In today's NWG meeting it is mentioned that Natwest intend to buy back 15% of Government owned shares.
In an article it has been mentioned:
"The government currently holds a stake of just under 30 per cent in Natwest, worth some £7.46bn."
It then says:
"Based on Natwest’s current market capitalisation, a 15 percentage point haircut would reduce the government’s stake by roughly £3.75bn."
Thats nearly 50% of government stake not 15%. Or have I got the wrong end of the stick?
https://www.cityam.com/natwest-shareholders-approve-proposal-to-buy-back-15-per-cent-of-governments-stake/
Hi all,
Is there a Dividend Payment on 29th April 2024?
If so, from the RNS today - is there additional payment to be paid out to shareholders end of May.
“ DIVIDENDS ON 11 PER CENT AND 5.5 PER CENT CUMULATIVE PREFERENCE SHARES FOR THE HALF YEAR TO 31 MARCH 2024
“The Directors have declared half-yearly dividends on the 11 per cent and the 5.5 per cent cumulative preference shares. Unless otherwise resolved by the Board, the dividends will be paid on 31 May 2024 at the rate of 5.5 per cent and 2.75 per cent respectively, and will be paid to those preference shareholders on the register at the close of business on 2 May 2024.”
Also, how do you acquire preference shares? To become a preference shareholder?
Genuine queries as never held any bank shares before other than these at recent lows.
TIA.
Https://www.investegate.co.uk/announcement/rns/natwest-group--nwg/agm-statement/8152033