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To be accurate look at their website.
Has anybody calculated how many shares SLA have bought back? What % would that be of total share holdings? They seem to have been buying for weeks now.
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SL to pay 300m dividend
I agree coaster.
If they were thinking of not paying the dividend, it would be communicated as soon as possible.
The business has net cash and it does not lend to the business sector, unlike banks. There is no prudential reason why they will be blocked from paying the dividend nor any cash conservation need.
The price is coming off with the market, no more. Fund managers are a geared play on the market due to the fees on AUM.
Am heartened they are buying shares back at these prices. Am fed up with companies that do buybacks at the highs and when the price slumps, do nothing.
It would be difficult for the Board to justify/ recommend cancelling the forthcoming dividend when they continue the share repurchase scheme.
The setting of the dividend is for the board to decide/recommend and the shareholders to agree (AGM) ... the FCA (and anybody else) can say what they like -- they can only exert pressure, not dictate.
However, if the government were to introduce a change to the Companies Act that would be different.
There's no financial reason for SLA to pull its dividend.
@Sharehunter3 - i think the dividend is fairly safe here. But then, it depends on what the FCA says.
This is a point that that Keith has stated quite often - the existing business is valued at basically nothing. Seen reports which state that the sum of the parts is around 150% of current market capitalisation (and this is public knowledge). When you think about the businesses SLA owns - they own Parmenion, 1825, etc, there's incredible value here.
still hoping to receive dividend as there is now no rns showing saying different
I'm yet to invest here but want to run through some numbers based on the current share price (as of 2nd April 2020) of the public holdings that SLA own. We have 19.97% of Phoenix which is worth £830m, 26.91% of HDFC AM which is worth £1,300m, 14.73% of HDFC Life which is worth £1,360m as well as 50% of an unlisted Chinese pensions company that contributed £17m to profit in 2019. If we simply add up the totals (based on the current share prices i.e. after the COVID haircut) we arrive at £3,480m. If we subtract the £3,480 from the current market cap of SLA we arrive at a figure of less than £1bn for the existing SLA business, having stripped out the public holdings. The existing SLA business made about £300m in adjusted operating profit in 2019. So if SLA were to sell all the public holdings at the current price we'd be left with a business earning around £300m a year with a market cap of £1,000m - that's a 30% earnings yield! Now I understand asset managers will be under pressure for the foreseeable but that price takes a lot of that into account already. As there's so much else on sale at the moment it may be that I don't end up investing here, the financial statements look a bit of a mess to be honest. If anyone has any thoughts on the above I'd appreciate the feedback. Cheers, Tom
Note: I understand SLA recently sold a chunk of HDFC Life but the overall point still stands.
yesterday seen on SL RNS no dividend but took it off later strange
According to Hargreaves Lansdown it has and has dropped correspondingly. Let's hope they pay.
why has SL not gone ex div today anybody no
Type Ex-div date Payment date Amount
Final * 02/04/2020 19/05/2020 14.30p
Bought in yesterday at £2.20 lol. Slightly annoyed with myself - but long-term, I continue to think the company is well placed.
hmm... ex div tomorrow so all things being equal should drop 7% give or take.
If you're in for the divi beware of the record date or you may cop a double whammy!
GL
It could bounce off this 200 level however
30% down from the recent call. Hope a few didnt buy the top
still will be holding after I receive my dividend ,some may sell then ,I personly have no plans to sell any of my sla shares even if more of drop in share price may be seen .my hope is share price drop may be temporary , seeing nice number of buyers today at ncyt ,bought it part of reason because felt was helping in the fight against covid 19 with their testing kits ,have held sla for quite a number of years this is one of my long term shares ,which I may buy more of in future weeks or months with a view to holding longer term
I don't doubt the long-term future on SLA - it's a fantastic company. If they get the transformation sorted, they should be well positioned to deliver considerable returns.
That said - the share price movement offers a fantastic trading opportunity IMO!
...apologies divi date is Thursday (2nd April).
Not much in it atm, mainly market sentiment.
14p per share Monday can't ignored, who knows might even gain ground.
some may be selling ,still holding some ,like the dividend at this share
bought some ncyt as moving up some as may some demand for testing kit sadly with covid19 still much such sad news
some may sell their sla share , personly will continue to hold mine ,each to their own decision
Looks like the sell call at 261 playing out.