Member Info for Krustysmegma

Pity they didn't tell us where the money was coming from to pay for it Spades but yes, on the face of it this is more good news for GSF and dividend seekers. Let's hope it's not followed by another cash call.

Getting very close to break-even here now, XD Thursday so might see a little more ahead of the inevitable dip on 26th. Very respectable dividend on offer here still. All looking good.

Oh, good point alf. Potential for some significant upward movement here once patents/approvals received in various countries/continents.

Thanks again for the excellent research guys (gixer, Dr_H), definitely contributing to a feel-good factor here for the first time in ages. GLA.

Good find Dr_H. Seems to have encouraged some buying this pm. 0.75 - 0.90 going into the weekend, might be an interesting week next week...

I'm not sure a candle shop in Crewe Market Shopping Centre was my main motivation for investing here, but it's obviously sad news for the people directly involved. People moaning about shops closing when they're clearly not spending money there is an all-too-familiar story though. You might even say they're beginning to get on my wick...

Dodger, I'm working on the basis of £3 after 20% SA withholding tax but yep, that's the deal. Or you can buy into the shampoo theory (head & shoulders) that this will be £8 soon with a £3 dividend. That's the final dividend by the way, we've already banked an interim worth £2.40 after tax in October, so over 12 months that would be £5.40...

There are very few things in life that look too good to be true but are, this might just be one of them. DYOR of course, usual caveats, coal price could collapse, SA political situation, transport links worse than British Railways back in the day, Putin might give up on Ukraine etc. etc.

I'm afraid I've had to sell some this morning. I'm becoming increasingly concerned that the Baltic Handysize Index drop is going to scupper any chance of a decent profit (and therefore dividend) here, in the short term at least. Hope I'm wrong.

The good news is that the index is bound to turn positive now I've sold some!

Hi Ben,

The HBF ratings aren't due to be published until March, so it's either a leak or (more likely) malicious rumours spread by rival agents/companies.

Interesting range of views! I've added to my holding this morning because I think the drop is overdone based on the information provided, and I'm placing my trust in the management to deliver on their promise of a fully-covered dividend by Q3. To be honest, even if the divi dropped to 1.5p/qtr I still think it would be a good return on my investment, and that should be relatively easy to achieve.

I'm holding for now, really frustrated at the decision to wind this up. Good steady dividend payer going along nicely, then some greedy II comes in & kills the golden goose. Happening all too often now because the UK market is undervalued more or less across the board. If this had been based stateside it would have been valued at £1+ & everyone would have been happy. Hey ho, waiting to see how it plays out now.

I agree Gavster, not a great update. However, the company has been saying for some time now that the dividend would be fully covered by 3rd qtr this year, assuming deployment of funds at hand, and the update re industrial holdings makes for interesting reading. At under 1p the Trust is currently yielding over 8%, might be a good opportunity to add?

Multi-year highs being reached now, not aware of any news due in the short term so no reason to think the recent climb won't continue?

What they actually said was "We continue to target a total dividend payment of 25% of profit after tax in respect of 2022" which is somewhat different...

I'm at 0.94 gaf so in a similar position. My first buy was at 8.18, 14 years ago, so it's been a long wait and a hard slog. I'm still convinced it will come good, one day. I hope it does anyway, I've got a fairly big chunk here now.

Ignore alf's usual disdain for his fellow holders, in another ten years he'll be telling people they should have done this or that. SP will probably be 0.065 by then but he'll be praising the board on a sound job whilst waiting for their "many multiples" to appear. Just joking alf, we all love you really.

Good luck gaf, keep the faith!

RT003, I think you've been misquoted...

I'm not concerned Caposoka, otherwise I'd be selling. I'm just expressing my opinion, and accept that it will differ from many others on here. If it comes to the point where they start laying people off (which, according to the update this morning, they are planning for), it will be difficult to justify paying the dividend in full - in my opinion. Let's see, in early March when the results come out, which way it goes. Lots can happen between now & then - the FTSE is approaching record highs so everything in the garden could be looking much more rosy!

Yes I expected people to disagree re the dividend, it's going to be a difficult call. As I said yesterday, the next few weeks are going to be decisive I feel. If viewings and reservations remain subdued (as I expect), I can't see them maintaining the dividend. If things return to a seasonal normal level (or even close to it), then they may well take that as a sign that the worst is over & pay the existing level. I know they've committed to maintaining the dividend, but so did DLG a couple of weeks before cancelling the final dividend. It means nothing in the context of events going forward.

Either way, this morning's update leads me to think TW is in relatively good health for this part of the economic cycle.

"In the second half of 2022 our net private reservation rate was 0.48 homes per outlet per week (2021: 0.85) and the cancellation rate was 23% (2021: 14%).". Other housebuilders have noted a dramatic drop-off in reservations in the final quarter. Make no mistake, these are difficult times for housebuilders but TW will survive, ready for the upcycle whenever it comes.

The issue isn't price tophat, it's volume. If they only make & sell half as many homes this year as last, they can't afford to maintain the dividend. If prices fall as well, that can only make matters worse. The ghost of 2008 still haunts this company, they can't make the same mistakes again. Do you think they'll maintain the dividend in the current climate?

Positive trading update this morning, under the circumstances. Cost-cutting and reducing land purchases, exactly what you'd expect at this point in the cycle. Very strong cash at bank too, good position to weather the coming storm. I'm holding, as I have since 2008...