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Possibly yes :)
Updates around that time point to the company reinvesting cash flows into resource expansion and discovery drilling at Asacha Gold Mine. We also had a bad Q419.
If I recall, we took quite a hit when the company downgraded resources at the mine and this change in strategy was in response to that. Since then we have seen world class drilling results and an increase in reserves which only includes those results up to April.
https://www.lse.co.uk/rns/TSG/mineral-resource-update-bsgv6ji0gveg2te.html
Ah, so it was Jan 2019. Thanks shareminator. I didn't think it was so recent. So I bought in Dec 2019 and was then disappointed in January 2020.
Let's hope 2021 brings delight for all TSG holders.
* Ignore Nov 2017
Yes I remember feeling the same way at the time. I think the special dividend in late 2017 / early 2018 was suspended due to the company's buy back of shares from an institutional investor at around 35p per share. I can't remember the precise details or date of announcement though but it did have a short-term impact on cashflow. I don't know of anything that would affect cash-flow like that at the moment with gold trading at $1900/oz for most of the quarter.
Nov 2016 - special interim dividend of 5 US$0.05 / US$5.5 million
Nov 2017 - special interim dividend of 5 US$0.05 / US$5.5 million
Jan 2019 - special interim dividend of US$0.052 / US$5.7 million
I do hope we get a special dividend. The reason I'm so circumspect on that issue is that after the last special dividend, was it Jan 2018? Anyway, it was one January, so in December that year I bought a load more TSG to catch the next special div the following January - and they didn't have one. Don't count your chickens, as they say.
Total Shareholder Return is today 1.10 (1.04 + div .06) so they need to get the SP up to 1.50 or pay 40p more in dividends or both increase the SP and pay some div. This is so investable and it looks like a straight line up from here. Here's the main bits ;
Under the terms of the Scheme, the awards are subject to various vesting criteria.
Half of the Non-Employee LTIP Awards will vest based on absolute Total Shareholder Return ("TSR") performance measured over a 3-year period, with 25% vesting for a closing TSR of £1.09 rising on a straight-line basis to 100% vesting for a closing TSR of £1.50, or will be banked (but will not vest until the end of the 3-year period) if TSR is £1.50 or above for 30 continuous days at any point during the period. The absolute TSR targets have been set to be consistent with the LTIP awards granted to Executive Directors on 5 June 2020, as detailed in the RNS announcement dated 8 June 2020.
Holders of these awards will only accrue value in the event that the Company's shareholders receive value and return over the time period through a combination of share price appreciation and potential distributions of capital, thereby aligning the interests of the grantees with those of all Shareholders.
If a special dividend is to be paid it will likely come towards the end of November similar to the 2016 special dividend.
https://www.lse.co.uk/rns/TSG/special-dividend-bfknhfwby9nbv7g.html
Back in the spring I suggested to a 'pal' of mine he take a look at this Co. Now, Dave the share guru, laughed and said he wouldn't stick a pound in any co with Trans in its name let alone a gold miner. He said I was mad. Dave the mentor to all regarding trading stuck a pile into PMO. Hope he went short!
This is a blinder of a Co and it probably isn't you normal Russian venture.
I think you have a thing about dividends too - looking up all that, but I recall in one of the company's announcements, they talked of increasing shareholder value and it was a two-pronged tactic - an increasing dividend and (these are my words as I can't remember the exact phrase they used) spending money on developing the company to push up the share price. Why didn't you copy and paste that bit?
I agree with you that this is a great company and it is committed to shareholder returns.
I hope you are right arttrader, about an increase in the dividend and I think you most probably will be. I want a bigger payout and I think it is very likely, so I'm not trying to start an argument, but it's not 100% certain that we will get a special dividend.
TSG has got a thing about DIVIDENDS
· Interim dividend of $7 million resulting in payment of $0.08 per share (H1 2019: $2.0 million resulting in payment of $0.023 per share)
· Largest single dividend payment made to date in the Company's history; total capital returned to shareholders $40m*
· Upgraded dividend guidance for the full year to be announced shortly
.We are pleased to declare our largest single dividend payment ever and maintain our objective of delivering attractive returns to shareholders.
.Interim Dividend
The Company has a proven track record of returning capital to its shareholders.
.For 2020, TSG set out to pay a base level of dividends of approximately $3 million.
.The Company is pleased to report that the Board has declared an interim 2020 dividend of 8.0 US cents per share equal to approximately $7 million (H1 2019: $2.0 million).
.Given the strength of the operational performance and favourable trading environment, the Board is confident in the expected cash generation in H2 2020. Having already exceeded the stated guidance for dividends for FY2020, the Company is reviewing its anticipated financial performance for H2 2020 and will provide further guidance for a revised base case of dividends in due course.
Reading between the lines I'm thinking Special then Final dividend
I didn't see that one.
I read - "Interim Results for the six months ended 30 June 2020" and in there, it said - "will provide further guidance for a revised base case of dividends in due course".
Upgraded dividend guidance for the full year to be announced shortly unquote
Note it says UPGRADED .......it’s going up
They’ll wait until they have October’s figures which I believe are outstanding and chuck in another$5m
They are the only miner I have that just stick to the job of making money.
My mistake - they didn't say October, they just said "in due course".
We've been waiting since September to hear what the revised dividend policy will be.
They did October, didn't they? I still think there is chance that they will say no more special dividends, as the money will be better spent on drilling and speeding up the plans for growth.
Great for the long term, not so good for those seeking income.
I hope I am wrong.