Share Name Share Symbol Market Type Share ISIN Share Description
Dignity Plc LSE:DTY London Ordinary Share GB00BRB37M78 ORD 12 48/143P
  Price Change % Change Share Price Shares Traded Last Trade
  -3.00 -0.42% 710.00 100,068 16:35:01
Bid Price Offer Price High Price Low Price Open Price
705.00 711.00 717.00 686.00 713.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 357.50 -19.60 -51.00 355
Last Trade Time Trade Type Trade Size Trade Price Currency
17:36:53 O 1,084 710.00 GBX

Dignity (DTY) Latest News

More Dignity News
Dignity Investors    Dignity Takeover Rumours

Dignity (DTY) Discussions and Chat

Dignity Forums and Chat

Date Time Title Posts
15/4/202113:50DIGNITY (DEAD CERT)2,198
01/8/201810:01Dignity (DTY) One to Watch on Wednesday 7
12/11/201211:00What does Dignity mean ?11
11/5/200919:05*** Dignity Plc ***2

Add a New Thread

Dignity (DTY) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-04-16 16:38:33710.001,0847,696.40O
2021-04-16 16:36:48714.755794,138.40O
2021-04-16 16:30:01709.041,44510,245.63O
2021-04-16 16:30:00703.839356,580.81O
2021-04-16 16:17:20706.511811,278.79O
View all Dignity trades in real-time

