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I bought CSN for income proposes. Unfortunately, my average is quite high at 279.2p, but I have already received 31.65p of dividend since I bought a couple of years ago. Will be 40p including this coming 8.36p, which can well cover my capital losses. Of course I would love to see the SP goes back to £3. If not, I still will hold long term for steady income.😁😁
Great results and confident future. Yield outstanding here and solid - grows every year.
The only thing is that the net cash has only increased to £127.5m from £108m, not £149m projected though.
Https://twitter.com/surprised_trade/status/1704742222220910815
Increased Economic value ("EcV") of £523.2m (347p per share)
· Improved commercial new business growth of £6.3m delivered
· IFRS profit before tax of £16.0m, and increase of CSM of £54.2m in the period
· 3% increase to the interim dividend to 8.36p per share;
Cash balances at Group holding companies increased over the period to £127.5m (31 December 2022: £108.1m), providing substantial resources to fund future acquisitions.
The interim dividend of 8.36p per share is expected to be paid on 10 November 2023. The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 28 September 2023
We retain a strong and resilient solvency position significantly above our normal operating range and substantial cash balances at the holding company level to fund future acquisitions. We remain optimistic about our ability to participate in future M&A and continue to be highly confident in our ability to finance and execute such transactions on attractive terms for both vendors and our shareholders."
Results seem okay, but we need to wait and see how the market reacts. GLA
We will find out in the morning ........
They were previously projecting net cash to have risen from 108M to 149M at 30th June. So lets see how close they got to that number.
I'm guessing the dividend will be raise to 8.3x per share.
Given the yield is already near enough 8.6% It might be time for them to consider doing a small share buy-back, as this will be there dearest source of funds. They can payout the same amount of dividend in £ terms which will result in a slight increase in the dividend per share, just depending on how many share are bought back.
I know they want to make more acquisitions which is why there keeping the solvency ratio much higher than before, but there comes a point when it becomes inefficient to do so.
Will be an interesting read. Especially for me as I've bet on them exceeding market expectations, so fingers crossed.
LOTM
Interim results and dividend declaration tomorrow. Let's hope that everything will be good. GLA
Just bought a 2nd parcel of 5,000 shares at just under £2.72
LOTM
Bought some of this, this morning as I've noticed it tends to perform very well when it releases its results.
I've been watching for the right time to get in, when the spread was nice & tight.
Lets see what happens on Thursday & the run-up to the ex-dividend date.
LOTM
On the 28th Sept.
I thought it was the 8th for some reason:(
Https://www.ft.com/content/3a80d337-cd09-4d16-94f7-ec7e08720669
Lord Lee adds Chesnera to his portfolio as a consistent dividend payer with the potential for sp growth....
Why such low earnings to pay the dividend?
Time flies, interim dividend next month. Let's hope that people will start buying again. Would be nice to see it revisit £3 once more.
2,554 Buy this morning showing as a Sell
TT. This is a fine company with an excellent divi track record. I also hold AV and PHNX for regular income in my ISA
Hi. First time posting here under CSN. I only bought CSN a few months ago, after having it on my watchlist for a while. I was wary of it, as I didn't know how it would be affected by interest rate hikes. But the share price has been remarkably stable for the last 3 years, despite the interest rate chaos and market swings.
My main concern now is whether the dividend will be able to keep up with inflation over the long run. But, given the high current yield, I can live with some fall in the real value. I don't really expect my investments to give a real return of 8.3%. (It would be nice though.)
The only share i know where if the share price goes up,the overall share value goes down.It's a one off
Not so bad, only dropped by 14.5p. let see if it will rebound tomorrow then.
Looks like few people are buying for the 15.16p dividend. It will go ex next Thursday. Let's hope that the sp will hold after that. At least won't drop more than the dividend. GLA
Net asset value not always as important as free cash flow but useful to know as previous one can see 2021 was only 223 p
I have just checked the dividend history with DividendMax. If you have bought your shares at this price 9 years ago, then your lowest dividend yield would be about 6%. The current yield is just over 8%. So, you didn't lose money at all but enjoyed good incomes all these years.
Dividends received make it a lot better than money sitting in the bank over that time though.
Yet the SP is about the same as when I bought in around 9 years ago!!!!