Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks Mike
Can anyone clarify the dividend position in relation to BKG? The final results state that 12 August is the ex-divi date in relation to the £1.00 special dividend. Is this in addition to the £1.00 dividend which most websites state as having an ex-divi date of 11 August? Seems unusual that the company would have 2 separate dates!
Papers suggest that there will be an 800m rights issue, sale of multiple businesses and cancellation of the divi! http://uk.reuters.com/article/2014/02/23/uk-britain-rsa-idUKBREA1M0K020140223 http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/10656090/RSA-to-cancel-dividend-after-fraud-and-floods.html
Thanks NKOTB
My broker is not letting me process automatic trades at the moment. Could someone please let me know the current price?
Thanks seen-it-done-it.
Thanks, Gerry. I very much doubt that Lee would cut the interim divi payment on 22 Nov. I also agree that he will do everything he can to avoid cutting (re-basing?!) the 2014 divi, as that would surely be the end for him. I will keep a look-out for further comments in the press on this over the coming days. My interpretation of last week's results is that premiums are rising and the business is doing fairly well - as per the rest of the sector. The storms in Scandinavia have hit 2013 profits (but higher premiums in future should make up for this), and the Ireland debacle is hopefully a one-off which can be dealt with swiftly. Lee suggested that the issues stretch back over a 2 year period, so is clearly trying to attribute some of the blame to the old regime. I hope there are no more skeletons in the closet, and the share price can start to recover from here.
Just wondered if I could get your thoughts on Simon Lee's statement on Sunday: "While these issues are serious, they do not have a material, long term impact on the Group. Our capital position remains robust and we remain committed to our dividend policy which is aligned with market expectations for the full year final 2013 dividend." Does he mean that the dividend payout for 2013 will not be affected (just that the interim divi is due to be paid on 22 November at 2.28p per share) OR that market expectations for the 2014 dividend are correct?
Simon Lee said the following yesterday: "While these issues are serious, they do not have a material, long term impact on the Group. Our capital position remains robust and we remain committed to our dividend policy which is aligned with market expectations for the full year final 2013 dividend." What are posters' interpretation of this statement? That the dividend payout for 2013 will not be affected (just that the interim divi is due to be paid on 22 November at 2.28p per share) OR that market expectations for the 2014 dividend are correct? If he is only implying the former, then he is not exactly providing much comfort!! I hope that the 2014 divi will not be cut, and will just be maintained. Surely Lee can't cut the dividend by 1/3 in 2013 (first cut in the divi for 10 years), and then cut it again in 2014?! I think RSA will be doing everything possible to avoid such a situation.
Multiple profit warnings and the decision by Carlyle not to proceed with the takeover have driven the sp way down over the past 12-18 months. I think this is over-sold and perhaps the recent rise is due to the fact that investors are recognising this. Yes, the outlook appears bleak but the company is very cheap at the moment and today's RNS indicates that the CEO will be bringing a new approach so perhaps some optimism for the future. The statement which stands out to me is "There was a significant operating cash inflow in the final quarter that resulted in net debt at the year end of approximately £250 million. (2011: £262.7 million)." I think people were concerned by the possibility that the divi will be cut. Hopefully the improved cashflow situation means that may not happen.
Thanks lunatic
Does anyone know the ex-divi date for this share?
Up nearly £1 so far this week. Keep going APR! Will hold this for a while yet. Aggreko doing v well so hopefully there is room for growth in APR too.
Yeah, v quiet on here. Am hoping for £10.50/£11 on release of results or shortly after - if there are no surprises and they are as good as last RNS re delayed results appear to indicate.
This has been on my watchlist for a while. Was surprised to see the big drop this morning and bought in at 848p. If the only reason for this fall is the delayed release of financial results, then this looks like a strong buy to me. RNS otherwise seems to be positive. I have seen mention of Peel Hunt downgrading its rating on APR. Does anyone know the reasons behind the downgrade? Thanks.