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There is an interesting paragraph near the bottom which states 'Operators will not be able to make payments to shareholders, unless the shareholders receiving a payment are directly involved in the day-to-day operation of the company and are being paid in lieu of salary, covering the period in which the operator was in receipt of CBSSG and/or CBSSG Restart funding.'
I believe that there it is in black and white that the dividend has gone. Reading through the text on the terms of the grant, I believe that when it comes to tomorrows results, there will be next to no profits BUT crucially, catastrophic losses will not be there either so other than the sightseeing and Megabus operations, the rest should be insulated from big losses. Maybe the reason for the share price drop is the dividend being cut. If so, not exactly a surprise as GOG cut theirs and FGP don't pay one but the market does like to over exaggerate!
We are right on a major support level, this level has to hold or I fear the worse. let's hope there is good news tomorrow on the back of the results. The move down could have been about trying to get people to sell positions, a bit of a squeeze by the MM.
There is no way they will pay a dividend in the current climate. Think investors would freak out at that. Cannot see how the results will be good but a decent, upbeat review will be welcome. I think SGC has already taken a big hit with First results so don't see how the market hasn't built that factor in for SGC and what the results show tomorrow.
I agree completely about the dividend. No company can be seen to making money out of this (Amazon et all aside). Look at how the supermarkets have been talking down their results.
I posted this on here on 9th July and stand by it.
'I can see them suspending the dividend as it looks like the 'responsible' thing for companies to be seen to do. i.e how can you justify taking government support and then still paying shareholders a dividend?
I haven't got a problem with companies doing that, I would rather they reinvest the funds to make the company stronger. To my knowledge, Ryanair have never paid a dividend as their strategy is exactly that and they are one of, if not the, strongest airline in the UK!'
I do not expect them to be 'hugely upbeat' regardless of the figures. It would simply be irresponsible to be anything other than cautious. I therefore expect the results to be largely down beat.
However, I believe most of the bad news is already priced in to the share. 50p seems to be a very strong floor to the share price; we have bounced off this level several times. My only worry (although I don't expect it) is for some unknown bad news to emerge which would crash us through the 50p support.
For me, the big news will be if they intend to pay the interim dividend in October. I believe market (and my personal) expectation is that they won't. Having taken government help, I cannot see how they could pay a dividend.
Fingers crossed! I think if any public transport company can do it, Stagecoach will be the ones.
I've been thinking hard over the last few days and whilst there will be losses with the sightseeing buses and, especially, Megabus, the rest has been subsidised so there wont be profits but large losses should have been avoided too.
I think that they will report average/grim figures (largely expected) but with a hugely upbeat statement about the last week/couple of weeks as being 'encouraging' for the future.
I'm still nervous, mainly thanks to my losses in GOG (whose results weren't that bad at all).
Have just listened to a podcast uploaded today by the interim managing director....... she seems very upbeat about the way ahead.... so I’ll stick my neck out and say everything looks positive long term
Craig30 " it won't be September until tjings get back to normal" CORRECT THINGS WON'T GET BACK TO NORMAL UNTIL SEPTEMBER 2022!! this is when everyone in the world including sub saharan Africa has been vaccinated. In the meantime, Stagecoach SP will recover from 20p to 50p when the Vaccine becomes available.
Hi Barney, I think the same as you, you will never be able to predict the bottom, all we know is that these shares are low as it is. The company has suspended the shares like you say and it won't be till september until everything starts getting back to normal.
At the moment I don’t care whether the price fluctuates a few pence either way over the next few months.. At the moment I’m in their baye scheme currently suspended because of Covid, hopefully this will return soon... However in the meantime because I wanted these at the lowest price I’ve opened up an ISA solely for stagecoach shares.... only time will tell....
I may even buy some before and after if they do go lower, if you buy now and they go to 40 would you really still be disappointed ?. I am no expert but these shares I would think will be at least a pound in a year or maybe sooner. I don't think anyone judge what the lowest they will go but they already low anyway. Stagecoach are also in a better position than first so I've heard.
Like i said i have a limit buy set, and would not be surprised if we saw a monetary knee jerk drop of anything upto 10% followed by a swift bounce back to about these levels, followed by a hesitant rise, as said, public will be going back to transport more and more
I agree, mediocre results is most likely. Having said that, mediocre is about the best companies can hope for atm - anything north of absolutely shocking is good right now. Not sure how the sp might respond to mediocre results, probably a small rise but I think it'll probably continue to trend up over the coming weeks as more people start using the buses - aimo.
Do you not think the results will be poor but with positive feedback sending the price up ?. I do have a few now but I am debating if I should wait till Weds to buy some more or buy some now in case they do go up.
I think the company will produce mediocre reports this week, I don’t think they will be bad nor good. They have already made some redundancies, not drivers but operational staff. The remaining drivers on furlough around 20% are being brought back. Services and passenger footfall are certainly up at the depot I work at. Children going back to school in September will see buses more or less back to normal as social distancing on buses will be near on impossible then. Plus more parents will also have to go back to work then..