Member Info for richred_uk

If I put my pessimist's hat on, top line growth rate has slowed (although still positive). Dividends didn't grow Y-o-Y. Although profits grew, it was only by £4M when royalties (100% profit) increased by £12M, so we made £8M less profit from core operations (making and selling stuff) on £32M extra sales i.e. our margin has been squeezed, so future growth may be less profitable as opposed to the massive margin increases we have had on extra turnover in the last few years.

That's not entirely my personal opinion, but it's not unreasonable to read it with a negative slant.

SORRY - ACCIDENTALLY POSTED INCOMPLTE

" I'm getting to the point where I'm expecting a 1.5p final dividend now"

Sorry but not happening.

To raise the divi from 7p/ share, the *Annual* NAV/ share has to average over 107p (RNS 22nd March).

Currently the Quarterly NAV's have been:

103.9 Dec-21 rns date 7/3/22
103.3 Sep-21 rns date 20/12/21
101 Jun-21 rns date 7/9/21

This averages 102.73p/ share (I am assuming all quarters are equal and not getting into days). So to raise the average NAV to 107p, Q4 would need to be 119.8p/ share, which would be lovely, but unrealistic I'm afraid. I don't expect to see the divi over 7p until this sort of time next year earliest, more likely 2024.

" I'm getting to the point where I'm expecting a 1.5p final dividend now"

Sorry but not happening.

To raise the divi from 7p/ share, the *Annual* NAV/ share has to average over 107p (RNS 22nd March).

Currently the Quarterly NAV's have been:

103.9 Dec-21 rns date 7/3/22
103.3 Sep-21 rns date 20/12/21
101 Jun-21 rns date 7/9/21

RNS stating they expect NAV to rise by 13-15% when they do the full revaluation for the end of March.

From the rns

"· Opportunity, at the discretion of the Company,

o to draw down, commencing from June 2022, a bullet-loan of up to £1.95m repayable in shares with a maturity date of 31 December 2025 at a 10% p.a. of interest rate; the principal of the loan also includes also the financing of the arrangement fees for the transaction equal to £450,000."

so first up I'll give you that it's at the company's discretion, but how desperate would you have to be to pay 495k arrangement fee plus 10% interest (on 1.95M) to get 1.5M.?

Ahh - yes, like Google finance - they adjust for divi's in their gain/ drop - I've confused myself/ got excited many times through that!

D'Oh - failing memory, 13.27 divi, not 13.87

"Given this is X dividend today, this is a big rise in the sp"

How do you work that out? I'm showing down by 14.3p versus dividend of 13.87p, so a very slight fall. Obviously it bounces around a bit, but I don't see it giving a big rise (or fall) today.

Cheers
that makes sense if it excludes REITS etc - my 7/ 8 are all REITS or some form of IT.

"There are 29 uk based shares that pay quarterly ."

Really, where do you get that from? I hold about 7 or 8 and am aware of a lot more in the REIT-type sector or does your list exclude IT shares?

I was just looking at what the divi's have been for each financial year since I held, my judgement calls on which divi relates to which FY is up for debate as GAW has never been totally clear about divi structure, but the trend is very nice - my question now is whether there will be a divi declared at YE to increase this year's pay out (I expect one declared end May, paid end July) and what level it will be.

15-16 - £0.20 - one divi (I may have missed something here as this is when I started to hold)
16-17 - £1.00 - 4 divis
17/18 - £1.30 - 4 divis
18/19 - £1.25 - 4 divis
19/20 - £1.45 - 4 divis
20/21 - £2.35 - 5 divis
21/22 - £2.35 - 5 divis so far

re: "(hopefully suggesting the final dividend will also be increased)"

They have pretty much told us what the final divi will be:

"The 4.5p dividend reflects an anticipated one third and two thirds split between the interim and final dividend respectively. This dividend will be payable on 12 May 2022 to shareholders on the register on 22 April 2022. The ex-dividend date is 21 April 2022."

So on the face of it, a £0.09 final divi in Dec 22, UNLESS they mean a 1/3 and 2/3 split of the divi pot and the final divi pot will be split over fewer shares post-buy back. If there were 10% fewer shares and a split of the pot size (optimistic, but hey ho), then the final divi could be £0.099, but the accountant in me says work on £0.09.

Interesting one - I hadn't seen the divi in my account yet so messaged my broker (AJ Bell) to ask what was happening and they came back to say that Livermore sent them a cheque for the divi's and they are waiting for it to clear before allocating it out - somewhat surprised that anyone does this by cheque any more, but if you are in the same boat, this might be why.

Hah if only more of my questions were so quickly resolved.

Has anyone seen my payrise?
Has anyone seen my commute with clear traffic?
Has anyone seen the Capita share price stop falling?

Just testing my powers...

The fund isn't earning enough to cover a 7p dividend (hence the recent reduction in the share premium account to fund divi's @ 7p). I'd like the fund to cover it's current dividend before increasing it! I'd love it to go up of course, but not at the risk of future growth.

Have I missed an RNS announcing the Q3 dividend (I expected it to be paid in mid Feb and can't see anything) or have I missed an announcement that it will be delayed? Anyone seen/ heard anything?

https://www.panini.co.uk/shp_gbr_en/blog/panini-and-games-workshop-announce-new-partnership

"Panini UK Ltd today announced a new partnership with Games Workshop to create a range of Warhammer collectables, with 2022 launches for both stickers and trading cards. It’s time to fight for the future of humanity across a vicious, war-torn galaxy! Prepare for battle with Panini’s first new launch, Warhammer 40,000: Warriors of the Emperor Sticker Collection.

A mighty collection of 204 stickers and 50 Hero Cards, with a buildable box and a double-sided pull-out Space Marines Armoury poster which allows collectors to delve deeper into the 41st Millennium where, driven by war and assaulted by the foul forces of Chaos... Xenos, Daemon and Traitors emerge from the darkness to prey upon the Imperium. The armies of the Emperor rise up to grind these vile enemies to dust with their armoured boots. Inside the sticker album, collectors can honour the Ultramarines, the Dark Angels, the Space Wolves, the Blood Angels and the Sisters of Battle – the supreme and devoted warriors who live each day in endless warfare. All who know Warhammer know… in the grim darkness of the future, there is only war… and this is the sticker collection to bring that war to life!"

https://www.panini.co.uk/shp_gbr_en/blog/panini-and-games-workshop-announce-new-partnership

@ Etotheipi

You are on the right track that they have an extra £40M available to distribute to shareholders. As to whether this is a good thing or not, it was discussed on 4th August if you scroll back in the messages - some here day it is good because they can keep getting good divi's, some (me) say it's not because it means that the company is having to tap reserves rather than using earnings to pay those divi's and that means it has less capital to invest in revenue generating assets. Jam today vs Jam tomorrow. Good depends on when you want your jam.

Got mine about 11.30 in AJBell.

Spent it in the five horseshoes by 12.30