Charles Taylor Share Discussion Threads

[lord gnome] 19/8/2011 08:22

Dividends
The proposed interim dividend of 3.25 pence (2010 - 5.54 pence) reflects our decision to re-base the dividend, as announced in March 2011. It is our intention to continue to maintain a dividend payment pattern in the region of one third at the interim stage and two thirds as a final dividend.

WJC etc...
My take on this statement is that we will have a final divi of 6.5p. I will be more than slightly peeved if we don't.

[wjccghcc] 19/8/2011 07:50

The final dividend was 4.46p and I can't see them increasing it having cut the interim. I make that a total dividend of 7.71p and a yield of 5.8%.

[lord gnome] 19/8/2011 07:27

All in line and pretty much as expected. Unfortunately, in these markets, that will not be good enough and I reckon we can look forward to further weakness in the share price Divi 'rebased' at 3.25p, roughly as expected. We now have a yield of 7.5% based on a full year total divi of 9.75p and the current 130p bid price in the market. I have a sneaky feeling that the yield could yet get higher.

[speedsgh] 19/7/2011 21:47

Someone appears to have picked up 300k shares in two separate trades today for £1.50/share, well above the offer price at the time, which is hardly surprising for that kind of volume on a share that is thinly traded. That's £450k worth. Someone is presumably confident and sees value at present supported by an attractive dividend. V interesting.

[speedsgh] 15/6/2011 20:03

Write up in IC by Mr Bearbull.

"... Simultaneously, it has been converting almost all its accounting profits into cash. The cash-conversion ratio of operating profits to cash flow has averaged 86 per cent for the past six years. That's actually quite an impressive ratio and, as free cash per share (the cash theoretically left over for shareholders each year) has averaged about 23p over the same period, it lends credence to the notion that the reduced 10p pay-out should be the platform for future dividend growth. As even that reduced payout generates a 7.4 per cent yield, it does not take much effort to imagine that the floor in Taylor's share price has surely been reached."

[lord gnome] 10/6/2011 07:41

CTR has escaped the axe stayed in the index. Sell-off cancelled. Hopefully we'll see a little bounce now.

[simon gordon] 02/6/2011 07:17

Small Cap reshuffle next Wedensday. At the moment the cut off is £46m. CTR are currently £49m. 1p = 400K. Off another 10p in the coming five trading days and they could be out. If they drop out there could be a good buying opp at c.100p.

[wallywoo] 19/5/2011 10:04

well no surprises in the IMS. This is now looking really cheap IMO. PE of 6, should yield over 9% all being well, good solid business etc. Topped up in my ISA this am.

[bench2] 17/5/2011 21:46

New CEO has every incentive to kitchen sink , write down assets etc get an option grant at cheap price , watch and wait .

[topvest] 17/5/2011 20:10

I think it's too early - more likely than not that poor news until they stabilise the business in my view. Still watching with interest though.

[wallywoo] 17/5/2011 16:04

IMS due any day now. Lets hope that stops the rot here.

[simon gordon] 17/5/2011 12:07

LG,

They could be getting booted out of the Small Cap index in June.

[lord gnome] 17/5/2011 11:51

CTR continuing its descent into oblivion by the looks of things. Down to 130p bid. Can the situation really be that dire? Either we are missing a vital piece of information or this is a great buying opportunity.

[wallywoo] 01/4/2011 13:42

Bouncing on a tip from the Independant:

Charles Taylor Consulting

Our view: Buy

Share price: 140p (-19p)

Charles Taylor Consulting (CTC), it is worth pointing out, has nothing to do with the former Liberian president on trial at the Hague, and everything to do with the business of insurance.

The group started life as a coal merchant in the 1840s before moving into managing the Standard Steamship Owners' Protection and Indemnity in 1885. Today CTC, which listed on the London Stock Exchange back in 1996, has four operations, the biggest of which are management services for mutuals and adjustment services.

Revenues were up slightly from £96.6m in 2009 to £99.1m last year, but the company admitted that 2010 had been difficult. Pre-tax profits fell by a fifth to £12.5m and the company cut its dividend in half, saying it needed greater financial flexibility to re-invest. The headline figures in the company's full-year results were in line with the house broker's hopes, though the market did not appear to be pleased and the stock fell to levels not seen since the group listed.

That apart, the company's chairman, Rupert Robson, believes good things are in store once the newly announced chief executive, David Marock, takes up that role in the summer. The year may have started slowly for Charles Taylor, with a pretty mixed performance across the board, but trends may be moving in the company's favour.

Mutuals are more profitable, there is a more favourable regime in the UK, and business is likely to pick up after the tragic earthquake in Japan.

Moreover, with an undemanding forward earnings multiple of less than seven times, we think this stock may be worth a punt.

[topvest] 30/3/2011 21:04

Yes, all looks a bit uncertain. I will watch closely; think this will be good value at some point soon, but questionable as to whether it has bottomed yet!

[bench2] 30/3/2011 12:30

After 31% div cut shares will yield 7% on new 10p div base at 142p and 8% at 125p . New CEO 's have an incentive to kitchen sink and then be granted options and given the statement on current trading I shall stand back and watch events.

[simon gordon] 30/3/2011 07:09

Not looking good:

"Overall trading in the year to date has started slowly, and whilst certain of the group's businesses have performed in line with the board's expectations, this has been offset by weaker trading in other areas."

[wallywoo] 28/3/2011 12:07

Results this week (thursday I think). Seems a few buyers around. Could trigger a decent bounce or fall - dependant on the outlook. Japan must have been good for them (on the loss adjusting business). Personally think that they will hold the dividend, also most of their mgt contracts are now renegotiated, so think the share price will bounce from here, Time will tell

9% dividend if all ok!!!!

[its the oxman] 02/2/2011 09:14

yep, share price is saying odds on for div cut to me.

[wcjan26] 02/2/2011 08:53

looks like long term support has gone following the latest profit warning and CEO jumping ship.

what odds a divi cut next?

can see 80p in a worst case. not a bad risk/reward short with a stop around 180p

[envirovision] 28/1/2011 13:26

erm to say 55 pence in 2011 then?

[wallywoo] 07/1/2011 10:49

Things happen very slowly and steady in the insurance world, he has announced it now but is not going until end of of 2011. He has been there 37 years and I don't think he has been pushed (just had enough of the rat race). Personally think the search and subsequent finding of a new CEO will add to the change of sentiment on this stock (new blood and ideas etc), but there is no hurry, the co. is far from rudderless - so they have plenty of time to find the right guy.