The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
By my reckoning, currently £0.85/ share if they didn't buy again. Every £1.3M spent takes about another penny of the next dividend (roughly).
If you go to the RNS section, read the half year report on 2nd December, it's all in there. Brief version is it will be declared in Feb 17, paid March 17, £1 per share less the impact of the buybacks. My maths currently has it at about £0.87 per share, dropping with each buyback.
All the publicity I've seen from it has been in geek groups anyway, but it can;t hurt :) I have to say that as a hardcore vegetarian, lovely liberal type, I can usually see what PETA are trying to achieve in a slightly cack-handed way, but this one ... nope, I've got nothing.
I think the next Divi is expected (but not yet declared) to be paid at the end of May and go ex-div at the end of April and will be 20.6p/ share (see the Trading Update RNS 8/12/16). Nothing until then.
2.7% lfl growth. Based on last year having been very strong and the store numbers growing I'm happy enough to sit and collect the divis.
Fingers crossed it's a good one. SP been taking a mild beating the last few days as I suspect people got a bit jittery. Hopefully it will push up with a good update as it did last year.
Including today's RNS, they've spent pennies under £13M to remove 457k shares. Based on 138.8M shares which is what the dividend pool of £277.7 M per year is supposed to be based on (IIRC - please correct me if not), the buy back means that the March dividend of £1/ share will be reduced by about £0.09. Subsequent dividends from Sept onwards (if the whole thing froze right now) would be higher by about £0.003. By my table, based on the pay out plan to Sept 2021, the scheme has a net cost of about £0.06/ share so far. Whether you think that the SP has been supported by more or less than £0.06 I guess is the crux of whether this has been a sensible use of shareholder funds. Personally I am leaning towards thinking no and I'd rather the SP was allowed to find it's own level and if I thought it was undervalued I'd buy more. That said, if the SP suddenly jumps up into the 30's then I might see the buy back as having been genius :)
.... and as I post that the price drops to be down by £0.245 and the world seems to make a little bit more sense (in my calendar anyway).
Isn't today the ex-div date? If so, I'd be expecting to see around £0.30 come off the SP, but we're only down about £0.12 an that's against what feels like a high UT closing price - most of the trades yesterday pm were around 8.40 - 8.45 so we're only down about £0.075. Thoughts?
It looks like it was the posting of a correction to a mis-reporting last night - here's the trades from the share trade listing with surrounding trades: 18-Jan-1710:01:44502.505,000Buy* 502.00502.5025.13kO 18-Jan-1710:00:08518.851737,774Buy* 502.00502.50195.99kO 17-Jan-1717:08:40518.8517-37,774Buy* 502.00502.50-195.99kO 18-Jan-1709:59:45502.25135 502.00502.50678.04O Both appear right next to each other although one with the obviously erroneous timing. I think you'd find the original if you could go that far back in the records.
Which would be nice. iii co uk/stockmarketwire/383434/broker-forecast-peel-hunt-issues-broker-note-games-workshop-group-plc?context=LSE:GAW
Good luck - I hope to get up to that level of bravery and liquidity in time :) Probably quite some time!
I'm getting offered 5.025 as a sell, so I hope there's some support holding at 5.00
Might be because Mitie has put out some sort of bad news - they are down 15% (haven't read it yet so I don't know the details, just the headline)
Excellent - I'll be able to buy myself the new Blood Bowl with that divi ;)
I am assuming that the latest RNS is detailing part of the company's share buy-back plans (25.5k shares @ average of £28.78). If it is part of the plan to put a floor under the share price, are we happy that it seems to have kicked in at a reasonably high level and thus keeps the SP higher, or do we think that the Company has had better opportunities to buy more shares for the same amount of cash? I'm still learning a lot of the realities of direct investing, so I'd welcome hearing different views and thoughts on this. Personally, I think that if I was spending my own cash, I'd have bought in lower, but it it puts a higher floor in place, then as a holder I'm very happy - I'm just trying to reconcile the 2 thoughts.
www fool co uk/investing/2017/01/10/is-there-more-upside-to-games-workshop-group-plc-after-profits-more-than-double/ As usual with MF articles it doesn't actually try to answer the question that is posed in the headline or the sub-head (Should investors add this high-yielding small cap to their portfolio after today's positive trading update?), but it's more publicity for the share/ company. Linking it to Character Group as the comparison is pretty tangential except that both companies 'make toys'.
:) You work on the same calculations as me Quoth (which is either good or terrible news for us both). Personally I think that GAW should deliver above a 5% yield which would bring down the target share price of 900p. I can get close to a 5% yield from things like REITS (watching BBOX at the moment) and some large FTSE100 companies (LGEN is paying about 6%). With GAW having positioned itself as a generous dividend payer and being a smaller, niche outfit, I'd be expecting something more like a 7% yield. On 45p divi's, that's just shy of 650p SP - 6% yield would be 750p SP, which either means that we are well over-valued (if you accept my yield rationale), OR (and this is why I'm holding and not selling) that divi's will rise - at 7% yield on a 750p SP, that would be about a 52.5p divi. If divi's rose higher and we got a sustained 60p divi, then at 7% yield, it would indicate a SP of 8.60 ish - close to enough your 900p. There's quite a few if's in there, but that's what makes this fun, no? Just a note - I'd be really welcoming of challenges to this logic - I'm less than a year into direct investing and it's good to have my assumptions challenged and to learn.
Out Now and showing pretty much what the December RNS said - my broker has just quoted me £7.70 to sell - it's hard to turn down but for the moment I'm holding - if H2 can keep up the momentum, this could be a cracking year. I'll be very interested to see what level the interim divi is set, as free cash flow for H1 was much higher than last year (roughly double if my skim reading/ memory is correct).
This in spades - I started following in the 160's after Motley Fool tipped it, and every rise I told myself to wait for a retrace to get in - gah! Congrats to those who were braver than me.