Dignity (DTY) Top Chat Posts

Dignity Daily Update: Dignity Plc is listed in the General Retailers sector of the London Stock Exchange with ticker DTY. The last closing price for Dignity was 713p.
Dignity Plc has a 4 week average price of 610p and a 12 week average price of 488p.
The 1 year high share price is 749p while the 1 year low share price is currently 211p.
There are currently 50,024,441 shares in issue and the average daily traded volume is 91,778 shares. The market capitalisation of Dignity Plc is £355,173,531.10.
mr5k: It is clear that management do not want to talk about the pre need business. I read the CMA report and can confirm that many of the sites that present themselves as price comparison simply get you to hand over your contact details. One then receives a call and at no point are you presented with options. The problem is that Dignity are paying away commissions of over £500 a year BUT many of these pre need plans are cancelled with in the first few years, potentially leaving the trust out of pocket. Yet the sales of these plans have accelerated in the last year (you can get the numbers from the recent statement). So, why would management continue to sell these plans that are clearly not in the long term interests of the business? My guess is that Whiley is desperate to show revenue growth when in fact there is none as proof of his managerial expertise. The business needs is proper management and not turning on the incentive spigot to juice the top line! Moreover, this practise could jeopardise the financial strength of the trust and the company down the line with serious ramifications. This is what Phoenix must mean when they say "the vested interests favoured short term optics over long term shareholder value".
mr5k: Indeed the salaries are paid by DTY plc
mr5k: DTY own the funeral parlours and all the profits accrue to them. I don't know how prices are set or how much autonomy they have.
velocytongo: This guy Richard Griffiths is interesting .. he often pops up on the share register if there is some corporate action .. there might be something a foot with the crem business .. this is looking like a good each way bet: if Phoenix win the business will be much better run and the share price should be worth multiples .. if Phoenix loose the only viable exit without trashing the share price is if the whole business is put up for sale .. VT
imastu pidgitaswell: It's a good one this - from the sidelines still. Popcorn required: hTTps:// Dignity, one of Britain’s biggest funeral operators, has accused its largest shareholder of trying to take control without paying a bid premium after Phoenix Asset Management moved to oust its executive chairman. The company has revealed that Phoenix had prepared a formal bid for Dignity in the second quarter of last year when the share price was weakened and the company “on the back foot” from the pandemic, board changes and the pausing of its transformation plan. Dignity urged investors to oppose attempts by Phoenix, which holds 29.9 per cent, to replace Clive Whiley with Gary Channon, Phoenix’s founder and chief investment officer, at a shareholder meeting next month. Dignity’s response to Phoenix’s requisition notice yesterday also revealed that Phoenix threatened to requisition shareholder meetings on a number of occasions “to get its way”. This included, ironically, pressing for the appointment of Whiley as chairman in 2019. It also said that Phoenix was behind the departure of Mike McCollum, Dignity’s chief executive who resigned suddenly a year ago, and that the search for a replacement had been suspended after Phoenix rejected a shortlist of candidates. The escalating row brings to the surface a long-running breakdown in the relationship behind the scenes between Dignity and Phoenix. The April 22 shareholder meeting comes after a downturn at Dignity, which has been battling a price war with the Co-op, profit warnings, criticism over a lack of transparency on pricing and increasing regulation. Dignity, based in Sutton Coldfield in the West Midlands, owns more than 800 funeral locations and operates 46 crematoriums in the UK. Attempts to respond to the pressure with lower prices and a restructuring have been hit by the pandemic and senior changes. Dignity said Phoenix’s move was a “wholly unnecessary act . . . at a time when the board had been making considerable progress towards the completion of the previously announced root and branch review” due to report in June, and Whiley, 61, was having a “galvanising effect on the business”. Dignity’s independent non-executive directors said Phoenix was not acting in the best interests of the majority of shareholders as a whole, “but is instead driven primarily by its own self-interest”, and said Channon had “demonstrated himself as lacking the skills and judgment required of someone seeking to be responsible for leading the executive function of a public company of Dignity’s stature”. Its non-executive directors have threatened to resign if Channon ousts Whiley. In a letter to shareholders ahead of the meeting, Channon said Phoenix was not seeking to control the board, it would have one Phoenix representative, would not increase its shareholding beyond 29.9 per cent and has pledged not to make an offer for the company, unless a third party has bid. “We believe that although the company faces many significant challenges as the funeral industry changes, there is great value to be unlocked if the right course is pursued in an expedient manner,” Phoenix said in the letter. Shares in Dignity, which traded at more than £28 in 2016, closed down 41p, or 6.1 per cent, at 621p.
mr5k: Great cash performance and it seems a much needed cultural change is underway. Looks like a good decision to stop an expensive transformation project (£50m!!). Also the amount of money spent doubling the branch network (via acquiring other independents) to maintain market share at 11-12% is an indictment of the previous management but not surprising. All the major execs were accountants who were simply playing the p/e acquisition game - namely buying earnings on a 5 times multiple but being rewarded 20 by the market. Disappointed that they've not found a CEO and not comfortable with Whiley maintaining two highly paid Executive Chairmen roles in companies that are turnarounds. These situations require laser focus. I'd be voting with Phoenix for the removal of Whiley. Let's face it the share price started the rally when the requisition notice was announced. I think earnings should rebound next year as the mix improves and we start to see the benefit of the efficiencies. Over time the shares should get back to the original levels as DTY's scale will enable it to dominate digital advertising and the funeral planning. COOP will also do well. I'm thinking that the independents may struggle unless they can offer much better service but this will also be a focus for DTY through improved training and recruitment. DTY vertical integration with its branches, dominant position in cremation (76% of funerals are cremations in the UK) and pre paid funerals means it (and COOP) will dominate the market, making it harder for the independents. If you then add scale and access to capital (expertise to build crematoria) to the equation, the outlook for DTY is very good. It could be argued that the branches will eventually become an expensive overhead but death and mourning are traumatic and having someone to speak to will be important. It's critical that staff are well trained and not incentivised by profits and lead customers to making the right decisions for them. Anyways, I'm a happy long term holder and glad I bought last year.
the grumpy old men: Dividend Policy The Company has not paid a dividend since June 2019 and the Directors do not expect to pay dividends until the business has returned to a sustainable and stable financial footing, notwithstanding the fact that the Group retains significant cash resources and remains cash generative. The Directors understand the importance of optimising total shareholder return, as well as the need to maintain a balance between different groups of stakeholders, and it is the Directors' intention to return to paying a dividend as soon as they believe it is financially prudent for the Group to do so. Summary outlook Unfortunately, notwithstanding the significant progress the business has made since my appointment, our largest shareholder Phoenix Asset Management Partners, with whom we believed we were having a constructive dialogue in relation to the future strategy of the business, has chosen this moment to seek to assert what would, in effect, be executive control at Board level. Whilst, in my view, the Group is now sufficiently robust to sustain this wholly avoidable and unnecessary challenge, it is nonetheless an unwelcome distraction as we remain dedicated to dealing with the ongoing fallout from the pandemic. To minimise disruption, the independent directors have been charged with taking the necessary steps to convene the required general meeting of shareholders and they will share their views on the resolutions to be considered at that time. It will then be for shareholders to decide on the merits of the Phoenix proposal.
mr5k: I don't believe in TA but, if I did, it's not a nice trend line. Then again, I'm looking 5 years out. What I can tell you is that there's lots of Simplicity (DTY low cost crem option) radio advertising here in London and that Simplicity is the lowest all in cost (inc Dr's fees). They intend to be the disruptor and the lowest cost provider. Previous management were pursuing the a gauge strategy in the belief that the market would not respond to lower pricing. My gut feel is that the pandemic may have accelerated the digitisation of the business and that this makes sense if the industry want to keep the CMA of their backs.
velocytongo: Dty have been preparing for this. It should give them the opportunity to buy out small scale players and increase market share.
velocytongo: Oh dear. I've already said in a previous post that the £1.2bn are long dated funeral prepaids .. this is not DEBT, which some people seem to think it is .. these liabilities are matched by £920m of investments, which means there is a deficit of £280m, spread out over 13 years .. there is £540m of gross debt and £80m of gross cash (net £460m) .. the company has loads of liquidity, no near term debt redemptions (it's like a mortgage, which amortises over 25 years of interest and principal and is £33m a year) and now with the CMA off its back is in the clear. If ADVFN says that it's got £1.8bn of debt that is wildly incorrect. They are prepaid funeral liabilities. Example. I go to DTY and pay for my funeral today and give DTY the cash. Let's say it costs £3,000. I give DTY £3,000 which simultaneously creates a liability (they have to guarantee my funeral at today's rate) and an asset (they have my cash, which they invest in the expectation that it will rise in value at the same rate as the cost of my funeral in the future). It is simply incorrect to call that debt. Moreover, these are all small scale liabilities and if the returns don't cover the costs of the funeral, DTY will still provide it, albeit at a lower margin (and this is a very high margin business). The only real issue was the possibility of the CMA fixing prices and potentially bankrupting DTY. That risk has now over.
Dignity share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210417 09:38:20