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It's not just one dividend payment but at least 3.. would have been happier if they had just cancelled at the start and not kept on deferring the decision... but they kept deferring the decision because they continued to make a profit.. and to now U-turn on their promised progressive dividend policy announced at the last 'strategic review' has caused me to lose trust in them.. although I do believe fair value for the SP is 50p+ so maybe I'll hold rather than dump in a fit of pique..
The Open Offer Shares will be made available to Qualifying Shareholders on the share register at the Record Date.
Record Date for entitlements under the Open Offer 5.00 p.m. on 12 May 2021
So does this mean if you held yesterday and sell today you still get the open offer entitlement?
And does this next statement mean you can buy today and also receive the open offer entitlement?
Ex-Entitlement Date for the Open Offer 8.00 a.m. on 14 May 2021
share price has doubled since steve72 said...
"80 million market cap for a company with debts of circa 485 million, kier living worth next to nothing, no other assets to speak of, can only see one way this will end!"
share price has doubled since metamorphosis84 said....
"Still think 0p is more realistic than £2. But wthdik? Have only been consistently right with this share for the past 2 years"
and the share price has only risen since Hinkley started moaning.
Keep it up guys and you'll make us all rich...
It made good money but it tied up too much cash in operating, so a good sale for Kier.
Steve - the payment into pension funds goes to show what a decent company they are given that the last valuation showed a pension surplus of £38.8 million and has nothing to do with the sale of KL.
"Kier operates a number of defined benefit pension schemes. At 30 June 2020, the reported surplus, which is the difference between the aggregate value of the schemes' assets and the present value of their future liabilities, was £38.8m"
Well before the pandemic they traded between 50p and 60p.. they haven't been affected by the pandemic as badly as many other businesses and their dividend is deferred rather than cancelled... so all in all looking good value under 40p and looking cheap under 30p.
Everyone will have their own opinion though.
This is a couple of years old but we are in the pubs.
Distil plc (AIM: DIS), is pleased to announce that another leading pub chain with national coverage has listed RedLeg Spiced Rum for its outlets, further increasing the brand's presence and availability throughout the UK.
Not going bust.
You should check :
1. Kier website for news
2. Industry periodicals for news of Kier
3. Recent accounts & RNS issued by Kier.
The debt Kier carries only really became an issue when Carillion collapsed - they did a botched Rights Issue which trashed the share price - but succeeded in allowing them to continue to tender for Govt contracts. They have always carried a sizeable debt even while paying divis of 23p (interim) and 46p (final) and I think the current Covid climate makes the debt look almost reasonable.
I'm not expecting much from the next set of figures due soon as they should include the last of the costs associated with the restructuring.. it will all depend on the outlook for the coming year when the cost savings should kick-in.. hopefully it will be positive despite Covid and maybe in a couple of years they will be back in the FTSE250 or maybe they will still be bouncing around this price, but they won't be bust.
You seem a little too desperate to try and put a downer on this share Steve. If you are invested and have genuine concerns then go ahead and express them but do it properly and reasonably.
If not invested then we don't need your crystal ball which seems to be permanently cloudy.