Carillion Dividends - CLLN

Carillion Dividends - CLLN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Carillion Plc CLLN London Ordinary Share GB0007365546 ORD 50P
  Price Change Price Change % Stock Price Low Price High Price Open Price Close Price Last Trade
0.00 0.0% 14.20 0.00 0.00 0.00 14.20 00:00:00
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Industry Sector

Carillion CLLN Dividends History

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

Top Dividend Posts

hpcg: Sagheer 1: Spend some time educating yourself, read a few books, get an understanding of accounts, get an understanding of charts (some people are fundamentals only, some technical only, I couldn't do without both). Get to understand how the market works, why share prices moved the way they did on announcements. I'm afraid the message boards are your enemy here; there is no way to distinguish between the wheat and the chaff until you already know what you are doing. 2: Be prepared to later dedicate time to researching investments and continuous learning, honing of skills. 3: Don't expect to get rich quick. There is no easy way I'm afraid. If you want some actionable things to limit losses for now: 1: High dividends are a warning sign. 2: Low PEs are a warning sign. 3: A share price trending lower is a warning sign. 4: Cut your losses as soon as you reasonably can. The earlier you do the easier it is. 5: Everyone has losers. Everyone. Every single person without exception. Successful people take their loss and move on, unsuccessful people "wait to get their money back". 6: Monitor your performance. Until you get a reasonable success rate keep stakes in individual companies low, and your portfolio diverse. Stay in the game until you can reliably make money. 7: The investment industry will say you can't time the market (because they want your fees all the time). You have to be able to time the market, and each instrument within it. Nothing goes up for ever and one day this bull market will at least correct. Same with individual shares. It's difficult, and no one is perfect. You have to find your own style here.
hpcg: Insurance Insider published on Friday that trade credit insurers were no longer offering insurance to Carillion suppliers and subs. appears to be down as a write, but City A.M. has a derivative report httP:// Cash up front from now on; the working capital they had manufactured by getting paid on time by the government and then hanging out their suppliers for 4 months or more, evaporates. CLLN has been running something that is analogous to a Ponzi where they needed ever more projects so that government payments could cover up for the fact that project were often cash negative. This becomes a viscous cycle where they have to low bid to guarantee getting the volume. I'm pretty sure there is nothing illegal in doing this, but it is inevitable that the plates in the air will one day come crashing down. post script - insurance insider web site is back as I finish this httP:// I should imagine this (Euler Hermes et al refusing cover) is what triggered the share price collapse on Friday as it means CLLN will struggle to trade going forward.
cc2014: A company where they need to keep the juggernaut rolling as they need cash from the next contract to pay for the current one, as in the construction industry you tend to get paid in 14 days but pay out in 30, 60 or 120 in CLLN's case. Cashflow is easy if you're expanding, if you contract you have a problem. Then came their expansion into service contracts where there are large up front costs which leach cash at the beginning and then become cash cows at the end. CLLN took on too many of these and tried to finance it from the construction cashflow. They knew they were in at a loss but needed the cash. If you go and look at the most recent analyst presentation on their website you will see charts of typical cash flow for construction and service contracts. Somewhere there is an admission they were funding the service contracts from construction contracts but I don't have a link handy. Finally there's CLLN's reputation problem. Example where they can't get paid for the middle east job where we don't even know if they can collect the £200m or owe even more. So, they have to compete on price, which is a problem in an industry on tiny margins, especially where your interest bill is far higher than your competitors. Got to go now. Need to focus on some construction companies where the share price going up. NMD yesterday up around 15%. CTO on the move over the last few weeks and buyers out again today. I know it's great to catch a falling knife and multi-bag but there are lower risk trades out there which can still multi-bag. Go look at CTO and read the last 500 posts and then make a decision. NMD too Opportunities in other sectors too
cc2014: Well you and me might think it's worthless Tony but others clearly have a different opinion. Who is to say where the share price is going next but it don't look good to me. This is interesting. Even CLLN's bondholders are not the usual fare.
srpactive: f66 Good post, but I think fear has alot to do with it, if you hold a stock and then you see very well heeled and known shorters begin to short the hell out of a company, it is only going one way. So get out and watch so a double sell to the share price and compound. It is when it starts to reverse you see massive gains if the company sorts itself out via profits, management or another way. Clln very high risk, dyor.
