Anglo Pacific Dividends - APF

Anglo Pacific Dividends - APF

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Stock Name Stock Symbol Market Stock Type
Anglo Pacific Group Plc APF London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-3.40 -2.19% 151.80 16:35:11
Open Price Low Price High Price Close Price Previous Close
160.00 150.60 160.00 151.80 155.20
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Anglo Pacific APF Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

Top Posts
Posted at 28/9/2022 15:16 by laurence llewelyn binliner
#GrahamBurn, it is a little unorthodox to report in USD and payout a dividend in an equivalent GBP, shareholders are not directly benefitting no, but indirectly, the cost to the company for the payout is approx 25% less to buy the GBP to payout, increasing retained earnings to smash the debt down..I prefer Dollar dividends and a quoted FX fix for them, but that said some recent dividends received came in at spot and well above the quoted FX fix given for the dividend, gratefully received too, I can only assume the broker elected to receive USD instead and were left to do the conversion at spot on the day.. :o)
Posted at 23/9/2022 17:50 by laurence llewelyn binliner
#1Knocker, interesting views, much aligned with my own, a shocking week caused by FED/MPC rate moves, the unthinkable GBP:USD parity comes into view and into the 1.08 zone already.. A defensive PF is/has been pretty insulating so far mopping up dividends, but should a general fire sale occur cash is king of course, exiting positions and moving to cash is a bold move given the dividend sacrifice and in the face of 10% inflation, but if the sale comes it is the seat you want to be sat in for sure.. Alternatively, sit tight, ride it out and hoard dividends to be used in the sales..? RS companies will see us right over time, interesting times indeed.. :o)
Posted at 01/9/2022 19:47 by the deacon
I don't think the portfolios compliment one another at this stage. Tridents revenue predominantly generated from gold offtake agreements. I can't see Marc being particularly keen on that. APF's revenue still (for the time being) dominated by a coal asset - and TRR have stated many times they won't do coal (irrespective of it being met coal). TRR have placed a couple of risky bets (risky in the sense that they've issued guidance based upon them coming in) in the shape of Thacker Pass and Sonora. If either come off then TRR is sitting very pretty from a lithium point of view. I'm less confident about Sonora, but I do expect Thacker Pass to get the green light (though I think the timeframe given by LAC and TRR is ambitious and expect that to slip). Ultimately APF is focusing on battery metals and premium metal assets. TRR's focus is a broad reflection of the mining sector by commodity mix. Neither fit the others brief. A better fit for APF would be Altius Minerals. I've long wished for a merger there, but it hasn't come yet.
Posted at 20/6/2022 11:01 by laurence llewelyn binliner
mid-2017 140p | 7 pence dividend mid-2018 140p | 8 pence dividend mid-2019 200p | 9 pence dividend mid-2020 140p | 9 pence dividend mid-2021 140p | 7 pence dividend mid-2022 140p | 7 pence dividend 47 pence per share return on capital, residual cost of just 93 pence per share, plus a 1.32 multiple of shares held on dividends reinvested.. :o) Not IMO, just the facts, compound growth..
Posted at 08/6/2022 23:02 by the deacon
The only royalty co I can think of with a greater dividend yield is Sailfish. Think they're yielding around 5%, but they're sitting waiting for M&A options, so cash is spent on share buybacks and the dividend. APF are next by a good margin.
Posted at 05/5/2022 12:37 by the deacon
Having now caught up with the most recent presentation it's clear to me that MBL has committed to growing APF into the go-to diversified /battery metals royalty Co, and this growth will come partly at the expense of a bumper dividend. We've talked about it here before (and Marc said the same thing in the presentation) but APF pay the highest yield of any mining royalty company. Indeed it's more than 2x it's second placed peer, and this is the benchmark he's using for APF. The cash 'saved' from paying a smaller dividend (though still substantial relatively speaking) rather than 5%+ will end up funding further deals that are critical to growing Anglo Pacific. It isn't going to be small deals that result in APF becoming a multi billion dollar diversified version of Franco Nevada. The path to scale requires APF to get involved in big deals like Voiseys Bay. Of course, opportunities to play the long game on quality assets like Piaui are very much worth pursuing, but it's quite clear to me that with Kestrel dropping to 50% or so in 23/24/25 before it drifts away, MBL wants significant assets that are generating cash right now - and they cost a lot more. My takeaway was that APF will no longer be (certainly not for the foreseeable future anyway) that income focused stock that punters have got used to. MLB has set his sights on something a lot bigger, and if he gets it right then APF will be many multiples of where we sit today. Having been invested in many US/Canadian royalty companies, and having witnessed the stellar growth that's achievable I'm personally very supportive of that strategy. However I do appreciate that we all have different outlooks and reasons for investing, and understand this shift in strategy /focus doesn't suit all.
Posted at 04/5/2022 00:40 by woodhawk
My investment in APF in November 2020 was primarily due to the above-average, quarterly divi. I sold out last year after the dividend dates fiasco then, prior to the timetable being (awkwardly) rescheduled. When it was, I decided to buy back in and - luckily - it worked in my favour. Now, the dividend has been reduced to what I deem below-average. I did email APF with my concerns, but didn't even warrant a reply. APF has been good to me for the last 18 months and I've doubled my money but their lackadaisical attitude to dividends means that I'm moving on. Good luck to all holders.
