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A few months ago house broker Liberum issued a note hinting that an absolutely monster dividend would be paid by SLP this year.
Then, a few days ago, in an updated note, they suggested the dividend will be exactly 5.8 US cents (i.e. about 4.5p).
I'd suggest that Liberum were briefed (told off?) by the company after the first note, and that the new corrected figure will be the actual dividend that will be declared in 3 weeks' time.
4.5p is hardly a bad dividend, considering the current share price(!). But it does raise the question of what Sylvania are going to do with the rest of their huge cash pile. They are not a bank, so, after putting aside a reasonable rainy day fund, (IMO) they should either use the money for expansion or pay it out to shareholders in dividends or buybacks.
I'd also like to see a clear dividend policy with a formula for payouts for the future. And maybe splitting future dividends into an interim and final payment as well.
Still, these are all nice problems for a company to have. Especially in times like these.
Goog analysis Velo, appreciated. Much in line with my own thoughts. Like you, i wish the media hadn't gone all in on the large divi PR.
What I find hard to get my head around, is the fact it was libereum that spoke the first word here, and they're 'employed' by SLP. Which makes me wonder their speculation must have come from sonewhere? The unfortunate thing is, Terry left, and it may have been him signing off (if at all) and broker notes suggesting such a large divi. Now there's a new sheriff in town we just cannot be sure...
" Trends all st "
Oops internet bandwidth . . . .
" Trends all still very bullish. If they could speak to me they'd be saying:
Shut up! Sit down. Sit back - and let me continue delivering my job description for a bullish uptrend. "
" . . . The results will be interesting. Traditionally SLP has dropped down a touch on sterling results for it to only then move higher in it's own time. I liken SLP to a cat. It does what it wants when it wants. :) . . . "
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Spot on Stoodio! - You're reading my mind again : )
Just what I'm wrestling with at the moment.
I'm actually going back and checking manually but seen enough after just 3 years - the 5 year pattern is there - a terrific rise in the SP every August - followed by a swift decline in September, after sight of the (normally) excellent results.
So was actually checking what the esoteric fun-only seasonal cycles charts throw up, and thank you for confirming that with your own living-through-it-over-the-years-first-hand-experience.
(Incidentally due to confusion over August starting dates I'm now revising my 'seasonal cycles' expectations for end of August SP to vary between 57-59p, with literally meanwhile, anything in between, meantime).
Many SLP holders it would seem, appear to take profits on publication of the annual results. What?!?
Yes, it's true; that' s been the case for some years.
But,
- for the first time there's maybe a mega divi to be paid out - will that fact break the pattern?
- It's that, that I'm wrestling with. And what if the results advise of even more divis to come in future results?
Can't leave it to the last minute and decide on the day. Need two decisions in advance, pre-thought out.
The first involves good results and no big dividend, the second involves good results and a big divi pay out.
If a big divi is announced, will have to see if it's truly mega and thus maybe ditch my strategy and hold all the way through the anticipated quiet autumn and Xmas period, until the potentially good months commence early next year (seasonal cycles).
No big divi and I do what a large SLP proportion do every year and sell on the results (Usually first few days of September before the results, the SP is still continuing to rise).
So, two weeks left of this month, so what next?
I'm expecting an unrelenting rising SP throughout August. Of course like the other day, with the odd mini pullback. I'm loving the close on Friday - lovely profit to see.
However, won't be at all surprised to see another short-lived pull back next week, before the August effect re-continues. So a continuance looks likely because of historic August performance, but interspersed with a few nerves on the way to the month's close. Might take the odd top-slice on the way to the results, if large enough SP gain, but then again a sizeable divi could make me regret that. A big divi could upset the apple cart good and proper, so the annual exodus of holders after results day in Sept potentially means, shouldn't take recent history for granted.
Wish there wasn't media speculation of a sizeable divi - as would know with absolute certainty and conviction what actions to take.
Trends all st
Anyway I see this share being realise for its true SP soon, happy weekend time for red wine and AC/DC!
I did mean "Traditionally SLP has dropped down a touch on sterling results" it is like a set pattern!
I'm not sure we be dropping anything significantly from here bud in the run up to year end.
Velo, you got a view? We have consolidated quite nicely around the 50-52p mark for some time now and as we draw closer to September I'm only seeing this crawl higher and higher... The results will be interesting. Traditionally SLP has dropped down a touch on sterling results for it to only then move higher in it's own time. I liken SLP to a cat. It does what it wants when it wants. :)
However, SLP has continued to STFU and get on with thing in a professional and dignified manner, so if they do choose to issue another dividend, a few good write-ups... i see no reason why this doesn't continue on it's path up and above fair value of minimum 83p.