Cineworld Dividends - CINE

Cineworld Dividends - CINE

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Stock Name Stock Symbol Market Stock Type
Cineworld Group Plc CINE London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 68.22 01:00:00
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Industry Sector

Cineworld CINE Dividends History

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

Top Dividend Posts

lthtrust: What do you mean "it's worth noting that a large part of CINE debt is lease liabilities which should be manageable as revenue increases over time" ? Lease liabilities and bank loans are both debt. As of June 2021 cineworld had $8,887.6 Million of financing activity liabilities. They also had $452.5 million cash in bank. They have since borrowed another $200 Millon. In the first 6 months of 2021 cineworld had finance expenses of $417.2 million, after finance income of $74.1 million, the net finance expenses were $343.1 Million. In the 2021 interim report it says "The finance expense of $417.2m (2020: $308.4m) predominantly relates to the charge in respect of the unwind of discount on lease liabilities which totaled $219.0m (2020: $164.2m) and the interest on bank loans and overdrafts which totaled $126.6m (2020: $72.9m)." It also states in the 2021 interims "The Group’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Group should be able to operate within the level of its current facilities for at least 12 months from the approval date of these interim consolidated financial statements. The Group’s weighted base case forecasts that no covenants will be breached during this period. However, the covenants are forecast to be breached at 30 June 2022 under the Group’s severe but plausible downside forecast. Details of the Directors’ assessment of Going Concern are set out in Note 1 to the Interim Financial Statements." The question is are cineworld currently on track for the weighted base case scenario or the severe but plausible scenario ?
careful: The modern investor who dabbles in cine or bitcoin is not really an investor, he is merely a punter. more like poker, a zero sum game winners=losers. I did it myself this summer. Just for fun. All the gloom about covid sent cine, saga and tug tumbling. I had a punt on all three. Dumped the lot 2 days later and made a few hundred quid. 'when the fun stops stop'. We are getting to the stage where the health of a company and its profits no longer matter. Why not just ride the curve, do we need the excuse of a company or asset anymore, just give each 'thing' a number then ramp it up to get the buying going. That is how bitcoin works, goes up and down and it is worth nothing. Lots of money to be made = exactly the money to be lost.
careful: Gross gearing less intangibles 351%. Negative net assets after intangibles too huge to quote. I am so old fashioned. These things used to matter. Balance sheets do not matter anymore. but there could be a huge turnover if things get back to normal, and debt is cheap, although cine debt is massive. Not for the faint hearted, he who bought 300,000 must have nerves of steel. A hero if he wins. If Covid gets worse and enough people get nervous and stay away, cine could be in trouble by the spring.
1happyinvestor: That wasn't my question LTH. How much was paid out total in each of those years? With no dividend, could those sums have been used to reduce debt for example? Imagine the company that has made several cost reductions now and not paying a dividend. Might they pay down some of their debt if/when attendance levels warrant ;-)
lthtrust: The special dividend in 2019 was paid from the proceeds of assets sold. Cineworld has huge amounts of debt and lease liabilties as a result of it's operating model. From the 2019 annual report "In line with the Group’s operating model (in terms of which we lease and not own almost all of our cinemas) and our long-term strategy of crystallising value for shareholders, during the year the Group completed two sale and leaseback transactions for a total of $556.3m, relating to 35 US-based sites. The Board utilised half of the proceeds to reduce gross debt and the other half to reward shareholders by way of a one-off special dividend of 20.27c per share."
