Member Info for Tom78

Must be other market reasons for such a large drop for such a small dividend of 5.44p. MNG and PRU have not dropped more than dividend today and both ex div today

Fair enough, but this has been on a low p/e for many years now. It remains to be seen what they are planning to do with all that excess cash, probably small acquisitions as you mention.

Just read that article and it was not very complimentary to say the least! I wasn't aware of a lot of the issues raised regarding the culture and conflicting approaches of asset managers and insurers. Whether all of it is entirely true we will never know for sure. We will see what happens with a new CEO regarding the structure.

Rubbish dividend - they should be paying more. Half of the profits sit in the bank doing nothing, the other half get split between the dividend and a share buy back which is to raise the eps to make the BOD look good and try and prop the price up.

I think the issue is the market always looks forwards, sometimes a bit too much imo. I have seen it many times before if a company releases stellar results and the shares do nothing or even fall heavily. I think the market is thinking coal prices may have peaked coupled with ongoing issues with TFR meaning the market doesn't want to pay more right now. If things stay steady for a year or two as they are in relation to coal price and volumes shipped the this will be much much higher. The current $300 per tonne coal price could be seen as an anomaly. Nobody really knows what is going to happen, but I will hold my shares for the dividend whatever happens.

I think lowering the guidance by 1 million tonnes is holding back the share price. The rail performance continues to get worse.

Google adjust for dividends when it is a fixed sterling amount as is the case here 221.63p
For companies that declare and pay in foreign currency they can't do it because the fx rate is variable.

Because they don’t want the dividend or hoping to buy back lower if it drops more tha the divi. Large holders may find it more tax efficient to do so.

I only read the business review RNS as the others I can't make head nor tail of tbh. Results not great, but not disastrous either. I like the bit about reducing costs by $70M by 2023 that should help the bottom line. Still very much a work in progress following divestments of established and profitable businesses in Jackson and M&G, with headwinds of China oppression in HK and draconian Covid rules lingering.

To be fair when I first bought shares I had no idea what a UT was either, I learned a huge amount from knowledgeable people who have posted on these boards over the years and from other reading. I lost money on AIM rubbish when I started out as well, but good lessons cost money!

Key Highlights

Net income of $2,903 million, or $32.56 per diluted share, including the impact of non-economic hedging results under GAAP accounting
Adjusted operating earnings1 of $225 million, or $2.52 per diluted share
Total annuity account value of $208 billion decreased 17% from the second quarter of 2021 primarily due to lower equity markets
Continued progress in the registered index-linked annuity (RILA) business, with second quarter sales of $490 million, up from $199 million in the first quarter of 2022
Returned $116 million to shareholders during the quarter through $66 million of share repurchases and $50 million in dividends, in-line with full-year capital return target of $425-$525 million
Increased capital position at the operating company level, with an estimated Risk-Based Capital (RBC) ratio at Jackson National Life Insurance Company (JNLIC) up from the first quarter of 2022 and above 450%
Cash and highly liquid securities at the holding company of over $800 million at the end of the quarter. This is above Jackson’s minimum liquidity buffer of $250 million.
Successful completion of $750 million senior debt issuance and retirement of the last remaining interim financing facility

Dividend held at $0.55 for the quarter.

UT is the Uncrossed Trade, which is the closing price auction determined by the big market players mainly. The UT can be marked as either a buy or sell depending on what the bid and ask prices were at the time and what the agreed strike price is.
Whether it is marked as a buy or sell makes no material difference to the next days price as there is an opening UT the next day, which is obviously influenced by any good or bad news usually released at 7am. The trade size of the UT on FTSE100 shares can often be very large because of the volumes involved and on special Witching days the UT can be massive when a lot of options expire, sometimes around a 100M pounds. I always use the UT as the official close price and anything after that I generally ignore, as you can't be sure what it is.

Off topic but for small mowers you can't beat a Honda IZZY petrol mower. The bases can rust but the engines go on for years, our one I replaced the rusted base with a new one and kept the old engine on it as it worked out a lot cheaper than a new mower. MTD was great back in the 80's 90's but like a most stuff now is all far East made (China) and is not the same quality. A lot of this is the companies wanting to increase profits and reduce costs, because people want cheaper goods.

Pru results this week? This is one of my bottom drawer holdings nowadays and don't follow as closely as I should.

Earning release today after US market close, lets hope it's showing signs of improvement!

With our own money that is what we would do. Buyback programs allocate what they are going to spend and buy back similar amounts each day regardless of the price. I don't like buybacks anyway, much better to reduce debt in a rising interest environment. I remember years ago Imperial brands spent millions buying back shares in the £30 range and the shares still went down to £14. Money well spent?

All it said was trading is robust, but costs will be 5% above what was guided, hardly affects IGG !
CMC does more damage to IG than than almost anything else, I wish it would be taken private and de-listed or taken over

Think most of us knew that was coming from lower commodity prices and volumes.
This reduced dividend of 221.63p on it's own still gives me over 11% return on my purchase price of 1988p so I'm happy.
Recent buyers maybe not so.

Pretty sure that information only applies to shares held on foreign stock exchanges. From the last results:

We determine dividends in US dollars. We declare and pay Rio Tinto plc dividends in pounds sterling and Rio Tinto Limited dividends in Australian dollars. The 2021 final dividend has been converted at exchange rates applicable on 22 February 2022 (the latest practicable date before the dividend was declared). American Depositary Receipt (ADR) holders receive dividends at the declared rate in US dollars.

In the past they usually use the previous days exchange rate before the results to work out the sterling amount. The sterling amount will be known in the results for us holding on the UK market.

I had a quick scan of the results pre-open and thought it looked good form what I could tell without delving too deep. Usually as the market digests all of the report it will set the tone for the days trading, so good to see it finish up 10% we've certainly been patient enough and proves the market was wrong when it dumped us on CMC's results.