Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
UK and Dutch gas prices creeping up. Today's Rotterdam and Newcastle coal prices moving in the right direction. Just need some cold weather and RBCT + TGA share price to follow them.
https://www.barchart.com/futures/quotes/NF*0/futures-prices
https://www.barchart.com/futures/quotes/NF*0/futures-prices
https://www.barchart.com/futures/quotes/LUX22/futures-prices
https://www.barchart.com/futures/quotes/LQV22/futures-prices
Some good news if they can get the extra locos running soon:
https://www.miningweekly.com/article/transnet-to-hold-off-on-loco-procurement-following-in-principle-agreements-with-crrc-e-loco-and-alstom-2022-10-25
Is the strike over? I hope so but the SATAWU's FB page would suggest other wise:
https://www.facebook.com/101790993247306/photos/a.677122382380828/5565133966912954/?__cft__[0]=AZU_-Pxq_Iqwn5gbvbV05AcdLau_-_xGUOU_Wf0P-V-6VANQXC5DbYMLgDhQi1mLzZmIV73LI8mHtvrL8th-wRSaY7In4LHmCeBHBMigUVueeBn6HZuN-SQmtHndm2KP97Bw006jxjO4YKGtQgPiGdWlB32XUH6fk3b5jAWz8dkQYDG0eFIbabLFXyD96slUKDw&__tn__=EH-R
Only UNTU agreed so far, SATAWU still striking according to this:
https://zululandobserver.co.za/275751/transnet-announces-wage-agreement-with-untu/
RonnieTK, I assume you got your quote from the TGA Divi doc, further down in that doc is this quote:
"Should dividend withholding tax be withheld at a rate of 20%, the net dividend amount
due to shareholders is 240.01464 pence per share (Pound sterling) (300.01830 pence
gross dividend per share less 60.00366 pence dividend withholding tax per share)."
So unless you are able to claim back the tax (which most can't) it should be 240.01464 pence per share tax paid. In my account the divi received, divided by the shares held (I switched most to a spread bet long to reduce tax loss to less than 4%) comes out at 240.01466, so close enough to be roundings.
https://www.thungela.com/uploads/attachments/cl6tn13spanepojufc8e8lac9-2022-interim-ordinary-cash-dividend-declaration.pdf
Transnet need to hurry up and sort this out as it will damage the SA economy through increased load shedding shutting down other industries and reduced mineral exports/taxes/royalties.
The limiting factor for for TGA has been railing capacity to the port. Stocks at the mines are no good if they can't get to the port and stocks at the port would have been sold anyway, in addition to all newly railed coal.
https://zululandobserver.co.za/lnn/1205689/watch-kzn-police-use-teargas-arrest-striking-transnet-workers/?fbclid=IwAR3A_GB7B5X5v0kCS6Hn7uXTbyCCUiRvLS_5hQygCfLhR5sxyXueCHpE5uw
According to the RNS : "Payment date to shareholders Monday, 10 October 2022". Though if you have shares in a nominee account you may need to check with them to be certain when it will show.
https://www.thungela.com/uploads/attachments/cl6tn13spanepojufc8e8lac9-2022-interim-ordinary-cash-dividend-declaration.pdf
With the SP down only approx. 155p on a 240/300p ex-divi atow, it's a good day to be in TGA.
I used my hedged spread bet long system to reduce withholding tax on half of my holding, avoiding exposure to market movements. The result has been to reduce the effective wh tax on that segment from 20% to approx. 4 to 5% after costs. Congrats to those that managed a less than 240p difference using the sell and buy back.
With the next divi around the £4 -5 mark on my current estimates, I'll look to run most of my holding through the system next time.
seanjukes, The dividend post withholding tax would only have been 240p so i think you are 10 points to the good (once the divi is paid into your account), minus your dealing charges.
Tweet:
https://twitter.com/angusenergyplc/status/1572873351927717888?s=20&t=UKWQoub36tsxWhzeIqWY6A