National Grid Issues Short-Term Dividend Policy To Mixed Analyst Reaction [View article]
Hi Ricksteph
Probably my english, being Dutch.
No, NGG has not cut their dividends for 2012/12, rather they have cut the increase in the dividend growth, but just for that financial year, until they announce the new dividend policy going forward for up to eight years.
Buy Vodafone: Share Buybacks, Dividends From Verizon Wireless And Dividend Growth Of 7% [View article]
I agree with most of your comments and, following Deutsche Telekom's cut in dividend payments, see http://seekingalpha.co... I have officially crowned Vodafone Europe's only Telco dividend champion.
In line with its peers, its share price now just needs to come down further, preferably to historically undervalued levels, according to our investment methodology, in order for our Dividend Income Portfolio to turn into a buyer of VOD shares.
Verizon Is Now The Best Way To Get Exposure To Verizon Wireless [View article]
VOD versus VZ: the Vodafone view
Expect Vodafone’s dividend to increase for some time.
In earlier articles about Vodafone, published here last week and in October, I elaborated on the changing character of Vodafone’s dividends going forward. Last week's Vodafone results do not alter my views on this.
Recap . . .
Vodafone announced a 7.2 per cent increase in interim dividends and plans for a £1.5bn share buyback. The 3.27 pence dividend is costing the group some £3.2bn drawn from underlining earnings which were down 3 per cent at £6.6bn – representing a pay-out ratio of 48.5% (comfortable dividend cover of 2).
While the £1.5bn share buyback is been financed by the £2.4bn dividend payment from Wireless Verzon, once received before the year end, where the remaining £0.9bn goes remains a mystery to me – perhaps still a surprise ‘special dividend in 2013?
As a 45 percent minority shareholder Vodafone has no control about if and when Verizon Wireless pays dividends – some may say Vodafone is now becoming over-dependent on Verizon Wireless results – but lets keep some perspective here. The businesses that Vodafone do control still generate more than enough to meet increases in its core dividend for some time to come.
With net debts at 1.8 times underlying earnings Vodafone can comfortable continue with its 7 percent increases in its dividends for several years, with the group receiving an occasional special dividend from Verizon Wireless which it (partially or in whole) may ‘transfer’ to its shareholders in the form of more share cashbacks or indeed as hard cash returned to all shareholders in the form of an ‘extra’ dividend.
Question: can you elaborate why you think Vodafone would want to sell down its shareholding in VzW?
Vodafone Results Below Par But Dividend Increase Maintained [View article]
Hi Russell
Good point. Perhaps being a bit too cryptic here. Last year Vodafone stated that its dividends would rise 7% 2012/2013. That's what is exactly happening, so from that perspective they have maintained their dividend . . .hmmm . . . stated dividend policy, and therefore (luckily!) no surprises. Sorry for the potential confusion, probably talking 'double-Dutch here, being a Dutchman
How BP's Dividend Stacks Up Against Shell's [View article]
Hi Vorgriff
Unfortunately, I am not an international tax planner, etc. May I suggest, you just click on the link re Taxback in my instablog article and persue it further with them. They are welcoming in answering this type of questions in order to assist you in your current/future share purchases/dividend reclamation process.
National Grid's Disappointing New Dividend Policy [View article]
Based on our proprietary valuation methodology shares National Grid Plc are currently neither historically undervalued nor overvalued - they are trading somewhere 'in-between'.
Vodafone: A 5.8% Yield That Is Safe And Growing [View article]
Vodafone has paid out a special dividend to shareholders, with the first Verizon Wireless dividend, in early 2012, although, as I reported here http://seekingalpha.co... in November the company reported that it would be putting part of the cash received from Verizon Wireless' latest dividend payment towards a £1.5bn share buyback programme. This will obviously reduce the number of shares in issue somewhat and mean Vodafone could pay higher dividends in the future.
With the interim dividend due to be paid into our Dividend Income Portfolio account on 3 February, I remain both a happy Vodafone customer and investor.
