focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
By my rough calculation €104m is 7.4% of €1.4 b profit before taxation and half that 3.5% going to dividends. Does anyone know what percentage of after tax profits that amounts to? I suspect Francesca is being prudent and using remaining profit towards cost of acquisitions. I'm glad at long last dividends have commenced but a long way off the target of 50% of profits.
Thanks for clarifying John that it's "before tax profit" and not "after tax profit" predictions. The reasons I only gave a dividend prediction are:
1. I'm not sure if Boi are still carrying losses that can be offset against taxes for years to come?
2. How it is paying for the Davy and KCB acquisitions?
My before tax profit guesstimate is € 1050m and a dividend of 23c.
Boi stated objective is to pay gradually up to 50% of profits which is my preferred option.
I'm remembering Wilbur Ross and pals who saved BOI in 2011 by buying 35% of it at 10 cents and sold in 2014 at 33c pocketing 500 million euro profit. The result a big drop in SP. Is BlackRock trying to repeat history by slowly building up their stake and the SP and then offload when SP is high enough for them to make a huge profit? Any idea what their breakeven price would be? Im getting near breakeven at long last so hope the upward trend continues.
Great to see a return to decent informative posts again. As a long term investor I was badly caught in 2008 and despite doubling my investment by buying at 10 cents, I need SP to go over €7 to break even. My main aim was to get decent dividends to top up my pension so the SP is not necessarily the most important thing for me. Will the recent acquisitions and the possible buy backs rule dividends out again for 2021. Having waited so long for a resumption of dividends, I am reluctant to sell even if I break even.
2021 results due on Friday. SP was looking good for a week until Ukraine was made a serious issue.. Suits Boris to have a distraction. Nothing like a war to bring up the ratings of Prime Ministers when they are in trouble. Sovereignty regained after Brexit and touted as ability to take decisive and prompt action while EU lags behind. Hoping for good results on Friday which will unfortunately probably cause the SP to drop.
Full year results for 2021 will be announced on February 28th. Some good positive announcements recently eg acquisitions, cost reductions, possibility of interest rate increase. Nice jump in SP this week but seen it all before