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Sainsbury up 6p, Tesco up 5.5p. Can not see an obvious reason.
A good increase today, good to get news of the special dividend soon.
The dividend pay date is 03/07/20
Ex - Div date 21st May?? 6.5p per share held at C.O.B 20th ? Is that right? When is the Div paid out please?
Tempting to plunder my Tesco's holding and buy into LLOY or BARC (both up over 7% today) but I will resist the temptation, firstly it is still early days for the pandemic, if lock down is relaxed and there is second wave of this virus this will look like a "sucker rally." Secondly the share price has held up well and it has nowhere to rise back up to. Many other companies shares have halved and it is bargain buying that is moving them upwards. Still at lot of unknowns for all countries effected, we will see how it plays out over next month or two. First the virus problem then the economic problem. All in IMO.....
Spread
Worth a listen and spread round imo https://www.youtube.com/watch?v=XddHTPNLPLY
I think if the FTSE is doing well, TSCO will be either flat or negative. The stocks being driven up are moving on the belief that the 'worst is over' & we will be back to BAU soon. Unfortunately, that is simply not true. Very few companies have increased revenue as a result of the virus. Look for value elsewhere, but be not surprised when you get taken to the cleaners on earnings.
Another good day for the ftse and this dog has barely flinched.. going to seriously contemplate selling a couple of thousand in the next few days as as I’ve said before I do believe the Special dividend and dividend is holding up this share price and better value is to be found elsewhere.
Profit margins will be slim short term but 585 million business rates relief coupled with fewer promotions lower fuel prices and increased trade will off set a lot of damage tesco will be very careful not to be seen as thriving during this crisis but the fact of the matter is tesco is smashing sales budgets and when the new norm sets in eg increased home shopping sales and folk reverting back to doing large one off shops going where all is available tesco is really well positioned to take advantage profit will balance out by year end and when we come out of this a real feel good factor will return which means higher sales and normal profit margins resumed one of the safest dividend stocks buy buy buy..
Well I hope this is explained to share holding colleagues simply. Wouldn't want them to think that the company has nicked their shares :-)
Well I think they will pay out the special dividend which currently is forecasted to be 50p. So say the share price is 250 it falls to £2 I would think they will do a 3 for 1 to take it to £6 as currently there is 10 Billion shares in circulation of which only 2.7% ish is held by private investors ( if you look at page 160 area I think of the 2017/18 report it tells you the percentage of shareholders of which there was something like 8000 that held over 10.000 shares and 614 with over 50000 and so forth ( now just a thought here maybe there is a special meeting or get together of shareholders of over 10,000 or 50,000 that Tesco don’t want the big saye folk that now get in to this category to attend !) I remember on my dot com round there was a fella who had a million shares and our old store manager ( ****) would make us make sure his shopping was perfect! Question is how did he know? ( maybe some of our manager friends know “poker chips can shed light on this area at all “)
The 50p special dividend. Has anyone understood the full document on the web site? I have read it a couple of times and still can't work out whether it is 50p per pre-consolidation share or 50p post-consolidation share?
My understanding of the wording is that Tesco does not want to see 50p shaved off the share price come ex div date. This would bring it down to £1.80ish at the current price. To maintain the sp at £2.40ish it would mean replacing four shares with three shares.
Dividend, how do you qualify, do you have to have held for 1 year?
Completely agree. I am a manager too. I am a little worried about costs, are many of your colleagues sick & out of work?
Can't understand why anyone would be selling this share with special dividend due I am a manager with Tesco and see some sales figures just a few regions mind you but we are still absolutely smashing sales and some dot com stores will see a 100% uplift in sales great share to be in next stop 280.
Thanks Roswell,
Informative post. Have to wait and read the small print.
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Re Share consolidation and special dividend. The text says:
"Return of proceeds to shareholders
It is currently expected that the return of proceeds to shareholders of c.£5.0 billion will be implemented by way of a special dividend. In order to maintain the comparability of the Group’s share price and per-share metrics before and after the return of proceeds, the Company also intends to undertake a share consolidation in conjunction with the return of proceeds. It is expected that full details of the return of proceeds and share consolidation will be made available to shareholders shortly after Completion, at which time a separate general meeting will be convened to seek shareholder approval for the return of proceeds and associated share consolidation. "
We will have to wait and see what that means. Just fingers crossed that the Thailand and Malysia authorities give the go ahead. Given the "Kitchen of the World" vision of the new (hopefully) owners, will it be viewed as anti competitive.
HSBC RAISES TESCO PRICE TARGET TO 280 (250) PENCE - 'BUY'
Ventured out to Tesco yesterday , and was very impressed with the care they are taking with the customers , and their staff . Trolley was wiped down , our hands given a good spray , and the layout with directional arrow markings on floor explained , and then told where we had to queue ready for paying. Well done Tesco .
"ex employe, best company I have worked for and would still be there if not made redundant."
No. Loyalty works both ways and there sure as heck no loyalty coming from the company.
Does anyone know if there are special conditions attached to the circa 50p special div? I.e when you held the stock? Or if you bought now would you still be eligible for the special dividend (if the sale goes through of coarse)
Long term tesco holder and ex employe, best company I have worked for and would still be there if not made redundant.
No chance. We’ll get 50p a share imo.
Well worth holding just for divs and special divs now
Are you saying the special dividend will be taken back in a share consolidation? So in effect you get nothing ?