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Good finish, and virtually all of the trading volume going through in the uncrossing trade (and the other after hours trades), at 179.25p. So much so that all the intra-day trading at other prices is irrelevant chicken feed.
molokai - Old Pete the Pirate Landau with his bags of porn for Puntland. That was a learning curve wasn't it. Still got emails from him in my inbox. Looks like things are catching up with him: https://www.miragenews.com/continental-coal-directors-and-company-secretary-charged-with-breaches-of-directors-duties-and-making-false/
Good to see a fellow OKAP "survivor" still doing well ;)
RichThe Newbie.... a name from the past. I recall your regular posts along with quite a few others on RRL and all the nonsense with Landau, I would imagine quite a few suffered with that share. Anyway, good to see you have some MRW. Ive added recently, quite a lot for me. Dumped a load of TSCO pre consolidation and waited for a relatively good point to put it in here. More shares for the same money, similar dividend and hopefully a boosted SP to follow.
Rich, we all make mistakes and why it's good to discuss things as sometimes others spot things we have missed or put another slant on things that we had not observed.
I double posted so either I'm going mad or my tab was playing up. Maybe it didn't refresh.
Yes the divi is good, I wish the SP would do it drop as I'm dithering over a top up. I'm also unsure what yield to work on going forward, somewhere between 4 and 7 percent depending on what they do with specials.
Market looks to be on the rise today so that top up is looking remote.
Gerry you get an apology for me being a t*t and using the wrong column on a dividend list making things more confusing (used forecast not actual when totting up) so my numbers were wonky. We're really essentially in agreement that the dividend is good now + going forward.
"There might be better ones"
You would hope the horses mouth would be accurate
https://www.morrisons-corporate.com/investor-centre/shareholder-information/dividend-history/
https://www.morrisons-corporate.com/investor-centre/shareholder-information/dividend-history/
Hopefully this one will be accurate
Rich, I think we are getting into semantics. I worked calendar yearly as that is how I look at "my" income and have real worked figures. The financial year end figures by the company dont differ much.
" and we obviously agree it's only fractionally down during the pandemic" actually they were up during the pandemic. 8.77p to 11.15p or were you meaning the 2019 12.06p to the 2020 8.77p
The big as I describe it or fractional cut as you describe it cut was discussed in the 2016 final report. Going from 13.65p to 5.43. maybe we can agree on a big fraction as its more than half.
"Strong and sustained cash flow also provides good visibility for future dividend payments. For 2015/16, we committed to an annual dividend for shareholders of not less than 5p per share and the 3.5p announced at the time of the preliminary results takes the full year dividend to 5p per share. The Board recognises the importance of sustainable dividends to shareholders.
From 2016/17, subject to AGM approval, we will be paying a dividend covered around two times by underlying earnings per share. In addition, we remain committed to returning surplus capital to shareholders.
The underlying dividend has been growing since. Aided with specials, sometimes twice and some deferred. The 2020 blip in my figures is also shown in the financial year end too.
I do think that they are pretty committed to paying a dividend post the rebasing. With the specials often taking them below the x2 commitment but shows confidence and cash flow. I think the deferred special was more of a political statement rather than a management decision. So was the return of the government aid monies although I tend to agree with that one really even though they complied with all the rules and there was no real reason to hand it back. Hopefully sometime in the near future we can get dividends that surpass the previous 13.65p peak, even if its aided by specials. Im also happy that debt is being reduced as that should ensure that the dividend is more secure next time.
So as not to continue along the semantics the annual reports are out there for facts. There are several websites with div history (assuming they are accurate)
https://www.dividenddata.co.uk/dividend-history.py?epic=MRW
https://www.hl.co.uk/shares/shares-search-results/m/morrison-wm-supermarkets-ordinary-10p/dividends
There might be better ones!
Gerry - we're not far out numbers wise, and we obviously agree it's only fractionally down during the pandemic, so basically it's paid about 11-12p in dividends, every year, for the past 3 years, and this is all fact so obviously we can't disagree (using calendar years makes no sense and that's why your figures have a blip in 20 because that's not how business works).
You can't rely on any dividend from any company 100%. However, Morrisons was still comfortable enough in their position to continue paying theirs at the 11-12p level, during a pandemic.