GlaxoSmithKline has announced that it intends to increase its shareholdings in its Indian and Nigerian consumer healthcare divisions, as part of its long-term strategy to expand into emerging markets, as these are growing at a faster rate than its branded pharmaceuticals in both countries.
In comparison, last month, GSK announced a review of its European operations as sales fell 5 percent in the third quarter, to £6.53bn. Blaming lower demand for vaccines and, in particular, Europe’s spending cuts in health care budgets, GSK released third quarter sales down 8 percent to £6.5bn, while net profits fell 18.5 percent from a year earlier to £1.12bn. Click here http://seekingalpha.co... for an extensive review on GSK results and dividend prospects.
With Dividends Unexpectedly Up, Has BP Turned The Corner? [View article]
That's very kind of you ineficientmkts; why not have a look at some of my other articles, if relevant, or indeed, if you are interested in the concept of investing in dividend paying companies when they are historically undervalued, at our site: Dividend Income Investor.com
With Dividends Unexpectedly Up, Has BP Turned The Corner? [View article]
Addendum
Rosneft beat analysts' expectations on Thursday by reporting a more than doubling of quarterly profits to $5.8bn in advance of its acquisition of Anglo-Russian rival TNK-BP.
Rosneft will be responsible for more than 40 percent of Russia's production and approx one-twentieth of the world's oil output by the time it take command of both the British and Russian stakes of the country's third-largest oil firm. Completion of the transaction is expected in the first half of next year.
Vodafone Group: Cash Flow Still King [View article]
Vodafone to exit Verizon Wireless?
As per Robin Bienenstock comments "With Verizon trading at all-time high multiples; US investors appearing to suspend disbelief on the impending deterioration of the US wireless market; and an urgent need for major strategic change in Europe, there may never be a better time for Vodafone to relinquish its 45% of VZW"
Vodafone's Dividend Is Safe, With More To Come [View article]
Many thanks for all the comments thus far; may I want to add one myself for you to comment on . . .
Will Vodafone exit Verizon Wireless?
As per Robin Bienenstock comments "With Verizon trading at all-time high multiples; US investors appearing to suspend disbelief on the impending deterioration of the US wireless market; and an urgent need for major strategic change in Europe, there may never be a better time for Vodafone to relinquish its 45% of VZW"
Vodafone Results Below Par But Dividend Increase Maintained [View article]
I have emailed Seekingalpha.com with the request for them to amend the title to "Vodafone Results Below Par But Dividend Increase Maintained"
National Grid Issues Short-Term Dividend Policy To Mixed Analyst Reaction [View article]
Probably my english, being Dutch.
No, NGG has not cut their dividends for 2012/12, rather they have cut the increase in the dividend growth, but just for that financial year, until they announce the new dividend policy going forward for up to eight years.
Best
Steven
Buy Vodafone: Share Buybacks, Dividends From Verizon Wireless And Dividend Growth Of 7% [View article]
In line with its peers, its share price now just needs to come down further, preferably to historically undervalued levels, according to our investment methodology, in order for our Dividend Income Portfolio to turn into a buyer of VOD shares.
Verizon Is Now The Best Way To Get Exposure To Verizon Wireless [View article]
Expect Vodafone’s dividend to increase for some time.
In earlier articles about Vodafone, published here last week and in October, I elaborated on the changing character of Vodafone’s dividends going forward. Last week's Vodafone results do not alter my views on this.
Recap . . .
Vodafone announced a 7.2 per cent increase in interim dividends and plans for a £1.5bn share buyback. The 3.27 pence dividend is costing the group some £3.2bn drawn from underlining earnings which were down 3 per cent at £6.6bn – representing a pay-out ratio of 48.5% (comfortable dividend cover of 2).
While the £1.5bn share buyback is been financed by the £2.4bn dividend payment from Wireless Verzon, once received before the year end, where the remaining £0.9bn goes remains a mystery to me – perhaps still a surprise ‘special dividend in 2013?
