Member Info for Gerry557

Old, you don't have to hit the highs and lows. As long as there is a differential, oh and some divis help.

You only get 2 for 3 no matter how high the price goes which is why I thought it would anchor around the 1086.5 price. That's not to say carpet baggers won't dive in thinking they are getting a massive divi windfall now instead of just being forced sellers of their own shares at 1086.5p. Just wait for the comments on how is was all a scam etc.

Still time to ride the baggers wave if your better at not being greedy. For me, my remaining shares were already flashing sell as there were over 12 years dividends in the price and my running yield was getting lower and lower.

Hopefully it will turn back into a steady boring utility share again with a decent yield.

Just got all that useless cash to deal with now.

Well that is the lot sold up now. So hoping for a fall. Not really happy about buying back at these prices. Whilst its been a nice steady share and I would be happy to hold again. The yield is quite low for a utility, even taking into account, the expensive Bristol purchase, the expected rise in next years divi.

Like many I suppose, will keep an eye out for any dips. No plans currently to spend the cash unless one of the green power provides does a placing or takes a dip.

the buy back is only ever any good if the share price is cheap. Would you be happy if they spent all that money buying fivers at a tenner a go!

Normally they mandate someone to buy for them within set parameters. So how many shares depends on the way the share price moves.

Hopefully they will announce loads of bad news, Bristol integration going poorly, fights with regulators etc to knock the share price. If only that were legal.

You are safe 1149.5p, loads of wiggle room.

I'm in a watch and wait mode and likely to react to whatever happens.

Hoping the SP falls afterwards but worried it might rise too much this side of the deal and remain elevated on the coat tails.

The later divi might hold it higher too and then a buy back kicking it.

Might need a market correction to help here

So 70% vote against the pay bonus. The result is non binding so the committee want to re-engage with shareholders, to change their minds.

Shareholders are obviously too thick to understand and need re-educating on why the boss needs a 1.7m bonus on top of the £4m+. Now he hasn't had a pay rise in six years, he has waived some, to give more context.

I wonder if votes againt the renumeration committee will go up next time

To be fair, they usually pay out on time. This was unusual, was it just Iweb or did other brokers have a delay? I didnt see that message.

I think HL pay out from a reservoir pot, although being larger in size might help there, so its HL that suffer the delay not the customer. Occasionally I have been informed that its not been paid to the broker yet which was causing the delay.

Mine were in fact waiting for me too when I last checked.

adv11, was there a bank holiday adding to the fuss too. I remember an occasion a secretary was transiting company payments through her private bank account, both in and out, to collect the interest. It only came to light when the boss was anxious about a particular deadline and rang the finance company to complain. To be told it was already sent and cashed.

I suspect this would be called Fraud now and more likely to result in having to spend 2 hours doing community service!

CJ66, it could have been 1 for 2 and a bigger cash return or a whopping buyback.

They have overpaid for Bristol and I wish they hadn't sold Viridor without having something else lined up.

Now I have to find something to replace the missing income. Wondering if something like Ulvr might be better, same yield, maybe a tad bigger but more potential to grow. Except I have just upped there.

Reits if yield income is the main driver but this was a steady Eddie. Hopefully after ex divi the pressure will drop a while before the buybacks kick in.

Then again with the real divi coming along so soon after people are likely to still be buying.

Choices Choices

I have suffered the same issue, planned contacting this morning but didn't get back home in time. Looks like the issue has been rectifyed reading the replies in here so will check my account tomorrow morning.

I too are unhappy with the changes to divi pay dates which appear to drag out payments by several days. Was much better earlier in the week and then you could have it paid into and cleared in the bank account before the weekend if you wanted to take the cash.

Can't remember why they changed the dates or the reason given. Maybe it was to anoy investors.

"So, have i got this correct? Say the SP is at £11 on the day. Giving the market cap of X amount. Then you get 2 shares for every 3 you hold; so 33% less shares around. Would you expect that £11 to increase by c33% so that the market cap remains equal? Or will the consolidation wipe out the 355p special ? Sorry if this make no sence, am new to this stuff"
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No the £11 wont increase to keep market cap equal. The market cap will fall by approx 1/3rd as they are paying out approx 1/3rd in cash out of the business. Effectively its a forced sell of your shares so they can give you your own money back.

The SP would normally fall by the same £3.55 amount on ex divi date. This big drop makes yearly comparisons difficult and there appears to be a big drop in the SP graphs. So to try and keep the SP the same they are doing the 2 for 3 consolidation to try and maintain it.

Assuming the deal get agreed then the dividend amount in Sep will also increase per share but it will be on less shares. Therefor the dividend cash will be the same pre or post the deal, give or take a fraction of a share.

