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most folks have never seen a bear market and think there is nothing beyond tesla, peloton and gamestop. eventually they do and most that sit exclusively in growth go away for good. its a great time to be an insurer, you keep hearing it from the companies, most recently admiral today and given the low uk valuations still, in many cases, i wouldnt rule out m&a here. in the meantime it continues to throw off cash while you wait. not a bad place to be in.
Porsche1946 - you do make me laugh. Do you not have anything better to do than criticise UK stocks? DLG paying 7.2% divi. You need to appreciate that everyone has different strategies - I'm happy holding a balance of stocks - from those that I think will deliver capital appreciation and stocks that constantly deliver a strong divi.
I am thinking of doing exactly the same thing myself. Yesterday, Lloyds went ex-divi and dropped more than 1.8p at one stage(4%!). The dividend was only 0.67p(1.42%!), absolutely ridiculous indeed. Not just Lloyds, almost all of my other shares also lost more than the dividend on the ex-divi day. It will be a much better idea to sell the day before going ex-divi and buy back afterwards. Of course it requires a lot of practice. As skills are needed to do the buy backs with perfect timings. Probably it will not work out first few times but it still worth a try though....... hahahaha
"People want ( US ) growth, capital appreciation, not dividend cxxp"
Yeah.. Who on Earth would want the chance of 8% compounded growth each year.
IMO Dividends are great. Spend them, reinvest them, but following the US growth style of share where P/E ratios go to the moon will only lead to bust, especially if inflation bites, which our market hasn't seen for 25 years.
That said, I may trade the ex-dividend gap as I did last time instead of holding through, We'll see.
Hmm, Porsche1946, you’re negative on all your posts! I take it you don’t hold any DLG, well could be shorting.
2.55 would be nice well over 8% yield & growing!
420 takeover price, good luck with that. Nobody wants insurers, declining business model zero growth. These will be obliterated ex dividend, will be moving at a trading range of about 2.55 to 2.80, have been heading south on every chart for 5 years. People want ( US ) growth, capital appreciation, not dividend cxxp. For trading purposes between dividend only.
I agree a nice sized company for a takeover & certainly attractive earnings & great brands, with little investment required once purchased ….
i still have these in the possible takeover bin. there was talk last year and i wouldnt be surprise to see a 420p bid if one comes, although i stress i havent heard anything since. but while the company continues to perform and pays an above average yield, you can afford to wait this one out imo.
ITIGROUP RAISES DIRECT LINE PRICE TARGET TO 352 (340) PENCE - 'BUY'
BERENBERG RAISES DIRECT LINE PRICE TARGET TO 396 (395) PENCE - 'BUY'
CREDIT SUISSE RAISES DIRECT LINE PRICE TARGET TO 390 (385) PENCE - 'OUTPERFORM'
GOLDMAN SACHS RAISES DIRECT LINE PRICE TARGET TO 390 (380) PENCE - 'BUY'
I'm not a huge fan of buybacks when it is done on this sort of scale (or smaller). Buying back, and presumably cancelling, a couple of % of the share issue has a negligible effect on EPS, NAV, share price etc. I always fear it is just a manipulation tool for a BoD to make things look that tiny bit better but hope that people conveniently forget the improvement was paid for with the company's own cash!
To make a serious difference a buyback has to repurchase a significant proportion of the share issue. I have investments in VSL which has recently done this by repurchasing over 27% of the shares at well below NAV (note, this is a different animal and that has partly been paid for by shrinking the balance sheet of investments). The result, an ever growing NAV premium and a share price that is creeping up. Eventually you hope the EPS follows etc.
It is not feasible for DLG to buyback on that sort of scale. If they are going to tinker around the edges of share issue, so be it. At least they are doing it when the share price is low!
Yes, it seems that some are taking their profits. Down 3.4p at the moment. Let's hope that it will rebound soon.
late trade yesterday some one sold a million pounds worth of shares .
The £50m share buy back program has just completed and the company has bought back 16.6m shares. The next program will buy back a maximum of up to 130.9m shares, about £400m worth and just under 1% of the total share capital but every little helps. This will surely help to push the SP up.
Well anyway, let's hope that the upward momentum will carry on today. Long may this rise continue. Good luck and good morning everyone.