Member Info for sheffieldowls

I will be interested to note the price paid by the company for the latest buybacks and if they have agreed with their broker the highest price that they are willing to pay. I mention that because for the buybacks in May and June last year it was noticable to me that on the few days where the share price was above ninety pence a share no buybacks were made. I was following this matter very closely because at the time of the buybacks last year I was adding to my holding on many days.

There has been an interesting debate this morning on the value of Buy Backs on the ADVFN board I believe that the different views are well worth reading.

I am also pleased to note that there are further share buybacks as it indicates to me that the company believes that the share price undervalues the company and surely they know better than any of us what the true worth is for this company. I was interested to note that the authority to buyback their shares was for a significantly longer period than was the case for the share buybacks last year. I believe that this was a wise move as it improves the chances of not having to overpay for the shares being purchased by the company.

I spend nearly have the year in the USA and I am reminded because of the vast distances that its not practical to have an electric vehicle for many journeys such as the snow birds travelling from the Northern states to Florida. Anybody who believes that in a few years time that all vehicles with be EV not CBE's is in dreamland.

Quiggers52, I am wondering if you have read what has been said about your latest post on the ADVFN board.

Quiggers52

I will be very surprised if the dividend for this year amounts to just 9 pence a share as I expect they will at least maintain the dividend that was paid last year ie 10.25 pence a share though my best guess is that the total dividend for this year will be at least 10.5 pence a share. If the share price remains below one pound a share I hope that the board will have a further share buy back scheme in the coming months.

Does anybody on this board have detailed knowledge about what is happening in South Africa as described by some posters on the ADVFN board? I am referring to issues of crime and corruption.

Are we not taking sufficient notice of the problems in South Africa in relation to electricity black outs and the potential of civil war in the country. There has been several interesting posts in recent days on the advfn board which I was not aware of its worth having a read of the postings. I was not aware of the criminal issues.

You are totally correct that by 2030 there will not be the infrastructure to support the shift to electric cars and should we want it to happen anyway because of the issues relating to batteries that I and others posted about several weeks ago on this board.

Velo
Thank you for your kind words re the interim dividend payment. I wrote to the board about this matter at the start of the year and I received a reply from the assistant company secretary who acknowledged my communication but she told me that she could not tell me what their plans would be as it was price sensitive information. As you are aware the total dividend payment for 2022 was 10.25 pence a share. It has been predicted by Liberum the house broker that the final dividend payment will be 6 pence making a total dividend payment for 2023 of 9 pence a share. If that is the case that would represent a not insignificant cut in the dividend payment from the previous year. I don't believe that this will happen because of it's profitability and cash position. Most shareholders appreciate as much certainty as possible regarding the dividend payments from our investments hence from my perspective a maintained total dividend for the year of 10.25 pence would be appreciated. Most shareholders would agree with Jaco's recently stated view that the company is undervalued by the market hence I believe that sometime this year the company should introduce a further buy back programme as was the case last spring. As you are aware several million shares were purchased for cancellation at around eighty five pence a share what a great deal that was for the remaining shareholders like you and I . I am well aware that some shareholders like buy backs and some do not. This point was mentioned by Jaco at the presentation last September when he replied to the first question on this matter which came from me by the way. I actually am more interested in the dividend payments than the current share price because as things stand I have no interest in selling my shares in the company. Where else can I receive a yield of around 9% from a company that has more cash than it knows what to do with and has an amazing level of profitability in relation to its income. I am aware that some shareholders will sell if the price reaches say 150 pence a share and make a good profit and good luck to them I say but that's not for me. I intend to retain my holding of approaching 1% of the company and let my executors have the problem of unloading them on the market!!!!!!LOL.

Which is why they should have further share buy backs while the price is so low.

In truth LunaNera I was up at 3am because of jet lag so I am wide awake. I am glad that they are going to pay two dividends each year going forward.

Very much so but I had to get up early to watch it as it starts at 7am US east coast time.

I agree with you LunaNera. I have mixed feelings when I see the share price below what I consider to be below the intrinsic value of the shares. After any purchase of shares in a company we like to see it rise and be in profit but against that its great to be able to add to a holding at a bargain price such as we see at the present time. My aim this year is to buy further shares when funds allow so to take my holding from just over 0.9% to 1% of the company. If all goes to plan in future I will turn left when flying to the USA as I did yesterday rather than turn right even though the price of such tickets are nonsensical.

Velo

I find the predicted reduction in the dividend payments by Edison Group for future years as compared with 2022 to be strange as I cannot see the company reducing their dividend when its profitability and cash position is considered. I expect for the third year in a row a dividend to be paid in April.

Giraffe 4444

I wrote to the company about this matter several weeks ago. I was hoping that they would inform shareholders about the fact that they intended to pay a dividend in April as they had done in the previous two years. However they replied telling me that they could not answer my question directly because it was price sensitive information. I never expected them to just tell me of their plans. It looks like we will have to wait until later this month for us to find out if we will receive another dividend in April. I believe they will pay one by the way but I could be wrong of course.

I have asked the company at the meeting with shareholders on February 22nd a question re future dividend payments as Its my wish that the company if their financial situation allows will pay two dividends each year an interim dividend payable in April and the final dividend payable in December. At present its unclear whether there will be a dividend payment in April even though that has been the case in the previous two years. As you will be aware the company paid dividends totaling 10.25 pence last year so it would surprise me if that was not at least maintained for 2023.

Tach SLP is also my largest shareholding in which I hold over two million shares. My second largest holding is Ramsdens Holdings the pawnbroker both companies are tipped in the Investors Chronicle.

Liberum the company broker has increased its target price for Ramsdens Holdings from 240 pence to 260 pence.

The way that the share price of Ramsdens has surged this week in anticipation of the results on Tuesday makes me wonder if my predicted price of 230 pence may be too conservative.