Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yes, very nice. 17% up shortly after opening.
Another USD100m buyback and 18% net revenue guidance for 2024. Would like a dividend quite soon.
Very glad I topped up at £11.68 in December and £12.21 in January, taking my average up to £7.35.
13% increase in divi to us2.80pa is what I wanted. A 2.6% drop in the share price tomorrow is not, but the former is permanent and the latter, I hope, temporary.
Total profit for the full year is us934 or us10.76 per share, massively down on 2022. Wish I could get my head round the yo-yo numbers. In the meantime, I'll carry on reinvesting the divi and trusting that the massive cash cushion will protect against dropping back down into the us30s again.
Good to see that the total divi for 2023-4 will be $1.29, up from $1.03.75 in 2022-3. And that regularly increasing the divi by a small amount seems to have reduced the level of ersatz outrage in the media that used to greet each raise. Although the drop in profits will have helped as well.
Still a very long way from the $1.88 we got annually from 2016-19. But at least I topped up by roughly 50% during the covid dip, so my total Shell income will at last be back to 2019 levels this year.
At $50.90 per share my 62c divi of yesterday (-15% NRA tax) bought me another 9.3 shares. Making an extra 50.5 in total this calendar year. My overall average price since Feb 2021 has been $32, making a total gain of slightly over 50%. Not bad, but effectively all that gain has been since this June, when the price was as low as $30.
Like others here, I think there may well be more to come. With ~6m fewer shares in issue than a year ago, that's a saving of $15m pa in divis alone, and a significant increase in eps. So I'm hopeful that the divi for next year will rise to around 70c per quarter - which would still come in at only about $10m extra given the reduction in total number of shares.
**There is enormous value to be unlocked with some pretty simple re-organisation and increased share liquidity.**
There is indeed, but with no especial benefit for the Hellers, who seem quite happy to continue creaming their own profits and director emoluments at the expense of all the other shareholders.
Getting really close to $50, at last. I always "knew" it was going to happen, but one does tend to lose confidence when it's hovering around $30, as it was as recently as June.
I'm due about $470 in divis to be "dripped" on 14 Dec - probably not even 10 shares this time, down from 15 in June.
70c quarterly divi come March?
My broker with Investec charges me 0.6% (the ISA is over £1m). It was supposed to go up to 0.8% a few years back, but he waived the increase, partly as it's a fairly inactive portfolio (mostly just reinvesting dividends in existing holdings) and partly because I've been with them since it was Carr Sheppard's, and my late father started out with Henderson Crosthwaite way back when. You get what you pay for.
And yes, obviously you can't transfer between a SIPP and an ISA, so I'm buying TGA in ny ISA when funds become available, and selling in the SIPP at the same time. Very minor dealing costs, certainly compared to the gauging of the 20% v 10% divi tax.
All "grown up" brokers will charge 10% wht. I have my ISA with Investec and they have no problem getting my wht at 10%. Unfortunately a lot of execution only brokers like AJ Bell and Hargreaves Lansdowne can't be bothered to do their jobs, so people with them get stiffed for the 20% rate. I have my SIPP with HL so I am actively switching the remaining TGA shares there into my Investec ISA (all them by next divi). There's a significant (4 figure) difference between the two tax rates for me. If only TGA would dual list on the London stock exchange the problem wouldn't arise, but I expect there are reasons why that can't happen.
Not been a good few days, not been a good few months. Well underwater here, average around £9. But, but, I think the fall is excessive. Sure, profits are massively down, but it's still in profit, which is pretty impressive in the circs. And it is a well run and (normally) cash generative business.
So, despite not being a fan of catching falling knives, I added 33% to my holding just before close @£2.99 (if accepted), taking my average down to £7.50.
Will take a while to get back into the green, possibly more than a year, but I think it will.
Yesterday's 4% drop, the day before full year results, looks slightly suspicious. Can't see any real reason for the drop, as the results merely confirmed what was in the guidance. I'll carry on holding, so pleased by the (modest) rise in the (massively well-covered) divi.
An extra 11.7 shares at $39.89 for this quarter's divis. From 15.2 @ $30.12 3 months ago. Now 95 extra divis (12%) in divis reinvested over 2.5 years, and total gain of 15.13% since spun out of the Pru.
Not bad, but still hoping for $50.
I stuck this week's divis back in here at about 43p, and April's 1.6p at about 45p. Hardly a stellar return, but over 5% extra shares this year to help future compound growth - "the eighth wonder of the world" (Maynard Keynes).
Athletes completes the purchase of Ensham mine in Quuensland, NSW, this week. At 2.7mtpa (current estimate - originally estimated at 3.2m) and fob of $120/t, this should produce a profit of over $100mpa, against a purchase price of $170m. Seems quite a bargain.
1st half results looked pretty decent to me, especially the 5% bump in the divi. But the markets clearly think otherwise, hence the 2.3% drop in the share price. I'll hold, and buy more on any excessive dips if cash is available, as I have been since these were £3ish when I bought my first few 100 in the mid 80s.