The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
silly Gateboy
'It increased the share price by about 2.2p which is over 5% at the current price. So how is that not doing anything for shareholders ?'
What a fool to believe that!
67sam...cool? Really? One could say we lost 2.81p in dividends that could have been paid out last May, instead of buying back shares with that amount of money.
I remember AHO's well publicised declaration that LBG would return 70% of profits to shareholders in the way of Dividends, which encouraged PI's to invest - like an 'election' promise as it has turned out.
0.8p is 80% of the interim dividend of 2016 and 2017, and only 70 - 71% of the interim dividends of 2018 and 2019 - back when it was progressive, lol.
same, could only find it here
https://www.londonstockexchange.com/stock/GSK/gsk-plc/company-page
Redmoor...no EGM. Polymetal news release:
'23 June 2022
Polymetal announces the appointment of a new auditor.
Following Deloitte LLP's decision, at its own initiative, not to stand for election by the shareholders at the AGM that took place in April 2022 (see the related press release at the link), the Audit and Risk Committee of the Board of Directors of Polymetal International plc held a competitive tender process in compliance with the Competition and Markets Authority regulations, applicable EU requirements and Financial Reporting Council guidance.
As a result of evaluation of the tender participants, the option of engaging MHA MacIntyre Hudson LLP (an independent member of Baker Tilly International Limited) as a group auditor jointly with AO Business Solutions and Technologies (previously AO Deloitte & Touche CIS) as a component auditor was considered a preferred option, which was recommended by the Audit and Risk Committee and approved by the Board. MHA MacIntyre Hudson LLP will act until the conclusion of the 2023 AGM at which meeting the Group auditor will be proposed to shareholders for appointment by ordinary resolution.
The new Group auditor's initial engagement is the review of the 1H 2022 interim financial statements, which is planned to be published on 22 September 2022 and, thereafter, the annual audit for the year ending 31 December 2022.
The Company has analysed its legal position and has concluded that the appointment of MHA MacIntyre Hudson LLP is not contradictory to any applicable sanctions. The Company is not an entity or a body established in Russia and does not consider itself to be an entity owned by or acting on behalf or at the direction of a ‘person connected with Russia’ (see the related press release at the link).
The Company is in compliance with the provisions of The Statutory Audit Services for Large Companies Market Investigation Order 2014.'
"If it wasn't for the Charlie's buy back we be 25p today"
what a load of tosh
BJ is Biden's lap-dog on this. The USA want to appear to be at arm's length and they have always owned the UK. You won't see that on the BBC, lol.
Gate13....you missed the point lol. Sorry if this is too difficult for you. It's not about the pandemic,etc - allowing for a pause because of that is not the problem . Maybe it's the word 'progressive' that you struggle with? The money is there to continue on a progressive dividend from 3.21p. If there is a 2.4p total dividend in 2022-2023 that would be progressive from 2.0p. Maybe the following year, a fresh start would be 1.0p and the bod will tell you that the progressive dividend will be from 1.0p going forward and that would satisfy you lol.
This money has simply vanished, the massive excess that was set aside is just gone. Not one pound left over, lol.
gate13.....the board have confirmed a progressive dividend after retracing back from 3.21p to 2.0p lol....they are not to be trusted.
MM14, 'perpetuity'? lol...I don't think I'll be around long enough to see the equivalent benefit, will you? As for 'use it once and it's gone', that's precisely it. I would have it to use. I could reinvest in Lloyds or anywhere else, pay some bills, make a significant purchase...cash now vs waiting for up to '35 years' should one live so long. The 2bn will soon be gone, with no benefit in the foreseeable future, as with all the previous buybacks. Dividends work for me. Wishin' and hopin' that some day something good will come out of buybacks doesn't do much for me. The .08p gain would be even less on interims. Glad to hear it works for you, though. I prefer dividends to buybacks. I prefer cash to buybacks and no tangible gain. The same goes for previous buybacks - does that make it 70 years now, rather than 35? lol To each his/her own.
and...? Check the math.
Rounding a bit...71bn shares in issue. Final dividend was 1.33p per share. Cost of dividend: 944.3 million
Cost of buyback 2bn Assume 4bn shares bought back, leaving 67bn shares in issue.
If 944.3 million dividend money is distributed to the 67bn shares, dividend would be 1.41p (vs 1.33p)...gain of .08p per share lol.
If instead, the 2bn was distributed as dividend to the 71bn shares, dividend would be an additional 2.82 p for a total dividend of 4.15 p (1.33 + 2.82)
hmmm, I think I know what works best for me.
Not really - check the geographical distance from Moscow...if Ukraine becomes NATO.
Jam tomorrow, or maybe the day after, lol.
You're welcome brugel, wish I could make that kind of slip, lol. Best of luck.
brug, after you put 50,000 in the quantity box, you have to tick the circle for one of the two options below - either pounds or number of shares...you must have ticked the circle for pounds...
sounds like you ticked the wrong box - bought £50,000 worth rather than bought 50,000 shares
Divi has likely gone into the house buying account. 50,000 houses at £300K a pop is 15BN...over 5 years is 3BN per year. Money has to come from somewhere...
Right on, TR. The BOD have revealed themselves this time. The results were there, the money is there, the risks are fading or past for the most part - the only thing that isn't there is any regard for shareholders. Vote them out at the next opportunity - let's not forget about this at the next AGM just because there is a final dividend. This was the time for them to do the right thing and they failed, with no excuses.