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One of Non- Execs is assisting the Share Buyback by purchasing large chunk
of ABDN shares around 162p for his own benefit.
ABDN recovered to 165p in two days, but FTSE 100 reshuffle next month .
Also these shares are cancelled not put into treasury.which bodes well for future divi payouts.
Fingers crossed the company does not get brought out - I very stupidly brought a lot of Standard Life shares and they are nose diving by the day
Porsche why would I want to do that I am retired now and enjoying life
Agreed, strange that they are trusted in looking after our money (pensions etc) but can't look after their own. At least if the buy back fund is fixed at 300m, it means that even more shares will be removed from the market with them being so cheap.
Where volume of shares traded for a day are low then often the ABDN share price increases dispraportionately to the market.
As I have said before I am not that concerened about this share. When the stock market improves this share will rise by a magnitude of 1.5 appox
They have been buying shares steadily over the past few months. they are now buying £150million of shares between now no and 23 December. They are no allowed to buy them all at once. It has to be over a period of time. So it is about 700,000 shares per trading day they buy back.
SP has falling significantly due to market conditions.
Suggest ABDN senior manages instruct the brokers to commence Share buyback NOW.
I should spend your dividends on adult learning classes.
Of course there are benifits from a low price my re nvest of divi will buy a lot more share now than at 2.30
O
Without the share buybacks the price would be a lot lower.
ABDN timing on buy backs is a bit out but it does mean that the prfit the company needs to make in the future to maintain or increase the divi will be less.
They get £50 million from Phoenix in divi. £100million from profits at ii. They should be able to scrape together another £120 million from managing £500 billion pounds of assets.
I am not hugely worried about this share. I think a lot of the fall is cyclical.
That maybe but if all they did with the 1/2 billion + that they have wasted on buying back their own shares was buy some Shell and BP shares at least we would have got some income from their big fat divi rather than the f all we got now
LLucan good summary I agree they are making progress despite unfavourable market conditions.
The deluge of selling forcing down the share price will stop eventually. It is not all doom and gloom. The divi has been maintained so anyone with a long term holding has to factor in the 14p minimum a year they have received.
The Phonix investment is valued at 500mill the ii investment is £1.5 billion so that is £2bill in total of identifiable performing investments.
ABDN has nearly £500 billion AUM that does give them a bit of riggle room.
The adjusted net profit figure just about covered the divi for the first 6 months.
They are making progress burt it is taking a lot longer than originally anticipated.
The sector is well out of favour.
Interest rates look like they will be elevated for at least another year.
Until AUM can start to increase again I do not see this share increasing in value a great deal.
I think there is a chance the divi could be cut but I think it is low chance:
Adjusted profit (which is the main indicator S Bird looks at) covers the divi.
The number of shares in issue is falling so ABDN only have to make £270 mill to cover the yearly divi.
They have other assets and investments they could sell.
I think it will fall out of the FTSE 100 in September but when interst rates come down investors start returning to shares then ABDN will also recover.
I think at current prices it is a low risk investment with a very good chance the divi will be maintained.
Sold. Yes, given up, towel thrown in. There are plenty of other shares where I can lose less money. Or make some..
Exactly the same price today as 1 year ago , So that 1/2 billion+ share buy back has worked wonders.
Sold these and lloyds aeons ago at much better prices and split the money into msft and tesla, thank god. Had just read an article which was highlighting non stop capital outflows since brexit, nobody to buy uk shares, and Terry Smith was saying ftse 350 shares mostly garbage, its never too late to dump bad investments and the ftse, like this capital destructive rubbish, is on a one way trip, uk is fxcked and so are the index and currency, come back Tony Blair.
Much the same for myself, have held a small amount of shares for an eternity. Nearly sold at £2.28 before dividend. Wish I had just punted them and moved on.
Share buy back is a disaster , spent a fortune buying them back at what seems too high a price as it continues to fall . Maybe the should halt ,but no,they keep on going.
My wife transferred 500 shares over to me 3wks ago. Now down 30%. I didn't think it would crash the company!!
30% drop in 3 weeks. Useless Directors, poor fund managers and one of the highest fees in pensions. Rip off.
Apologies for the dreadful punctuation etc on my last post. No idea what happened, website glitch perhaps.
well i hovered over the 'sell' button. this has been and continues to be a dreadful investment in my portfolio. my wife received some freebies donkeys ago, reinvested all the dividends and the value would have probably covered a bloody good holiday at its peak. 2 nights in s****horpe currently. disappointing.
Expected more buys ex divi day today