Member Info for Krustysmegma

Arso you can't Strictly, never mind I'm sure most of us get the gist. Love the reference to Dick Emery - oohh you are awful!

Thanks for the numbers, no doubt you'll have seen my exchanges with hics below re the similarities or otherwise to 2008. To be fair, there are some pretty scary monsters to negotiate in housebuilding waters next year and, as much as I could argue that BDEV, TW. and PSN (my personal holdings) are much better positioned now than they were then (particularly wrt debt levels) I don't know if that will be enough to help them survive, let alone continue to pay dividends at current levels.

As we don't know when or at what level inflation might peak, how long it will remain above the 2% target, when interest rates might start to fall, the economy recover, war conclude, national/individual debt levels reduce, a Prime Minister & Chancellor survive longer than a school term etc. etc. etc. there's no way we can realistically forecast when things might look a little brighter for potential house-buyers and therefore housebuilders. Since we've already seen a significant recovery from recent lows, though, the market at least is betting that things will improve at some point in the future. So I'm holding for now.

Thanks again, always helpful to get your insights.

K

One of the insti's could be keen to get hold of some cash quickly? The combination of c.7.1m recent buybacks plus the c. 4.78m director buys all at 28p, gives a pretty clear indication of where management see this going, and also provides tangible support at that level. Let's hope it's a sign of better times ahead.

I could have written an identical message pennysworth!
Thanks for the head's-up Monkshood.
K

Still spouting your lies carter, and still not coming up with a shred of evidence (I mean ACTUAL evidence, not somebody's third uncle twice removed posting guff one one of the websites you apparently continue to frequent.). The truth, as even you should be able to see by now, is that we're all still here and unbelievable thankful to have had the opportunity to get protection from this horrendous virus. Has China not given you any clues??

...when I and other PXS holders received our SIS shares! (my final comment on the subject, apols to those who think it's off-topic).

No opinion alf, just a comment about "another company". You can pretend there's no connection with PXS if you like, but we all received the shares when they came to market. Accepting it's a long time ago now, and (fortunately) most of us sold years ago.

lejjb, thanks for the in-depth analysis. Couple of questions from me so I can be clear about your thoughts on this:
How could BDEV buy back their own shares with excess cash if they were in debt?
If the company needed cash to buy more land, surely they would pause the share buyback?

Ongoing power disruptions. Unfortunately the sp will take a hit this morning.

Popped in to see how our previously-conjoined "twin" is getting on. All-time low of 14p today. New CFO appointed on 16th September, since when the SP has halved. Perhaps not the impact SNM was hoping for? He'll no doubt still emerge smelling of roses (again).

Beware!

OK thanks for the heads-up Jim. K

I've got the same dilemma Jim. I suspect there might be a late rush to pick these up this pm ahead of XD so that might be worth 1p, we'll see.

I'm struggling to work out what the level of future dividends will be here, which obviously makes investment decisions difficult. I've got a small investment here and am looking to increase my holding ahead of (hopefully) further SP improvement but I'm not clear what future returns might be. Can anyone help?
From the latest trading update: "With effect from the year commencing 1 January 2023, our ordinary dividend policy will be reset to 50% of pre-performance fee earnings and will no longer be subject to a minimum of the prior year amount."
So, does that mean a final dividend for f.y. 2022 in May of c. 9.2p? Or 9.2p less the equivalent of the buyback programme ending in December? Or a potentially lower figure than 9.2p less the buyback programme?
And for 2023, does anyone have a clue what "50% of pre-performance fee earnings" might equate to in terms of interim & final dividends? Do people expect any further distributions for 2023 to be by way of more share buybacks?
Grateful for anyone's knowledge or thoughts on this, TIA. K

MrMath, you're not really living up to your name are you? I've paid taxes on my earnings all my working life. Now I'm a pensioner, I'm paying taxes on my pension too. However, the government has decided it can afford to give everyone a tax-free allowance each year to protect their savings, so I've been maxing out on that allowance for me & my wife. As a result, I can also take a tax-free income (the natural yield) from my ISA. I do so with not the slightest feeling of guilt.

... and our policing? Our health services?? Our ability to keep Putin from marching in & taking over???
Taxation is the difference between civilisation & chaos, like it or not.

All things considered, a pretty good update & the interim dividend maintained too!

Thanks adv11. I think I know you well enough by now to take your comments as I find, and hope you do the same with some of my more contentious stuff. At the end of the day, we both want what's best for us & our families. Glad I've had the discipline in the past to move all my investments into his 'n hers ISA's and my SIPP, so the dividend tax threshold doesn't affect me fortunately. It looks as if someone might have brought a defibrillator over here though as it finally looks to have some life in it, let's hope it's a sign of better things to come! My average here is 37 ish & I've got more than I really should have because of the yield, so it would suit me nicely to sell a few down if it gets back to 36-37. My portfolio has more than enough red just now but I'm not too worried about it. I've been here before and managed my way through so I'm confident I'll survive this bad patch too. In fact I've started buying a few more here and there, the yields are just so tempting and look rock solid! Have a great weekend my friend, very best wishes. K

So my next buy price is 80.00. I've already bought back my trading shares, half at 160 (sold for 280) and half at 120 (sold for 200), so from this point onward they'll be keepers. Never thought I'd have the chance to buy again at these levels, but that's the advantage of top-slicing - it can open up all sorts of possibilities. I'll keep buying down in 10p increments until I've used all the cash I banked when top-slicing last year. That should leave me free-running the equivalent of several million shares (in old money). Love this share, as all fellow top-slicers do!

Oh yes, I remember now. I checked on TGA website buy couldn't find anything to confirm one way or the other.

February.