Member Info for mole_man99

I am sure next years macro will be trickier than we hope for, but GAW will once again show it is not dragged to oblivion by such things.

I still see good long term growth in earnings, with a further boost in awareness from the streaming show, and probably an increase in licensing revenue from that.

With a responsible dividend policy, long term investors should not be concerned. DCA in if you don’t own yet.

Interest rates have everything to do with a share that is mostly about the div yield. Being uncovered and with the company shrinking, investors aslo demand a hefty risk premium over the prevailing interest rate they can get risk free from money market funds and treasuries.

You need interest rates to fall to 3% to get a quid here, and that won't happen soon. By the time it does come, the reduced size of the group will become a factor that may weigh down the SP.

They could always try the old fashioned way to get the SP up. Make more money.

VOD are selling €6bn of assets in spain for €5bn. €0.9 of it is locked up in preference shares. It's hardly a win for shareholder value increase.

If you look, the reasons for the low SP are obvious. I'm surprised it's so high really.

Sounds like a double bubble fee bonanza for takeover and merger lawyers. Fees from the mergers which takes merge till 2029 to become FCF accretive. Fees from the purchase. Fees for the bond sellers who raise the new debt to buy back what they sold off to mergeco.

If they didn’t waste money on divs and buybacks they could buy out Hutchinson for cash today.

They aren’t taking over 3. Reducing market share by palming debt off onto Hutchinson in a JV vehicle.

Who’s gonna run that, well?

RR became not a dog when that new CEO came in and told staff and shareholders it’s a dumpster fire and if they don’t change they will lose everything.

Been waiting for VOD to have its RR moment. There was a chance when they parted with Nick Read, but instead replaced him with a clone following the same broken strategy.

Little hope here to protect your div from capital decline until they change, is my view.

If they stopped paying the div altogether the sp may well go up, or at least stop falling.

The city knows they are bleeding off assets to get a div. They would price in a new level of fiscal responsibility.

Many are probably pinning their hopes for continued divs on selling off Italy, but I don’t think they will find the price they want. Already turned down 11.8bn, because they have over 12bn assets and goodwill on the books for Italy and don’t want to be seen to take a write down.

Using the EBITDA multiples of Spain sale, values Italy around 8.5bn. They need someone desperate or dumb to get over 13bn.

Maybe he's expecting Marge to forgoe some of her salary?

They do have profits, but they keeping giving all of it and more to investors, until there are too few assets left to support the debt.

When will investors realise its a negative sum game and support a rational dividend level. If you don’t, an opportunist is going to take it, and no you won’t get a big over the odds offer. They will wait for 40p and offer 45.

Once that div payment is made, there is not much holding VOD up with next one 6 months away. Remove the towers money and twelve month trailing earnings is well below div amount.

The city know the div comes from reducing assets or raising debt and will mark the stock down over following months in preparation for the next payment.

'found more gold' RNS and dillutive raising incoming...

I would offer they are her fault, as previous CFO. If you had not taken billions from your company in divs and buybacks, you would not need to be selling off core assets, reducing market share through mergers, and getting rid of jobs to save cost which may well lead to reduced revenue.

It was her financial strategy I believe. One she now sticks with as CEO. It hasn't worked. It needs to change.

I repeat my first posting 3 years ago, 'the div is not 'safe' if you lose it in capital. Take care and keep it below 1% of your total assets. Not just stocks, all assets.

Folk then were dumping big lots into their SIPP for the safe divi, at 140p.

Getting a double hit today from sterling jumping. Who knew Cameron was that popular?

Jed, taxes are worked out before dividend payments. Paying more divs does not reduce profit and therefore tax.

That is why as an individual you pay little tax on divs if you are below the higher rate threshold as it is deemed the div has already been taxed within the company at corporation tax rates.

It's an almost philosophical explanantion. If you have paid out 50bn in div, but are borrowing 50bn in bonds, where did the money for the divs come from?

Div payments get booked to accumulated loss/profit on the blanace sheet. Accumulated losses are 114bn. They have never been able to pay a div without raising capital to pay it.

Negative cashflow, declining revenue a reality of selling off assets, net debt rising over the 6 month period. Utterly irresponsible to be paying a div. A very bad stock at this stage.

I finally cancelled my 4g modem card. That's really going to hurt UK revenue. Sorry.

Sacking the CEO does not work, if you replace them with a clone. I can't see any change in direction and strategy. Maybe the selling of assets is speeding up, but that's the same broken strategy Nick was trying to achieve.