Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Agreed, the covenants are now an issue unfortunately. Personally I'm going to wait until the tide turns and the ME starts green-lighting some of these projects again... even if that means I need to pay a bit more for the shares.
I sold out between £0.80 - £1.00 after having picked up shares all the way down to £0.15. The board was very quiet when these were selling for 15p too! My mistake was selling too quickly after finally breaking even after so many months in the red. Good luck to all current holders, very good company. Just keep an eye out for too much money being held in Ukrainian banks ;-)
They are giving shareholders more options by paying a special dividend instead of conducting buy-backs. Shareholders are free to use the special dividends to purchase additional shares if they wish or they can keep the cash in these uncertain times. That's the idea anyway
Maybe they read the cash flow page where Next expects to return almost 9% (ord + special dividends) and still reduce net debt by £45m this year. Given they just hit their estimate for this year it gives more weight to those payouts also being met. That's what made me purchase a few more shares anyway
Usually the ex-dividend is about a 3-4 weeks before the payment date. Therefore you'd expect Next shares to go ex-dividend in April prior to the May payment of 45p. I expect we'll find out the exact dates on Thurs 23rd March (full year results). Happy to have picked up some more shares today with an 8%+ dividend yield due to these additional payments :-)
So let me get this straight: BXR Group is the second largest shareholder apart from the CEO in FXPO? They are looking to sell half of their holding (70m shares or 12% free float) to institutions for 110p a share... although the amount they sell may ultimately change. The RNS has certainly scared off a few buyers today!
Kinda guessed this would happen with the CEO selling off a big chunk at 50p. Waiting for low 40s or 30s before I buy back a small position. Still can't quite believe the speed at which the original shares I bought for 33p rose to 49p! Still very cheap by all accounts but need to take into consideration the considerable leverage this business has.
Excellent news, congrats. In a weird coincidence I am going on holiday tomorrow - the same place I visited on the day that Ferrexpo lost the $180m and the shares tanked to 29p... I had a paper loss for a huge amount of money that day and it kinda put a dampener on the entire trip. Well over the last couple days I have significantly reduced my FXPO holding and made a small profit as well. My remaining shares now stand at a level in which I wouldn't lose sleep if we fell to 30p again... I've used the proceeds to pick up some oil companies yielding 7% and some retailers with similar payout yields. I still have a decent chunk of FXPO left so that if we hit £1+ I'd still be a very happy man. FXPO is still very well run, profitable throughout the cycle and cheap (especially if that dividend comes back online soon)... but I don't 100% trust the board or management and therefore don't want a large part of my net worth tied up with them. All the best guys!