Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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25% for 1.2billion x4= 4.8 divided by 468 million = 10.25 per share - 1.06 special and 22 ordinary divi = 8.97 per share after all deductions
Unless my figures are wrong
Do feel price as been tampered with for reasons beyond our contol
The Americans will snap this bargain up in the next year
GLA
AFC
What a mess , share price right down , family silver now sold or in my view given away. Berenberg says this is what investors have been waiting for, I don't think so !
Analysts at Berenberg said: “This is the transaction investors have been waiting a decade for.”
Hampton said that the joint venture would also reduce the company’s exposure to volatile commodity markets and bulk ingredients in North America as the business would now be focused on higher-growth emerging markets.
The deal will result in investors receiving a £500 million special dividend
Nick Hampton, chief executive of Tate & Lyle, said: “With the pandemic accelerating the trend towards healthier food, now is the right time to focus our business on capturing this growth.”
Tate & Lyle said that the repositioning of the business would result in revenues growing by mid-single digits now that the group was no longer held back by flat growth in its primary products division. The business will still receive a dividend from the joint venture, which will help with cash flow, provide stability and increase the innovation investment in its food solutions division.
The more businesses we sell to foreign hands , so the profits go abroad , the less income we have for Boris to squander on rubbish boys toys. HS2 comes to mind , which should be cancelled , and the new underground which is totally out of control on costs and time scale. Don't forget the new Royal Yacht for Boris and other wasters to sail around the World on . ( £500 Million at a guess ) Perhaps we could put the surplus Royal Family hangers on , and many Royal residences up for sale and save some of our over taxed peoples money. I take it that the triple lock for pensions is being attacked and cancelled to pay for this rubbish.
Not always shafted !!
Vectura worked out well
Only a small number of shares in this company also
GLA
special dividend and consolidation.... normally means shareholders get shafted, going by my recent Tesco experience. I think i'll be moving on before the consolidation thanks.
So sale goes through and a sweetener for shareholders in the form of a special dividend. But you can’t keep selling assets, eventually you affect your ability to earn.
Not a happy bunny this morning . Predicted this was going to happen .
22p ex dividend on 24th. Naturally we’ll get the share price dip, but I’d like to see the return to£8 at some point this year
Another great British Company being slowly dissolved , and taken over .
Only a share of it
Maybe a controlling share
Sweetener business will be curtailed slowly but
surely why not take the readies now
A third of the market cap
Hampton his a shrewd sugar free cookie lol
arsenal58 - They haven't managed to sell yet - Tate & Lyle on Monday confirmed reports it was planning to sell a controlling stake in its primary products division to a "long term financial partner".
The 100-year-old firm said it believes that if a deal was completed it would enable Tate & Lyle and the new business "to focus their respective strategies and capital allocation priorities and create the opportunity for enhanced shareholder value".
"Discussions with potential new partners in the Primary Products business are at an early stage and therefore there can be no certainty that a transaction will be concluded," the company said in a statement.
The primary products division, which took £1.8bn in revenue last year, makes commodities like artificial sweeteners and industrial starches.
Reports suggested a stake sale could be worth up to £1.2bn and that US private equity giants Apollo Global Management and Cerberus had held talks with Tate & Lyle over the sale.
BARCLAYS CUTS TATE & LYLE PRICE TARGET TO 870 (875) PENCE - 'OVERWEIGHT'
Frank
They haven’t sold any assets in fact they have bought companies in Asia
You can’t keep selling off assets eventually they run out.
I don't get it either. All I can think is that people build up unrealistic expectations, when they expect the worst from M&S and it isn't as terrible as they feared. So extremes both sides. Also if a company does well with the pandemic, they seem to think it won't possibly last, that we're all sitting eating bags of sugar at home, and after the lockdown we will eat Percy Pigs, or something.
I agree ,mind boggling that they sunk today . I promptly bought some just before the close .
Tate and Lyle are doing well during frightening times , and making a good profit , and giving an increased dividend , so the shares go down over 5% ! Marks and Spencer results were terrible , and the price soared , the world of finance has really gone mad .
Always beware any results announcement headline with the adjective 'robust' in it.
gap to fill at 767. if they dont support it there you are looking at 750p
Never expected that chance this morning lol
Financial highlights
· Food & Beverage Solutions profit2 +12% to £177m; +3% volume and +6% revenue
· Sucralose profit2 -9% to £55m reflecting pricing pressure and higher production costs
· Primary Products profit2 +5% to £158m with Sweeteners and Starches -13%, Commodities +98%
· Group adjusted profit before tax +6%
· Adjusted diluted EPS +12%, benefitting from lower effective tax rate of 14.3% (2020: 17.9%)
· Group statutory diluted EPS +3% after exceptional costs to explore separating businesses and for productivity
· Adjusted free cash flow +£3m higher at £250m
· Net debt £34m lower at £417m; Net Debt to EBITDA ratio 0.8x
· Strong return on capital employed of 17.2%, a 30bps decrease due to the short-term impact of acquisitions
· Final dividend increased by 5.8% to 22.0p, making a full year dividend of 30.8p, up 4.1%
Good performance on the back of such a tough 12 months. Balance sheet looks in good shape, dividend up, sale pending.