Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
This morning we announced our second set of preliminary results. In the year in which we celebrate our 65th anniversary, I am pleased to say that our results show a thriving business and one that has continued to deliver the strategy for growth we set out in early 2015. We have seen a robust growth in profits of over 5.0% to £211.0m. We have also generated a strong free cash flow which has allowed us to continue to reduce our debt, while also increasing dividends to shareholders. The Board has proposed a final dividend of 5.0p per share, giving a total dividend for the year of 7.2p per share. This equates to 57% of our net earnings1, an increase over the 49.5% paid last year. Additionally, we have increased the range for future dividends from 40%-60% to 50%-70% of our net earnings. This is a meaningful change, and one that signals our commitment to driving shareholder returns through sustainable dividends going forward. We have achieved a great deal in the last twelve months in delivering on the strategic objectives we set for ourselves. We have grown our core insurance and travel businesses, launched a panel in motor insurance and announced our investment in a new ship. We have also expanded our personal finance offering with the launch of Saga Investment Services, and we have continued to develop our pilots in private homecare and retirement villages. Beyond this, we have reviewed how we allocate capital to our underwriting activities within our own underwriting vehicle, AICL. While we have always generated a majority of our profits from areas in which we do not allocate any capital, our underwriting activities still require the deployment of a significant amount of capital. We have therefore entered into a quota share arrangement for our motor insurance underwriting operations. In essence this will mean that we will reduce the amount of risk we carry, and therefore the capital we need to hold against that risk. As a result Saga will generate additional free cash flow and this has enabled us to increase our dividend payout range whilst continuing to reduce our level of debt. Looking ahead, we have a clear plan in place to continue to build on progress we have made in the past twelve months. Central to this is becoming an ever more customer focussed organisation, enhancing our customer insight, creating personalised interactions and working to reinforce our long-term relationships with our customers. We also aim to continue to grow our insurance and travel businesses, while identifying and investing in areas for future growth. Finally, we will be working to further develop our people, who are central to ensuring that customers receive the Saga experience right across the business. In summary, our fundamental aim remains to deliver long-term, sustainable value for our shareholders by achieving the right balance between customer growth, earnings growth and returns to shareholders through dividends. I am pleased that
shorting it Dividend after full year result It will be £37++
We will see!!!! today.
Another one for the back burner. It will come good ...one day... GL Saxon
Sorry 2p Lol
any other shares? While we waiting for the £2 here!!!
Sssssssshhhhhhhhhhhhhhhhhhhh It is worst when the Mrs find out I am sleeping in the car tonight. Lol Saxon
Hello arfey Every little help I had to get the kids money to top up. LOL Ha ha ha Saxon
Hi Mysticmeg I see on ADVFN the last few buys went through @1.445 and the spread 1.4 and 1.45. My thinking as the buy price reaches the 1.45 " due to demands", the MM push price up, however, you seeing more than one MM. It helps the buyers and the seller "as a seller can see the next step is coming or drifting". Ta Which provider are you with and how do you find them, please. By the way, that 357 trade is not mine. LOL Saxon
First of all SORRY, just spotted my mistake I do not have L2, I am depending on ADVFN trades. Perhaps if you had shared with us this info. (which I can not see ) we will be wiser. Saxon p.s. Please grow up, I made a mistake and apologized, however, you done it deliberately. Thaks, SIR GL
Nutmeg I am sorry but I only interpreting what I see, and as I posted, the MM put the price up. FACT Thank you Saxon
Up to get sellers It is definitely moving in the up direction, slowly but surely.
Hello jackie1 I noticed you not a red badge member, where did you see the L2? Ta Saxon
Placing behind us, the kitty full
If you invited to the placing, good luck, if not the price is what you see. That placing was mates rate "are you included?" It happens all day long, get on with it That what makes the market. If you think this way mate. please think about the MM making a killing every second by moving SP
Good That is settled Can we move on, please Buys 3.1M Sell 1.3M
Some punters got some bargains It will close BLUE
Fresh money will move in The buyers have it by 20K
Leaky from 2 days ago, hence the volume By the way, it is a buy Let us see how it go " big swings coming"
Will the 2p come today or tomorrow? It is COMING Saxon