aspers - I agree bp was a good buy sub 3 pounds in a rising oil market. i sold recently after buying from 200p right up to 300. I have made a tidy profit over the last couple of years and I am quite grateful for that. BP share price will run on. But at todays prices I think CNA has better value indicators. I recently bought again during the dip around 69p.
The facts: Its a corporate governance transparency issue and not financial performance related.
Those responsible in DX have resigned. But why have Grant Thornton resigned?
DX said the Inquiry has not proceeded as expediently as initially hoped by the board.
Grant Thornton says their reasons:
(i) actual or potential breaches of law and/or regulations
(ii) DX action and response to the evidence generated by that investigation and inquiry;
(iii) transparency of information
A return to a small dividend of 1.5p makes sense and would be far less than SSE div yield of 5.2% at todays price. But it will all depend on EPS reported next month. Looking at expected earnings dividend cover would be 2.3 at this level.
Trading update is usually early Feb and the interims early Mar. Half year has already ended (December). I suspect we will get a cascade of information at the same time. Hopefully along with that a firm trading statement indicating further significant growth which propels the share price into the 40s.
@email I am SW London and I see a lot more DX vans now than ever I used to.
Interested to see how you derive your share price expectations here chelsea? DX. have exceeded market analyst expectations and share price has moved between 33-38p based on these previous expectations. I assume these same analysts will be penciling in revised future earnings forecast. I would expect shares to move into 40p+ bracket at a minimum now. I would be very surprised if it will hang around at these levels for long.
share price will hold based on future earnings and divi. a capital return will cause a temporary blip but value investors will soon return. 500mil cost reduction per annum will be favorable to the bottom line and therefore future dividend payouts