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“The CEO Nick used to run the accounts, has been with the company a long time“
This doesnt really explain the role of the CFO in a large listed company, the CFO should be the right hand person of the CEO and is deeply integrated within the management team in every aspect of strategy and operations.
However the characteristics and attributes of a CEO and CFO are completely different, in my view few CFOs have the ability to make this move especially late in their career.
A new ceo for the next operational/ growth phase is all thats required to lift the SP imo.
Financial engineering has been done. Dont need 2 cfo's margherita and nick.
Covid opening will lift footfall/ mobility and away we go?
“The CEO Nick used to run the accounts, has been with the company a long time“
That’s exactly the problem with VOD. Compare the backgrounds of VOD and BT CEOs. One is an entrepreneur and the other is a bean counter.
Finderskeepers ,well good luck with that one, I am waiting very patiently to get my £2 back, I hope your right of course, just wondering how long I will have to wait, fingers crossed though
I think the comments about vodaphone being mature and just paying a dividend to keep people interested are somewhat misguided, and there is no reason to believe divi will be cancelled anytime soon either, so why speculate. The business has been plodding along and has been out of favour for sometime, but it is still a powerful brand with a strong network and contacts; we are entering the era of 5g, and the international reach of vodaphone gives reason to believe there is still growth and a chance for the company to reinvent itself. The CEO Nick used to run the accounts, has been with the company a long time, and I have confidence that at these prices it is a reasonable business case.
sidi. I think you will get your 132.74 back soon. I am just lucky I didn't have a lot of spare money yesterday,because I thought the sp would go up today. Lucky me? I've only lost £***** today! But it could have been worse. I still plan to top up soon though.
mole_man. "Nothing wrong with paying a divi if it is truly excess capitol" 100% agree, I think it would be good if that was mandatory! Not enforceable though! A divi should always be excess capitol or profit. A company should always primarily sustain or increase its n.a.v. & share price, & then pay a divi with what's left over. But back in the real world??
I'm sure if they did cancel the div it would come with a drop in the SP as a large chunk of the shareholder base must be in it for the div and will move on. AT&T just halved their div today and the stock came off 5%. Not a disaster but it shows what may happen.
Nothing wrong with paying a div if it is truly excess capital and it's a tax efficient way to return it to shareholders. For VOD, the capital is not excess I think.
Making the matter worse, I topped up another £20k @132.74p, what a double whammy!!.....
Also lost the SP prediction competition to robleo too.......lol
Dan. you best wait for mole man, to see what he has to say, he's the expert on that sort of thing, can only tell you from what i am personally experiencing , Lloyds growing fast at the moment. and if it continues will soon double from its lower prices and also bringing back dividends, on the other end lgen is paying good dividend and has done so all through the pandemic, has also come back to its pre pandemic price, think vod will improve and hopefully get back to the £2 it owes me, but looks like its going to take a while, so happy to hold as long as it keeps paying dividend
I have a lot worse saga has stopped paying dividend and about 60% down
only my opinion, i know I don't know much about this stuff
hope we get a bounce back tomorrow
sidi.. I think he (the shamed amigo)has gone in to hiding? But we miss him though?! After all he is just Human? We forgive him!
fleccy. The BT share price. Come on give us a break? Do you really think it is as simple as that. Where not all that stupid.. Far more complex than that, but perhaps you are just jesting ehh? Come on fleccy you know better, or at least you should do by now?
"If vod axed it's divi so it could either pay off debt,or invest in some of the things you are suggesting, would the share price drop like a stone as suggested, or something else? "
A look at what happened to BT's share price, when they axed the Divi, answers the question.
Gosh, what a disaster! Thousands and thousands of £ were down the drain today, oh dear! Kill me now!
Will there be a chance for a rebound tomorrow? I guess this has all to do with our amigo CSDI and his horrible curse(only joking of course)......lol
Hi robleo. I personally don't think vod should stop paying a divi, but if it did,it could use that money to invest for growth. mole thinks vod should invest. I don't know. As for staying invested, if vod pays no divi its share price should increase by the amount it would have paid out in divi's, so that is a good reason to stay invested. As I have said many times,the divi comes straight out of the sp on ex divi date.
sorry dan it went through before i finished
continuation
it then removes the dividend, and not much growth potential, so then what's the point in staying invested
HI Dan, ok mate, I understand that mate, and I know I'm no expert, but let me put it to you another way, from what I understand there are basically two types of shares, one a growth share, the other is when a company has fully grown as far as it can, ex. no more growth, it hen offers a dividend to keep people invested
mole-man. Thanks for your very informative posts. But here is the big question, If vod axed it's divi so it could either pay off debt,or invest in some of the things you are suggesting, would the share price drop like a stone as suggested, or something else? I know I am asking a very difficult question, but who better to ask? It's not that black or white I think.
robleo. hello Amigo. I am all for the divi, my income is all based around it, but I don't kid myself that it doesn't come out of the share price. It is a fact, ex divi day the sp drops by the divi. As long as we all accept that, that's fine. It is not a freebie.
Patient, VOD already do streaming in Germany. Perhaps it's why Germany has organic service revenue growth and UK and other Europeans are shrinking.
With high debt and paying a div it restircts their ability to invest in platforms like this, which appears to be successful in Germany, and roll it out across all it's territories. It's not restricted to UK like BT is.
Dan Well it doesn't look like there is going to be any rapid growth, to get us back to £2, so without the dividend, we would be in a bad place
robleo. If most people are here just for the the divi & nothing else, then we really are in trouble.
Hi Mole-man, totally get what your saying, but surely the share price would drop like a stone, with immediate effect, if they announced a dividend cut, as most people are only here for the dividend
Moley,
BT are looking to exit mobile entertainment, maybe there is an opportunity for Vod to waste millions on a similar enterprise, despite the heavily crowded market?
Dan is correct.
The towers listing gave VOD a bit of cash. At the same time a mandatory convertible bond of £2.5bn converted into stock with approx (from memory) 7% dilution. Vod used some of the towers cash to buy back some of the new stock to reduce dilution. They are not buying it all back. The buyback is due to end at the end of May.
There is a second mandatory convertible bond coming also for £2.5bn in March 2022.
Markets reaction seems more focused on lacklustre forward guidance. USA in particular has been trashing companies giving low forward guidance on earnings day, despite record earnings at the time.
For myself, the results confirm for me what a drag the debt is on their abililty to move ahead. Mature companies today need to be investing hard into future tech, but VOD is already on maximum credit.
They really should not be paying a dividend, but investing what cashflow they apparently have in the future, be it spectrum or satelites or tie-ups for mobile entertainment.