The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Respect, Immature are you serious??? They're just quoting waffle found on various websites, read back through the posts, and maybe you too will become enlightened.
There is nothing to discuss, the 'payment' (which AMC are calling a dividend) is a return of capital. AMC sold an asset and will (hopefully) distribute the proceeds to shareholders. If that's not a return of capital then what is it?
As I said before, I will account for it as capital gain and not a dividend, what anyone else does is their own affair.
Have you averaged down, I remember you having £3-400k's worth when the SP was 20-30p?
To kill the boredom, shall we have a game?
Guess the excuse for not paying the dividend on time, I'm sure there will be one.
1 Didn't realise it was so complicated, despite having the best part of a year to work it out, will be done in 90 days.
2 Our lawyers have resigned so we need to find a new one, will get it done within another 90 days
3 The Bank we finally found has now got a problem so we need to move to another bank should be done in 90 days.
4 There was a problem with the sale paperwork, need another 90 days to sort it out.
5 Robbing has broken his arm so can't sign the paperwork, need 90 days for it to heal.
6 feel free to add to this...
Sorry but more waffle - Special Dividends are NOT subject to any timetable and if it's not a return of capital what is it?
The bit about not having sufficient reserves is the funniest bit - what do you think the $35M is??
Have to add it's Interesting chatting with an AI/Bot and the random junk that gets turned up!
One other thing being called a dividend is misleading for tax purposes as it won't be subject to dividend tax but capital gains tax (if you made more than your CGT allowance in profit).
https://community.hmrc.gov.uk/customerforums/cgt/6e9cb3b6-0282-ed11-97b2-00155d3ba57b
As I've said before they will probably take this "to the wire". If you read the RNS 3rd October 2022 proposing the dividend Age's calcs are not valid. The ex-div date will be the same as and the record date and payment date may will be the same or very soon after, which could be as late as the 90th day from receipt of funds (assuming Robing keeps to his dates - which he rarely has done in the last 15 years!):-
"The Board proposes that the record date and payment date for the distribution of the post-Completion dividend shall be no later than 90 days following receipt of the consideration payment."
Therefore I don't think there will be a chance to buy between ex-div and record date. They will simply RNS at 7:00 am that the payment will be made to any holders on the register at close of play yesterday.
The only way to make sure you get the divi is to buy before the RNS!
Wait for confirmation over next few days but looks to me like a possible breakout coming down the track:-
https://invst.ly/103j1i
JulianM,
As I keep saying Robing wants to drag this out as long as he can, his salary has been worth far more to him than what he'll get from the sale as he and his fellow board members hold so few shares.
It's unlikely he'll have a job after October as any still holding will probably vote him out just out of spite!
Hi TDT,
Have gone round it a bit before, initially I thought maybe they'd get it done quick on the basis they already had a new venture lined up and the payment need so happen first. Obviously not the case!
The more I think about it though, there is nothing at all to benefit Robing by not waiting till 90 days. I wouldn't even be surprised if at 90 days ish he announced, due to some made up excuse, they had a delay and the payment will be in x more days, weeks, etc. All the time the cash is earning interest probably circa £150k per month and he's still getting to feed at the AMC trough. The only real deadlines for him are the AGM, where we could chuck him out and the AIM rules concerning cash shells. It may even be, he's worked out he will be better off drawing a salary until the anniversary and then just returning what's left to the shareholders.
Only a month or so till we find out as he will have to issue an RNS on or before the 90 days one way or another. Even I'm getting itchy feet now after 14+ years - there is a potential larger rise (£1.50 to £2.40+) due in IAG once the current GAPs close. If they close even before Robing pays the divi then I may dump the lot and move it there. Same profit % but not under Robings control. It's only really a sentimental thing that keeps me here, would just like to crystallise my profits via the payout rather than simply selling - as you say a Sale was what we all anticipated when we bought/traded AMC and I'd like that itch scratched:)