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The final dividend for the year ended 31 May 2022 of 31.24 pence per share was proposed by the Board on 20 July 2022 and has not been included as a liability at 31 May 2022. This dividend will be paid on 20 October 2022, following approval at the Company's AGM, to those members on the register at the close of business on 23 September 2022.
at 785.5p the amount I purchased on the 13th June
200mn dividend, plus a 150m share buyback - effectively a £350mn return to shareholders, more than 10% of mkt cap - which is one reason why the stock is up so much!!
Well it must be a cold day in hell - IG come out with good results (as normal) and the stock actually goes up!!! :-)
Probably be down loads tomorrow :-(
- Aim to empower through education with a focus on financial literacy
https://www.lse.co.uk/rns/IGG/results-for-the-financial-year-ended-31-may-2022-qjlm4i8pkaeg1hj.html
if you are an IG site user, IG do actually want you to be a success.
Yes great results, looks like a bigger focus on returning money to shareholders, the share buybacks should really make a difference to eps and shareholder returns.
Coupled with the dividend looks a great place to be.
Am I right? 400 M profit after tax. Plan to distribute 50% so 200 M. Shares in issue 431 M so 46p a share? 6.5% going forward?
The results have beaten negative outlook easily.
Tastytrade that many feared, was up 16% excellent performance. Share buyback commenced, progressive divi going forwards so next time should be perhaps 50p for the year. Outstanding including revenues margin and overall business performance!
Excellent work by IG
tentative buy here but i know i'll probably be averaging down. It's best in class so hopefully better than the rivals.
Ig is not purely about the tasty acquisition although it’s important that they get foothold in USA. Synergies would be the key I suppose but I am not sure the current ceo is capable of that
Yes timing was bad and robinhood read back is bad.
Of course so far tasty has fared better than robinhood - will this persist. I waive surprised if tasty was as bad as robinhood. Robinhood is selling to more imbecile folks tasty appears at least slightly more sophisticated. Anyway we will see soon
We await confirmation clearly but the approximate 90 per cent decline in Robinhood share price peak to today suggests things may not be exactly plain sailing for Tasty Trade to put it mildly and of course it was bought on a multiple miles higher than that of ig at the time and even more miles higher than the current one. A lot of US businesses were booming on the back of a tech share boom and must surely have suffered. However, we do await to see what has happened to Tasty Trade.
How do we know tasty trade is doing badly?
Is this speculation or facts?
Last results tasty was still running fine?
It's a fair criticism of the SP performance; a share buyback plus more regular comms with the market would both help IMO.
Operationally, the company must be excelling, generating record revenues/earnings per share, which management deserve some credit for, IMO.
Jury's still out on TT - for me, there's a strong logic to diversifying into the massive US market, in a way that maintains profitable growth. For every 0.25% increase in the Fed funds rate, TT's annual profits increase by c.$4m due to interest earned on client deposits. With the rate increasing 1.5% in recent months, that equates to $24m additional annual profits (mostly to be seen from FY22/23) . And we all know more interest rate rises are on the way. Hopefully they should get approval to expand into Canada later this year too. Those are potentially two big bull points that could trigger a SP re-rating, along with record results (including maybe £1bn revenue?) on 21 July.
Here's blooming-well hoping so, anyway!
SBC
Totally agree. All fine ex Tasty unnecessary big mistake. This will become clear soon I feel. Management is paid to get these things right and if they do not what happens?
The Tasty purchase appears to have destroyed considerably shareholder value. No share price appreciation or increase in dividend since June Felix became CEO. On the upside, IG is the leading ESG and wokery CFD provider our of the l three listed firms on the London market - despite its customers suffering similar lose ratios as all of the other operators in the sector.
Shareholders would have been better rewarded with an increase in dividend or a billion dollar buy back programme rather than the purchase of Tasty at the top of the market.
Market is acting like a headless chicken again.
Yield is approaching 6.5% and volatility being good for ig - only manipulators would selll this now.
Madness. But it’s unlikely to be here 2 weeks before x-divi. MMs taking the **** for a few days I assume
again , averaging up
Ig has a higher percentage of professional traders.
Thus less effected by newbie who traded for one year then left. CMC has more unprofessional traders who don’t know what they doing - this is a different client base, although of course ig also has newbies who don’t know what they doing. Just less of them.
So why ig goes down when cmc results are poor?
Because, in my view, market at times is stupid and acts like a herd of headless chickens. Eventually such things will slowly correct though. For the time being just need to take advantage wren the market is idiotic.
I just picked up some shares at 680.5p
Wasn’t planned really but at these prices it’s very good value. Yield is now around 6.3%
So CMC news is reporting to March 22. IG have already reported March performance and it was very positive in my opinion. 2 questions:
1. Why such a difference in fortunes between Ig and cmc performance. I buy the cmc reason for drop off as volatility was huge in 2020/2021 with loads of new entrants to trading and meme stocks being massive. So it just highlights something iG are doing really well when we haven’t logically got a reason?? Or have I missed the key difference between the 2 models?
2. Why would cmc update effect ig sentiment when we have already reported on this period and also when cmc results are in line with guidance?
IG at 670 are looking very attractive to me.
Share price is clearly reacting to the fall in CMC. Could be a good time to top up - unfortunately I did so yesterday :(
I think ig will go down further so will plus.
Maybe £6 later on plus down to £12.
I totally understand this.
I have both shares, IGG on and off since 2012 luckily was out before the huge drop in December 2016 when the FCA announced the leverage restrictions on non professional clients. Currently I am up 10% not including divs and my PLUS holding is up 106% not including divs having held bought and sold since 2017.
PLUS has also suffered some huge drops and I consider it it be a bit more risky than IGG, also it is Israeli domiciled and carries a 20% WHT on dividends that take an eternity to pay out.
Agreeing IG looks cheap but plus way cheaper still. IG has paid so much for Tasty and there must be a concern that Tasty clients were too geared into highly speculative shares that have come crashing down. Volumes away from highly speculative shares and crypto have been great.