Braemar Shipping Services Dividends - BMS

Braemar Shipping Services Dividends - BMS

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Braemar Shipping Services Plc BMS London Ordinary Share GB0000600931 ORD 10P
  Price Change Price Change % Stock Price Last Trade
0.50 0.24% 212.50 15:22:33
Open Price Low Price High Price Close Price Previous Close
212.00 210.50 212.50 212.50 212.00
more quote information »
Industry Sector
INDUSTRIAL TRANSPORTATION

Braemar Shipping Services BMS Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
24/10/2019InterimGBX501/03/201929/02/202031/10/201901/11/201913/12/20195
20/05/2019FinalGBX1028/02/201828/02/201920/06/201921/06/201926/07/201915
25/10/2018InterimGBX503/03/201831/08/201801/11/201802/11/201814/12/20180
15/05/2018FinalGBX1028/02/201728/02/201821/06/201822/06/201827/07/201815
23/10/2017InterimGBX503/03/201731/08/201702/11/201703/11/201715/12/20170
10/05/2017FinalGBX528/02/201628/02/201729/06/201730/06/201728/07/201714
25/10/2016InterimGBX902/03/201631/08/201617/11/201618/11/201616/12/20160
16/05/2016FinalGBX1701/03/201529/02/201630/06/201601/07/201629/07/201626
28/10/2015InterimGBX903/03/201531/08/201519/11/201520/11/201518/12/20150
19/05/2015FinalGBX1728/02/201428/02/201502/07/201503/07/201531/07/201526
29/10/2014InterimGBX903/03/201431/08/201413/11/201414/11/201412/12/20140
20/05/2014FinalGBX1728/02/201328/02/201416/07/201418/07/201415/08/201426
29/10/2013InterimGBX903/03/201331/08/201313/11/201315/11/201313/12/20130
14/05/2013FinalGBX1728/02/201228/02/201328/06/201324/07/201314/12/201226
30/10/2012InterimGBX902/03/201231/08/201214/11/201216/11/201214/12/20120
08/05/2012FinalGBX1701/03/201129/02/201220/06/201222/06/201225/07/201226
25/10/2011InterimGBX901/03/201129/02/201223/11/201125/11/201114/12/20110
09/05/2011FinalGBX1728/02/201028/02/201129/06/201101/07/201127/07/201126
26/10/2010InterimGBX928/02/201028/02/201117/11/201019/11/201014/12/20100
10/05/2010FinalGBX16.2528/02/200928/02/201030/06/201002/07/201028/07/201025
27/10/2009InterimGBX8.7503/03/200931/08/200904/11/200906/11/200911/12/20090
12/05/2009FinalGBX15.528/02/200828/02/200901/07/200903/07/200928/07/200924
28/10/2008InterimGBX8.502/03/200831/08/200812/11/200814/11/200811/12/20080
07/05/2008FinalGBX1528/02/200728/02/200825/06/200827/06/200825/07/200823
23/10/2007InterimGBX803/03/200731/08/200707/11/200709/11/200711/12/20070
11/05/2007FinalGBX12.2528/02/200628/02/200704/07/200706/07/200731/07/200719
26/10/2006InterimGBX6.7503/03/200631/08/200615/11/200617/11/200613/12/20060
04/05/2006FinalGBX11.528/02/200528/02/200628/06/200630/06/200627/07/200618
25/10/2005InterimGBX6.503/03/200531/08/200516/11/200518/11/200513/12/20050
17/05/2005FinalGBX1028/02/200428/02/200529/06/200501/07/200528/07/200516
22/11/2004InterimGBX602/03/200431/08/200401/12/200403/12/200423/12/20040
05/05/2004FinalGBX828/02/200328/02/200430/06/200402/07/200430/07/200413
21/11/2003InterimGBX503/03/200331/08/200303/12/200305/12/200323/12/20030
07/05/2003FinalGBX728/02/200228/02/200302/07/200304/07/200331/07/200312
25/11/2002InterimGBX503/03/200231/08/200204/12/200206/12/200220/12/20020
31/05/2002FinalGBX728/02/200128/02/200203/07/200205/07/200231/07/200212
20/09/2001InterimGBX530/12/200030/06/200117/10/200119/10/200115/11/20010
07/03/2001FinalGBX1031/12/199931/12/200002/05/200104/05/200131/05/200115
28/09/2000InterimGBX530/12/199930/06/200009/10/200013/10/200010/11/20000
13/04/2000FinalGBX1031/12/199831/12/199925/04/200002/05/200023/06/200015
07/10/1999InterimGBX530/12/199830/06/199918/10/199922/10/199919/11/19990
15/04/1999FinalGBX1031/12/199731/12/199826/04/199930/04/199928/05/199915
15/10/1998InterimGBX530/12/199730/06/199826/10/199830/10/199820/11/19980
16/04/1998FinalGBX331/12/199631/12/199727/04/199801/05/199829/05/19983

