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Acquisition is good news imv as it is earnings acretive from year1. Hopefully sp will climb back above £3.
any views on this acquisition?
CSN got to keep doing deals to maintain dividend/income
New 5 year low.. I think they can rename it to Chusnarb (anagram for Burn Cash) the way things are going.
sold some rsa to buy some more here , thinking the divi is fanatastic and a rebound just starting.
Apparently Chesnara is an anagram of Earned Cash - made me smile.
Grabbed a few.
Well CSN is up 4% so far which is encouraging as far as I’m concerned, if it finishes there is another matter but promising so far I’m sure you’ll agree.
Cash generation was way lower than last year, they blame it on "symmetrical adjustments". Not sure the market is buying it.
Not sure why sp not moving up ,company has proven it is ok in low interest rate environment.
Getting murdered lately at 5 year lows. Will have to wait for Thursday to see if things are really as catastrophic as the SP indicates.
gabster, I do not use a model . I have a target yield of around 5% as a benchmark, that is typically provided by the UK utilities like national grid which typically have a rpi divi growth promise. Thus any company that I see as equal or less risk than the likes of ng, should have a lower yield and higher sp. Greater risk requires a greater divi. So in this case CSN will produce a higher divi, have higher growth and imv carry less risk .Therefore by these measures the csn sp should be a lot higher. I also look at historic prices , debt etc and make my decisions. I am a buyer here below 330 and will sell close to £4 atm.
Taverham, how are you valuing the shares? The only way I found how to do it is using a dividend discount model (20.7/(9-3) = 345p) where 20.7 is the current dividend 9% id the required rate of return and 3% is the dividend growth rate. So at these prices it's about 15% undervalued IMO. I just added some shares today.
This is now a raging buy imv.
Another funny old day today .
Down quite heavily early on but up at the close on a poor day for the rest of the market.
L&G Netherlands deal approved by regulator Purchase price at 33% discount to economic value which will support dividend as profits emerge Capital releases over time when they merge L&G operations with Waard L&G Netherlands is open to new business so another source of future growth and profits Movestic performing strongly in terms of growth and profitability and first dividend from Sweden Plc dividend increased again Overall increase scale of group and presence in three countries make it easier to acquire more business operations although still tiny by life group standards Hold for me
couild be the share of the year or at least one of the safest
Thanks for comments & research Theanalyser, we can all add a little bit of wisdom!!!!
Movestic sells unit linked insurance so policyholders bear investment risk if markets crash It will have a second order loss as fees on funds managed will decline if there is a crash A crash might also reduce new contributions The link to Luxembourg is I think via a SICAV a commonly used structure to invest pension monies tax free So CSN has some exposure if there is crash but no worse than 2008 crisis from Movestic IMO
I did some research on the net. The Swedish regulators have taken steps recently to cool the market. But four out of five of the major Swedish banks have 60% of their loan book exposed to the Swedish property market!!! These five banks are exposed to each other as they have big cross holding shares in each other. But on the other hand Chesnara's Swedish business has a 49% exposure to a Luxemburg company by way of a cross holding.
If Swedish property bubble bursts, how would this affect Chesnara's Swedish business? Any takers??
Yes, have done so to day. Thanks for taking the time Laughton. They said they would email them a.s.a.p. Has anybody got comments on the Swedish property market? It's getting very hot!!! There was a column on it in the Financial Times last Saturday in the Lex column. If the Swedish property boom bursts a tleast four of their major banks would be in trouble as they are exposed to loans of 60% of their loan book. The Swedish regulators are saying they are well capitalised. But isn't that what the regulators (Irish/British regulators) said about the Irish/British banks before the Financial Crash of 2008 to 2010.
Assume paperwork was posted on Thursday - how long does post normally take to reach you from London? You could always contact Chesnara Investor Relations dept. Phone: +44 01772 972 050 Email: info@chesnara.co.uk
Yes I hold the shares in certificate form
Do you hold the shares as certificates? If so I guess the post does take a bit longer to reach you. If you hold the shares via a UK based stockbroker in a nominee account then they should be the ones to contact you asking for your instructions. Mine are held this way and my broker contacted me on Friday.
It's an excellently run company (once I get my papers!!). I'm a little concerned about the Swedish housing bubble but they the Swedes have taken steps to cool the property market. Any further comments on this point anyone?