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Stock STEPPE CEMENT ORD NPV
Event Type Cash Distribution
Description Cash Distribution
Record date: 28th May 2024
Terms: Approximately GBP0.015 in cash for each share held
Pay date: Expected 6th June 2024
Steppe Cement Ltd has announced a capital repayment, whereby Holders will be issued with approximately GBP0.015 in cash for each existing share held. The record date is the 28th of May 2024
The payment will be issued to entitled shareholders upon receipt from the company.
Now how do we play this? If volume goes up before the record date people buying for the payout is be tempted to sell if the price goes up and the spread narrows otherwise you could end up with a sharp drop come ex div day and once again low volume and a huge spread. Depends if the volume and price go up and the spread narrows really otherwise may as well hold and take the payout.
Hopefully, maybe, fingers crossed etc, there should be another payout this year so I wouldn’t be to hasty to sell up, maybe, hopefully etc…. :)
Well unless the spread narrows, volume increases and the sell price rises we are kind of stuck. My concern here is that the price drops after the 28th - we shall see.
How do we play it? As stated earlier I am buying.
Looking at the data I think we'll have a strong summer and the trading update will be positive with the expect increase in demand and price coming through. All economic indicators from the region point to continuing strengthening and growth. The payment of the 1.5p suggests that the business has no surprises, cashflow wise. We took a lot of production cost in the last period, but chose not to sell the product at a price which would impact margins. So as long as we can shift the product at the right price (and that was the call of the local management) an update should be positive and returns can again be paid to shareholders. Here's the local data https://www.imf.org/external/datamapper/profile/KAZ
Been in this one a long time and still optimistic the good times will be back. Will add if significant drop in SP. When/if sales pick up and divi returns we'll all be happy bunnies.
Whilst it says 16p-19p here. I am getting live prices of 17.75p to sell - 18.75p to buy. The spread here does not reflect the live and it is more in line with the normal spread.
I think it likely that there will be a fire sale on Tuesday the price will go through the floor. I hope I’m wrong and people hold the shares for longer being tempted in by the payment. If the sell price reaches a decent enough price today (21-22p) I will reduce my exposure and risk a bit I have too many of these shares. If it doesn’t rise enough though I will just hold them I’m not giving them away for a rubbish price.
However there is a strong counter-argument to this. People that have bought shares for the payout may be unwilling to sell them again at such a huge spread and make a loss larger than the payout. That may lead them to hold and take their chances. Hopefully this will be the case and there won’t be a big drop in price come Tuesday . I’ll still offload a few if the price rises to around 22p though but will hold a lot too.
Looks like I’ve got myself in a right mixup with all of this. Apparently the ex div date is today not Tuesday as Tuesday is the record date. So basically it’s very good news because the price is still rising and today is the ex div.
I think the 28th is the ex dividend date even though it’s not really a dividend.
That’s what I thought too but it isn’t the ex div day is always before the record date so it’s actually today. If you buy today you won’t get it for those shares.
Looks like everyone else also thinks its ex div today too - maybe it is - Usually ex div is working day before the record date though which is today.
Received into my account this afternoon.
Not had my distribution in either HL or Iweb. Iweb say they have not received the money. No answer from HL.
Nothing yet for me either but I’m with Freetrade. Brilliant value for trading but tend to take their time with dividends god knows how they will handle a “special distribution”