Top Dividend Posts

DateSubject
09/3/2021
18:49
mayojames: Agree and seems market less upbeat about loss of Chairman and new strategy with 264 going to to current level and no divi to balance - let's see next few months
09/3/2021
08:38
edmundshaw: Wanting to improve the balance sheet: "EBITDA sustainably below 1.5 times on average over the seasonal working capital cycle. Net debt to EBITDA is expected to be [...] on average approximately 2.2 times during the 2020 / 2021 financial year." "The Board's renewed focus on growth opportunities means that it will continue to review the Group's ability to recommend a dividend as part of its determination of the optimum use of available profits/free cash flow. It will not be recommending a dividend until the balance sheet has been strengthened sufficiently to support the growth ambitions." Add these together and we get another year without dividends, and of course if they make further expenditure to support growth, and/or acquisitions, that could be extended. Given BMS's weak performance up to 2019 something has to be done, so a growth strategy is to be welcomed. Not sure why they want to deleverage though to this extent...
19/2/2021
09:44
tomps2: Braemar Shipping Service (BMS) on the Stockopedia / Piworld February 2021 StockSlam. John Sladden’s thoughts from 23:27. Video - Https://www.piworld.co.uk/2021/02/19/stockopedia-piworld-virtual-stockslam-february-2021-with-damian-cannon/ Podcast - Https://piworld.podbean.com/e/stockopediapiworld-virtual-stockslam-february-2021-with-damian-cannon/
16/2/2021
20:07
pireric: More interesting is what they might say on the Capital Markets Day. Perhaps some more medium-term ambitions could be set out. On freight rates, would caveat that BMS isn't particularly exposed to container shipping (was a question asked about this on their last conference call). The LNG tanker rates should have been a net positive but oil tankers will have been pretty slow activity-wise I suspect. However, given the good first half there is some potential for them to beat on 2020 earnings Eric
28/1/2021
07:45
pireric: Trade price was NOK 7.5, so BMS have banked £6.0m of proceeds. The AqualisBraemar Chairman took 720k of the 9.6m shares which I think is £450k so thats a good show of confidence. Means Braemar has realised probably around £6m of cash from this sale, and implicitly holds another £6m or so as remaining stake. That stake is locked up with AqualisBraemar for 90 days and then theoretically free to dispose of the rest if we so wish Eric
27/1/2021
20:14
thirty fifty twenty: i think that b/c AB will no longer have a 20% shareholder that it will give AB more liquidity. I can imagine institutions not being too keen on AB b/c of the large third party shareholding. So i think the benefits for BMS are 2 fold (1) it will highlight the hidden value in its balance sheet (2) it reduces debt considerable thus de-gearing and de-risking BMS (3) it will allow AB to attract a higher rating and thus benefit BMS for the remain 10m shares. As you say pireric - we will know a bit more shortly All IMHO, DYOR + BoL BMS is in my top5 hldgs
11/1/2021
19:44
pireric: For arguments sake.... what would accretion look like if CKN did buy BMS (completely theoretical, and as another poster has mentioned, perhaps not likely given area of focus etc). Ignores £16m AB stake etc. CKN 2019 underlying EBIT 50.5m Net cash earning pretty much zero interest return = £88.8m at last report Pretend they table a bid for BMS at 250p = £93.8m outlay Assume debt of £20m (February 2021 end forecast) New net debt position £25m Braemar 2020 underlying EBIT £9.6m on revenues of £121m Assume they can get 2% of revenues in cost synergies so £2.5m Pro forma underlying EBIT of £12.1m Accretion to EBIT 24% Cost of net debt at 2% = £0.5m Accretion to EPS approximately 23%. New leverage post deal of 0.4x to EBIT, closer to 0.25x levered on EBITDA At £3 for BMS, accretion to EPS would be >20%. New leverage post deal of 0.7x to EBIT, closer to 0.5x on EBITDA Goes to show how conducive it is to do M&A in this interest rate environment if you have a strong balance sheet and cash which is earning you close to nil return. Eric
