The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Share buy back begins in connection with the scrip issue. See RNS.
lol I web are the worse share dealing service i have ever used
It's the only down side of my broker's account with iWeb ... which is very cheap to run and normally a very good service ... they won't/don't do scrip dividends within their nominee accounts -- which is a pity as if you're of the 'reinvest the divi' mind set (and I tend to be) then you often get a reasonable price for your new shares all things considered.
I do of course tend to reinvest the dividends, but just have to do it manually ... what generally happens is that Company A's dividend gets put into Company B's shares ... Company B's div goes into Company C and so on ... that way the timing is often beneficial.
Mike
LordA, Agreed, thank you for the clarification. I read all the Co news for all elements of my portfolio. It’s part of the fun.
SonOfRobin ... I stand corrected, well partially at least ... the norm is for shares not to be purchased in the market place to replace those created/issued for the scrip dividend ... SSE have taken an unusual route. But only partially ... note that the amount of dividend elected for conversion to the scrip is some £209m and a maximum of only £150m will be expended on the buy back. So we're both right ... more importantly I suspect that we've both acquired some knowledge along the way.
I tend not to look at the fine detail of various companies scrip dividends as my brokerage account doesn't allow the take up of them ... which is a pity on some occasions.
Mike
I can't make up my mind if I should sell... selling to OVO might just be a shrewd move to avoid political governance and concentrate on renewables which will be more pleasing to future governments...
See Scrip Alternative RNS. Divvy shares equivalent will be bought back in the market.
Another blue day, I think.
SonOfRobin ... if you're talking about the shares which are given to share holders in lieu of dividends ... then these shares are 'created' by the company, they aren't bought in the market. Effectively they are created/issued by the company at zero cost to themselves and so there is a cash saving when compared to actually paying out the dividend. The folk who actually pay for them are the exisiting share holders who suffer the share dillution when the new shares are created (or brought out of treasury).
Mike
Norges Bank reducing
For example, utilities would typically have a high gearing ratio but might be considered acceptable since it's a regulated industry. Utilities have a monopoly in their market making their debt less risky than a company with the same debt levels, which operates in a competitive market.
mmmm the only good thing at the moment is the momey they give me and I will get more when it goes DOWN
YES i am getting the div and feed in tariff and a pension :-) and more will come but sse is worth 5.3 billion after the reduction in debt but the debt is 9 billion lol
Price really motoring towards the divvy payment on Friday. No doubt they are getting in shares to give to me when I get mine in shares as they said in the last results.
Free of Retail and debt paid down the price will be over £15,I think, with a great level of divvy in the meantime. On this basis I have upped my holding by 50% on 6/9 and am showing gains of 5%.
Onwards and upwards!
I agree retail energy is a horrible business with strong regulation and political pressure and who-knows who is in No 10 next.
SSE's focus on renewable generation and infrastructure shows some long term vision which will hopefully reap long term rewards.
Yes, the increasing debt levels are a big concern - no doubt IMHO.
Think that they overpaid for a break-even business that is losing customers at a high rate. Good move by SSE to refocus the business into assets that will have good returns. The energy retail market is crazy with retailers selling at a loss. Bulb will mop up many of the SSE customers as they are cheaper than OVO.
SSE have sold their energy services at a crazy give away price. OVO must be laughing all the way to the bank. The asset value alone is nearly £800 million never mind the good will value.