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Dan, take those Rose tinted spectacles off and look at the 5 year chart...it's frighteningly bad 235p Nov 2017....95p Nov 2022..the chart doesn't lie! Buyers have run for the hills, it's as obvious as the nose on your face is it not?
https://www.lse.co.uk/ShareChart.asp?sharechart=VOD&share=Vodafone
Well Dan, I don't remember you calling this from 235p down to 95p...and the 40% reduction in the dividend over that last 5 years ( real drop of about 55% if you take inflation into account)..The eye watering Debt of €45 billion is crippling this company imho Adyor!!!..
moniman. " Aimho!" Nothing humble about your opinion!
Also if the Debt did rise to €50billion and SP fell to 70p I'm not sure how the Debt rating agencies would feel about that as the Debt to Capital ratio would be eye-watering? Aimho!
If the current trend in Debt, Divi and SP is maintained from 2017...you might still get 7% but the Debt might be €50 billion, the SP 70p and the Divi 6p...BODs salaries +25%...not a great recipe that would be if it played out?...just a thought. Aimho Adyor!!!!
Dividend allowances cut.....oh dear, not good
Hello Mole. Surely it is net debt that counts? & why pull gutter snipe up for talking in £ not euros, Vod's net debt is about £40k. Perhaps you should criticise the L.S.E. as well for quoting the sp in Sterling?
Sorry velladean. For £65k I meant £650k & for £35k I meant £350k. I was going to say, where do you live, a house for £100k? I wish houses were only a £100k, more for my children than for me. Have a good day.
When I read posts like yours, it actually encourages me that Vodafone is at the bottom and can only go higher from here. A lot of posts encouraging investors to stay away is usually a contrarian indicator for share price direction. As a retail investor I own a lot of Vodafone stock, and although I've recently been topping up elsewhere, and just holding VOD, it doesn't mean I don't see value in the current price.
As I've pointed out previously, there's a contradiction between the valuations of established Telecom players and the amount of cash venture capital and private companies are injecting into building or buying infrastructure. If the established players are so bad, why is private investment into Telecom infrastructure build so healthy?
In my opinion, with so many big market players injecting cash into infrastructure, at the same time established Telecom companies have been under sustained attack by vested interest market forces. Could it be that these market titans are devaluing Telecom stocks so they can pick off chunks of infrastructure at knock down valuations? By keeping share prices down, it lowers the opportunities for raising capital through rights issues, effectively closing off one source of raising capital, so there is good reason for significant market players to hold down Telecom stock prices.
If anyone wanted proof for what I'm thinking, I can give a few examples of events shaping my view:
Telecom Italia have been pushed into merging its fixed network assets with Open Fiber, involving various investors including state-owned CDP, Macquarie and KKR. KKR actually attempted a full takeover of Telecom Italia, which would likely have led to a full breakup of the company, no doubt leading to big profits for KKR should they have succeeded.
Private Equity has been mopping up mast infrastructure everywhere, one example is the recent Vodafone deal around Vantage Towers, involving KKR and Global Infrastructure Partners.
A few years ago, BT were approached by a group of investment funds to persuade them to sell a percentage of Openreach, which appears to have come to nothing. Since then, there's have been various articles pushing more regulation on BT and Openreach, as well as articles targeting BT's duct and Pole infrastructure for separation.
Just my opinion, but Telecom stocks are currently undervalued, at some point that'll change as these significant market players will need to hype their own investments.
It may go down it may go up, but if you look around in this market you’ll find stocks paying similar divs but with a better chance of also preserving or increasing the capital.
The issue with holding VOD since 2018 has been loss of capital, and I still can’t find the reason this trend has turned yet.
Thanks for that. Think I'm persuaded not to buy now. It's over 1p down already today after a good day yesterday.
This may help. It is €45bn net debt, not 40, but they are actually juggling €75.5bn of borrowing.
The result of this is having to sell off key assets like towers that they will have to rent back, and doing the deal in uk with three that will reduce the share of uk market but offload some debt.
Throw in staff reductions and cost cutting and they seem to be looking to shrink to survive.
But hey, as long as current investors and directors get that dividend it’s ok right?
So tempting to buy into these but the 40 billion debt is scaring me away. Punch me in the head if I try to buy any mum.
The big % dividends has just reduced the SP by a corresponding amount plis.more it appears..and the rising debt appears to be causing the dividend to be reduced or frozen over the past five years.. Five year performance...November 2017 SP 235p, Annual Divi circa 15p, Nov 2022 SP 95p, Annual Divi circa 9p....so for 57p in dividends the SP has gone down by 140p? Can't remember if any special dividend paid during that period, someone will enlighten me? Where is this all going?.. during that time how much have the BOD been paid? Aimho Adyor!!!!
Thanks Danielh (Sorry for not replying sooner playing golf yesterday and got stuck at the 19th hole) But do you mean 100k not 1m makes sense at 100k
Being with vodafone for years and smiling makes me wonder. You must have lost around 40% of capital value. You also have a dividend now on 90 rather than 1.40. Also have a lot more debt. Tighter maker with interest rates
As they say futures not bright the futures not orange and not vodafone.
Gary59……….what a lit of twoddle you talk! I have been in VOD for a good few years now and have never witnessed such falls post ex div. I can only guess you are trying to get in on the cheap…….as for debt it really is no big deal, if it was this really would have tanked. All big companies rely on huge debt to assist their expansion.
In my opinion VOD is dirt cheap now and a pretty rick solid investment going forward.
One point that seems to be have missed by posters on forums such as this, but not by the market, is if you look at free cash flow the next dividend is being paid for by debt. So it seems that Mr Read and his BOD are quite happy to add to the debt pile. My own take is that had they cut the dividend this time round the SP would have tanked more than it did. As for buying before XD day VOD’s SP has a habit of reducing by 7 to 8% when it goes XD so be careful out there.
Thanks to you all that replied, will try to get in sooner to rather than later. Hopefully at or near the bottom, accepting that many on here think it’s not yet bottomed out!
Apoligies ..... ex-dividend 24th Nov ..correct
https://www.lse.co.uk/rns/VOD/half-year-report-bdxtl55hncka401.html
The interim dividend per share is 4.5 eurocents (FY22 H1: 4.5 eurocents). The ex-dividend date for the interim dividend is 24 November 2022 for ordinary shareholders, the record date is 25 November 2022 and the dividend is payable on 3 February 2023.
Copied from RNS so these are the dates
Mulder. Last thing I heard, the activists were very supportive of Nick Read. Have you heard anything different?
Robleo , your quite right on both your points ..buying after ex div dates , pleased dividend was held , just trying to be positive for a change...
Season of good will
according to Hargreaves, Interim ex-dividend date
24 November 2022