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Seen_it_done_it
If you'd be happy to take £2.76 then put in a limit order at that price prior to the open, if it fills 1st thing then your happy :) if it fails then at least you gave it a go.
In the past I've been shocked at some of the prices you can get on open! Sometimes I think the MM has forgotten its gone XD
Good luck
LOTM
Hi LOTM-13, my friend, thank you so much for your suggestion. I do not think it will be possible to sell at 276 tomorrow after it goes ex-dividend, since the dividend is 8.36p. The reduction will take the SP down to 270 or somewhere about. Could have sold at over 281 a day ago but hesitated and missed the chance. Now I may well have to hold on to them until the next opportunity arises.
Anyway, fingers and toes crossed, let's hope that the drop won't be too bad tomorrow. Have a good evening and good luck with your PHNX buy, mate.
Seen_it_done_it
I never got back into CSN the spread has been far too big & the price not where I wanted it, so I bought PHNX since its yielding 5% with the XD tomorrow.
I'll probably be trying to sell it around £4.87 on a limit order 1st thing in the morning to bank a couple of hundred £'s in profit, if it opens higher than that.
If I had CSN & your buy position, I'd be trying to sell it 1st thing on open with a limit order in place around £2.76 to bank that profit once the divi is paid (sometimes you get out at an even better price than you think possible if your 1st in the queue) then I'd be waiting on the sidelines with a limit order in place for the next few weeks around the £2.70 mark.
But that's just me & yes it might not be possible to trade out at the price I'd want. Will watch the opening prices with interest.
Good Luck
LOTM
Thanks LOTM-13, true that I should have bought all of mine back when it was under 273, but that's hindsight now. Anyway, I am already lucky didn't have to buy back at a higher price. Hahaha. Good luck my friend and have a nice evening.
Seen_it_done_it
Your mistake was only buying back 1/3 at under £2.73 you should have bought it all back at that price, you'd have locked in a profit of around £450 & still be entitled to the dividend.
I sold my 2 parcels 1 at £2.78 & the other at £2.798 for a net profit of just over £540
I tried to buy buy one of the parcels on Friday, was looking at something else when the price dropped & you got your 3K, sadly my limit order never got filled :(
If the price drops before Thursday then I will probably buy some again & hold for the dividend.
In the meantime those free funds have made me a tidy profit elsewhere that I've just banked :)
Patients is the key don't go chasing the price let it come back to you (even when a dividend is due)
Good luck
LOTM
That's it, got my other one third @278.88 during a sudden drop. Now my break even has gone up to 278.84. All these hard work for only less than 1p better off, what a joke!😂😂
But I didn't make a loss. 'Every little helps', however small. Now I'll sit back and enjoy the dividend.
However, I will still sell if it goes up to £3 then buy it back again when it falls back, and that's my original plan. Hahaha
Think that I have done something not so clever. Bought back two third with an average of 278, only 1.5p less than last time but my holding is one third less, lol😂😂😂
Sold my shares yesterday @278.669. Just bought back one third @272.46. That was the first trade of the day for CSN. Will buy the other two third back in due course.😁😁
Yes tichtich, indeed each to their own, we all have different strategies for investing. The reason I sold mine was because I saw the SP of CSN has been range bound for all these years. It's ideal to buy when it is at its lowest and sell when it is touching or near to the high. I felt that the price I sold was the highest for quite a while. It may drop back to the 260's once again if I missed the chance. Of course it can go higher after a good result, and that is the risk I have to take. Investing in shares is risky anyway, lol
Tomorrow will see if I have done the right thing. Anyway, I don't mind if the SP continues to climb. I can wait for it fall back and buy them back(one day) again.😂😂
Each to his own, but in general I'm not going to sell shares in a company I like in the hope of buying them back cheaper later. Been there, done that, and more often than not the price has gone up and I've "lost" the opportunity to hold a good share because I'm not willing to buy it back at a loss. Of course, I could just buy something else instead, but I only find a few shares that I'm really happy buying. As a matter of fact, CSN is one case where I did succeed in making a small profit by selling and rebuying. But I'm not doing that any more. Not worth the hassle and risk. I've decided I'd rather just buy good safe dividend payers, leave them alone, and sleep well at night. 😴
Currently I'm about 5% down on my average price, but that's nothing when you're holding for the long term. It would be nice to time my purchases perfectly and get the exact bottom. But 5% is near enough for jazz. Of course this might not be the final bottom, but as long as the dividends keep coming and I'm not selling, why worry? In fact, if you haven't reached the maximum you're willing to buy, a fall in price is good (as long as it's not a sign of something gone wrong) as it means you can buy some more at even better value! I'm considering doing just that, but might wait and see if we get back into the 260s.
Anyway, I hope it works out well for you.
I have finally gotten out with only £40 capital loss, but pocketed 31.65p per share of dividend. Will get back in at a lower price. See you all later. Good luck and God bless.🤞🤞👋👋💪💪
Yes LOTM-13, I know, but I was a bit too slow to react, when the SP was over £3. Should have sold and buy back. Let's see if it will get back up there again. This time I'll definitely sell and wait for it to fall back then buy back, lol😂😂😂
Seen_it_done_it
CSN looks to be a share you can trade & do well with, sell at just over £3 & buy at under £2.75 & collect dividends along the way.
Only 1 week to hold to qualify for the dividend now (roughly 3% yield)
I get the distinct impression from the results announcement that another acquisition is just around the corner & is a bit bigger in size than the previous ones.
LOTM
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:(