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I am somewhat surprised to see the share listing go live, but no company website, financial calendar etc. Maybe I am expecting too much, or missing something?
I haven't been involved (as an investor) in a similar situation before. Any thoughts when we might start to see Haleon as a separate entity?
Some more details RE the share buy-back , care of SimplyWallStreet.
Redrow plc (LSE:RDW) announces a share repurchase program. Under the program, the company will repurchase up to £100 million worth of its shares. The program is structured in two tranches. In respect of the first tranche of the program, the company has entered into a non-discretionary agreement with Peel Hunt LLP to purchase shares up to a maximum consideration of £50 million. The second tranche of the program will be undertaken by Barclays Bank PLC to purchase shares up to a maximum consideration of £50 million. The primary purpose of the program is to reduce the share capital of the company. The majority of the shares repurchased under the buyback will be cancelled and a portion of the shares will be held in treasury. The first tranche of the program will end no later than February 18, 2023, the second tranche will begin as soon as the first tranche is complete and end no later July 31, 2023.
Good timing it the SP see’s a drop in value over Q3-Q4 due to Macro economic factors, more shares bought back in the first tranche, but might just balance out the 2nd half.
My gut interpretation is that the initial impact on the SP (especially once the lock up period ends) will be a negative one, but Pfizer are in the Pharma / Biotech space (like GSK) and not in the selling consumer (healthcare) staples business (a'la ULVR) which is what Haleon is aiming to be.
Once the lock-up and sell off is done, the focus can return to Haleon doing what it was set up to do and run on its own legs. So if you think there is a good future in consumer healthcare staples and it fits your portfolio, one to keep / buy more. If it doesn't then one to divest yourself of.
Seaking1, Id be (genuinely) interested in why you think it's a good omen?
Im glad I am not the only one struggling on the garden front. My runner beans are yet to put in an appearance yet! Hopefully they are just like my CEY dividend, delayed, but eventually forthcoming!
Sotonspike, I think you are right RE Haleon, certainly one to watch. With both GSK and Pfizer wanting to offload its stake, and a heavy debt pile heading into a period of consumer slowdown, I think the SP is going to head south once the launch hype and lock-up period wears off. I see options being;
1) Hold, collect dividends, accumulate at a lower SP if it suits your portfolio.
2) Sell early, add again at a lower SP.
3) Sell and invest elsewhere.
Normally option 1 would be my go to (early stage investor), but the more I read the more I am swayed to option 2.
Missed this update, but it looks like progress continues on the Southern Division office. News story posted on the 24/05/22. Go live date is 'July'. Target remains at 600 homes PA.
Link - https://www.redrowplc.co.uk/news/latest-news/corporate/redrow-southern-debuts-a-better-way-to-work-with-first-look-at-new-divisional-office/
I’ve just had an email through from the portfolio management tool I use suggesting that the dividend will be €0.71 (£0.60 at todays exchange rate). Ex-dividend 08/07/22, payment on 02/08/22.
I’m surprised it’s being paid TBH.
I would suggest doing some reading of your own and then talking to a financial advisor, to me at least 100K is not an insignificant amount of money and I would not invest it based on the opinions of a few random people on the internet.
As you have said, you already have shares in a number of established companies that pay dividends. You could start by looking at their growth and dividend payments to see if historically they have generated the returns you want. I am going to hazard a guess and same consistently it is unlikely as many of these British based companies dont enjoy the same growth returns as companies listed on the American exchanges.
Greetings all.
I have been re-reviewing the HY financial report, as I am considering increasing my position in RDW. One point of interest that I had not noticed before was the startup of a Southern Division.
Source - 2022 Half Year Report (Pg. 4) https://investors.redrowplc.co.uk/sites/redrow-ir/files/investor/reports-and-presentations/2022/redrow-half-yearly-report-2022.pdf
'We have appointed the leadership team for our new Southern division, which will open this summer and is currently acquiring its first sites. '
A quick Google search turns up the following news element from Redrow posted last year
Source - https://www.redrow.co.uk/newsroom/national/2021/6/redrow-launches-new-southern-division
'Covering Surrey and East and West Sussex, the new Southern division will sit separately to our existing Southern Counties and South East divisions and will be headed up by recently appointed Managing Director, Rod Martin, former Divisional Managing Director at Taylor Wimpey for this area. At maturity, the new division aims to build 600 new homes, annually, ...'
Depending on how quickly they can reach maturity, that equates to another 10% extra annual completions, and given the higher than average cost of house prices in the area, this may have a more pronounced effect on the average completion price for RDW overall.
A good bit of news in my book. Helping to counterbalance some of the risks of inflation / stagflation.