Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Boyo - you are absolutely right. Not just zero, but pre-9.00 am well below zero. A great buying opportunity & this morning I am well ahead on it, but I am p...sed off that it has harmed my overall batting average!
I could do with share prices to stay low till august as I have access to a £10k stash.
How RDS’ sp moved yesterday against Brent, BP and Chevron:
https://invst.ly/v7h4b
Apparent reaction to ‘Payment Day’ outflow (anticipated by the market some weeks previously): zero
Not much to see today was there? Phew!
BP and RDS both opened about 2% down from Friday’s close - chasing Chevron which had dropped 1.9% on the US market after London closed on Friday. RDS then led BP for much of the day but BP and Chevron overtook it after the US market opened. All of them lagging Brent, which in deepest Kazakhstan - as indeed it is anywhere trading on ICE - is knocking on the $75 door again ($74.85 when I last looked). Disappointing to see RDS close just level with Friday’s close, although I guess it could've been much worse.
I'd love to post a snapshot of all this but Investing.com 's sharing facility isn't working tonight (all data from that site).
Never sell Shell, I agree, except when you can make money by it.
I think we follow the optional nature of interim dividend, so getafgrip, get a f grip.
On this site I saw disruptive posting on a menu of Reporting reasons: didn't know what it meant (then).
We seem to agree that "the share price is sensitive to movements in the net book value" but we do not agree over whether a $1billion reduction in NBV in terms of the Interim Dividend actually going out of the door, has an impact on the capitalisation/share price.
Implying that someone does not know the difference between NBV and Capitalisation or cost and value is an odd way to progress a discussion. I agree with NSS.
Here we go again….
Yes the net book value of a business is not impacted by the current share price/market capitalisation movements of the same business, except at the point when shares are sold by the business to fund it. Of course the opposite is that the share price is sensitive to movements in the net book value.
The share price of a company could double but the NBV remains the same. You have to understand the difference between cost and value.
So you are saying that Net Book Value is not share price sensitive!
I shudder to think that an investor doesn't understand the difference between net book value and market capitalisation/the share price.
$1 billion leaving the bank account impacts the net book value of the business on the day of the transaction however it impacts the market capitalisation/share price on the day it is announced and then again on the day it goes ex dividend. The actual payment date has a negligible impact on the share price, except for investors who are reinvesting their dividends potentially driving up the demand.
RDSB Share Price on Dividend Payment Day
The Journal entry, which provides the basis of the reporting balance sheet, on the declaration of a dividend, is a decrease (debit) to Retained Earnings (which is a shareholders equity account) and an increase (credit) to Cash Dividends Payable (Accrued Dividends which is a liability account).
At this point no funds have left the company, but they are allocated as a future liability.
On the actual day of payment of the dividend the Cash Dividends Payable Account is debited & the Cash Account is also reduced with a debit entry of, for purposes of illustration, $1billion.
The point of this detail is that Shell does not have a legal obligation to pay out this Interim Dividend of $1billion. If an emergency need for funds crops up, Shell can call on these funds and until the day it goes out of the door it is not absolutely guaranteed to do so. Granted though that payment will probably happen, and generally does uneventfully & seamlessly. It should be noted that all of the RDSB dividend payments are Interim Payments. They are paid without the necessity for shareholder approval, which is a legal requisite with the Final Dividend.
One of the advantages of this policy is that the company literally has a “call” on $1billion from the date of declaration of the dividend to the point of actual payment. A potential “emergency fund” of this magnitude has a value & can and often does change the share price once it is paid out and no longer available. At the point of payment of the dividend the company’s balance sheet reduces in size as assets and shareholders equity are reduced – $1billion in cash exits the business, directly recorded in the Cash Flow Statement.
Anyone who has access to $1billion for say 6-weeks & considers this irrelevant and of no value whatsoever is probably a very wealthy individual or simply incapable of joining up the dots. I shudder to think that an investor can consider and inform others, that the point at which $1billion in cash leaves the business & the balance sheet is $1billion smaller is irrelevant, not significant in any way, and incapable of impacting the share price. Having a call on $1billion has no value – really!!! $1billion exiting the balance sheet and making it that much smaller is “irrelevant” – really!!!
Worth noting the RDSB share price last Friday & first thing today, I took advantage of my predicted buying opportunity this morning & I hope there are others who have done the same. Unless oil prices fall off a cliff we are looking at a steady & then significant rise in the share price towards the 29th July & then the 12th August, against the background of starting to turn back the tide of the panicdemic. Almost totally predictable plain sailing