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You're right silverknight, we don't have dividend dates going forward which would have been helpful. However, it would be normal for biannual payers to declare an interim dividend with the half-year report and a final dividend at the full year.
Thanks. I was aware of your first point and now remember the other issues. We still don't have a calender for divis going forward do we?
No, you're missing a few things.
1. They've switched to two dividends per year.
2. In 2023, only some of the shares were eligible to receive dividends. Old Pollen Street shareholders didn't receive full dividends due to the terms of the merger agreement. They are now entitled to full dividends so although the total £ paid out in dividends is higher, the dividend per share is lower because it's spread across more shares
3. The company is buying back shares so the £33M is becoming more dividend per share with each share bought back because repurchased shares aren't entitled to dividends.
I thought I'd seen that another 13p payment's due on 28th June Krusty(maybe I'm mistaken) They said on the IMC presentation that dividends would total £33mill against £32 mill last year so I would expect at least 54pps. Here's hoping.
I'm expecting half-year payments in September & March silverknight, subject to confirmation. I've pencilled in 27p + 27p = 54p but that might be a bit optimistic.
Struggling for clarity on dividends going forward. Is it same again at the end of June and then a double payment in December to reflect the change to biannual payments?
To me it's now trading at fair value, I might come back if it dips below 500p which I believe it will on any bad news, either on the company itself or their sector
Their guidiance for this year and next is way too optimistic. It's good div stock though if you are looking for income rather than growth
You don't believe the current numbers or you don't believe they will meet their future targets?
Sold all at 600p. Dont believe their “story”
Excellent results, plus significant upgrade to 2024 forecast. Even the market can't ignore this one, significant re-rate this morning. For anyone watching MAFS Australia, Deeeeeece!
Because it is being bought by Pollen's PE funds, not directly by Pollen.
Announcement on the MTW site this morning of an agreed bid from Pollen Street Capital (see POLN Share News above) so why no RNS here?
Directors filling their boots this morning, nice rise in the SP too disguised as a 4% fall...
There's a seller in the background, once they are done this will bounce back above 600
I think it's FCA related contagion fears.
I don't think it's warranted. I think any historical exposure to consumer vehicle finance is extremely low and they've never offered low interest loans.
Hopefully we'll see a comment in a Q4 trading update this month.
Tangible NAV per share (i.e. the legacy loan book) was 542p at June 30th. Current SP means you get a slight discount and then the asset manager for free. A strange turn of events.
It seems to me that there is something deeply wrong with the UK markets when trading in 600,000 shares amounting to say £3m (or just 1% of market cap) over 10 days can move the share price by 15-20%.
I am no expert but it appears to me that the combination of the SETS electronic trading system and allowing computer driven trading (probably between 2 accounts controlled by the same ultimate entity with a position in the futures markets) is making the market uninvestable for the private investor. RIP UK Stock Market unless the authorities get on top of this.
Added more this morning to bring my average down to 570
Thanks 34ad. Presumably that means that any uplift in value upon IPO from carry value is mainly for the benefit of the investors in the relevant fund or funds that the shawbrook holding is held in but Pollen get benefit from their % management fee applying to a higher AUM figure and perhaps some performance / success fees depending on the detail of the management agreement.......
It's one of the assets in Pollen's PE funds.
The private equity owners of Shawbrook are seeking to revive plans for a float of the bank in a potential boost to the London stock market. Some City investors are understood to have been sounded out about a possible initial public offering of Shawbrook, which was bought by BC Partners and Pollen Street Capital for £868 million in 2017. - The Times
I presume this is one of the Assets in the 'New' Pollen. Can anyone confirm?
Yes, a minimum annual dividend of 51p which is progressive, paid every 6 months.
Ha ha I know exactly what I’m doing but I made a mistake here listening to the bull and potential - big capital hit but just about covered by income….
£6 was better in the grand scheme of things and can get a better quarterly rate elsewhere, if I’ve understood this right it’s going to biannual payments
This drop has not nothing to do with the company itself, other PE funds dropped similar amount.
I believe this is the only one that pays a decent dividend