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I've just bought at 231.8p to restore my original holding in the hope that once the SD arrives in people's accounts a lot will re-invest and push the price back up. Hoping I don't regret it, time will tell :-)
GLA
Easy 10 percent in a week
Don't like to have an uneven amount of shares as I currently have in my ISA, but haven't sufficient cash in the isa today to make a further purchase.
May contemplate a further purchase outside ISA if this drift continues.
When you do the maths, there is absolutely no advantage to the SP decline except perhaps a that re-investing the dividend will give you more shares. The special divi and 15 for 19 shares evens itself out and in theory, the SP reduction should have been zero. Must be market forces at work.
It is good to see the share price declining, hope for it to continue a while longer. Will reinvest the special dividend and, at these prices, may become better off than pre special dividend and consolidation.
Good morning Spindler,
It's uncharacteristically quiet on this board this morning!
To my simple mind you're not missing anything. I'm inferring from your posting history that you sold out of Tesco completely, some weeks ago. Assuming that's the case, then:-
On the upside:-
(i) You've avoided any potential income/dividend tax implications from the Special Dividend.
(ii) You got out at a favourable price compared to today's price.
(iii) You save enough to compensate for not receiving the Special dividend by now only having to buy fifteen-nineteenths as many shares to restore your full position wrt "normal" dividends going forwards.
On the downside:-
(i) You may have incurred dealing costs (depending on type of brokerage account/platform) to sell, and you may incur dealing costs to buy back in.
(ii) You will incur Stamp Duty charge to buy back in.
To me, it's as simple as that.
Mike.
Now 2.35 strewth I'm not invested here currently but this should be 3.35 ! What is it with this Share ? One of the few companies to be trading like no tomorrow in the weirdest economy since ww2
oops 10p above current share price
Btw those that have sold out pre consolidation have lost out on the "no drop in share price" gain and subsequent promising final divi in Early July.
Am i missing something I sold 1p above current price and can buy back in for July divi anytime I like ? I probably won;t as I dont trust this SP not to slither down back towards 2.07...it shouldnt but it shouldnt have before
ECR
''rather than be forced into buying back my Tesco holding shortfall. ''
you haven't got a shortfall. The number of shares that make up the market cap is irrelevant.
You retain exactly the same percentage of Tesco, it's only the value of that percentage that has decreased due to the fact that money has been taken out of the company and given to you.
A reinvestment of the proceeds would increase your percentage ownership of Tesco over what you had before.
I'm taking the SD proceeds on 26 Feb and looking at the wide open market for another "low Covid share price" rather than be forced into buying back my Tesco holding shortfall. Unilever looks a very safe bet! Let Tesco compete with the other titan market capitalisers .....
Btw those that have sold out pre consolidation have lost out on the "no drop in share price" gain and subsequent promising final divi in Early July.
thanks Tigra. I'll check on the 26th Feb and see what the value of the remaining shares are once payment has been made :)
mpw
That's good.
The non panic is over.
Another poster on here was more concerned.
P100
''I fail to understand the logic of this process adopted by the Tesco Board. ''
Will you understand the logic of the process adopted by the Tesco Board when they return proceeds to shareholders via the final dividend ?
LTI, just checked online and it’s now showing the correct number of ‘new’ shares in the ISA and it looks like I could buy but would be unable to sell... They’re getting there - slowly.
mpw
I wouldn't know whether our purchasing on Friday has caused a problem with the old shares as yet not being consolidated. I got a letter from HSBC last week saying that they were going to suspend trading on Tesco at 16.00 on the Thursday.
When I was able to purchase the following day I had assumed they had the wrong date on the letter, whereas maybe the error was the system allowing my purchase on the Friday putting a spanner into their planned procedure. Who knows, it's not a problem unless the share price drops a lot and I still don't have the option to buy.
I have sent a massage to them via 'HSBC invest direct' to escalate the issue. They are investigating.
236p Blimey..Blink you miss it.
Could have nabbed an extra 0.5% on my buy today.
Never mind. The ongoing CV19 Recovery and reinvestment uplift should cancel this out. We'll see.
Cheers & GL
p100
''I’d be more worried because they will be diluted at 15/19. ''
I already had shares. The purchase on Friday was so that I had at least the number of shares
that I had BEFORE consolidation. Hope that is clear
LTI, I use First Direct sharedealing so that’s HSBC. My S&S ISA is not yet updated ref the share consolidation. The ‘old’ shares are sat there but I can’t sell them - not that I’d want to do that at this time. I could buy some ‘new’ shares if I wanted to, I think. It’s strange that HSBC is so far behind with this. Like you, I topped up last Friday and I’m wondering if that’s got something to do with the delay...
Stoopo tell your wife she`s right Everyone got" had " by the special dodgeydend .
And DOWN she drifts !
I'm swithering on buying today, one thing I've learned is when you think Tesco can't drop any lower - they can! I'd be happy buying in at 236, that's 10p down on what I sold last week and have moved the capital into an ISA ..
Dear Longtime. If you purchased last Friday (as you say) I’d be more worried because they will be diluted at 15/19. You should be buying today. My previous comment stands and is reinforced.
P100
I use an excellent platform ( HSBC invest direct) apart from this one issue about the consolidation not having been sorted out. Not enough of a 'problem' to worry about.
I had already made a purchase last Friday at a bit below the current level so it's not an issue.
It would only be so if I were not able to purchase at a lower level due to the delay, in which case I would seek compensation.
So I'm a newbie but mainly hold for long term growth and investment. I have H and L and Equiniti account for my tesco shares. Can someone shed some light into this recent news about Tesco. I had 1500 shares and was delighted I'd receive 50p per share from the special dividends which equates to about £800. I had my shares since 2007-2008 up until now when i used to work for them and they were doing BAYE/ SAYE schemes. They were at £4.30 at their peak and I had an income of under £200 a year from the dividends but now just holding them in the long term in the hope they get to this amount again then sell. anyway I am now down to 1,184 239p at a cost of £2,829.76. apparently it costs £112.67
£2,717.09 2411.55% ? although I did own 1500 shares. does anyone know what will happen? will I receive the special dividend on the 26th feb and what will happen to the share prices? Am I at a loss/gain?
PS i have chosen to take all the dividends out as cash as I don't trust what is going on