Ashtead Dividends - AHT

Ashtead Dividends - AHT

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Ashtead Group Plc AHT London Ordinary Share GB0000536739 ORD 10P
  Price Change Price Change % Stock Price Low Price High Price Open Price Close Price Last Trade
-78.00 -3.16% 2,389.00 2,343.00 2,415.00 2,365.00 2,467.00 16:29:59
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Industry Sector

Ashtead AHT Dividends History

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

Top Dividend Posts

fenners66: yes perfido I did the increase using 2019 figures not the 2018. We acknowledge the share price has gone up and over the very long run if the funds are invested wisely in the business then you will see that. However we are not through one cycle yet so the 5 year period may yet prove to be a period of share price effervescence. As for selling to fund income - there is an argument to sell to crystallise a CGT allowance - but if we expect medium share price growth why sell. As the question said "What's not to like?" My answer stands - the interim dividend is not high enough....
perfido: On a fair like for like basis the EPS figure for 2018 was 127.5p, not 195.30p. This latter figure as I am sure you know has been inflated by an exceptional tax credit from the remeasurement of the Group’s US deferred tax liabilities at the newly-enacted US federal tax rate of 21% rather than the historical rate of 35%, i.e. a 'one off'. As far as the rate of dividend is concerned, it is the company's stated progressive dividend policy to set payments with consideration to both profitability and cash generation at a level that is sustainable across the cycle, something I am quite comfortable with. This is in accordance with the company's overall Capital Allocation Plan, which I am sure you are familiar with. If you are short of income, have you considered selling down your holding to realise some of the considerable share price gains? .
smcni1968: I have a copy of the Barclays report- basically they think the company can grow Sunbelt over the next 10 years to 2x current size by continuing their current strategy, of they do that you can justify their share price target on a DCF basis so the 3150 or whatever is unfortunately a bit theoretical. happy to forward on Monday if you message me an email address.
perfido: Sterling has now appreciated against the dollar to US $1.341 currently, so this may be bearing down on AHTs share price at present?
perfido: Fenners 2.5x more money to ex-holders etc ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Perhaps you could explain your logic? The average buyback price per share paid to date is substantially below the current market price, it would seem that sellers are the losers. Holders of course will gain from an increasing level of dividends, on fewer shares, sustainable across the cycle, and in due course share price appreciation, ie. we own more of the company (<> +10% at present). Leaving aside your aversion to debt, what's the problem, or did you buy AHT thinking it was an income share? .
bracke: From post 57419 "It's also worth noting that the Daily chart shows that the share price remains in the rising trend range." ==================================================================================== The share price pierced the lower trend line to-day but has moved back up to rest on it. It's held above this line for nine months so a close below it would be concerning. The rising £/$ doesn't help so best hope for a Labour victory.
2flatpack: Afternoon bracke I fear this apoplectic holder you describer is long dead. Anyone holding AHT long term is made of sterner stuff. With a share price that oscillates in a wide band (35%) for no apparent reason .They need to be able hang loose . So far in my investing memory it has always rewarded the holders eeer eventually. I still live in hope. Cheers
fenners66: I have held the shares a lot longer than they have been doing buybacks.... As far as deliberately missing the point that a majority vote at a shareholders meeting does not mean it is correct well you can ignore that if you want - you only see what you want to see. Since you know little of DEBS - many commentators were preaching to the unconverted and being ignored that they were paying too much in dividends - years before it went bust and left shareholders with nothing. The fact that the majority passed the resolution - including of course the "expert" institutions - did not make them correct. They were most certainly wrong as were the directors for recommending it. So majority may have thought their dividends issues were done and dusted - but it was instead the company. People make money in the stock market Because they challenge the received wisdom. When a company's actions are no longer challenged it usually ends in tears. Were all the unchallenged directors bonus schemes in house building correct ? NO There are many examples of minority voices which should have been listened to. Before you start with if you don't agree with it sell - a binary and crass statement - AHT gets most things right as the share price has shown. But a 20% increase in dividend base for a company with growing profits and dividends and lower debt may well have delivered a higher share price as well.
fenners66: Could be; but for those of us whom have been shareholders long enough we are well aware of times past when high debt levels led to smashed share prices. Now share price trading at heady levels and debt increasing again - not a surprise that some holders don't like it. I expect at least a 15% dividend increase on the back of better results and the diminished number of shares. However the interest charge above for the higher debt level in the first qtr alone was : £54m-31m-10m = £13m We can therefore forecast at least 4x£13m for the year (and with increasing debt compared to the comparison as it has already been rising, and continued rises with buybacks, we can expect even higher). So that is £52m Ok you may argue there is a tax charge on that 25% so that would still leave a net £39m available for dividends _ and that is the last 12 months debt increase. What would that do for dividends per share ? 39/477 = 8p/share Which is an increase of 8/40 = 20% on current Whereas the "buyback" has reduced the shares in issue by about (not looked this up) 23/500 = 4.6% !! You know which I would rather have !!
ianwwwhite: Fenners, Still doesn't make the case for me. There are a number of factors missing from your calculation, for example the savings of dividend payments on shares in Treasury or subsequently cancelled, this benefit will continue to accrue indefinitely. There is also the question of impact on the share price, and bearing in mind that I managed to sell two tranches of AHT at a price in excess of £23 in July, the buyback certainly doesn't seem to be hurting the shareprice, although other contextual factors might. Bracke sold his mater's holding for only 21.86, you have to question his judgement... As for Standard Life Aberdeen, it's not a company that I follow, but generally I would suggest you would be better off taking advice from a successful investor, rather than a few disheartened people who apparently have had a difficult time in SLA, where there seems to be more pressing problems than the buyback. To quote an excerpt from Warren Buffett: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Buffett generally prefers buybacks to other methods of returning capital to shareholders, especially dividends. While Buffett likes to receive dividends from the stocks he owns, when it comes to Berkshire, he considers buybacks to be a far better solution. Simply put, when management is authorized to buy back shares, they can choose when and if they want to buy shares and can deploy the capital only when it is in the best interest of shareholders. On the other hand, when a company implements a quarterly dividend, it is generally committing to making the payments, even if, during a particular quarter, there could be a more efficient way to use the money. (IWW: and we all know what happens when a company cuts its dividend!) One of Buffett's favorite things about stock buybacks is that they automatically increase his percentage ownership in a business without investing any more money. Buffett often remarks that he doesn't really care when his long-term investments decline in value as long as the underlying business fundamentals remain strong. From a buyback standpoint, he actually likes when prices fall. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I am sure that if you trawl the internet you will find contrary views, but that of Buffet is good enough for me, and as a committed holder of a residual holding in AHT, I accept that the buyback decision is not within my influence, or indeed yours.. Isn't it time you moved on? .
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