Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Whilst that maybe true, there are still a number of FTSE 100 companies and sectors that are hugely undervalued in comparison to RMG.
New investors will likely be people chasing dividend income rather than capital growth and that is why the RNS is perfect timing because it now creates additional speculation in the lead up to results about the possibility of a future dividend announcement.
A 15p dividend represents 3% @ £5 a share but 6 % for those who bought in below £2.50 which would likely prevent those existing holders from selling, but it's also unlikely to attract an avalanche of new investors, especially with other undervalued sectors on the verge of recovering when the economy reopens.
A no dividend policy would at this stage spark a sell-off IMO, even though that would actually be the best thing the company could do in the short-term.
Anyone hoping to get in at a much lower price are going to struggle now.
Perfect timing.
The price briefly retested 4.88 again, just like it did on the 15th of February.
Now it's just a question of whether they reinstate the dividend or use the money to fund future growth, personally I think they will reinstate the dividend to satisfy the key shareholder, namely DK
I wonder if a dividend reinstatement is more likely now with revised forcast
Shaun. Thanks for asking, rather selfishly I reply "I'm all right Jack" never complacent though and fully aware of the trials of others.
As for share price it's natural to want a payback for the problems and dodgy dealings we have suffered here. I would be wary of an over abundance of greed. Don't forget there are those well practiced in the art of emptying others pockets. Best to set your sell price a little lower than usual. Unfortunately history does have a habit of repeating itself when others don't learn by their mistakes. Very best wishes to the many decent individuals here.
Mike the previous policy was to give an increasing level of dividend each year (I.e progressive), this took money out of the company which could have been invested in growth and productivity which would have improved the value of the business and hence the share price. Instead investment slowed, tensions with the work force expanded, profits declined, significant borrowing followed and the value of the company and the shares dropped significantly.
Clearly that wasn’t all down to the dividend policy, but it did play a part.
@Hiveo - Can you explain what you mean by the ''previous progressive dividend policy just contributed to the share price falling like a rock''.
(genuine question, not disputing your claim, just don't understand how that could be the case)
Eric shouldn’t laugh but nearly spat my wine out with that one.
Letters have been alot heavier last couple of weeks. Even the leaflets have picked up, 2 funeral director leaflets last week! Corona working it's magic!
RedCEO. While I remember mate hope you are good. Hoping I’ve not missed my chance and been too greedy here. Greed has always consumed my share dealing. When it was low £1’s I would have sold for £2 quid. Gets to £2 quid it’s moved to £2.50. Gets to £2.50 it goes to £3 quid and so on and so on. I have £5 as my new £2. Fingers crossed it hangs around these figures.
Thoughts on letter volume increasing once things return to normal? Company’s fishing for business? Two letters/advertising thingymebobs from Sky today. At the same time I realised I hadn’t had a posted bill from the gas and electric company for over 6 months. Called them. Oh we’ve gone to email bills. We can post them but it will cost you. 2 letters from Nationwide yesterday too. Seems some companies are better than others.
I would much prefer that they invested in securing growth in the business than giving out dividends. Growth is driving the increase in the share price, the previous progressive dividend policy just contributed to the share price falling like a rock.
https://www.express.co.uk/life-style/life/1403458/royal-mail-post-parcel-weekend-service-delays-changes-full-list
Mentions parcel levels still high.
Miracles sometimes do happen lol
Would that be rumours of a "Special" dividend?
I have always anticipated the likelihood of some sort of dividend being reinstated in the very near future and then being paid out come August...but 30 pence?
Doubtful. Not unless it is a one-off (Special) dividend.