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I was wrong to doubt!... hold the line!!!
Been in and out but last was a relatively small buy ages ago (13k£) @22p, but happy to be in profit today, hooray for pmo
GLA
Congratulations to all the LTH.
JUST BUY & HOLD!
Dividend nailed on with oil price to this level. The presentation by Linda Cook could not have been more positive about a dividend but stated that it needs to be approved by the new board once formed. Newco needs $1 bliion per year investment to maintain North Sea production at 200k barrels a FY for the foreseeable future. The combined business is forecasting to generate $2.3b of cash flow in 2020 and 2021 will be more like $3b of free cash flow at current Brent. Interest of $150m per year and minimal tax to pay, there will be a lot of headroom to pay dividends. My forecast is 2p per share for 2021 which will be about $500m and will be announced with half year results.
Once HE goes live, they will issue an rns by way of trading update early april ad the newly combined group and an announcement of divi to boost investor confidence .
The most recent presentation says “expectation to initiate a dividend for full year 2021
Page 27
https://www.premier-oil.com/sites/default/files/files/201217-analyst-presentation_0.pdf
Oh yes it is (it's behind you) a "realistic" possibility.
Considerations:
1. The company has stated it (dividends) as an aspiration.
2. Entry into 250 then 100?
3. Paying dividends would therefore securing larger institutional investors and aid maintaining existing.
4. The company is not PMO. So we have to move on from that companies mistakes.
Out of curiosity SK; what are you basing your rejection on?
Rgds Sft
I think this is what EIG group will want, divis from thier substantial investment / shareholding , so yes it is on the cards .
there is no guarantee of dividend but in the Prospectus they mentioned that the combined group can generate significant free cash flow to support shareholder returns via dividendss so dividend is "on" the cards!
Prospectus mentioned about dividend for 2021 and don't think TLW are in a position to give dividends even if oil is at $80
If dividend can be announced before April 1st then that can do wonders to our SP but I believe they can't do it without publishing their accounts?