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
24/10/2019	Interim	GBX	5	01/03/2019	29/02/2020	31/10/2019	01/11/2019	13/12/2019	5
20/05/2019	Final	GBX	10	28/02/2018	28/02/2019	20/06/2019	21/06/2019	26/07/2019	15
25/10/2018	Interim	GBX	5	03/03/2018	31/08/2018	01/11/2018	02/11/2018	14/12/2018	0
15/05/2018	Final	GBX	10	28/02/2017	28/02/2018	21/06/2018	22/06/2018	27/07/2018	15
23/10/2017	Interim	GBX	5	03/03/2017	31/08/2017	02/11/2017	03/11/2017	15/12/2017	0
10/05/2017	Final	GBX	5	28/02/2016	28/02/2017	29/06/2017	30/06/2017	28/07/2017	14
25/10/2016	Interim	GBX	9	02/03/2016	31/08/2016	17/11/2016	18/11/2016	16/12/2016	0
16/05/2016	Final	GBX	17	01/03/2015	29/02/2016	30/06/2016	01/07/2016	29/07/2016	26
28/10/2015	Interim	GBX	9	03/03/2015	31/08/2015	19/11/2015	20/11/2015	18/12/2015	0
19/05/2015	Final	GBX	17	28/02/2014	28/02/2015	02/07/2015	03/07/2015	31/07/2015	26
29/10/2014	Interim	GBX	9	03/03/2014	31/08/2014	13/11/2014	14/11/2014	12/12/2014	0
20/05/2014	Final	GBX	17	28/02/2013	28/02/2014	16/07/2014	18/07/2014	15/08/2014	26
29/10/2013	Interim	GBX	9	03/03/2013	31/08/2013	13/11/2013	15/11/2013	13/12/2013	0
14/05/2013	Final	GBX	17	28/02/2012	28/02/2013	28/06/2013	24/07/2013	14/12/2012	26
30/10/2012	Interim	GBX	9	02/03/2012	31/08/2012	14/11/2012	16/11/2012	14/12/2012	0
08/05/2012	Final	GBX	17	01/03/2011	29/02/2012	20/06/2012	22/06/2012	25/07/2012	26
25/10/2011	Interim	GBX	9	01/03/2011	29/02/2012	23/11/2011	25/11/2011	14/12/2011	0
09/05/2011	Final	GBX	17	28/02/2010	28/02/2011	29/06/2011	01/07/2011	27/07/2011	26
26/10/2010	Interim	GBX	9	28/02/2010	28/02/2011	17/11/2010	19/11/2010	14/12/2010	0
10/05/2010	Final	GBX	16.25	28/02/2009	28/02/2010	30/06/2010	02/07/2010	28/07/2010	25
27/10/2009	Interim	GBX	8.75	03/03/2009	31/08/2009	04/11/2009	06/11/2009	11/12/2009	0
12/05/2009	Final	GBX	15.5	28/02/2008	28/02/2009	01/07/2009	03/07/2009	28/07/2009	24
28/10/2008	Interim	GBX	8.5	02/03/2008	31/08/2008	12/11/2008	14/11/2008	11/12/2008	0
07/05/2008	Final	GBX	15	28/02/2007	28/02/2008	25/06/2008	27/06/2008	25/07/2008	23
23/10/2007	Interim	GBX	8	03/03/2007	31/08/2007	07/11/2007	09/11/2007	11/12/2007	0
11/05/2007	Final	GBX	12.25	28/02/2006	28/02/2007	04/07/2007	06/07/2007	31/07/2007	19
26/10/2006	Interim	GBX	6.75	03/03/2006	31/08/2006	15/11/2006	17/11/2006	13/12/2006	0
04/05/2006	Final	GBX	11.5	28/02/2005	28/02/2006	28/06/2006	30/06/2006	27/07/2006	18
25/10/2005	Interim	GBX	6.5	03/03/2005	31/08/2005	16/11/2005	18/11/2005	13/12/2005	0
17/05/2005	Final	GBX	10	28/02/2004	28/02/2005	29/06/2005	01/07/2005	28/07/2005	16
22/11/2004	Interim	GBX	6	02/03/2004	31/08/2004	01/12/2004	03/12/2004	23/12/2004	0
05/05/2004	Final	GBX	8	28/02/2003	28/02/2004	30/06/2004	02/07/2004	30/07/2004	13
21/11/2003	Interim	GBX	5	03/03/2003	31/08/2003	03/12/2003	05/12/2003	23/12/2003	0
07/05/2003	Final	GBX	7	28/02/2002	28/02/2003	02/07/2003	04/07/2003	31/07/2003	12
25/11/2002	Interim	GBX	5	03/03/2002	31/08/2002	04/12/2002	06/12/2002	20/12/2002	0
31/05/2002	Final	GBX	7	28/02/2001	28/02/2002	03/07/2002	05/07/2002	31/07/2002	12
20/09/2001	Interim	GBX	5	30/12/2000	30/06/2001	17/10/2001	19/10/2001	15/11/2001	0
07/03/2001	Final	GBX	10	31/12/1999	31/12/2000	02/05/2001	04/05/2001	31/05/2001	15
28/09/2000	Interim	GBX	5	30/12/1999	30/06/2000	09/10/2000	13/10/2000	10/11/2000	0
13/04/2000	Final	GBX	10	31/12/1998	31/12/1999	25/04/2000	02/05/2000	23/06/2000	15
07/10/1999	Interim	GBX	5	30/12/1998	30/06/1999	18/10/1999	22/10/1999	19/11/1999	0
15/04/1999	Final	GBX	10	31/12/1997	31/12/1998	26/04/1999	30/04/1999	28/05/1999	15
15/10/1998	Interim	GBX	5	30/12/1997	30/06/1998	26/10/1998	30/10/1998	20/11/1998	0
16/04/1998	Final	GBX	3	31/12/1996	31/12/1997	27/04/1998	01/05/1998	29/05/1998	3

Top Dividend Posts

Date	Subject
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 Read Full Thread Follow Reply
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... Read Full Thread Follow Reply
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/ Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply
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 Read Full Thread Follow Reply

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