Member Info for Fird

SP of SBRY trading at 265.20 at 11.04 AM. In actual terms it has today gone up by 4.60p after discounting dividend.

At mid day SP: To buy 262.60p to sell 262.50

In May 2014, final dividend 12.3p was declared. In Nov 2013, interim div 5p was declared. It is expected that on 12 Nov 2014, interim div may be little bit less than 5p. Where did you read 13p?

On 6 Mar 07, a consortium (CVC Capital Partners, KKR and Blackstone Group joined by Goldman Sachs and Texas Pacific Group) made an offer of £5.62 per share, later increased to £5.82 to takeover SBRY. The offer was rejected. In Apr 07, Qataris bought 14% stake in SBRY. By June 07 increased their stake to 24.999%.The Qataris were discussing potential bid of £6 per share. Eventually, in Nov 07 abandoned their bid. Had Qataris made a formal bid, it would have failed as the Sainsbury family (who holds 23.91 stake in the company together with Trust) were concerned about adequacy of funding both for the bid and for the company's pension scheme. Secondly, Qataris' intention of splitting into operating company and property company. Thirdly, the family considered £6 per share too low.

At no stage Qataris have expressed or implied their intention of making a bid with a view to takeover SBRY. However, they have made it clear from time and time again that they are long term investor in SBRY.

BLT P/E ratio 11 EPS 153p Div cover 2.4 times Div yield 4.4% Whereas RIO P/E ratio 26 EPS 120p Div cover 1 times Div yield 3.86% BLT's ratios are far better than Rio. Despite that today RIO went north where BLT went south.

You may be right. The shares may have been oversold. But I attribute today's bounce back based on the following factors. Today BLT announced that it will cut cost from $50 to $30 per tonne and at the same time increase annual output by 65 million tonne. IMHO, recent weakness in the shares price was due to fall in the price of iron ore from $190 to $80 per tonne.

Aldi and Lidl are fairly new comer to the market. When hey were growing, Sainsbury's saw them grow and did nothing to curtail their advancement. Now Sainsbury's has woken up when Aldi and Lidl achieved 36% growth and Sainsbury's lost 2.8%. Now Sainsbury's need mastermind to get it back in the front seat.

Analysts' forecasts 3 to 4 percent fall in sales, which was reflected in the share price. Contingent discount or income from suppliers fiasco, which was seen in Tesco's accounts was not the case with SBRY. The actual fall in sales is 2.8 percent. Better than the analysts' forecast. In normal condition one expects the SP should go up instead going the wrong way Interim results together dividend policy will be updated on 12 Nov.

Are shorters trying to square their books today?

It all started with Tesco. Tesco fell. SBRY fell in sympathy. Tesco found hand brake. SBRY is still looking for it.

How secured is Morrisons' dividend? At least Sainsbury's interim dividend is secured. Dividend is a racing certainty by nature. A company can declare nil div or even when the div is declare it can withdraw it.

How much is the difference between market price and the issue price? It could be anybody's guess. The SP is catching up with the issue price.

Apparently you are a customer of SAGA. All customers applied for £5K worth of shares will be allocated 1000 shares. Whereas non-customers applied for £5K worth of shares will be allocated 400 shares. Judging from the SP, all those who did not apply will not be worse off and those who applied will not be better off.

Almost every day the SP of INFI goes down. Apparently, the advisors were over ambitious to set IPO at 260p. IMHO they wanted to make a quick buck while the London Stock market was liquid.

I was charged £35 by Barclays Stockbrokers on the sale proceeds of £1,215 when I disposed of my shares in Royal Mail. I thought it was on the high side. Do other brokers charge same?

It is BLT's policy to declare progressive dividend whenever possible. Where not possible then at least maintain same div as declared in the previous year. I know you did not ask for div policy. I lay below div cover for the last 5 years. Please judge for yourself if div is well covered. In 2009 div was covered 2.35 times. In 2010 covered 2.57 times. In 2011 covered 2.93 times. In 2012 covered 2.87 times. In 2013 covered 1.91 times. Tomorrow BLT shares will start its journed 38p lighter at 1898, after adjusting div. Today I sold all my holdings of BLT at 1942. By doing so I forgo div. I did that for two reasons. From my personal tax point of view, capital gains are more favourable than div. Secondly, like you I was also afraid that the market may give same treatment to BLT as it did to RIO.

BHP Billiton will announce final results on 20 Aug 13. Ex-div date 4 Sep 13. Record date 6 Sep 13. Div will be paid on 25 Sep 13.

Tomorrow STAN's shares will start journey 36p lighter on account of ex-div adjustment.

Final dividend 56.77cent. Ex-div date 13 Mar 13. Record date 15 Mar 13. Div payable on 14 May 13.