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Interestingly the only one of the "Big 4 " payers (AV. MNG, LGEN, SLA) to see an increase in share price today is SLA who went XD yesterday. Is this approval they are paying a divi (so far) or are MNG and SLA not being lumped in with the insurers ?
According to Hargreaves Lansdown it has and has dropped correspondingly. Let's hope they pay.
I'm inclined to agree with you zebbo. Whilst I think a lot of Dividends will be history this year and probably reduced for next year I hope a glimmer of hope can be taken from the 'Update on Solvency' available to read on this site. Whilst much has happened since the 17th the statement "Av remains well capitalized...solvency at 175% after payment of our proposed dividend" at least shows an intention to pay as at 17th. Granted things have deteriorated since then but perhaps a glimmer of light ?
Yes I would have preferred special divi too. Not a fan of buybacks.
No special dividend, meagre 2.9% increase in final divi and £150 million share buyback.
Hooray !
I see no sign of the combined entity trading so far. Market cap remains the same for Northgate, name remains the same. Has it been delayed for some reason or does it kick of later? Dreadful day on the markets withstanding, shame to see NTG down into the 260's at one stage.
Although Northgate Redde hope to have the merger tied up this quarter I assume Redde will
1) Still report interims around 27/2
2) Pay an interim dividend
If no interim divi we could have some time to wait before the first combined payout. I noticed Northgate shareholders benefitted from a dividend during merger discussions will Redde be treated the same way ?
GFRD have reached a £32m. cash payment settlement on the AWPR contract incurring a write off of £52m. Taken together with an earlier adjudication award on an unrelated historical contract the group will report an exceptional write off of circa £61m. I suppose its out of the way now but whether this represents a favourable outcome ?
Reading the update it sounds as though share buybacks rather than special dividends will be on the cards for next year.
Just picked this up from Sunday Times. Apparently Graham Prothero is trying to engineer a move from Galliford to Bovis - possibly as Chief Executive or other senior role. My immediate thoughts were this had been planned all along along with a number of unprintable ones !
Interesting....
I thought and am still of the opinion that Crest Nicholson will engineer some sort of tie up with GFRD at some point. Bovis made an offer (or was it the other way round) some time back for GFRD so I wonder if this is old news regurgitated. Can't find any mention of this elsewhere.
I think 7.80p for the year - 3.60p for the final and 4.20p for the interim already paid making 7.80p equivalent of 9 cents euro. Imagine future interim and final will be rejigged ie smaller interim larger final. Correct me if I'm wrong.
If that is the case would a merger with Crest Nicholson whose balance sheet from memory is in pretty good shape make some sort of sense? Just seems good timing that GFRD's Truscott jumps ship to Crest knowing that a restructuring at Galliford is about to take place. In the right place at the right time ?