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Did try the suggestion of manual trf in HL , but nothing in capital account to transfer yet. Will assume others are right and it will land at lunchtime.. Will look at Barclays later today too.
Are those that received the div today investing back into Aviva at £4.09 or waiting for US markets to open at sat 14.30pm and see which direction it goes.. At the moment AV seems to be holding up nicely..
Excess capital over 180% solvency ratio which business can't use will be returned to shareholders over time, as well as dividends.. as per Amanda.. several times this morning. As the business generates profits each year and covers the dividend by say 1.9x , then there should be extra capital being generated each year to keep filling the cup.
Solvency II cover ratio of 198% already indicates something extra perhaps next year..
Lucky DJ is now down 1063 points which gives us a chance perhaps to get in tomorrow lower than 415p and reinvest the div money and perhaps B cash if available. Eventually this will head up to £5 once the extra returns become more visible next year. Perhaps the news tab is correct ? another £500m (18p)/ £1b (36p) coming as well as the 2022(31p) and 2023 (32.5p) dividends. ?
Already £4.15 .. and looks like will exceed £4.23 tomorrow.
Doesn't look like I will get anything reinvested below £4.23. Even if 10% of the div and B cash gets reinvested, this will bounce back to £4.40p (7%). At which point the mini Massimos will sell everything they have acquired this week at £4.00. Still think the yield should be 6.75%, even 6.5%.. so £4.76 remains a good 1yr target for me.
£4.05 is a lot better than looking at £3.85 yesterday..
But comparing to LGEN per google which is now sub 7% yield, this should now be nearer £4.50 . ( which it will probably will be over the next 2 weeks once some of the div and B shares cash gets reinvested).
Google showing AV yield at 7.16% at £4.05 , but at 31p it should be 7.65%. GL..
Well said Eurofox..
Good chance higher next week after consolidation. If we are trading at a discount to NAV, then we won't drop by the full 3.75m. Perhaps only 80%, so bal 750m. / 2700 : 27p upside next week.. Markets are really keeping this down this week.
Not sure why you say it's tomorrow but "Subject to shareholder approval, each Shareholder will receive one B Share for each Ordinary Share held by that Shareholder at the Record Time, which is expected to be 6pm (UK time) on 13 May 2022. " Example was 101.69p / 76 for every 100 held.
But it could revert back to to 100p/ and 75/100 given the share price is 410p.. Anyway if the SP remains low next week, I can reinvest the dividends cash I expect to get on 19th.. If the ratio is 75/100 , then the future yr dividend is back to 31.5p.. so at 410p, gives a yield of 7.68% . Excellent.
Trading update on 18th May might give us a positive boost.. IF we can get the Div and B share money invested sub 420p in May and then ride up to 450p in Q3 and 480p in Q4. that will be fine with me. 520p is still the target as per brokers..
Potentially these lower prices are giving us a little reinvestment discount bonus.. because I thought 440p would hold and we would be reinvesting at the 460p level next week..
Sort of expected the downward movement today given US markets last week.. and today.. but think the yield supports this very well.. Should pick up again as we close in on the 16th May. Only 3 weeks away and more opportunity to buy some cheaper stock .
I also had the thought AB might want to merge Enquest with Petrofac.. at somepoint. Done it before and make a lot of money.
"In 1998, he founded and was the chief executive of Petrofac Resources International Limited which merged into Petrofac PLC in 2003"
Definitely best to diversify if you have accumulated too many over the last few years with 3 requests for cash... Even AB probably only has 10%/20%/30% of his family wealth in Enquest.. Can only guess , but it isn't 100%.
I agree we should take a step back and look past the 16th May.. .
As per Google 5 yr chart, the current share price is 15.90% down from 5 yrs ago.. It was £5.25 and is now £4.41
Shareholders and activists want it above £5 asap.. We have a good chance of achieving this based on the new yield.
Where the Share Consolidation results in a fraction of a share, this will be aggregated and sold in the market. Net proceeds of the sale (after deduction of all expenses and commissions incurred) are expected to be distributed by 31 May 2022.