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I am not sure where people are getting 14th April from as the ex divi date unless you have confused last years divi date. The correct info is Prelim ex div 6-4-11 Record date 8-4-11 Payment date 20-5-11 The following is from the annual accounts which announces the record date A final dividend of 10.6p per share in respect of the year ended 31 December 2010 payable on 20 May 2011 to equity shareholders of the Parent Company registered at the close of business on 8 April 2011, the dividend record date, was approved by the Directors after the balance sheet date. The resulting total final dividend of GBP12.2m has not been provided for in these financial statements and there are no income tax consequences. Hope this is of help
http://www.lse.co.uk/FinanceDiary.asp?shareprice=CSN&share=chesnara They've got the date wrong on here as well.
Correction ... just checked Chesnara website. 14th April 2011 is correct.
I understood ex div date to be 6th April 2011 http://www.iii.co.uk/investment/detail?code=cotn:CSN.L&display=fundamentals&it=le
Before close on 13th.
Apologies for my ignorance of such matters, but does this mean that if I increase my shareholding in CSN before the 14th April, I will qualify for payment of the full dividend on the new shares? Many thanks
Ex div date on 14 th April. Great opportunity to drive up a wee bit more for a nice 10p final dividend with another 6p at the Autumn div date making 16p in total. Any one who got in on wednesday on the drop got a real bargain.
Spread
Apologies if it's obvious, but can anyone explain the large spread between buy and sell price in this share.
Panmure Gordon maintained its "buy" rating for Chesnara (CSN), the life assurance group, with an increased target price of 258p, up from 267p. Reflecting the strengthened position in the UK following the Save & Prosper Insurance acquisition, the broker believes the outlook statement is positive. The management team remains on the lookout for further acquisitions which, if acquired at similar discounts to embedded value as Movestic or S&P, should prove to be very attractive for shareholders, Panmure added. The shares lost 10.5p to 246p.
Graham Kettleborough, Chief Executive said: 'The key event in 2010 was the acquisition of Save & Prosper. This acquisition, secured at a significant 39% discount to its embedded value, brings an immediate uplift to shareholder value and provides an excellent fit with our existing UK operations. Challenges continue in our Swedish business. However, its relaunch, re-branded as Movestic together with the launch of a number of new product features, fund launches and the capabilities secured from the Aspis transaction are providing encouraging signs with regard to sales. Positive investment market conditions have helped, both in the UK and in Sweden, where funds under management have grown significantly, to support the very welcome improvement in embedded value. On the acquisition front we continue to seek suitable opportunities and will continue to be selective and only pursue opportunities which will deliver an acceptable value uplift and/or support Chesnara's future dividend paying capability. The Board are pleased to recommend an increase in the final dividend to 10.6p per share. This gives rise to a total dividend for the year of 16.4p per share which represents a 2.8% increase.'