john09: This is gonna go on a run now This is the tip i alluded to at the weekend just gone. Probably safe enough to share now Highly recommended The Momentum Investor — Cineworld - Exciting film slate and pent up demand could drive re-rating 65p Epic code: CINE (Momentum Investor) It’s well-known that entrepreneurs have a higher appetite for risk than most but perhaps none more so than the Greidinger family who effectively gambled their then 28% interest in leading UK and Central European cinema operator Cineworld through the reverse-takeover of Regal, the second largest player in the USA. Although that US$5.8 billion transaction in February 2018 immediately transformed Cineworld’s scale, with turnover and EBITDA profit increasing 255% and 278%, respectively, to US$4.4bn and US$1bn between FY’17-‘19, it also massively increased net debt from US$384m in ‘17 to US$3.5 billion in ’19. Covid has meant the timing, of course, was horrendous as was Cineworld’s incredible doubling down through a proposed US$2.1 billion acquisition of Canadian operator, Cineplex, in December 2019, which would have delivered market leadership across the US and Canada with almost 9,000 screens. It looked to all and sundry that Cineworld would go bust early in the pandemic but somehow the company walked away from Cineplex, citing breaches of deal conditions, although the latter have lodged a legal claim for damages. Despite posting an adjusted loss of US$2.65 billion with net debt increasing from US$3.5 billion to US$4.6 billion in FY’20, management are on course to win an Olympic medal as a Great Corporate Survivor. Although the Greidingers (through Global City Theatres) were forced to sell 108 million shares to restructure a margin loan agreement, they have retained 20%. More amazing still, the only share dilution has been warrants (strike price: 41.5p), which came attached to new debt and if exercised would dilute shareholders by 9.99%. In all, management have amassed liquidity of US$600m, enough to cover 10 months of zero trading. However, the good news is that trading has resumed in the USA (73% FY’19 sales) on 2 April, in the UK (15% sales) on 17 May and in Rest of World (12% sales), which includes Israel, Poland, Czech Republic and Romania, in late May / early June. Cineworld can point to a strong film slate including the latest Bond while broker, Jefferies, believes interims on 12 August will confirm a strong rebound with encouraging admissions data from the US. It says the shares “are attractively valued at c. 30% free cash flow yield” while they trade well below 2019 highs of 322p. Jefferies’ price target is 150p.
andrewbaker: No-one, especially their landlords, wants CINE to shut down; and given gradual improvement worldwide re covid-19, that will expend to CINE too. Yes, it will be two to three years before the price ramps back up to any decent level - given what 'decent' may mean to each individual holder - but, as I've averaged down (having taken some profit before the price fell too much some time back), I'm happy to sit back and see my, currently slight, paper loss, turn into a nice gain. Patience is a virtue [and a nice girl too, lol ;-)].
speedsgh: @srp - as requested... Peel Hunt: Cineworld shares not quite a ‘buy’ yet - HTTPS:// Cineworld (CINE) shares have fallen but not enough for Peel Hunt to rate the stock as a ‘buy’ yet, with the broker waiting for the business to stabilise. Analyst Ivor Jones reiterated his ‘hold’ recommendation and lowered the target price from 85p to 75p on the stock, which closed down 7.1%, or 5.2p, at 68.3p on Tuesday. ‘Cineworld’s share price has drifted off since the highs of March when it reached 120p, more sharply recently,’ he said. Currently demand for the cinema is ‘robust’ and attendance for major releases is at close to pre-Covid-19 levels. However, Jones said Cineworld’s share price is ‘simply too vulnerable to its capital structure to take any chances’, given its large debt pile. ‘When we are sure the business has stabilised we may return to a more positive recommendation but, for now, we reiterate our “hold” recommendation and lower our target price,’ he added.
williamcooper104: Always was a very tight liquidity runway (absent any meme stock fun) for CINE - delta variant really doesn't help FWIW (which isn't much :) I went to the cinema twice last weekend - what else to do now we've got traditional British summer weather back - and while I enjoyed both movies and got back into the trailers/thinking about to see next - the cinema was still deserted Opening weekend of Black Widow (admittedly during the day) and only 6 people (3 of which being me and my two sons) in the cinema - my local cinema pre covid would have been packed out on opening weekend of a Disney tent pole
hpcg: Goldman downgraded Cinemark and Imax yesterday: httPs:// I don't think AMC could buy CINE/Regal for antitrust reasons. Not that is could afford to anyway as CINE is over $10b in enterprise value and if I was a lender I would absolutely call my loans in on change of control terms. With AMC offering shareholder perks it could actually be detrimental to Regal as they are a competitor.
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