So when they took that position there were 949,076,759. shares in issue, so 4,745,383 is about 0.5% therefore with a £0.72p divi they are going to be forking out £3,416,676.00 ish to cover the divi payment ?
They must be either pretty confident or going to close it pretty quick? maybe they think that the Trump / U.S. vaping issues are going to hurt further. Anyone want to check my rough workings and comment what they think …
Usually keep an eye on short positions as they can build quite large positions etc, noticed for the first time a short has been started in IMB …..
Fund % Short Change Date Changed
Marshall Wace LLP 0.50 0.00% 30 Oct 2019
Total
0.50%
Maybe because they picked up 300,000 instead of 100,000 as usual, only a guess on my part
The divi has been declared for 21 Feb by IMB
which begs the question if you were going to cut it, why bother to put it up now?
Price turned after 9.00 a.m, Bats surging too
06 November 2019, 11:10
Source - SMW
Credit Suisse today reaffirms its outperform investment rating on Imperial Brands Plc (LON:IMB) and cut its price target to 3000p (from 3300p).
Broker Forecasts data provided by www.sharesmagazine.co.uk
Dividend cover on this site states 1.45 therefore covered, so don't know where they are getting numbers from?
I don't know either, I saw the below from RBC what I do not understand either is that if their were going to be a divi cut why increase the next 2 payouts……..?
RBC reiterates 'underperform' on Imperial Brands, expects dividend cut
(Sharecast News) - Analysts at RBC reiterated their 'underperform' recommendation for shares of Imperial Brands, telling clients that the company still had more to do to clean up its accounting and that they were expecting the dividend to be cut during the current financial year.
On the plus side, the company did rebase markets' expectations, with management now forecasting low single-digit organic revenue growth in the 2020 financial year.
RBC had already penciled-in growth of about 0.5% for 2020-22, so the broker's estimates were not "materially" impacted by the latest set of full-year results from the company.
Indeed, the latest move from the company meant that it now had "the potential to surprise on the upside rather than continuing its tendency to over-promise and under-deliver."
It had also cleaned up its accounting "to some extent", introducing a new measure of operating profits that excluded 'other income'.
But restructuring costs would continue to be excluded as well, at least until the end of 2020 financial year.
That was significant because Imperial had the highest restructuring expense/sales ratio in the broker's coverage, something that for RBC "needed to change".
And the dividend was at risk, the broker added.
"We think the next CEO faces a significant challenge in turning around the downwards trajectory of the business and forecast a dividend cut in FY20E, which would at least speed up deleveraging as well as give more room for a step up in investment in NGPs."
RBC had a target price of 1,600.0p for shares of Imperial.
Yes and its 72 pence which is more than I thought it was.
I saw that a couple of days ago but doesn't seem to have affected price, was it in Phillipines region? They (BATS) will probably come to some deal or other, either way so far not affected price or raised as an issue with recent BARC visit.
BATS too seem to be more bullish on their abilities, Barclays have a new target on them after meeting with BATS CFO, they seem to be a bit more bullish, maybe IMB being a bit over cautious? I have a holding in both.
I too am very concerned on the constant fall in SP, every week we just get this drift to new 10 year lows.... giving some chance to exit out slowly I suppose before another drop when the numbers come out?
baffles me too, BATS have bad news in that they are likely to suffer some kind of legal challenge on working conditions and the shares go up...……….. IMB just keeps going down...………
25% share price fall in 6 months, someone sees or fears something?
dont see why, the divi cover rate is much the same as it has been for the past 4 years...…...
mind you we are now at about a 10 year low from what I looked at roughly, which seems a little harsh.
imho Corbyn has no credibility, he wanted a GE when May was in, then when given a GE, they squabble about the date etc, irrespective of your Brexit views etc, this whole parliament should be thrown out and a new one elected