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Gutted
20% drop???
Don't know what you're talking about
Results broadly in line with expectations it would seem!
Awful results -expecting a 20% fall in sp today. Outlook unspectacular and am wondering which UK companies are good at investment management?
Final Dividend halved to 7.3p
Gary
See the MAO3 thread message below.
That's very informative from the SLA website and far more educated than my 2p worth !
Tks for the response. I had accrued a 12 p as a provisional payout which concurs with your reasoned post. I had forgotten about the sale of the Indian biz windfall, and as there is no compensating sale in H2 , plus if AUM have continued a downward trend, then we would need some increased margin type news to bring the net to level where they can pay out a progressive div.
Gary,
This was taken from the H1 Results RNS 7/8/20. (see below my coments)
I would not be surprised for some cut back, as the business suffered a drop in AUM in H1, but maintained the divi thanks to sale of Indian business for approx £500m.
The current yield is around 7% which is probably not sustainable. Markets got a boost from Vaccine News in Q4 so hopefully SLA has invested well. We also have a new CEO as Skeoch retired after thos results. Share buybacks continued but I hate those as money down the grid IMO. Wish they would pay a one-off special divi like RIO or MRW if they have surplus cash. IMO, buybacks just say "Management does not know how to spend the money we have left over !" .
Cheers - CSDI
The Board is committed to delivering a dividend that is sustainable over the medium term. At this point in time, our operating performance together with the strength and quality of our balance sheet have enabled the Board to maintain our interim dividend at 7.3p. We also plan to complete the existing £400m share buyback programme (which is 55% complete) during the second half of the year.
I have not been following too closely posts, press with regards divi prospects fro next Tuesday .
Last 2 x years have yielded 7.30 Interim and 14.30 final. Does 14.30 or thereabouts appear to be the consensus ?