Member Info for Krustysmegma

Only the buttons. The shirt is invested elsewhere, fortunately.

Blackrock has been invested here for over 6 years, gradually increasing their holding on behalf of their clients. During that time, the share has traded between 100p and 235p giving plenty of opportunity for them to significantly increase or reduce their holding, which they have not done. What they have done is to collect some very handsome dividend payments for their clients. In other words, exactly the same as 90% of investors here, including yours truly.

Yes I know sain@vision, you keep banging on about it. But, to quote the company when announcing the last dividend, "... in accordance with its progressive dividend policy, REI will pay a fully covered Q1 2022 dividend of 0.8125 pence per share for the period 1 April 2022 to 30 June 2022 (Q1 2021: 0.75 pence per share)." FULLY COVERED. So if they are able to fill some voids, as we must all hope they are capable of, then that money drops straight to the bottom line for potential distribution to shareholders and prevent further asset sales. Whether that will make the slightest difference to the SP remains to be seen.

They crossed the 5% threshold in March 2016, nearly 6 1/2 years ago. What's your point?

turfdoctor yes, as long as you've still got them tomorrow. You can expect the share price to drop back quite a bit tomorrow too though, as usually happens with shares after XD day. The payment date is 31st August, so depending on how efficient your broker is you should have the money in your broker a/c that day or within a few days after.

XD tomorrow, 7.9p divi up for grabs. Get in today or miss out. Who knows, the worst could be over for JUP?

"We are richly rewarded in dividends as it is." Rubbish. We are likely to see 3.25p dividend this year but the SP has dropped 6p, so there's been no reward for shareholders. Factor in the effects of inflation and this has been a disastrous investment in the last 12 months.
The Board is already committed to taking action, it's just a case of what action they take. I'm not normally a fan of share buybacks but I don't think a special dividend would be prudent (as you say, there's a downturn coming). A combination of paying back debt (which they are doing) and buying back/cancelling shares seems the logical option. They need to do something to bridge the gap between NAV & SP.

Interim results due here on 29th September. Given the SP has once again trickled down to the 34's I fully expect to see the Board come good on their promise to return capital to shareholders. My guess would be that they will announce a share buy-back, starting in October, but who knows - they surely have to take some action to prevent our investments slowly disappearing.

pastyc 18th August

From the Alliance News article referenced above (Share News):
"The average premium paid for a new policy in the second quarter was GBP129 higher than for a renewed policy.
Average premiums for new policies stood at GBP500 and average premiums for renewed policies increased were put at GBP371."
So perhaps we're moving into an era, with the new restrictions, where customer loyalty will be rewarded rather than policy-hopping?

Thanks Ben, this is much appreciated as always. You're right, it will be very interesting to see potential buyer's reaction to the half-point rate rise. Let's hope it's not too damaging, especially as there's worse to come.

...you'll find they've all ramped their premiums.

Special dividend 6.5p (XD 11 August, paid 1 September)
Interim dividend (1/3) 2.6p (XD 13 Oct, paid 3 November)
Final dividend (2/3) expected to be 5.2p (generally paid in May)
So that's 14.3p in the next 9 months. Which reminds me, I really need to top up here - quickly!!

Yes I get that dimi, I don't disagree with anything you've said. However, TW had become such a large part of my portfolio that, even free running as it is, it made sense to diversify. I will always hold the bulk of the housebuilder portion of my portfolio in TW, but spreading the risk a little just seemed like the logical thing to do. Valuations are so low currently it's not inconceivable that private equity could swoop on one of the major players and who knows which it might be? So I guess it's a personal thing, given my situation. Each to their own & all that.

Hi Nomad1, I don't have that many but what I have are free carried with cash in the bank. I've used some of my profits to invest in PSN and BDEV, the former for the higher dividend and the latter because I expect them to start paying higher dividends based on their commitment to (sensibly) reduce the level of dividend cover. I still think TW represents a good investment case at this level though, with the yield now over 7% even after today's rally, so I'm not sure why you are struggling? With 34,000 shares @ 39p each you've effectively got an investment of c. £13k paying dividends of over £3k, or nearly 25%. That doesn't sound too painful.

SP up today on the coat-tails of excellent half-year results from TW. No reason to suppose BDEV will have anything other than good news to bring us when reporting their finals, and news of the final dividend, next month.

PCla yes it does, my sincere apologies! We'll get the same again in 6 months, so I guess you could argue 275,000 would be enough? I'm clutching at straws though, it's a fair cop.
I applaud TW for making the payments though. It's good to look after your staff when times are hard, but at the same time it's not part of their basic pay and therefore won't add to ongoing costs.

PCla I don't think basic maths is your strong point. Third time lucky?

Excellent results as you say Littleaston, full year earnings now expected to be towards the top end of expectations and a nice uplift to the divi. Let's see how the market responds, and how the other HB's react too.

I hope it does Taverham, I really do!