If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Chuckle bro for FM. "Me to you , you to me "
Moving up nicely. Good start to the week now the ii's are buying. Our trading accounts are breathing a bit easier these days. GLA. A divi will likely attract the ii's on board for longer. Better than treasury bonds interest for those pension funds. GLA
Bloo
Firstly there is no way we are going to get UKEF funding - that boat has sailed. Secondly UKEF is focussed on developing UK exports and to provide gap funding for investments that are at the higher end of the risk range for commercial bankers . Investing companies are still expected to provide equity contribution to project and UKEF is not funding for failing companies. The dividend policy of companies is not a restriction or requirement of UKEF as long as company is funding the equity element of the project, which for O&G would normally be 30-40% of project costs.
Why would UKEF lend money to a Company that then pays out dividends .... doesn't make sense.
SK - you make me chuckle.
As strong a commitment as you will get from any Board as dividends are always subject to Board and Shareholder approval. They legally can not say WILL.
The core purpose of Harbour is to return cash to the mothership via dividends.
SK
Extract from prospectus below
“The Combined Group is expected to generate sufficient free cash flow to support shareholder returns including via a sustainable dividend which, subject to market conditions and Board approval, is expected to be introduced with respect to the financial year ending December 2021.”
My expectation is that they will pay a relatively small interim dividend on back of half year results (say 0.5p pe share) in October 21 and a final dividend for 2021 of 2p on approval of 2021 results in March 2022 with dividends paid in May 2022 after AGM.
If I was a betting man (which I am am or I would have walked away from PMO many years ago) Harbour will pay an interim dividend on the back of the June half year results, which will be published late July/early August. The interim dividend will be paid in November and I am guessing an interim dividend of 0.5p per share, with the final 2021 dividend declared in early March and payable in April 2022 at 2p per share.
All guesswork but I would be surprised if I am too far out. They might even announce something progressive like US shale companies who have agreed to pay variable dividends linked to oil price.
SK
The commitment to pay dividends is much stronger. The presentation by Harbour and Linda Cook was very clear that their intent was to start paying dividends in 2021. She referenced their Norwegian peers (Aker BP and Lundin) who pay a high dividend yield and that providing shareholder a dividend yield was a key objective and attraction for investors in Harbour. Linda was legally obliged to caveat that dividends are subject to Board approval and trading conditions. Prospectus documents are always relatively uncommitted re future actions. But you can bet your bottom dollar that the charm offensive going on at the moment with institutional investors will be committing to a level 0f dividends. Even shale producers are now paying dividends!
The enlarged business will be kicking off $300m per month at these oil prices which is way above their investment needs.
Saur, dont forget the suspectus is a legal document and poured overby the legal eagles esp those in US.So they would have struck out any reference to divis "WILL" be paid and softened that to" MAY. " Their owners EIG will want their divis as principal shareholders to start getting thier money back and to re invest elsewhere. I think divis will paid out pretty quickly and as soon as 2022. No problem
Where people get this information about dividends being payed if so how much they paying and is it quarterly or annually?