Member Info for tep1

Bankboy, surely you've won the poundshop hedger award with that post.

Just in time for cold weather to arrive.

"meaningless - a notional valuation based on what stake holders have pumped into it."

SSE has a market cap of £20B P/E 34, E.ON €32B P/E of 13.

"I am sure many Centrica shareholders would say that based on certain metrics, the value of Centrica should be £16 Billion."

I tend to agree with you. CNA has a current market cap of £7B and P/E 1.9. At a market cap of £16B the share price and P/E is roughly £2.90/share and 4, respectively. In 2013 the share price reached an all time high of £4/share.

Its why I hold since 38p. The market will rerate the price massively when it wakes up to it being thoroughly undervalued.

@RWP53 nothing if you're an investor and not a trader! Even the shorters will need to buy those shares back at some point or continue to pay loan fees and dividends. Gambling on share price movements is a mugs game imo!

You'd rather believe some clown on this board saying its worth 110p.? at 200p its 6 times 2023 forward earnings estimates. Industry average is 8 times earnings.

Have you read the labour clean energy plan ? It makes fanciful reading. Particularly the timescales. It currently takes around 13 years to develop a new offshore wind farm. Longer for nuclear. I am sure they will reduce the red tape for planning approval. But development timescales cannot be shortened in time to meet 2030 objectives. A new public owned GB energy will do all this alone? I doubt it! Most likely the private sector will be incentivised to invest in cleaner energy as well. Centrica have already stated their objective is cleaner energy going forward and we will invest between £600m - £800m a year until 2028 in renewable generation, security of supply, and customers.

Although Labour's plan is vague on any detail they do mention untapping finances from investment firms and pension funds to setup a national wealth fund. Not sure what the role of the UK infrastructure bank will be therefore.

"Labour will allocate a fund of up to £500m for each of its first five years to provide capital grants to incentivise companies developing clean technologies like offshore wind, onshore wind, solar, hydrogen, and carbon capture and storage, to target their investment particularly at the areas that most need it, so that as we take on the climate crisis we also build a fairer, more prosperous country."

Then there the bit on Oil and Gas...

Labour and the country value the contribution of all those working in energy, including oil and gas, to powering the UK now and into the future. That is why, as part of our approach, Labour will ensure a phased and responsible transition in the North Sea, partnering with business and workers to manage our existing fields for the entirety of their lifespan. As the North Sea Transition Authority (NTSA) itself indicates, oil and gas production in the North Sea will be with us for decades to come. The charts below show that the significant majority of proven gas in the North Sea lies in existing fields. In the case of oil, there are more potential new fields, but 80 per cent of our oil production is exported abroad.

So nothing changes in the short to medium term in summary. It would be interesting to see how long Labour are in power for.

@calokey When is dividend declaration day? Asking for a friend

Another 1.3M share buy at 2pm.

Interested to know how you arrive at your next entry point of 110p and how you decide your exit point? Is it based on a share price value assessment or just purely figures plucked out of the air?

Someone bought 8M shares on Friday 15-Dec at 15:42 at a midprice of 141p. Was that you longtime?

What is the purpose? wont vodafone kick the can down the road when debt matures?

Send me an editor link. and i can help

Dates are not in chronological order. You should sum up maturity values due on a yearly basis.

Longtime

The market is a fickle beast that will fluctuate.

With those figures PE ratio is around 4.5 times and dividend cover is nearly 8 times. Which makes it a great value stock with room for growth in the share price. Like I mentioned to Delta in my previous post, based on the last 2 years trading gas prices are a moot point, and, what will drive share price increases is most likely the dividend yield.

I saw that candid and dont disagree with your point on the buybacks. its only intention was to allow II's to sell at a reasonable price it seems in hindsight.

Someone remind me how as a shareholder I have benefited from their ingenious buyback strategy?

Thank you for contacting Hargreaves Lansdown.

Unfortunately there is no European wide facility available to HL to reduce the withholding tax burden to clients holding shares in Europe.

Each European country has a different and sometimes complex tax regime/rebate procedures. For this reason we do not offer a service to claim foreign withholding tax (apart from US and Canadian) but do provide supporting documentation for clients who wish to pursue a claim for withholding tax for shares held in non SIPP products.

At present the Irish withholding tax is 25% and can be claimed from the Irish Revenue for dividends paid into HL ISAs/Fund & Share accounts, but this must be done by the beneficial owner of the shares. We will provide our client’s letters supporting their claim and a tax voucher of our pooled nominee holding. I believe you will be able to download the form from the Irish Revenue website (link below):

https://www.revenue.ie/en/companies-and-charities/documents/dwt/iref-withholding-tax-claim-form.pdf

In our experience the Irish Revenue will require a copy of the original tax voucher which can take several months to obtain from the registrar as a fee needs to be sent by Hargreaves Lansdown (this will be covered by us) to cover the administration costs.

With reference to SIPP products, Hargreaves Lansdown acts as the trustee and is viewed as the legal owner of the shares with the client as the beneficial owner.

This therefore means that claims for foreign withholding tax within a SIPP, must be completed by Hargreaves Lansdown.

Hargreaves Lansdown did make an attempt to obtain reduced rates of tax at source for our Irish stock holders. Our application was rejected by the registrars as we were not considered to be a ‘relevant person’ i.e. a resident in Ireland or a qualifying intermediary (QI) or authorised withholding agent (AWA).

At this point in time, we do not offer a complete foreign withholding tax reclaim service at present. This is in accordance with our Terms and Conditions for your account (covered by section A9).

However, the position is under regular review.

Should you have any other queries please do not hesitate to contact me.

Yours sincerely

Dividends Department

Thank you for your email dated 23.05.23. Please accept my apologies for the late reply.

As previously mentioned in reply to you we did attempt to obtain treaty rates for our clients holding Irish stocks within the SIPP, but the registrars rejected our application on the grounds that we were not a Qualified Intermediary.

Unfortunately, at this present time we cannot help clients obtain treaty rates for their Irish holdings within the SIPP, however this is under constant review.

We appreciate your feedback but if I can help you with any other query, please do not hesitate to contact me.

Yours sincerely

Dividends Department

I have kmr in my SIPP and the response from HL has been very negative. Since they cannot obtain exemption or cannot be ar*ed most likely. There are forms to file with Irish tax authority and HL confirmed they need to take responsibility for that. Again their response has been negative and in short, reading between the lines, they cannot be ar*ed as this would need to be filed yearly. Interested to understand who your provider is and how you have managed a rebate.