Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Agreed. I had lots of these but sold out a few months back. Been piling back in since immediately after the update a couple of days back. Some sort of dividend must be getting closer. I'd see this getting over £1 at that point. But plenty of upside even now in high 60s.
Good job Persimmon has such good margins. New houses will still sell and it won't be long before we have deflation and interest rates are heading down. In the meantime we should get some sort of dividend. Ups and downs of the markets. But hardly doom and gloom...
FTBs obviously took a deep breath when mortgage rates were shooting up, and it's a quiet time of year for new activity. But salaries are going up, inflation is hitting rents, and longer term now is always better to get on the housing ladder than a few years time with all that rent just wasted. And people want their own homes. Combine that with downsizing older folk wanting low maintenance and better energy efficiency and I believe you're talking things down rather than presenting a balanced view. Of course it's going to be tough for the next year or so, but share price is already very low, and cash returns of at least £1 can be expected during calendar year 23.
If cash is £700m at year end, it should climb a bit before the next div payment is made. That will be the distribution for FY22, declared in Mar 23 and payable April or May. I'm guessing that will be about £1 a share. That is the full distribution for FY22. But they also mention the introduction of an interim dividend for FY23 payable second half of 2023. I'm guessing this at about 35p per share. So they will bring forward the initial payment for FY23. Effectively this will reduce the hit of losing the special div. Haven't seen anyone else explain this year - of course the div is reducing but I anticipate the cash payment in calendar year 23 to be slightly better than others. The directors probably want the price to stay especially low as this is in their interests of they buy any of are granted shares based on value. The greedy beggars.
Thanks. Sounds reasonable ex and pretty 'straight'. Very interested in how you reached the 80p-120p annual div. Is that the dividend for the FY22 or does it include the interim div they mentioned that will be paid late in 2023? If the interim is on top I'd expect a total calendar year return of about 115-145p. This is still about 10% cash over next 12 months ish. Hardly terrible and makes this share a bit for me. Also for greedy private equity given the cash so I can't see it dropping much further and sp of at least £15 is easily achievable in 12 months or so.
Dividend payable in calendar year 2023 looks like being well over £1 and probably about £1.25-1.40. This is a yield based on today's price of about 10%. I've just bought some more, switching a bit out of Barratt that has dropped far less. Fingers crossed...
So, no special dividend in 2023. Expect div of about £1 per share paid in first half 2023 but there will now be an interim div for fy 23 paid in second half of calendar year 23. So during calendar year can expect a further div of, say, 35p to give a total cash amount of about £1.35 per share paid during 2023. Hopefully. The Government cladding provision is going to hurt a lot. Up to £350m!
Bellway released reasonable update in their annual report. Cautious but hardly doom and gloom. Awaiting Persimmon update tomorrow - hoping for a slow third quarter but not terrible. Sales completions will be below half year expectations but not too much methinks. May be some hint about dividend policy?
Clearly the 'market' is pricing in reduced profits and dividends. However, it's hard to see the dividend dropping during 2023 to less than £1.35 a share and I would anticipate a similar level for 2024 and then improvement thereafter. All IMHO but still provides a decent yield and upside to sp. I expect either Armageddon or deflation / recession and a quicker reduction in interest rates than the daft central banks and dubious think tanks. The pay inflation is good for mortgage affordability once prices stabilise. Good luck!