focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Yes, and while rents go up, life goes by, and mortgage rates already start to fall (and almost certainly interest rates will be falling by end 2023), this is a huge benefit to buyers! Good thinking, counter or beans at PSN - or marketing executive.
Vulture1. Wouldn't be a hedge of there wasn't some cost. I was pleasantly surprised by the update and got in first thing at £13 having sold at £12.91. Not complaining after today's rise but it could have been different.
Not sure your expectations of £1.50 are imminent, but as soon as dividends are being paid again and the company gets back into FTSE 350 then price should stabilise at well over £1. Right now it's getting close to a sensible price for a company that's not paying divs, despite promising EBITDA.
In the financial calendar - it states 3rd Jan to mid Jan is a closed period ahead of the 2nd quarter update. So the update could be any time up to mid Jan! Closed period is just when trading by people in the company is restricted because of insider info. However, the share price jumped a bit just at the start of the closed period...
Some very uninformed stuff in this thread. The company has already announced big changes to dividend payments. Share price has already dropped so take account of this. There will only be one payment for FY just ended. Likely to be between £1 and £1.45 pee share - probably lower end. Company is retaining more cash, and profits will be down. Plus more cash has been set aside for cladding and similar. Then an interim div for the calendar year 2023 will be paid in second half of 2023. Given current conditions I expect this to be no more than 40p per share. My best guess right now is total div payment of £1.45 per share during this calendar year made up of £1.05 final div for 2022 and 40p interim div for 2023. Then perhaps 80p final div payable in 2024 plus 60p interim div payable late 2024. Then hopefully gradual improvements. But goodness knows!