cc2014: So, my view. This stock is now worth £72m and we are at the point where a significant proportion of the stock will have transferred from "institutions/funds" to PI's. With a market cap of £72m an analyst wouldn't spend much time on it. Except we have the debt and the bondholders. To renegotiate the debt, the bondholders are going to be demanding all sorts of information, all of which they will have before we do. So, they will know well before us where the share price goes next. Given the advantage they will always make money and screw the PI. Best to find another £72m stock where you can spend lots more time on it than an analyst and find a key piece of information to give an edge. All in all I think this is worth zero as I don't see CLLN trading their way out of this and I don't think they can raise cash fast enough without selling the parts with good profit streams, which leaves them less able to pay future interest payments. They have several problems beyond just the financing - terrible reputation in the industry for not paying their subcontractors, too many jobs not getting completed on time. Leads to lack of confidence. Customers will be wary and competitors won't be willing to partner them on the very big projects. It may be worth a punt but not yet. I'd want to see what the auditors are going to say about their year end accounts and specifically valuation on work in progress. Price wavering today. A massive 1m buy order left from last night at 16.8 holding the price up.
cc2014: I am of the view that technical analysis holds no value in situations such as the share price movements come from newsflow which cannot be predicted by TA. For example you may be overbought or oversold and it may be giving you a signal but then suddenly you get a piece of news and it moves fast. I'm afraid things don't look good to me and continue to worsen. Today's news is that investors are anxious enough about CLLN's finances they don't want to work with them at the scale they used to, the problem being of course that if the company shrinks in size as a percentage it's even more difficult to service the debt and pension liabilities. See here
kingston78: I have seen many corporate failures over many years and it is my belief that CLLN will join the list unfortunately. Debts far outweigh assets. Whatever value that you perceive that the company has is insufficient to pay off the liabilities. It does not matter in what form the restructuring will take place, so long as the lenders refuse to throw good money after bad, there is no hope of the company surviving. In other words, the share price will be reduced to ZERO. Buyers will buy some parts of the business, but the proceeds will go towards preferential and secured creditors, not the ordinary shareholders. Looking at the share chart, the recent feeble attempt to push up higher has failed. People have commented on low readings of RSI etc and there was some hope that as they rose the share price would follow suit. The technical indicators have been moving up positively, but the share price has moved up marginally. It has not been high enough even for day traders to make a decent profit whilst the trades carried high risks. Today's initial rise has turned into a loss at the close is a very bad sign technically. I am convinced that the share price will halve from the current level to 7 or 8 p when the graph hits the bottom of the bollinger band before halving again to 4 p. This is my prediction based on my observation of share price movement in this type of situation.
hpcg: IMO this is a good case study for how long term big short positions are the most astute money. There are too many long only market participants who don't understand the balance sheet and are blinded by dividend yield and PE ratio. If they weren't than CLLN would have been pressured by share price declines to fix itself as it was going wrong, instead it had years of runway to make itself into an unfixable basket case. I'm not sure I'd want to be a debt holder either. I bet there is no capacity in the current equity base to raise enough money, so D4E ahoy. Congrats to the persistent shorts out there.
cc2014: "What is completely not a signal: 1) New directors (just there to sort the mess, and with large non stock salaries) 2) New contracts (short term negative cashflow impact, 3% margin when paying 8%+ interest on £1B+ in loans)" My view - For reference CTO (ok - very different to CLLN but in the construction sector and it's the only example I have to hand) pay LIBOR+2.25% as stated in their annual accounts fixed until 2020. This is what will kill CLLN. If Keir, Galliford, Serco and the rest are paying LIBOR + say 2-3% they are always going to be able to out-compete CLLN on price. Any profits CLLN can make are just going to service the bond holders, who will bleed them dry. I suspect the shorts are closing as due to the volatility, brokers require more margin. My broker has changed the margin requirement from 20% to 100%. Same on IRV. Ok, I could phone them up and I'm sure they will offer me something but I don't think it would be much better than 75% Oh - and even though the shorts are closing the share price isn't going up - that's not good at all. What's supposed to happen in a short squeeze is the price goes up, often quite erratically. Weir is a good example. Oh and something else. The FTSE and Dow have been going up ever since their accounting issues started. It's all looking a bit toppy to me, although the Santa rally can't be far away. What's going to happen on even a 200pt retracement on FTSE Overall I think this is done for long term, although it will struggle on for years yet. I think most of the bonds are up for renewal in 2019? That will be the crunch point. Between now and then it has to feed the beast. Pay the bondholders and generate enough business to pay all those staff
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