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14-Nov-22 Barclays Overweight 850.00 890.00 Reiteration
Typo right ?
A key focus for investors is Haleon's ability to pay down its hefty net debt pile of close to £11bn. Haleon is targeting Net debt/underlying cash profit to be below 3x by the end of 2024. For the current year consensus forecasts suggest that Haleon is trending for a level of about 4x. With this in mind we were a little disappointed that Haleon couldn't move net debt in the right direction during the third quarter. Haleon's cash generation will need to improve if its targeted debt ratio is achievable. Debt reduction and any associated fall in financing and interest costs will be a key driver of earnings growth in the short to medium term.
The chunky debt position could likely be what prompted Haleon to guide at the half year point that its initial dividend is expected to be at the lower end of a 30-50% pay-out range. Please remember no dividend is ever guaranteed.
The idea that Pfizer and GSK are going to "dump" quality Haleon shares on the market, thus destroying their ability to get decent value out of those share is ridiclous. The quality of the financial media is a joke sometimes. Pfizer and GSK clearly both said they will reduce their holdings slowly to maximise value. This implies the rate will be such that it will be a small % of average daily volume and therefore will not impact the price.
Good update mind you its like GSK any good news makes little change anything bad the share drops like a brick !.
Mind you I do think Pfizer from today can offload shares so the dip is no surprise.
Is today not the day Pfizer can start offloading their share in Haleon ?.If she stays in positive territory that would be good news going forward .Some indication re dividends would be nice also .
I always miss what it is the markets want to see in these updates, but this looks better than I expected. Am I missing something?
Yes what will be in the update....sp motoring today hopefully dividend annoucement, sold a few just incase......
Atb
On Thursday, hope it's positive enough to increase the SP.......seems to be in the doldrums !
Subject to Haleon Board approval,” the GSK circular states. “Haleon expects to pay a dividend to Haleon shareholders in relation to the second half of 2022 in the first half of 2023, subject to Haleon Board approval and following approval of Haleon's FY22 results.”7 Oct 2022 . Hopefully this will be the case but nothing is ever certain
I seem to remember that they said they would not pay a dividend for 2 years, until the debt which they took on was reduced and I believe that Pfizer also has an interest in HLN. I am sure that someone will either correct or collaborate with me.
I am buying these on any share price weakness as this will soon become a dividend paying company ... Hopefully buying HLN shares now will prove to be at a good discount . I plan to hold long term as my portfolio is geared for dividend income.
Q1 next year
I am confused about this company's dividend policy. There does not seem to be any payment due for the current period, yet GSK are already paying a greatly reduced dividend to their shareholders. Has anyone worked out when we might receive a payment?
just been doing a lttle reserach on this. Haleon CEO appears to be taking a firm line
https://www.fiercepharma.com/pharma/haleon-sees-revenue-growth-after-gsk-spin-out-rejects-zantac-litigation-claims
https://www.marketingweek.com/haleon-reinvest-brand-gsk-split/
Monday, I sold one third of my GSK holding and bought HLN with the proceeds. Just to balance things up a bit..
Seems to be working so far.
Still rising ,sold a tranche but keep profits in shares..capital returned , most unexpected this ,but no complaining........
Hln doing rather well in blood bath market , must be the boards pending dividend annoucement .....ATB
Unilever who are having a fairly tough time at the moment must be tempted in another offer for Haleon.
With the fall in the pound their original offer could be raised and they would still save money .
...if we now get bid interest, especially from USA.
Hi,
I don't think they are paying a dividend until the final results to Dec 2022. This is an extract from the prospectus...
"The Company expects to pay a dividend to Haleon Shareholders in relation to the second half of 2022 in H1 2023, subject to Board approval and following approval of the Company’s FY 2022 results."
Does anyone else find it strange that there's no date associated with the initial dividend payment
https://www.cmcmarkets.com/en-gb/opto/can-a-flu-season-sales-boost-lift-haleon-shares-post-earnings