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It was cancelled as there was talk of RA being sanctioned and it wasn’t therefore appropriate to pay him a dividend. The company has to discuss the sanctions and bypasses for the remaining shareholders. They can’t just decide to do that themselves.
This isn’t like Chelski as that’s ‘his’ asset we aren’t so it’s a different situation.
Also ensuring a large cash pile during this uncertainty is appropriate
I disagree, the company itself isn’t sanctioned and any dividends payable to RA can be securely held and not paid.
Shouldn’t therefore affect dividends and the businesses balance sheet is far healthier than most
For anyone even the slightest bit concerned that got into this share sub £1 (like myself) here are the important things
*Annual dividend after 1 year will pay for your entire shareholding. So worst case scenario you hold for one year and get your money back (even if delisted which I don’t see happening). For perspective I have £104,000 in Lloyds at 48p average and will receive a final 2021 dividend of £2,887.
My shareholding here costing £13,000 would have netted me just from the cancelled interim Div £5,630. That’s just an interim!
So, don’t panic relax
That makes more sense then.
For the record I’m no longer holding as excited at 3.51 couple weeks back as I’d made plenty on this. Surprised checking back that the oilies aren’t higher given the price of gas and oil.
Currently in for 60k with lloyds up £5k but holding till they release all that cet1 capital they have. ATB
You contradict yourself in your post. Short term people don’t look at Divi….. as they are ‘short term’ people.
Also lots of companies such as Apple don’t pay a Divi but are money printers. They attract for share price gain.
I still have 20,000 shares (originally 32,000) and sitting on a 19k profit on those 20,000.
It’s a tough one as BP is still a long way off the pre covid level of £4.50 ish so should still be a way to go in the share price.
It is of course always tempting seeing such a profit.
Went from £30,000 pre covid to £152,000 as is so at some point I will call it a day and leave shares all together just a question of when.
Really…. Really sumb how the share price isn’t going up and up and up. Look at this from Reuters
‘SINGAPORE, Oct 6 (Reuters) - Asia liquefied natural gas (LNG) spot prices surged by 40% to a record high of over $56 per million British thermal units (mmBtu) on Wednesday, amid a global energy crunch and low gas inventories.’
UK gas prices hit £4 a therm yesterday too!
Lets hopw the trading arm is working their arse off.
Mojo thought that back in the 3:20’s/30’s and he had to bail on it.
Being short is a dangerous game as it is. Look at the trading hubs on gas they’ve been forced to stump up and borrow hefty sums which they’ll eventually have to call time on.
Bp going one way Imo at that’s ^^
Yup so just over $4 increase vs Q2.
UK Gas price Q3 117.5p vs Q2 64.79p
Henry Hub first of month Q3 $4.02 vs Q2 $2.83
Refining marging Q3 15.2 Q2 13.7
In short expect big numbers!
Rules of thumb for price movements is
Oil price*
Brent +/- $1/bbl
$340m
Natural gas price*
Henry Hub +/- $0.10/mmBtu $30m
Rosneft
Not applicable n/a
Customers & products refining margin
RMM +/- $ 1/bbl
https://www.bp.com/en/global/corporate/investors/results-and-reporting/trading-conditions-update.html
It will update at 3:30pm currently showing data up to 22/9
Bp will be locking in a hefty first of month Henry Hub price of over $5.80 compared to what $4.23 this month.
Shii tonnes of money to be made here at these prices for Q4.
Will be interested to see Bp’s trading conditions update on friday 3:30pm to see the impact this last week has had on average Q3 prices.