Member Info for Divihunter112

It's only on the closed books so hopefully it's a one off cost as per the early exit fees hit.

The additional £400m cash announced in November more than covers this.

Looks like the usual over reaction by the market - I've topped up.

The £400 million will take Solvency back above the key 180% level.

If they don't buy another company and Solvency is above 180% for a while, there will be pressure for buy back or possibly a special. With only 1 billion shares I'd love them to use some of their cash pile to buy shares. About £13 billion of cash after debt and interest with a market cap of £5.06 million - it's a no brainer. Aviva does it - why not PHNX.

I'm expecting a 5% dividend increase like last year, especially as they have announced an extra £400 million of cash since the half year presentation.

If there's no major financial or political events before 22 March I can see this climbing to about 530 as it did at half year.

GLA

Just have to wait for interest and bond rates to start falling later this year.

The election will probably cause a drop, but long term this will rise as bond rates drop.

AUM was up £10 billion at HY which was excellent news and should continue to recover as inflation and interest rates drop.

Back in November they advised an additional £400 million in this year's results so I'm hoping dividend increase will again be 5% - they can certainly afford as cash after debt and interest should be around £13 billion.

5% increase would be 27.3p dividend.

Have they made any comment today on how they are going to pay for this?

I've bought back in today after a break and just seen the RNS of 13 November.

£31 million cash and Parasol paying all rent due - I'm guessing that doesn't include the arrears yet.

They are moving certain leases away from MySpace to other providers which I think is excellent news.

Personally I would think a dividend cut is very unlikely as they have the 7£ million property sale money and should have more income from rents with the rent increases in HY2.

Hopefully they've started getting rent arrears out of MySpace and Parasol. If not surely it's time to move the leases on to other providers, especially MySpace.

If they have started getting the rent arrears results should be very good.

UK election dip.

This is tricky as looks like USA cutting rates from March with three cuts now pencilled in not two. That could well offset any UK election dip so not straightforward imho.

UK 10 year bond rate down below 4% at 3.95% and markets think US rates will be cut starting in May.

Not long to wait and probable 27.3p dividend in the meantime.

Very happy days soon.

GLA

UK 10 year bond down 20 points in a week. Forecast is inflation now below 5% - October figure released on 15 November.

GLA

Hi @CraigB

They might need to use some of the £7 million to sort out the MySpace issue.

If that gets sorted in H2 then every chance of another £5 million share buyback as the board is keen to reduce the gap between the share price and the NAV.

GLA

Typo - actually 0.56%

Just noticed the above happened on 29 September.

Their short was 1.10% on 7 August so nearly halved.

Couldn't resist buying more at this price - 5% dividend increase equates to 10.8% and a growing dividend going forward, cash generation forecast at £1.5 billion for 2023 with debt at only 25%, with another £250 million debt paid off early 2024.

Last week Barclays again set its target price at 718p.

Berenberg has a target price of 739p and values PHNX at £8.7 billion.

Just block them like I do, so you're only (hopefully) reading relevant posts. Every share I've viewed on here has them.

Debt is only 25% with another £250 million due to be paid off in HY1 24 and over £1.0 billion in 2025. If there's not a major M&A by then, debt interest cost will plummet from its current £250 million per annum, with new business also exceeding heritage from next year, with increased cash generation projected at £1.5 billion.

Aviva and LGEN down a similar percentage in the last year with smaller dividends.

PHNX about to pay a massive dividend and the financial shares are cyclical. Let's see where the share price is in February/March.

Acquisitions. Bought Sun Life of Canada for £250 million last April. Generated £46 million of cash in three months with projected cash generation of £500 million. I personally think they know what they're doing.

DYOR GLA

I was waiting to buy more when it went XD. Instead I've bought now on this stupid broker downgrade. On Monday Bank of America raised its target to 640 from 620.

Regional REIT has had bad results today and cut its dividend. That's probably the reason for the SOHO drop - especially the day before ex-divi.