Acquisitions fuel strong growth in shareholder value and dividend growth continues 31 March 2011 Chesnara today reported final results for the year ended 31 December 2010. These are the first set of results which include the effect of the acquisition of Save & Prosper Insurance Limited and its subsidiary Save & Prosper Pensions Limited ('Save & Prosper') which was acquired on 20th December 2010. The Group remains committed to offering shareholders an attractive long-term income stream arising from the profits of its life and pensions businesses. Profit on IFRS basis before tax for the year ended 31 December at £34.2m including profit of £15.9m arising from acquisitions, predominantly that of Save & Prosper, (2009: £44.7m, including an acquisition profit of £25.1m) and at £18.3m excluding the profit arising on acquisitions (2009: £19.6m) Earnings per share on IFRS basis of 29.05p, (2009: 45.26p) On EEV basis pre-tax profit for the year of £77.0m including the exceptional profit of £41.0m arising on acquisitions, predominantly that of Save & Prosper, (2009: £78.2m, including an acquisition profit of £54.2m) and £36.0m excluding the exceptional profit arising on acquisitions (2009: £24.0m). Shareholder equity on EEV basis (pre proposed final dividend payment) now £ 354.6m - £3.09p per share (2009: £262.6m - £2.59p per share) Group solvency ratio remains well above target at 200% post dividend (2009: 316%). In the UK, Countrywide Assured's solvency ratio remained strong at 213% (2009: 197%) whilst Save & Prosper had a ratio of 268%. Swedish business solvency ratio also remains above target at 188% (2009: 302%) Completed acquisition of operations and certain assets of Aspis Försäkringar Liv AB ('Aspis'), a relatively small Swedish life and health insurer, in February 2010 Successful re-branding of Swedish business, Moderna, to Movestic with improving sales, however persistency remains challenging Final proposed dividend increased to 10.6p (2009:10.3p). Total dividend for the year increased by 2.8% to 16.4p (2008:15.95p) Board remains confident about future dividend flows Continue to examine value adding acquisition opportunities
http://www.investegate.co.uk/Article.aspx?id=20110331070000PB3DC
S&P boosts Chesnara's NAV Date: Thursday 31 Mar 2011 LONDON (ShareCast) - Life assurance company Chesnara says that the acquisition of Save & Prosper (S&P) has boosted its asset value. S&P was acquired on 20 December but it still made a significant profit contribution and boosted the balance sheet. Chesnara reported an IFRS pre-tax profit of £34.2m, including £15.9m from acquisitions including S&P. In 2009, the reported profit was £44.7m. On an EEV basis the profit was £77m, including a £41m profit from S&P and other acquisitions. That was similar to the £78.2m made in 2009. The total dividend is 3% higher at 16.4p a share. The EEV asset value was £354.6m (309p a share) at the end of 2010. The solvency ratio remains well above target at 200% post dividend. Panmure Gordon has a price target of 285p a share.
Results due on thursday so hopefully a steady rise in anticipation.
another tip today in Investors Chronicle Rising nicely
I appear wrong in my 6 months ago post,though you'd get a good dividend to cheer you up.
the time to buy this as the xd people have vacated and it should build up now to above 250p ???
There's your ex ex dividend fall then...lol
careful with this one as xd is this week,14 April.It will fall an equivalent amount then hopefully resume rising.
LONDON (Dow Jones)--Life assurance holding company Chesnara PLC (CSN.LN) Wednesday increased its final dividend after posting a massive increase in full-year pretax profit, boosted by the Swedish company it acquired at a significant discount to embedded value last year. Chesnara is the owner of life assurance subsidiary Countrywide Assured PLC. It also bought Swedish life insurance company Moderna Liv in July and said it was looking at further acquisition opportunities. For the year ended Dec. 31, Chesnara posted pretax profit on an International Financial Reporting Standards basis of GBP44.7 million, compared with GBP22.7 million in 2008. Of this, GBP25.1 million of profit came from the Moderna acquisition. The company said its pretax profit on an European Embedded Value, or EEV basis--a key valuation measure used in the insurance industry--stood at GBP78.2 million, up from GBP14.8 million a year earlier. Analysts had predicted 2009 pretax profit of between GBP22.3 million and GBP44.9 million, according to data from the company. Chesnara increased its final dividend to 10.3 pence a share from 10.05 pence last year, taking the total dividend for the year up 2.6% to 15.95 pence. Company Web site: www.chesnara.co.uk -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires March 31, 2010 02:24 ET (06:24 GMT)
there should be one of the dividend dates coming up soon...10% or so yield is excellent
bother-got into CSN a bit too late while SP had gone up 7p but no problem nive dividend will come now lol.neer any danger with this boring predictable share with closed life policies mainly,nothing to frighten the children
CSN is suitable now for daytrading in an ISA,if you get stuck the dividends are wellover 12% pa,you candealin and out as youlike and CSN not being AIM is accepted for ISA deals.the real reason is CSN is now on a small downleg but has had regular pullups...