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Yes, they pay out a final and interim dividend. This is the first year they've started to do that, which is why it looked little unclear.
Ah great, good to know this is not an abnormal delay!
SP holding up very well considering the recent run, I have slight concern that the market is expecting a higher dividend (5p+) and anything lower will disappoint and result in a pullback. Still a decent yield at 3-4p however, do they pay out a final and interim dividend here? the dividend history on Stockopedia is a bit confusing!
Yes, dividend announcement should come with results, then we will get the payment dates etc announced in June:
"The full results and audited accounts denominated in USD are expected to be published in April 2021".
For the last 2 years they have stated an expected publication date of April, but were released 15 May 2019 and 10 June 2020 - so could come anytime in the next few weeks I guess!
Are we not waiting for full year results any day now before dividend is announced?
According to Dividendmax today is the declaration date for the dividend. With the elevated SP I'm intrigued as to what the dividend will be this year.
@kingsuarez
thank you, I do see your point. But I was looking at dividend cover from earnings per share rather than 'cash in the bank'. By that method the dividend is still not covered (ratio <1). I'm Still holding on though. Momentum is certainly in our favour at the moment and overall does have good fundementals!
This company appeared on my very stringent stock screener a few weeks ago, which very few shares do each year. It shows it has strong fundamentals, and the bonus is a very high dividend. Sitting on the side-lines for the last few weeks was a mistake, as it has risen around 30 since! Took a nibble a short while ago, and look forward to holding.
Look at the interim accounts for 2020 - in the WEAKER half of the year, they have done $11.5m operating cash flow, exceeding 2019 by some margin, and 2019 did $20m cash flow for the full year.
This is a highly cash generative business, which will now be debt free this year - the dividend is only going up.
Guys, if you are looking at 'cash in bank' at year end balance sheet date to determine whether or not the dividend is covered you are misunderstanding the business.
1) Cash flows are highly seasonal - STCM sales, revenues and cash flows come predominantly in the summer months where construction demand peaks.
2) In 2019 - the net operating cash flow was c$20m - from that they spent around $2m on investment capex and the rest was used to pay down debt (now almost gone) AND a dividend of 3p (costing around $8.5m).
3) I am expecting similar or better cash flow for 2020 - so it doesn't take much logic to see with $20m cash flow how they can easily cover a 5-6p dividend?
I used to hold 60K shares bought at 29P 18 months ago I got good divi last year so seeing the predicted Divi of 12% is not covered decided to off load half of my shares when they hit 46P for a decent profit and kept the rest to see how this years divi will be
So I think this way I have made good money either way
I hold these shares too, but on the flip side looking at the predicted dividend the dividend cover is less than 1 (i.e they do not have the cash to cover this dividend) so the 11% forward yield does not really look sustainable.
Stockopedia rating is a .... “Super Stock”
https://www.stockopedia.com/share-prices/steppe-cement-LON:STCM/
Not only does Steppe Cement look good on fundamentals and as a dividend play but it's worth bearing in mind that anyone who bought in here since Feb 2014 is now in the money (not including the 9p per share dividends received in that period). That means most holders have that nice warm feeling of being in profit. If the share price goes through 50p it will be at a level not seen since February 2011, more than 10 years ago.
Why they don't rename Global Cement magazine to "There is Mortar Life" is beyond me! Extra marks for pun titles...:-)
Just bought in on Monday and already loving this share (increased holding on both Tue & Wed also!) seems there’s a lot of optimism towards an increased dividend, excited to see the final results!
All the best.
Interesting article in Global Cement this morning.
https://www.globalcement.com/news
Good read from Stockopedia we wait for Div announcement.
https://www.stockopedia.com/articles/what-will-move-the-steppe-cement-share-price-212194/
Well done to holders here, I researched this company about 12 months back saw it was on the verge of being debt free and looking good, dividends etc.
Liked the fact it is anti the Co2 brigade, as per oil etc, plus cement is in demand locally and for export to neighbouring countries, however got sidetracked elsewhere, although still watch the progress of the company.
I saw that drop and rushed to buy only to find 7 percent up not 45 percent down!
saw the large price drop on yahoo finance and got a shock. Looked at the level 2 consol there's no significant change.
There looks to be a trade placed at for 21.50 which looks to have been removed since? That may have temporarily brought down price?
My stop loss thankfully was not triggered!
Ok seems a false alarm. Google Finance showing as 21p but other sites still showing correct price.
Those trades are showing on google and ADVFN, but as you say the real price is low 40's. Someone's made a mistake somewhere.
Why the sudden 45% drop?
I suspect this is a glitch with HL...
The SP is showing a sell price of 41p, yet indicating a daily fall of 45%. If I tried a dummy buy/sell the prices are 41p/43p respectively (as I would expect).
Can't see anything adverse on Twitter nor ADVFN.
As I stated, I suspect a glitch on HL . Anyone else having similar issues?
Also reached new 12 month high beating the close of 40p in Feb. If we can clear 43.5 that will be a new 5 year high taking out the previous one in May 2019.