Berkeley Share Discussion Threads

[jrphoenixw2] 23/2/2017 15:59

Indeed, 'and lo it came to pass': ---------------------------------- The Directors of the Company are pleased to announce that an interim dividend of 85.24p per share will be paid on 24 March 2017 to shareholders on the Company's register of members at close of business on 3 March 2017. The ex-dividend date is 2 March 2017. The dividend has been calculated on the following basis under the Company's Shareholder Return Programme and as announced on 2 December 2016 in the interim results announcement for the six months ended 31 October 2016. Aggregate value of shareholder GBP138,845,478 return ------------------------------------ ---------------- Shareholder return satisfied (GBP21,124,128) through share buy-backs ------------------------------------ ---------------- Shareholder return to be satisfied GBP117,721,350 as dividends ------------------------------------ ---------------- Number of shares eligible for dividend* 138,098,111 ------------------------------------ ---------------- Dividend per share 85.24 pence

[eithin] 23/2/2017 15:33

85.24p pd 24th. March ex 2nd. March

[jrphoenixw2] 23/2/2017 14:57

Interim Results dd 2-Dec-16 page 3, Chairman's Statement: 'In these proposals announced today, the Board confirms that the next £1 per share, equating to £138.8 million, will be returned by 31 March 2017 with the amount of this to be paid as a dividend to be announced in February, taking account of the cost of any share buy-backs made in the intervening period.' page 5, Chief Exec Statement, then discusses how this policy will impact BKGs long-term compensation schemes, and that these will be addressed at ... presumably this EGM? It adds: 'In February and August each year, the Company will announce the dividend to be paid at the end of March and September, respectively. This will be calculated as the absolute value amount to be delivered in the six months (£138.8 million based on the current shares in issue), less the cost of any share buy-backs undertaken in the relevant period. Going forward each subsequent relevant period begins on the date of announcement of the dividend for the previous relevant period.' -------------- So the next £1 net of buybacks, will be announced in Feb, ie by Tuesday. But it's not on the agenda for their EGM, and there is no other reference on the site that I can find. Maybe they'll just issue an RNS... ?

[jrphoenixw2] 23/2/2017 14:18

'A cynic observes': Even the FT don't know what the div policy is these days...

[garycook] 23/2/2017 14:17

Results are yet to be announced.Just looked on the FTSE Results calender for March and nothing for BKG.Monday 27 Feb is PSN,and Tue 28 Feb is TW.

[jrphoenixw2] 23/2/2017 12:47

Per my ^2653 I'm currently expecting results around 20 March. But we'll see...

[raffles the gentleman thug] 23/2/2017 11:41

I guess they should announce the dividend dates shortly thereafter then ...

[eithin] 23/2/2017 08:45

The EGM will be held on 23 February 2017 at 2.00pm at The Woodlands Park Hotel, Woodlands Lane, Stoke D'Abernon, Cobham, Surrey KT11

[jrphoenixw2] 23/2/2017 07:51

You are correct GC, I see an RNS re an EGM today: 'The EGM will be held on 23 February 2017 at 2.00pm' - http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BKG/13104114.html 'In accordance with Listing Rule 9.6.1, a copy of the Documents has been uploaded to the National Storage Mechanism and will shortly be available for inspection at hxxp://www.morningstar.co.uk/uk/NSM. The Notice of EGM is also available on the Company's website at www.berkeleygroup.co.uk/investor-information/corporate-governance ' hxxp://tools.morningstar.co.uk/tsweu6nqxu/globaldocuments/document/rnsNewsItem.aspx?DocumentId=384822627474931 The Notice is on the BKG site it seems, but under the Corporate Governance section: hxxps://www.berkeleygroup.co.uk/media/pdf/i/d/Berkeley_NoM_FINAL_for_website_and_NSM.pdf Skimming this doc, it looks like one I previously saw that I referred to as concerning directors remuneration and a directors purchase of a BKG property - ie, if it's simply that I don't regard it as a big deal...

[luckymouse] 23/2/2017 04:11

LT macro view - these fibs are really hard to place - but I suspect what happens next isn't good - shame as I consider BKG to be a UK economic barometer

[garycook] 23/2/2017 02:14

By the Company Information on Hargreaves Lansdown website.There is an EGM today Feb 23.From the BKG website it only states a Trading update for March 2017.

[jrphoenixw2] 22/2/2017 15:40

Having trawled back through posts to last Dec I see your point. Strange their website gives no pointers, curious as amending their div policy was disruptive enough you'd have though they'd take care to be very clear on the future path.

[jrphoenixw2] 22/2/2017 13:53

Just for the record per their site, current annual calendar: 'Publication of 2016 Annual Report 3 August 2016 Annual General Meeting and Trading Update 6 September 2016 Int Dividend Payment Date 15 September 2016 Half Year End 31 October 2016 Int Results for the six months ending 31 October 2016 2 December 2016 Trading Update March 2017 Year End 30 April 2016 Preliminary Announcement of Results for the year ending 30 April 2017 June 2017 Publication of 2017 Annual Report August 2017

[jrphoenixw2] 22/2/2017 13:49

@GC I think the schedule was rejigged, parallel with the buy-back scheme. According to my notes... Results circa 20 March XD circa 3 April PD = circa XD+4 weeks [But please take on board, that's just my estimates, hence E+EO]

[garycook] 22/2/2017 13:19

Dividend annoucement should be due soon,for the end of March payment ?

[raffles the gentleman thug] 22/2/2017 12:48

Tweak to stamp duty and these shares could fly on March 8th

[r ball] 21/2/2017 07:13

Read across from gfrd?

[fozzyb] 20/2/2017 18:23

Politically hard to repeal stamp duty bands as seen as favours to the rich.Also unlikely to amend the crazy IMV BTL rules as effect not yet felt. They need to get brexit under way, and call general election whilst Corbyn on the ropes and still in play before a credible opposition is formed i.e. The other miliband and chukkah

[1gw] 20/2/2017 15:08

That's me in for another chunk at 28.72, a month after my first purchase. Hoping the weakness today is due in part to Bovis results, which may be counteracted by Galliford Try's interims tomorrow, Barratt on Wednesday and Persimmon & TW finals next week. Feels like once again we may be heading for "lower for longer" on interest rates and on the BKG price we're again getting to "Pidgley Put" territory - the price at which I would expect BKG to be buying back shares in the market.

[rhomboid] 20/2/2017 12:43

BVS was all self inflicted, macro comments from them were all positive

[r ball] 20/2/2017 12:26

Bvs read across.

[raffles the gentleman thug] 20/2/2017 09:35

Other thing one has to consider shortly is whether we see tweaks to stamp duty in Hammond's first budget on 8th March - if so these shares will fly as will give immediate boost to London and SE

[raffles the gentleman thug] 19/2/2017 08:51

FT - Prime London housing market showing signs of life Number of homes under offer in Chelsea and Belgravia at highest since Brexit vote

[raffles the gentleman thug] 16/2/2017 20:33

Well I think they could get promoted comfortably before March if they wanted - since the five year dividend programme was originally based on three years of earnings, and the last guidance extended their earnings visibility to five years. So quite a positive uplift to the dividend programme is likely to come at some point. But it's more whether paying out so much cash over the coming years they could sustain promotion over the longer term