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dazz
Not invested here but on my watch list. You will qualify if you hold shares prior to the sale being finalised. The completion of the sale is in effect the ex div date. The question I asked earlier is whether or not that special dividend payment will be subject to tax. I know it will not be CGT as your investment does not gain any capital due to the sp being adjusted down accordingly.
Could do with a poster who has an accountancy background.
What the criteria to receive any special dividend please?
A £580m bonus for shop workers / pickers and delivery drivers makes more sense. Tesco is messed up for paying the Gov who can print more cash if needed.
Hi dadlan agree about Greece however our ratings were slashed a few years back I’m glad we are out of the EU Germany will be bailing out a few more countries soon.
Greece is a poor comparison Johnny, Greece defaults while Britain stands resolute against its debts, that's why Britain at times can have higher debt to gdp than even Greece, while maintaining much higher credit worthiness. Gla
Is the expected special dividend from the Far East sale subject to tax?
Well sorry guys, if dougs 'in' that doesnt bode well.
At the moment interest rates are low this will not always be the case.
The higher the national debt the lower our credit rating.
Look what happened to Greece unable to borrow.
So we will all pay the piper at some point.
Local governments will be squeezed services slashed.
So it’s the right thing to do
Personally I'm proud to own a tiny % of a company that "does the right thing". You reap what you sow. The initial short term hit to the SP will be rewarded multiple times in the future. Well done TSCO.
ABSOLUTE IDIOTS!
Who gives government funny money back?? Don't they understand it isn't taxpayers money its QE money created out of thin air. I am disgusted and sold my shares.
Tax payers money is a strange concept, do you really think the tax payer stumped up this money, or will ever pay this contribution to national debt? Simply they won't, the funds are simply printed or sometimes borrowed money that will never be paid back. The gov debt effectively is never paid back but grows through the decades and centuries, albeit remaining relatively in proportion to gdp. So it wasn't or isn't tax payers money {maybe it was our money} . But I can appreciate its often better to be seen to be doing the right thing even if you don't believe in it or want to do it.... I'm happy to be invested in tesco for now, will invest more once the capital return is out the way, don't fancy paying that additional dividend tax..... If that's how it works out
Good to see Tesco lead by example. Sound justification to return tax payers money and lets hope others within the sector follow. At the end of the day everyone is going to have to pay for the costs related to this pandemic. I for one am glad that Tesco have made this decision though I am sure there are others who will disagree. Well done Tesco.
I think the government should advise the supermarkets to "hold fire" on voluntarily returning the money they received to assist with COVID until one can determine the effect of "BREXIT" on their business since surely there will be one.
We need a BREXIT fund .. so Rikki.. get that cheque book out... Again.
I agree with you. It would look bad if they didn't pay it back, before they pay us the special dividend.
I`m in two minds about this return of Money to the government. There was definately a cost to Tsco due to COVID and this cost (as Tesco have announced) is clearly known, therefore why did they si9mply return the difference between the amount they received from the govrnment and the cost due to COVID ? Surely that would have been the justified, Ethical thing to do ?
Alternatively they could have added the £585 to their coffers and given it out to us deserving shareholders as another dividend ?? I hope they change their minds... why would a company give away money it was seen to deserve. The increase in their business is neither here nor there. I want my dividend. Also as already pointed out this move is paving the way for a payout on the sale of the far east branch... but I thought the flip side of the coin was that the share price would be adjusted accordingly and although shareholders would receive approx 40-50p, the value of shares would drop by the same amount .
Am i correct on this issue ?
Exactly dadean, taken care of by the Asian sale and they figured the headline grabber that will bring the nodding approval of the public going into Christmas will transpire into checkout and net sales. Not coincidence this comes on the day the High St will be swarming with Debenhams bargain hunters and people wanting to shop after a months break.
for doing the ethical thing. It was a Gov mistake (yes yet another one) to lump all retailers together and giving the money back is the right thing to do. Look at how many are going bankrupt?
I agree this is sad news. Aldi and Lidl already pay a lot less in Corp tax and don't need anymore of a competitive advantage. Once again tesco gives away money rather than re-investing and growing the business.
Sad news today with the repayment of business rates, rates which have crippled the more vulnerable areas of UK retail. I personally felt tesco were welcome to the relief, considering the pandemic cost them more than they received. Tax payers money being returned? Nooo its freshly printed boe funny money.
Affect on share price today, should be worth - 2% but the removal of the perceived controversy could balance it out. Hopefully they can recoup this somehow... Must be paving the way for the capital return
Great for Tesco leading the way in repayments of business tax rebates.
An ethical choice by the market leader I hope others follow.
Rosewell .. she's a slow burner this one alright ..
Lurker,
Don't get me wrong, sales are absolutely brilliant (and so are the costs) but there are few other companies I would want to be invested in at the moment.
Paid Friday and reinvested!
Was this paid today?
Hi lurker we are all learning from each other and here to make money I looked at sales for last week in my region and we have absolutely smashed budget Tesco is flying safe bet and still paying divis money to be made here if your patient.