The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Not a good day for a trading update with Credit Suisse roiling the markets. Seasoned IGG investors are used to these setbacks as we get these huge slumps in share price quite regularly. They say the definition of insanity is doing the same thing over and over again and expecting a different result. I suppose by that judgement I am insane to not sell these shares.
HL is not the cheapest for funds and their own funds are awful, but for a share only ISA including investment trusts which are treated as shares the fees are capped at £3.75 per month. Not the best for regular in and out traders as the commission can work out costly but for infrequent buy and hold types it's not really a problem.
I once had a budget low commission broker forced into insolvency two weeks after I had luckily transferred out of them and unlucky ones had their portfolios frozen for a very long time which could cause very serious hardship.
Hasn't helped the share price recently. You would think with the vix going vertical there would be some buying here also IGG similarly whacked. I suppose all financials are feeling it right now I know I am!
With the much reduced dividend last time, I wonder if that will drag the share price because the yield now is not very good compared to what it used to be. I would like to see those treasury shares cancelled and not given to directors.
I suppose the trouble is it might be seen as a 'one and done' large dividend for the past year. Today does not change much as the earnings have been widely predicted based on the coal price for the past year. From January this year things do not look so rosy and this is why the shares are where they are. With future coal at $100-$120 the dividend will be much lower.
You think the company should pay out money it has not earned? Earnings last year were less than the previous 'bumper' year! Better than taking on debt to pay an inflated dividend with interest rates where they are.
Don't blame you. I have held and added for over a decade here but trimmed a few at 165p for better opportunities. Higher interest rates and bond yields have hit the infrastructure funds which are seen as a reliable income stream in a low interest rate environment. Now this has not got much going for I'm afraid. Never quite recovered from the Truss mini budget debacle.