As a 45 percent minority shareholder Vodafone has no control about if and when Verizon Wireless pays dividends – some may say Vodafone is now becoming over-dependent on Verizon Wireless results – but lets keep some perspective here. The businesses that Vodafone do control still generate more than enough to meet increases in its core dividend for some time to come.
With net debts at 1.8 times underlying earnings Vodafone can comfortable continue with its 7 percent increases in its dividends for several years, with the group receiving an occasional special dividend from Verizon Wireless which it (partially or in whole) may ‘transfer’ to its shareholders in the form of more share cashbacks or indeed as hard cash returned to all shareholders in the form of an ‘extra’ dividend.
Question: can you elaborate why you think Vodafone would want to sell down its shareholding in VzW?
Vodafone Results Below Par But Dividend Increase Maintained [View article]
Good point. Perhaps being a bit too cryptic here. Last year Vodafone stated that its dividends would rise 7% 2012/2013. That's what is exactly happening, so from that perspective they have maintained their dividend . . .hmmm . . . stated dividend policy, and therefore (luckily!) no surprises. Sorry for the potential confusion, probably talking 'double-Dutch here, being a Dutchman
How BP's Dividend Stacks Up Against Shell's [View article]
Unfortunately, I am not an international tax planner, etc. May I suggest, you just click on the link re Taxback in my instablog article and persue it further with them. They are welcoming in answering this type of questions in order to assist you in your current/future share purchases/dividend reclamation process.
Cheers
Steven
National Grid's Disappointing New Dividend Policy [View article]
Deutsche Telekom To Cut Dividend By Almost A Third [View article]
Check out Deutsche Telekom website, in particular: http://bit.ly/13Vo4b1 under shareholder remuneration:
"Subject to necessary board approval and AGM resolution and based upon 2013 guidance a dividend per share of 0.50 € is intended"
Vodafone: A 5.8% Yield That Is Safe And Growing [View article]
With the interim dividend due to be paid into our Dividend Income Portfolio account on 3 February, I remain both a happy Vodafone customer and investor.
Buy GlaxoSmithKline For 5.3% Dividend Yield, 10% Price Appreciation [View article]
In comparison, last month, GSK announced a review of its European operations as sales fell 5 percent in the third quarter, to £6.53bn. Blaming lower demand for vaccines and, in particular, Europe’s spending cuts in health care budgets, GSK released third quarter sales down 8 percent to £6.5bn, while net profits fell 18.5 percent from a year earlier to £1.12bn. Click here http://seekingalpha.co... for an extensive review on GSK results and dividend prospects.
Vodafone Results Below Par But Dividend Increase Maintained [View article]
With Dividends Unexpectedly Up, Has BP Turned The Corner? [View article]
With Dividends Unexpectedly Up, Has BP Turned The Corner? [View article]
Rosneft beat analysts' expectations on Thursday by reporting a more than doubling of quarterly profits to $5.8bn in advance of its acquisition of Anglo-Russian rival TNK-BP.
Rosneft will be responsible for more than 40 percent of Russia's production and approx one-twentieth of the world's oil output by the time it take command of both the British and Russian stakes of the country's third-largest oil firm. Completion of the transaction is expected in the first half of next year.
Vodafone Group: Cash Flow Still King [View article]
As per Robin Bienenstock comments "With Verizon trading at all-time high multiples; US investors appearing to suspend disbelief on the impending deterioration of the US wireless market; and an urgent need for major strategic change in Europe, there may never be a better time for Vodafone to relinquish its 45% of VZW"
I await your comments at http://seekingalpha.co...
Vodafone's Dividend Is Safe, With More To Come [View article]
Will Vodafone exit Verizon Wireless?
As per Robin Bienenstock comments "With Verizon trading at all-time high multiples; US investors appearing to suspend disbelief on the impending deterioration of the US wireless market; and an urgent need for major strategic change in Europe, there may never be a better time for Vodafone to relinquish its 45% of VZW"
I await your comments
Thanks
Steven