Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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LivintheDream - your 08:00 - 'Glencore cut their divi by near 75%' - NO! You are a shareholder, they cut YOUR divi by near 75%!
Good evening robleo, good to hear that you managed to make a little profit from Lloyds. I did buy back a little when it fell to 43ish, but sold too early at around 46ish pence, silly me. That's the bad thing about triggers happy. Should be 1 and half k in profit now if I held on to my shares instead of 500 something. Well, at least I did bank a little profit. 😁😁😁
Have a very good evening mate and good luck. Let's bring on tomorrow.
Good evening Trigger happy. A.K.A sidi lol, A very good day, hope those sales work out well for you, I don't have a large holding here, so was thinking if it should drop back to the 1.90s i will probably add more, hoping to sell some of lgen before exdiv, but waiting to see how high it can go, good thing is i finally managed to sell off some of my Lloyds shares at a profit @ 51.55 it's been a very long wait to get them into profit, let's hope the upward trend can continue
best of luck
A couple of points made during the management presentation this morning clarify issues raised on this board.
First they don’t see the Customer Duty issue causing any significant liability.
Second the dividend increase could have been greater but they are targeting a reduction in the leverage ratio over the next two years. There is a £300m bond callable in July which they won’t renew.
Well at least I can own up to the 2410 purchase at 1627hrs as my LBO was filled ...Unknown my foot !
21-Mar-24 16:41:23 223.22927 594,800 Sell* 233.10 233.40 1m O
21-Mar-24 16:41:23 223.2293 -594,800 Unknown* 233.10 233.40 -1m O
21-Mar-24 16:41:23 223.2293 594,800 Sell* 233.10 233.40 1m O
Why didn't he sell, when the SP was @ 240?
Thanks Meconopsis, sorry didn't have time to go into that depth on a busy work day!
You would think there such be some rule about the summarised information reflecting the details?!
I would appreciate your thoughts when you've digested the full results, and whatever the Mrs has bought in Waitrose!
Guitarsolo
“2023: £355m (2022: £129m)
So they've added £226m to the long-term profits pot (equivalent to 9.5p per share). I'm happy with that as it provides support to the dividend in the long term.”
The devil’s in the detail. You need to look at page 28 of the accompanying slide deck.
The overall CSM is DOWN, not up.
They added more to the pot than last year. But also took a £600m(?) (sorry - writing this in Waitrose car park whilst Mrs M picks up some stuff!) mark to market write down.
I suspect that most of that is commercial real estate and ground rent exposure where they’ve taken a £200m write down.
I’ve not had a proper look yet, but these are the type of results that need a really good looking over.
Interestingly, no mention of any Customer Duty stuff as they have exposure in Wealth and the historic investment book.
As I say, the results need a VERY good read.
A little disappointed with the final dividend after such apparently strong results, but still looking good for the longer term. The tide appears to be turning for the financials and staying long term in my main 5 for the dividend incomes .
I view the big picture here as quite simple. The current dividend yield - still close to 9% - won’t be sustained. Either the divi will be cut (significantly less likely after the results today) or the share price will rise. I expect the latter so am happy to hold, and to add on any weakness.
This was the bit I went looking for:
"Operating Change in Contractual Service Margin
Operating change in CSM is a new alternative performance measure introduced on the adoption of IFRS 17 and supplements the adjusted operating profit metric for the Life and Wealth segments. It represents the change in CSM during the period resulting from new business, interest accretion, experience changes and release of CSM to adjusted operating profit but excludes the impact of short-term fluctuations in investment return and accounting mismatches arising on the adoption of IFRS 17.
2023: £355m (2022: £129m)"
So they've added £226m to the long-term profits pot (equivalent to 9.5p per share). I'm happy with that as it provides support to the dividend in the long term.
Hey snakeeye, morning mate. I only took the opportunity to cash out when it reaches a new high, but I am not going away forever. Will buy it back if it pulls back. Good luck to you too and enjoy your day.
It'll be on the rise again soon Seen_it, nothing goes up in a straight line (I think we've had this conversation before ;) )
Well done for taking your profit and good luck with whatever you decide to invest in next, as you say it's never a bad thing taking your money.
For me this has plenty left in the tank and whilst I wait, I can keep collecting a healthy dividend, so I will be here till the £3 party and possibly beyond.
All the best
MNG have been good to me. I bought in very low with all my PRU proceeds. Today I bought more. I already have as many AV. and LGEN as I want for now.
Call me trigger happy if you like, but the SP has already dropped 5 p since I have sold.
I have sold. My past experience tells me that it will pull back. Doesn't matter if it won't this time. Because taking profit is never wrong. I have also sold half of my LGEN.😁😁😁
Divi held and share price up, nothing to complain about here for me
Gla
Took an early div as profit when sold and moved it all over to LnG and Phoenix and some RR
Jaw buy backs have already been committed to, I would expect this to continue going forward to reduce the dividend liability and ensure levels can be maintained, as you say the market would like punish any significant drop in the dividend amount, but if it stays above 8% that's still fantastic and I think this would still be seen as a positive going forward.
The dividend is already exceptional, so maintaining it is fine with me and will give confidence to the market. The company is in a good place and has performed very well since its inception, considering this was only months before the pandemic, they have outperformed most others and maintained a fairly steady value, during all the turbulent times that have followed.
The dividend is market beating and the share price is strong, what's not to like?
£2.50 is easily achievable before summer (as I have stated on several occasions previously) and when the world settles down, interest rates drop and the economy starts moving again, who knows where this could go.
My original target price from some time ago was £2.50, I am now revising this to £2.80.
Good luck all.
Agree Cheapshares
The dividend yields are excessive on UK financials at present and they are locked into paying the same level of dividends going forward as they will likely be punished by cutting the dividend (unless they commit to BBs in lieu). They should hold the dividend roughly where it is for the foreseeable and either invest in the business, reduce debt or execute regular BBs - they just need to explain the balance to the market .
Absolutely.
13.2p divi plus sp up 7p. That's 20p to boot this morning.
I'll take it.
Can we now get the re-rate to £3 share price?
Needs a new trading range
A couple of broker upgrades might help with that
Reported £797 is reported to be substantially ahead of expected £750m maybe that's why the reaction was positive. 13.2p divi was underwhelming but excessive divis are pointless often times.
Nice set of results and onward momentum in the share price.