I suspect the announcement will anchor the share price around the 1086p amount. If it drops too much, ie to 3.55 you will be getting your shares for free. If it rises too much, 1441 then you might as well sell as your getting a free cash back.

There might be a slight rise from freeloaders reading "massive dividend windfall" headlines thinking they are getting a free lunch on the run up to the deal, only to find they get given their money back or slightly less. Im surprised its a fixed 2 for 3 not based on actual SP on the day.

The upside is dependant on how much you paid initially for your shares.

The lower the price the better the deal. If you paid 3.55 you get back all your start money and you are left with 2/3rd for free.
If you paid more than 10.68 not so good as you are just getting your own money back. You could argue you are left with a stronger water company than it was pre deal so should be better going forward.

I liked the Viridor side and its a pity its gone. I held some with two brokers and sold the smallest lot this morning. Saves the being in two places issue. Nor sure yet if I will sell the rest, take the offer cash and run or buyback my shares with the cash I get to re up my holdings. The price will have to drop though as the yield is still on the low side post consolidation. Also If Im not happy buying, why would I be happy with the buyback.

They can't assume .... typo

You wont get 2/3rds of the dividend. Its 21.74 on all unless the consolidation is agreed.

If so, then its 32.61 on 2/3rds

They can assume it will be agreed so gave both sides.

The increased divi base will be 2p unless agreed also then its 3p

The rebased dividend is going to be aided with a special this time around so in essence will be the same as last year, so not a cut.

I wonder if they can keep rasing the divi as planned, whilst using smaller and smaller specials to bump it up to current levels until it surpass it. Not sure why except to keep investors happy and not to show a drop.

I suppose the real proof is a rising divi larger than current without the need for specials and a growing NAV to boot.

There is a "best" but only with hindsight. This time it was "best" to buy pre ex divi as the drop was less than the divi the next day. No guarantee though.

Im not suggesting people should buy one day or the other, just commentating on a previous question. Buying the "dip" much earlier would have been better than the scenario "best" Do people try and time a gain on divi buy and sell?

Personally I think the SP rises a tad, close to the ex divi date anyway, on higher yield shares. Hopefully that "strength" will disappear so I can reinvest my dividends at a cheaper price. Over to you Mr Market

I have seen lots of pre or post divi buying arguments. Its difficult to decide on a 2 day time frame which is best. A regular investment takes away that decision and hopefully evens out over time. Another is why by income today as you have the cash now obviously, albeit the cash comes (months) later. Buying ex divi means you get more shares and your money works for longer. Again market forces might change that on the day depending if its an up or down day.

Some think that post divi there is less support for the SP so it might fall a bit more but not necessarily on just the ex divi date, this takes account of all the buyers trying to time a divi payment. There might be some merit in this, you can watch and observe. Another observation is that the dips caused by the divi disappear over time (otherwise the SP would be negative) and you might gain that rise over time buying post divi.

Im not sure what is really best. Just buy when you think its best for you in the medium to long term and ignore two day trading windows that dont make up much in the scheme of things.

I was looking for 170 pre divi recently, missed out. Missed the rise and the extra dividend. Maybe I was being too greedy when 172 was on offer on the table. Lets see where ex divi takes me.

Tacly, no real reason apart from observations. The market often has its biggest drops in feb/march time and in the summer.

Hopefully it will follow the trend and allows to you buy cheaper as the market drags everything down. It might not follow as covid has been a big dip and things have risen in expectation of more normal times. There will be some news/noise that causes a reversal.

Fairly big jump here yesterday, not sure why.

Rich, we all make mistakes and why it's good to discuss things as sometimes others spot things we have missed or put another slant on things that we had not observed.

I double posted so either I'm going mad or my tab was playing up. Maybe it didn't refresh.

Yes the divi is good, I wish the SP would do it drop as I'm dithering over a top up. I'm also unsure what yield to work on going forward, somewhere between 4 and 7 percent depending on what they do with specials.

Market looks to be on the rise today so that top up is looking remote.

"There might be better ones"

You would hope the horses mouth would be accurate

https://www.morrisons-corporate.com/investor-centre/shareholder-information/dividend-history/

https://www.morrisons-corporate.com/investor-centre/shareholder-information/dividend-history/

Hopefully this one will be accurate

I think they mentioned that they had paid out a lot more due to the pandemic so it will be interesting to see what happens when it over (or has less influence). They were paying salary for isolating more delivery costs etc

If this is reversed and petrol sales get back to norms thing should look much better although staff dont like thinks being taken away. Maybe they can afford some ice packs to put in the delivery vans!