Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It knot lookin goode agane sadley.
Culd be tyme to buy moore.
I is stayin on the side line.
Lower dividends from next year
"next year"...... starts with the H1 dividend for H1 ending 30th September 2024 (this year)
they say "next year" meaning their new Financial Year FY25 which begins in April 2024
70p
What pensioner goes from the high risk of investing in a single stock for its dividend yield, to the security of an annuity and loss of capital?
Vod closing Sp 22nd March
George 73.45p
Suiris 72.50p
Shan999 73p
Exil 68p
Curtin 73.1p
Davef 63p
Added to list Entries by 12pm Mon Atb
The lower the sp stays the more of the outstanding shares the company can scoop up. When the elephants in the markets realise the untapped value and ROI, the sp will be well above 100.
Or it could be that telecoms are getting hammered today!... Check BT share price
I do like the way they snuck in the inevitable div cut under the guise of a capital allocation program. It’s so 2018.
Any pensioners out there using this for income do the calculations in selling up and converting to annuity. Getting quoted 6.6% at the mo.
Not financial advice of course.
Is it being pushed down this week because they know Friday is a going to be a good news day?
https://www.gov.uk/cma-cases/vodafone-slash-ck-hutchison-jv-merger-inquiry
Capital allocation review
Vodafone has conducted a broad capital allocation review, considering the investment profile of the Group's strategy within its reshaped footprint. This review has concluded the following key outcomes:
· country-level capital intensity to be broadly maintained at existing levels;
· maintain robust balance sheet with new leverage policy of 2.25x - 2.75x Net debt to Adjusted EBITDAaL, targeting to be in bottom half of the range;
· FY24 total ordinary dividend expected to be maintained at 9.0c per share and ordinary dividend to be rebased to 4.5c per share from FY25 onwards;
· targeting total return increase to ?3.1 billion for FY25, comprising ?1.1 billion ordinary dividends and up to ?2.0 billion share buybacks following completion of the sale of Vodafone Spain; and
· opportunity for further share buybacks of up to ?2.0 billion following completion of the sale of Vodafone Italy.
The total net cash proceeds from the sale of Vodafone Spain and Vodafone Italy are expected to be approximately ?12 billion, subject to customary closing adjustments. Following an extensive review of our capital investment requirements, the current capital intensity will be broadly maintained by market, which allows for appropriate investment in networks and growth opportunities. A new leverage policy of 2.25x - 2.75x Net Debt to Adjusted EBITDAaL will be adopted and we will target to operate within the bottom half of this range. The new leverage policy supports a solid investment grade credit rating and positions Vodafone to continue to invest for growth over the long-term. Vodafone has a debt structure with a weighted average life of 12 years, and fixed weighted average cost below 3%.
Reflecting the composition of the Group for FY24, alongside re-iterating FY243,4 guidance of Adjusted EBITDAaL of c.?13.3 billion and Adjusted Free Cash Flow of c. ?3.3 billion, the Board's intention is to maintain the final FY24 dividend in line with the prior year at 4.5c per share (annual total dividend: 9.0c per share). Following the right-sizing of the portfolio as a result of the Transaction and the sale of Vodafone Spain, the Board has determined to adopt a new rebased dividend from FY25 onwards. The Board is targeting a dividend of 4.5c per share for FY25, with an ambition to grow it over time. The new dividend has been set at a sustainable level, which ensures appropriate cash flow cover and sufficient flexibility to invest in the business for growth.
The Board has approved the capital return through share buybacks of up to ?2.0 billion of proceeds from the sale of Vodafone Spain. This is expected to commence following completion of the sale of Vodafone Spain. The Board anticipates the opportunity for further share buybacks of up to ?2.0 billion upon completion of the sale of Vodafone Italy. It is expected that the total return to shareholders for FY25 will be up to ?3.1 billion, representing ?1.1 billion in ordinary dividen
Annual dividends to be rebased to 0.045 EUR from 2025 vs 0.09 EUR currently.
Reasons for drop today.
Starting to wipe out gains within a day of announcement - typical Vodafone.
My explanation:- on paper it looks OK so immediate reaction is positive. Market however has no trust in the management to execute the plan so as soon as price is up too many investors sell up.
Just look at the comments on this board - how many would give their right nut sack just to reach their break-even point and walk away. Not enough investors actually want to be here in 3 years time expecting solid returns.
IMO, this is down to the board and their lack of vision. Hard to get excited about a business when the best announcement is selling core business units and doing buybacks. Or job cuts and another partnership with Accenture (look at the management gravy train between Accenture and Vodafone if you think this is not cronyism - they've been doing this since 2010).
What would happen if Apple or Netflix announced they can't make a profit in Europe so they need to cut back and focus on other markets. There would be a plunge in share price, a change in CEO to one with new ideas and better promises and a solid recovery.
Like with BT, main hope here is eventual takeover and I do think this will come - only question is at which level. Without some change in how business is done, this will continue drifting.
Oh yeah,it says purchase in the RNS!
Is it a buy? Why does it say zero holding?
How does a RNS distinguish from a buy by the individual and not just shares that form a part of their salary package?
63 on this **** share
73.1p for me please Roofer.
68p for me please Bob
A mighty share purchase by the CFO, as you say. They at least have faith......
Am I reading that correctly ... CFO making a v significant share purchase. That's confidence.
Good to see the CFO buy shares..always a good sign when the money men/women buy in
I'm definitely in the, shareprice going up is good, camp, robleo. I'd like it to go up a lot! 🤞 for some sustained better fortune here.
Garonne, I've worked out a good formula for analysing all these goings on, if the share price goes up it's a good thing if it goes down not good, unless of course your one of those investors who just wants it to go down so you can buy more, so can only speak for myself as i just want to see this go up, 90p would do me to sell off my last batch, so let's hope it's a good week
not had Guttersnipes prediction for next week yet, maybe he will have a look at his tealeaves later on
but best of luck
I'm sure the M&A comission will recommend a further enquiry as it'll make them look like they're taking concerns raised by politicians and UNITE, seriously. The bureaucrats will ensure maximum delay, no doubt.
"So, next week we have the competition regulators who have until Friday to decide whether to launch a further investigation into the deal / merger with Three3. SP to rise if they don’t or vice versa if they do?"
I'd say that it's very likely to go to phase 2, so more upside if it doesn't than downside if does.