Member Info for zac0_4

20,331,023,000 - 20bn

So, 0.1% of shares in circulation!

Android101 - unfortunately, I don't read that to be a reinstatement of the dividend. I read it as a combined dividend and share buy-back being equivalent to previous dividend level. The previous dividend has been cut and we might see some minor increases, as per RDSB, over the years but you can forget dividend payments at previous levels.

BoBetts - yes I thought the request for my age was a little strange. As it happens I'm 64!

Unfortunately, Neil Woodford didn't have the checks in place like he did when he was a fund manager at Invesco. I wouldn't let Woodford put you off entrusting your money to the many fund managers that produce good results over many years - Terry Smith, Fundsmith / Stephen Yui, Blue Whale / Nick Train, Lindsell Train / James Thomson, Rathbone Global Opportunities / Simon Barnard, Smithson Investment Trust . . . and many more

What's that got to do with it?

I currently hold about 20 investments. BP is one. I'm in the process of moving away from individual dividend paying shares into dividend paying investment trusts. I think there's less risk to dividends being cut and so far I've been proven right.

I also invest simply for capital growth using mainly global equity funds. By far my largest investment is in Fundsmith equity. The returns have been excellent averaging around 18% per annum over the last 10 years. Each year they hold a shareholder meeting. This year's contained an interesting question, and answer, regarding investing in oil companies. It maybe of interest to some. If it isn't then simply ignore.

Visit www.fundsmith.co.uk - click on TV - play annual shareholders 2021 video - the question starts at around 41m50secs.

Probably the reasons why I'll look to sell here when I feel the time is right.

The acid test for me will be the sp when oil volumes recover. I'm concerned over the reduction in volume following the asset sales to reduce debt. What reduction in revenue will that result in? Oil price, at current level, is ok. Once the global economy has recovered then volumes will return. There'll be no hiding place then. At that point I'll have a decision to make with my investment that currently has cost me over 30% reduction in my capital and a 50% cut in my dividend.

Not everyone is in profit here and thinks this is a good investment!

"The purpose of the Programme is to reduce the issued share capital of the Company to offset the expected full-year dilution from the vesting of awards under employee share schemes, as announced by the Company on 27 April 2021"

Well, on the basis of the above statement, I wouldn't hold my breath for a positive impact of this initial share buy back.

Currently, for me, an appalling investment!

"and the company they own has absolutely smashed it out of the ballpark" - I'm not quite sure what is meant by this statement. Could it be a 40%+ decline in my capital and a 50% cut in my dividend over the last 3 years?

SmithyS2019 - you say you are a long term holder here. Can I ask how long you've been invested here?

Well, £3.00 appears to be the new £5.00! I'm a long term holder here and very rarely sell holdings. I'll give this until the year end and if we still have a stagnating share price then I'll move on.

I think I read in an earlier post how pleased some people are with the proposed £0.5bn share buy back. It's about 0.8% of the current market cap. So, don't expect fireworks on the back of that!!

Gavster-NBC - An element of the directors incentive scheme is probably based around earnings per share. Following a buy-back there are less shares in circulation so earnings per share will increase. EPS growth = director bonus!!

I don't expect any major increase in the dividend any time soon. I think they've used the crises to reset not to simply reduce and then reinstate at previous levels.

For the last decade (at least) they've been increasing debt levels to pay for dividends and share buy backs. That's not, in my opinion, the sign of a good robust business. I'm a long term holder here and can't see anything above £4.00 (even that) on the horizon.

I suppose if they keep saying it often enough eventually it may happen!

Unfortunately I can't see anywhere near 450p being reached this year.

I certainly won't be holding on to this just to receive a dividend at the expense of capital.

I'm happy to hold for the rest of the year in order to give it the opportunity to further recover. However if we simply see sp stagnation then I see no point in continuing to hold, dividend or not.

RDSB

BoBetts!!!!!

Bobcats - I think you're right. I can't see a recovery in the share price to 500p on the horizon.

BP have set a target to reduce hydrocarbon production by 40% by 2030. Until tangible evidence emerges as to what will plug the lost revenue and profit from this strategy I fear sp stagnation.

Still some recovery in the sp from here but not to the levels some people expect on this forum.

Moneyboy5000 - When did you buy your shares at £2.95?