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The dividend should be at the preconsolidation number of shares and not post consolidation.
Which is exactly the same number of shares they told us were on the market in the rns on feb 15th - don’t understand why they had to issue a new rns today?
on market now stands at 7,731,707,820
Thanks for getting the IG update! Sounds like they’ve right proper norsed it up!
Don't panic my equinti still not paid out 40millon buy near end share price 2.26 hopefully it will all kick in and the the price kicks on hopefully we all got our reinvested at a good price good luck all.
IG have said there is an issue with the share allocation and the conversion shouldn't have happened. Some accounts also won't have received it today. It's a problem their end and should be resolved within 24 hours.
Hi lynny, still not got mine have emailed them and see what they say. Feel ripped off if they only giving out dividend payment for number of shares after the consolidation. As it seems and not on the number owned prior.
@phys10 Hi SD still not in account rang IG they say should be in today but not all paid yet. That was about 4.30 Ok
Me too. Why has the Tesco special dividend been converted by 0.71391184? My wife has TESCO shares with Hargreaves Lansdowne and her special dividend was paid in full... no conversions.
The budget will be a non event as regards most prices. Rishi won't upset the apple cart. I am comfortable adding at these levels as the dividend is solid and progressive. Added today. GLA.
DYOR
HTH
None of our lovely BOD's seem to have enough faith in our company to make any director purchases since the debacle of the "Special Dividend", there hasn't been one purchase. In fact the only transaction of interest was a director selling £223K's worth in early Feb. This IMO speaks volumes sadly. I'll be joining them all & won't be re-investing my 3K either, there rant over!!
With the budget coming up maybe supermarkets could get hit, Tesco already given back the tax relief, even though the costs for Covid outway that figure and still counting for so called “covid” related absences. The share consolidation was supposed to keep the share price at pre-dividend highs, but that’s dropped approximately 25p due to the stock market. I’ll wait till after Wednesday before I buy back in, this could dive.
Rock
Maybe institutions that sold in order to avoid tax on the SD are buying back. One thing for certain, they will try and buy back at a price lower than they sold at.
Hi guys, I'm on IG, my SD just came through but it's lower than I thought: Tesco PLC DIVIDEND (no of shares)@0.5093 Converted at 0.71391184
What's the reason for the conversion to give 71% of what I thought was coming?
I'm on IG, mine just came through but it's lower than I thought: Tesco PLC DIVIDEND (no of shares)@0.5093 Converted at 0.71391184
What's the reason for the conversion to give 71% of what I thought was coming?
I'm on IG. Came through on my dashboard about half an hour ago (Monday 1st March 14:30 ish).
something not right here vol sold 6m volume bought 60m
I think its risk on so maybe that's why my tesco and morrisons shares being less risky are doing less well. The other posts are probably right as well but when you boil it down that's how I see it. In my opinion. Good luck everybody.
Tesco management look to have a nice approach to adding shareholder value. Spare cash used to reduce the float of the shares making future EPS growth excel by 20%. They are basically giving the money back to the shareholders and hoping they repurchase boosting the share price even more. I see this pull back as being healthy, higher lows and higher highs to come. (that means weve had a 25% jump then a 10% pull back, then hopefully another 25% charge upwards to 280p ish.
IWEB auto reinvested mine this morning
I think many investors getting caught up in the SD missed the other topics on the agenda at the GM. One of them being voting for buying their own shares back.
Ordinary trades are going through, majority being purchases but the algo trades are manipulating the price lower. You have to ask yourself why they are there. Surprised we have not any holdings RNS in the last couple of weeks.
I see they're just about to open a London grocery store with no tills and where tech handles all payments from your account using an app. Might the legendary retail ravager be a threat longer term to Tesco?
Re invested mine here today every faith this will be well rewarded on divis and growth.
'Maybe Tesco expected more to reinvest their divi'
Think the SD's are being reinvested .. 15 buys for every sell and the price keeps falling ??
If you buy shares you have to understand that they can go down. Just because you have more shares it does not mean you have more money. Most companies share price drops after a dividend payment as the market understands where the money has come from. If you’ve bought back recently then you have obviously bought more shares at a lower price.
However, this was dressed up as a huge payout to shareholders and I can understand why people are upset and confused.
Maybe Tesco expected more to reinvest their divi a d not take the cash?