Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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25/3/22 and may have been mentioned since.
“Where the business generates cash in excess of that needed to maintain a strong balance sheet, fund investment for growth and once the ordinary dividend has been met, the Board may conclude that it has surplus cash. Were this to arise, there is currently a preference to return this surplus cash to shareholders via share buybacks or special dividends.”
Picking up pace
1.7% of company brought back for around £5m .
The £25m set aside should last at least a year and circa 9% of the company back.
New capital allocation policy re cash I beleive will also result in a special dividend as they can't buy back shares quickly.
Everything turning good inflation energy prices interest rates and insulated against a down turn. Brought more and my top tip for 2024.
Https://uk.news.yahoo.com/wickes-store-taking-shape-retail-180000251.html
We don’t know his personal circumstances, his wealth being managed. I understand there are tax advantages, and can only guess equiniti on his behalf managed to just squeeze in a top up.
I think there’s £1500 worth of shares or so a year they can deal with in that sort of way without paying tax on that part of the divi.
He shown as holding 300k plus shares.
Why has he only invested a £5 [ his interim dividend) on 4 shares in the DRIP.
Makes little sense
Yes Mick they had a price of £3.20 only 18 months ago. Not sure I trust what they say.
Key defining metric is now cash. See my earlier post. Its nailed on for a special dividend.
At this level return is 10.9p dividend 3p buy backs [£8m a year] minimum 5p special so 18.9p. So 15% per annum which is IMO easily the new base with growth likely.
If this ends the year at this range it is my number one tip for 2024.
Also think at £2 - £2.25 a number of companies will be running the ruler over this and best to strike when SP is very subdued.
Deutsche Bank cuts Wickes price target to 145 (160) pence - 'hold'
Following this thread, another one opened.
https://www.insightdiy.co.uk/news/wickes-opens-new-store-in-torquay/13010.htm
Is as set out in the update
https://www.wickesplc.co.uk/media/vergkjqx/q2-slide-deck-final.pdf
The more I look at this the more I think it's an superb buy.
Effectively recession proof re core sales.
We had a worry about utility prices. £10m extra but that's now dissipated.
No debt - leases irrelevant.
Capital allocation policy is £50m cash at seasonal low of 31st December. They had £99.5m Dec 22.
That's despite paying 10.9p dividend ( cost £27m ).
Buys backs equivalent to a year's dividend £25m but painfully slow £4m spent as of Friday.
This is the bit I most like £190m cash at 30th June 23 ( £26m higher than June 22).
Implication we hit Dec with cash of circa £125m !!
and a policy to only have £50m.
Buy backs are out - too slow and allready funded.
I think there will be a move to a special dividend with surplus capital. My guess is 10p.
Superb looking opportunity to me and will buy more.
That was a great time to buy, Sp recovered, Leeds branch was very quiet other week these high interest must be having a effect though, taken dividends cash...atb
Dividend pay date today. At current price 8.3% pa I think.
Trading update confirms resilience and growth in difficult market. They continue to refit and add new stores to the portfolio…145p not far away base on profit forecast of £48m pre tax…
Good update in a tough market, shares very cheap
Based on trading to the end of October, we remain comfortable with current market consensus for FY2023 adjusted PBT of £45.3-49.0m on a post-IAS38 basis.
https://www.lse.co.uk/rns/WIX/q3-trading-statement-zs7vtkdnl6g5ll9.html
Storms must = customers
Resilient company buying back shares…… I expect these to rebound very soon
Definitely a bargain at 125p….. solid company
3rd. November 2023.
For clarity, I am in here for medium term growth and to a lesser degree for dividend.
I wonder if someone with more knowledge than me could explain what happens with the wix share price for the first few hours every day. There seems to be a large spread which closes up as the day progresses.
As I said, I’m not expecting to trade on marginal swings in price, just a point of interest really.
Growing our estate of new format stores
Our successful store refit programme continued with six refits in the first half at Shipley, Blackpool, Haverfordwest, Stafford, Nuneaton and Braintree. Sales uplifts remain strong, driven by an uplift in DIFM of over 50%. Our refitted stores also benefit from an improved order fulfilment layout which increases click & collect capacity. This is clearly resonating with customers with click & collect participation increasing across the chain.
Despite the impact of higher build costs, store investments continue to deliver a ROIC of over 25%. A further five refits are planned for the second half.
Our new store opening programme is gathering pace. One new store opened in July at Chelmsford, and we expect two further openings at Widnes and Torquay in the second half. We remain confident in the opportunity to expand our proven model into 20 new locations over a five-year period.
Https://projectscot.com/2023/09/work-begins-in-aberdeen-on-build-of-10m-wickes-store/
Winter weather on its way,fences and anything else exposed to the elements potentials for damage and replacing.