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The RNS seems to lean towards the paying of dividends rather than buy-backs but you never know.. and by the time it gets sorted they might well have enough spare cash to do both.. just like BP. Still looks remarkably cheap at 10 or 11p in 'old money'
Looks like you will get your chance skid35.. after this typically poorly presented RNS from Don.. with just a little bit of thought he could have headlined "figures up 23% against pre-covid comparative period", "New Malt Scotch being launched in...".
(sigh)
I reckon the NAV per share can only have gone up from $1.41 which makes this look relatively cheap to me.
Excellent. Reads very well.
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 much anticipated IPO keeps on being put-off... wonder if it will ever happen.
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
The £6m mentioned is a lot more cash than they held pre-covid when dividend payments were made.. so it's looking good (IMO) for re-instatement with maybe a 'special' to cover last year.
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"