07/1/2021
20:00
pireric: No problem. I think at the moment only a fraction of the warrants are expected to materialise, so I'd round to zero for calculation purposes. As you say, AqualisBraemar's stock has been on a strong run. There was a hint in a recent Finncap note that it could be a takeover target. To quote "... The deal increases AQUA's renewables footprint and reaffirms its commitment to energy transition. With this focus and pace of progress, we would not be surprised to see a bid in the future, potentially providing a significant source of funds for Braemar." Lock up on the shares expires in about 6 months. There is deferred consideration of £3.9m and £7m of contingent. I agree with your view. At the current rates that Naves has been operating at, I doubt anywhere near the full amount of contingent will be triggered. The trigger years are this year, next year, and the year after, and they require NAVES to deliver minimum €2m of EBIT to pay out, and €4.375m of EBIT in each year to pay out in full. Unless there is a significant turnaround in fortunes at Naves and a return to 2018/19 levels of profitability(which would help boost EPS anyway), I suspect much of that contingent consideration will fall out without payment. In any case, should be fully payable using cash flow so don't view it as a big detractor especially as it's spread out over 24 months. The multiple is definitely not right, once the market becomes comfortable with the balance sheet (which I don't think we're a million miles off from). Plenty of companies out there with weak balance sheets trading on extremely high multiples, so it's a psychological barrier more than anything (e.g. James Cropper CRPR, Zotefoams ZTF). Clarkson is the aspirational multiple that I doubt BMS will ever reach, but can't see why it can't recover at bare minimum to halfway. Otherwise, someone should just take BMS out. My view here is that the valuation on a PE basis is at least 50% undercooked Recent share option EPS targets would be nice if they can meet them! Eric
30/11/2020
15:13
thirty fifty twenty: the value of BMS's stake in AB has soared since AB announced results and more recently a acquisition. AB seems to have bedded in the acquisition last year very well and are very confident to achieve 3.5m of cost savings with the new merger. so it is no surprise that the AB share price has risen from c5.5NOK to closer to 10NOK. I think the price has risen not just because of the future profit growth, the merger savings but also size will give them critical mass and the mgt team have obviously spotted a niche in their markets. All of this is excellent news for BMS. their holding of c.19m AB shares and potentially 6m warrants means the quoted stake has a value of c.£20m GBP. of course the share price of AB can go down as well but for my analysis it allows me to net off almost all of BMS debt. which leaves CASH profits of c.12m to c.14m for a MV of 45m. That seems an attractive value investment risk/reward to me. All IMHO, DYOR + BoL BMS is in my top5 hldgs
03/11/2020
13:14
thirty fifty twenty: i was very encouraged by the Q3 results from AB the other day. their biz is growing and they confident of future progress and still benefitting from the merger. They are also very big into renewable growth. Most interesting they have 15m of CASH and are paying a divi (i think c.4m a year) so that is 1m into BMS bank account from the divi but also i think under pins the value of the holding (currently c.10m at market prices). To me this is a big comfort on BMS 20m of debt. but also it shows that activities connected to shipping are still doing ok despite any worries re global trade slowdown. the fall in BSM price is a slight worry but i remain hopeful in the CASH generating abilities of the business and new mgt team with hopefully a re-rating to follow in due course. All IMHO, DYOR + BoL BMS is in my top5 hldgs
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