So where I maintain you were being misleading was when you said:
"Well when you put it in context its not as good as you make out. 2018 and 2019 had much higher total dividends albeit made up with special dividends like the 4p you quoted. So its been "cut in reality" over the last few years."
The dividends weren't MUCH higher in previous years. They've pretty much maintained their good level of dividends, with this years dividend during a pandemic still 90% of what it was in previous years. It's not been cut significantly, or completely, like many companies.
Which rather shows their commitment to it, does it not?
"That's pretty misleading Gerry."
Hi Rich. Im not sure which "bit" or bits you are talking about? I didn't post figures as I didn't have them to hand at the time but even using your own, it supports my claim that the dividend is lower by "approx." 9% difference looking at the last few years.
I still think I'm correct that Hulvard was comparing the special with the final. I do agree that the specials, including the timings make it much harder to come to a predictable dividend yield moving forward. You cant rely on a special or when it will be paid.
Looking back at my own figures, which are based on calendar year not financial year. We are in the same ball park
21 11.15 (assuming 2.04 in Oct. I suspect it might be more, it also includes the 2020 special that was deferred until Jan 21)
20 6.88
19 12.68
18 12.28
17 5.43
So we are not that far out numbers wise, six of one and half a dozen of the other and all that. I'm I still being misleading?
That's pretty misleading Gerry.
2018 and 2019 did not have much higher total dividends.
The total dividends for the the most recent 5 years are:
20/21 11.15p (including the final 5.11p in a few weeks)
19/20 12.77p
18/19 12.6p
17/18 6.09p
16/17 5.43p
So the dividend is only fractionally down on previous years, despite the pandemic, and is amongst the highest dividend payers around at the moment!
" most importantly to me, have declared a solid dividend of 5.11p per share. The last dividend? 4p a share. That’s an increase of over 25%. What’s there not too like about that? "
Well when you put it in context its not as good as you make out. 2018 and 2019 had much higher total dividends albeit made up with special dividends like the 4p you quoted. So its been "cut in reality" over the last few years. Your comparison is not really comparable. The previous final was 4.84p!
Still there is hope we can get back to those levels in future but they have to be seen to be doing the right thing re covid hence why they paid back the government help monies. I do agree on the overall sentiment though.
As for dividends, I'm quite partial myself. I see them as a cost free small sale of shares. Some cash flow to top up the investing pot and all done automatically. So no trying to time the market or share price. You only have to worry about when to buy. Hopefully this will keep dropping and its on my watch list for a top up ............. hopefully before ex divi in May
Definately agree Hulvard. i have been looking at the main supermarkets a little to diversify and morrisons does indeed stand out as the cream, far far better than tsco for sure. Only have to look at where all the punters are shopping in my town to see who the masses prefer based on a good old scientific 'queue length' principle.
Take care
Instead of relying on dividends, why not sell a small proportion of your shares instead?
Hi Guys,
By nature I watch, but rarely comment, as open mouths catch flies, as the Chinese say. For one who is confined to home, with a serious degenerative condition, never mind lockdown, I have had a lot of time to both think about shares, & research them, before investing. I have relied on online shopping the last few months, to keep myself fed. 12 months ago, I rarely looked at supermarkets, because, usually, the dividend was crap. Being an old git, dividends are important to me. Lockdown has really shaken the supermarket tree. Tesco’s, & Sainsbury’s have done well out of lockdown, but, whisper it quietly, in my opinion, Morrison’s have done better. They are now stronger than they were, &, most importantly to me, have declared a solid dividend of 5.11p per share. The last dividend? 4p a share. That’s an increase of over 25%. What’s there not too like about that? They’ve also recently bought the Cornish fish supplier, Fishfal. Fishfal featured recently in the documentary series on television, ‘Cornwall, this fishing life’. That’s a good business in its own right, & it’s purchase pretty well guarantees Morrison’s, a regular supply of fresh British seafood. Brilliant thinking by the Board. Overall, Morrison’s isn’t perfect, but getting better, & is good enough for me to be buying shares in the company lately, & will be buying again, going forwards. BW’s. Hulvard.