Posted at 03/5/2022 22:52 by illiswilgig
A technical glitch on the IMC platform meant that I could only join for the end of the presentation and then the Q&A - though in my experience the Q&A is the best way to find the nuances as they respond to the questions asked. Far more interesting than reading through a set of slides. I thought the CEO presented well and had an open attitude. Handled questions well - given the limits of what he's allowed to say. He seemed to work well with the FD in answering investor questions. The points that I noted When asked about the level of dividend at the current share price - he responded that - Though it is not as high as it has been - royalty companies typically pay a lower yield than miners due to the lower risk profile and that APF has the highest dividend of its established peers, Most questions seemed to touch upon the use of the Kestrel Cashflow. Marc and Kevin both referred to current Kestrel cashflow as a windfall which won't repeat. As such it is best used to pay down the debt and allow investment in future projects. Most importantly to ensure that - should commodity prices suddenly normalise - that APF is not left with too much debt and too high a dividend - NB I thought that they put this point particularly well. Much though I'd like a couple of extra pence in dividend I really don't want to jeopardise the shareprice or forgo a decend rise to above 200p. A question was asked about the potential nationalisation of Chilean mines. Marc answered that most comentators seem to think that nationalisation is still less likely rather than more. He also reminded us that the Chilean mine is a small portion of the overall portfolio and why it's important that the great majority of the portfolio is in OECD countries with high ESG credentials. A question was asked about replacing the Kestrel income now that its winding down. Marc and Kevin answered that over its lifetime Kestrel has averaged between 30 - 50m annually. As the portfolio income in Q1 was 10m excluding kestrel - or 40m annually. They consider that the portfolio has already replaced Kestrel (though I notice they didn't address the dilution from the placing) but I take the point - going forwards the portfolio has already largely (if not totally) replaced Kestrel. So futher investments are about future growth rather than replacing Kestrel. To be fair, I can quibble on this but I think the point is well made. some final comments about the future were interesting. Marc was bullish about the future for transition metals including Cobalt in view of EV requirements. Copper royalties/streams are very hard and rarely on the market. If they are you have to close on the deal. He sees Nickel as structurally deficit with demand exceeding supply so price will remain very volatile. He is clearly looking forward to the Piaui BFS and sees the nickel demand as not only boosting prices but also making the mine development more secure (thats my reading not what he said). FWIW - I went in not too impressed and ready to be cynical but both Marc and Kevin impressed me with their knowledge, preparation and ability to handle difficult questions openly. I am sure that there is much more that I missed, hope this helps - the fault for any inaccuracies lies with me as its all from memory, cheers
Posted at 07/4/2022 19:00 by cocopah
Two of my favourite bugbears today on this board. Firstly I remain unimpressed that the dividend was not maintained and more importantly that the new CEO was very adamant that it will be 7p moving forwards … not even a hint that a special dividend might be paid or of a potential future progressive dividend policy. My 2022 ISA money is going elsewhere. I agree with LLB that there is little scope for new royalties or streams at decent value now (another reason for maintaining the dividend) and hope that the new CEO does not try and stamp his authority by jumping in on a deal somewhere. I also agree that getting rid of the debt is important but given the income we are generating this year (and probably the early part of next year) the 9p dividend is easily affordable (and there will be sufficient left for investing more in Incoa). The decision over the dividend will not attract more investors and therefore I see the share price (despite analysts forecasts) struggling to maintain its current momentum. Essentially we are a dividend play and yet seem to have moved away from this. As far as SWS are concerned I tackled them about their recent uninformed posts about APF … in fairness they engaged in a dialogue via DM on Twitter (and amended their comments about JT and why he might have sold) … however essentially they stood by their overall comments. I couldn’t be bothered taking the conversation further.
Posted at 02/4/2022 09:14 by fordtin
tim000 - I'll soon be in a similar situation to you. Although I'm reinvesting dividends at the moment, very soon I'll need an income from my investments. Dividends can never be guaranteed, but they do at least provide some ability to forecast future income. If I had to rely on sale of shares for income, I would've had to sell APF for less than £1 at the tale end of 2020, greatly diminishing future income potential. There is no way to tell whether another outbreak of covid, or escalation in Ukraine will send the markets back down again. If a company cuts the dividend, I can sell and move the funds to another company with a more stable dividend policy and dividend cover. As such, when APF confirmed the dividend was only 7p, I sold 40% of my shares. I do think all being well with the World, APF still has plenty of room for share price growth. So I intend to hang on to the rest for a bit longer before rotating them into higher yielding companies.
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