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Glad I sold mine last week . Good timing for once ! Feel for you .just about covered my costs with the divi but the way things are going I'd rather that tbh .
What is the point of paying a special dividend and reducing the number of shares investors hold just to maintain the status quo?
It's jobs for the boys, all that paperwork.
I feel it would have been better to just increase the ordinary dividend then have a share buy back or pay off debt if there is any.
My personal thoughts are that we have all been done over at this current time. Despites tats intentions to give somehting back to its investors the market has milked it.
The special divi has eaten away my £2000 tax year divi allowance and as a longer term investor I should have sold before the divi date as I now have less shares and the loss in value has effectively wiped out the divi payment.
I will hang in and see if the recovery happens, as I still belive the company has good growth prospects but if another stock I hold offered a similar special div i think I would get out.
I think the ‘theory’ is that the price is currently down 114 pence, give or take, (to allow for the drop caused by dividend) and so as with most shares after divi the price drops but slowly recovers back to where it was/ should be. The consolidation ‘theory’ is that less shares should mean each is worth more hence the ‘theory’ that it should recover the ‘cost’ of the divi. But that’s all ‘in theory’. Personally, I’m not sure they shouldn’t have left well enough alone and used the money to invest in the company or raise the dividend more slowly. When the divi is paid, however, one can only hope this pushes the price back up a bit as people reinvest. Still got my fingers crossed with a tiny bit of profit on the deal, but current climate and anxieties are not working in our favour. Hey ho. Don’t know what other people’s thoughts are on this?
No, you didn't misunderstand it. As with so many ideas, it was fundamentally based on guesswork and, as you correctly surmise, it has failed by quite a large margin.
We have been done.
As I understand it the whole idea of the Share consolidation was that the share price would stay about the same when the special dividend was made, if so it singularly failed or did I misunderstand it?
They popped up today and I offloaded just at the right time. Just waiting for my divi now
The dividend is paid on the amount of shares you had on 29th April
Consolidation happened on 03/05/22
Payment of dividend 16/05/22
Thank you all!
the post i made on Monday was an email form HL, so all official. Anyway as i said im out now, special divvy was enough, chuck my money in somewhere else now
https://www.tateandlyle.com/investors/special-dividend-and-share-consolidation
Don't know if the link will work, but that is what I was looking at
Hi PavGun, it's on the original (non-consolidated) amount of shares.
My understanding is that it is paid on your original holding.
I was gooogling that ponit myself and I was lead to a part of the tate website that included a link to a pdf document that explained the sequence of events.
As I understood it the special div gets paid and then the consolidation happens
whatever u held last friday at close of play
Thank you thebogis
could you please clarify if the special dividend is going to be paid based on the original(non-consolidated) or consolidated number of shares?
thank you!
ate & Lyle plc wants to return approximately £500 million to shareholders via a special dividend.
This will be a one-off payment, of 107p for each share held at the end of 29 April 2022.
When a company pays a special dividend, it’s normal for the share price to drop by the amount that’s returned per share. Tate & Lyle plc wants to keep the share price roughly the same before and after it pays the special dividend. To do this Tate & Lyle plc will reduce the number of shares every shareholder owns at the same time. Shareholders will get 6 new shares for every 7 shares held. This won’t make a difference to the overall value of your holding – the total value of your new Tate & Lyle plc shares plus the special dividend should be similar to the value of your current holding.
Correct . U have to hold the shares at close of play today to get the special divvy
You won't get dividend if you takeout today
If I take out today do I still get the dividend can anyone confirm to me. Thanks
SP need to go to 885 after the share consolidation to break even, with the divvy as a bonus, i am sure as the ex day is today that come next tues the consolidation will also have taken place, this is to stop exactly what ur saying, peeps taking the divvy , selling , and buying back in
we get a 1.07 divi, but our shares drop in value/amount held.
which is then sort of compensated for by the special divi,
but taking into consideration cost incurred dealing and mms gap, all will be out of pocket unless SP goes well up. like over a £
seems best way round this is to sell as soon as possible before the SP tanks due to consolidation,s nefarious effects can take place
Then buy back in at a lower price, with the monies coming in from the divi.
this way, you got the divi, and a lower price and not lost out.
Thanks scratch
Tuesday is ex div
date for Ordinary Shareholders for entitlement to the Special Dividend and for the Share Consolidation
6.00 p.m. on 29 April 2022
Founds this on RNS
ord time and date for Ordinary Shareholders for entitlement to the Special Dividend and for the Share Consolidation
6.00 p.m. on 29 April 2022