Member Info for robincherry1iclo

Great news, sounds like it is worth the effort. I am certainly going to have a go at this later in the year, although I believe I won’t be able to reclaim against share I hold within my SIPP. I remember your original post thanks for sharing the results.

Maybe I am - apologies all. Not my intention to confuse.

Slide 9 shows the dividend and mentions the Special Dividend of $39.6c. When this was explained during the Webcast (which was dated yesterday- the day of the AGM) the guy said something like, ‘and so we are pleased to announce today a Special Interim dividend of $39.6c’ - but didn’t say when. I really surprised that they still haven’t updated their website to show this on the dividend information page.

I can’t seem to get to the Webcast anymore but here is the link to the presentation that they ran through: https://www.ferrexpo.com/system/files/uploads/financialdocs/investor-pack/20210317-ferrexpo-fy-results-presentation-vf.pdf

If you watch the webcast of the AGM from yesterday they said that due to the recent iron ore price and Fxpo sales they would be making a Special Interim dividend of $39.6c/share, but didn’t give more details of when etc. There was also a question asked I the subsequent Q&A about whether they would consider share buy backs. The answer was that they have done that before but with limited success. But it might still be considered. Reading between the lines I felt they are more likely to pay higher dividends. Wish I hadn’t been spooked by the military buildup on the border. I panicked and sold. I built back a holding but much smaller than previous.

Another great announcement today from FXPO- special interim dividend of $39.6c/share, although they haven’t said when it will be paid, but will go nicely with the Final dividend of $13.2c/share payable on 1st July.

Just been reading about it and it would appear to be a major issue particularly if the ship is not moved in the next few days, which appears unlikely. Haven’t quite worked out the knock on effect on FXPO. But they won’t be the only company affected, that’s for sure.

Although the 65% Fe fines is off a little from it's recent highs $188.50 today, the Pellet Premium is the highest I've seen having jumped $6.30 today to $59.80.
Averaging a combined $240 this year!
Close to double last years price, let's hope this continues all year!

Thanks guys, very useful. Strange that this info doesn’t seem to appear of the FXPO website.

Hi Richard10, do you have a link to that report, I can’t seem to find it anywhere! Cheers

I’d say it’s a pretty important metric. The key to a big dividend and hopefully for much higher share price.

I've been tracking the iron ore price too:
Nov'20 65% Fe - $136.44 -- Premium $26.37 -- Total $162.81
Dec'20 65% Fe - $167.92 -- Premium $31.36 -- Total $199.27
Jan'21 65% Fe - $190.39 -- Premium $47.71 -- Total $238.10
Feb'21 65% Fe - $189.35 -- Premium $47.45 -- Total $236.80

Long may this continue.
No guarantee that FXPO will be getting this price on all tonnage however. Their 2019 report talks about the renewal of long term contracts, one imagines some of those (maybe stuck a year ago or more) may be at lower prices, but as those contracts need to be renewed then these higher prices will play increasingly in the company favour.

‘Net’ no debt. It is often difficult for companies to raise finance (particularly in some parts of the world). It is likely that FXPO will keep the financing they have in place and pay down as per the original terms. Which means they have more cash in the bank for other things, - capital expenditure, dividends etc

Hi LuckyLuciano, I have invested/traded FXPO on and off for 10yrs and made reasonable returns. I have never seen the company in such a good place as now. Iron ore price right up there, post pandemic demand helping to create a sellers market, political issues between China & Australia (mainly around coal), several competitors having disasters over the last few years (Vale - 2 tailings dam breeches;), leading to reduced production (improves demand potentially for FXPO). FXPO’s tailings dam seems to be much better constructed and far less likely to fail. From what I could work out the exchange rate US$ to Ukrainian currency in our favour in 2020 over 2019. Scheduled maintenance all completed and Max production 12.4mill/tons/annum reached. Plan in place to increase production to 20mill/tons, which at these prices could be paid for from cash flow ...... All my calculations about share price come to very similar conclusions. Short term the eps in the full year accounts next month will be key. 2019 it is 65p. 2020 could be £1.50, maybe even £2 (maybe a little fanciful). Eps £2 @ current price of £3.50 = P/E ratio of 1.75. Share price will then naturally float (rapidly) higher. To get back to a similar P/E that we have today would indicate a price of £10.50. Another whole year of current iron ore prices and you can possibly double that price IMHO. I’m in for the dividend, which could be really big (I wouldn’t be surprised if they announced a final dividend at 13.2c and another special interim at the same level, paid a month or two apart) but also for the longer term share price appreciation, which as somebody on the board mentioned could be life changing to some people. Never been so excited waiting to read an annual report ??

https://www.stockopedia.com/articles/why-the-market-might-have-got-the-ferrexpo-share-price-wrong-181319/

I will speak to HL too

I love that article

The custeel website doesn’t seem to be working correctly today, anybody able to view it?

Divi is already in HL accounts. Take a look under Transaction history - income.
Or check your contract note if you purchased recently, if it says ’Ex divi’ then you bought too late

Just seen your comment after also posting about it - apologies