The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Been following Cameco and Sprott Uranium Miners ETF after the Cameco results as they fell sharply from open at 2:30 while Numeco had mid price of 103 which it stayed at for a time, now 99.7 so Numerco probably an hour or 2 behind.
88v8
"Never mind, not my problem, I'll just continue trousering the divis and leave the next generation to pickup the tab :}"
From one of your previous post.
"already my largest holding. i moved everything into my isa to shelter the divis from tax.
just glad that i wasn't able to take part in the rights issue at 105 in old money. that slightly ****ed me off at the time, seems a long while ago now."
So it is your largest holding (or was) and you get the dividends with just the withholding tax, enough said.
STATEMENT RE POSSIBLE OFFER
https://www.londonstockexchange.com/news-article/SMDS/statement-re-possible-offer/16324471
"Unlike DEC who cannot buyback more than 3 days in a row"
And even when they do at such low amounts it hardly does anything. Based on the the last 3 days of BBs even if it was repeated every day would still be far less than the 10% passed at the meeting.
This is a golden opportunity to increase NAV, burn the shorters and either use the dividends saved (in a few years) to pay down debt, make acquisitions or increase the dividend. So far BBs are the only thing that has worked slowing the SP fall, Rusty time for talking is over, step up have a concerted BB program.
"In the mean time, the buybacks will have saved a considerable sum through not paying dividends on the cancelled shares."
And from then on while DEC is still paying Dividends, If Rusty makes another acquisition as in his message he should explain to shareholders why this acquisition represents more value than BBs. As shown in the previous post and on Oakbloke it does not take a huge amount of cash to greatly increase the NAV and save 30% pa (if dividends hold) increasing NAV every year thereafter. Very disappointed BBs stopped again, Rusty talks a good game but where is the action on BBs? The BBs are so low I have spent more cash on DEC shares on some days the average daily BB in this round, no wonder the shorters are in control.
"88v8"
This is of concern but the situation we are in is the SP is dropping far faster than the dividends, for me it is the overall return that is important, however I fear cutting back the dividends will cause the SP to fall faster.
Can't understand why there is no script dividends available, use the saved cash to BB shares, at the very least if the investors sells the shares they save WHT and no doubt some will keep them and more in the hands of long term investors not day traders.
"Not sure Securities and Exchange Board of India rules are relevant to DEC?"
You are right, it is not, came up when I was googling maximum share repurchase in the US and I obviously got this wrong, however Biden does seem to have it in for BBs.
From NY times
"Biden Renews Pushback Against Stock Buybacks"
It seems he wants to raise to 1% levy on BBs( he introduced) to 4% .
From previous post
https://theoakbloke.substack.com/p/dec-imals-and-decibels?r=2y9mrf&utm_campaign=post&utm_medium=email
"The point of this article is to explore what would happen if the dividend was paused in 2024"
But from
https://www.investorgain.com/faq/what-are-the-sebi-rules-and-regulations-for-share-buyback/26468/
"For FY 22-23, companies are allowed to buy back 15% of their paid-up capital and free reserves via open market buyback through a stock exchange. For FY 23-24, the maximum buyback limit permitted is 10% and the same is 5% for FY 24-25"
The maximum money that can be diverted from dividend for BB is only 1/3 of the dividend for this year and 1/6 for 24/25 if dividends remain the same. Therefore with a 30% yield pausing the dividend for a year just to BB shares cannot be done.
Genghis15
"The reason I won't engage is your agenda seems more political than investment focused"
The reason you won't engage is you cannot answer the questions I posed (as a result of your rebuttal of my post) is you have no rational or reasoned argument.
Here is another question that you will not answer.
How is it that my agenda "seems more political than investment focused", when all of the political comments I have made relate directly to how the politics affect DEC and vast majority of my post have nothing to do with politics?
However the question I would really like you to answer is why you believe you can tell people what they can't post on this forum when you are not a moderator, what gives you this special privilege.
" Sanctions are for the purpose of punishing and here we give a reward to the person we want to punish"
Could not agree more, there are so many companies with innocent shareholders being forced to take huge losses to so governments can tick political boxes. Not only do I hold POLY but also BP and SHEL, BP had to give away £25bn and SHEL £5bn due to UK government policies and then got hit with a 75% EPL tax but obviously better off than POLY. The main benefactor of these policies is Russia who will end up getting a lot of great assets for virtually nothing, the other result is a closer links between Russia China, India and Iran all caused by our useless politicians.
"Genghis15"
"cos I won't engage in your agenda"
You do not want to engage at all with any meaningful dialog. I backup up my argument with facts and posed some questions to you (twice), no answer.
"Leave your politics at the door, this is an investment forum"
You also seem to think you can tell people what they can and cannot post on this forum.
"it's no good getting irritable with me"
I am really not surprised when people get irritable with you (I am), when you refuse to answer questions on statements you made which are rebuttal of other posts and state what can and cannot be posted on this forum.
"you seem to be under the impression a long posting history gives privileges, and newcomers should tread carefully. i disagree"
It is nothing to do with posting history it is the quality of you posts, your lake of politeness, inability to engage when asked questions and telling people what subjects that cannot post on are the issue for me.
Another question, are you invested in DEC?
Genghis15
"You are swerving off into a political arena due to your beliefs, irrelevant to the investment case."
Judging by your response it looks like you are unable to answer the question I posed to just. I will repeat it so you can try again
"Then please explain why 4 Democrats started a prob into DEC based on a flawed report by a few ESG students made a few years ago looking at 70 wells when DEC has 69,000, Also why has Biden gone after Gas exports on the excuse of ESG when oil and coal are far worse but not done it to them?"
If you like you can add to the answer on why on both of these Democrats announcements were shorts taken out just before.
“Leave your politics at the door, this is an investment forum.”
Yes it is an investment forum on a company suffering from political ESG attacks so politics are now part of the mix even if you cannot understand something so basic. Don’t know where you have been for a number of years but politics play a larger part in O&G investments, ESG etc, take a look at EPL.
Please tell me who are you to tell me what I should do, do you think you are some kind of moderator deciding what is posted.
Genghis15
"It seems to me odd to blame Democrats."
Then please explain why 4 Democrats started a prob into DEC based on a flawed report by a few ESG students made a few years ago looking at 70 wells when DEC has 69,000, Also why has Biden gone after Gas exports on the excuse of ESG when oil and coal are far worse but not done it to them?