Greene King Dividends - GNK

Greene King Dividends - GNK

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Greene King Plc GNK London Ordinary Share GB00B0HZP136 ORD 12.5P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 849.20 01:00:00
Open Price Low Price High Price Close Price Previous Close
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Industry Sector

Greene King GNK Dividends History

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

Top Dividend Posts

skyship: Last August a HK based propco bid £2.6bn for GNK - 850p/share. Timing is everything. Looking at MARS I suspect that today they could have bought GNK for £300m-£500m!
whackford: It would be very helpful if GNK PR department set out the timetable of events, with concrete dates, in an RNS.
whackford: Jeffian yes thanks - I did note that. "The acquisition is expected to complete in 4Q" sounds vague to me. Will there be a gap when GNK shares are not tradable (i.e. removed from investors' nominee accounts) and the cash being received into those accounts? If so, how long will that gap be?
jeffian: The timetable (included in the Scheme Document hTTps:// ) has to be couched in those terms because it depends on Regulatory approvals etc which are beyond their control. What you do know for sure at this stage is that the Court hearing and company approvals are set for 9 October and GNK have "guided" investors - "The Acquisition is currently expected to complete in the fourth quarter of 2019, subject to approval of Greene King Shareholders and CKA Shareholders and receipt of the required decision(s) from the European Commission and the sanction of the Scheme by the Court."
buywell3: To the prospective buyer: I suggest you read the following because the Pubs & bars sector now has the 3rd highest rate of closures in the UK If GNK is thought of as a Restaurant business then that is even worse as it is in the 2nd worse sector of High street closures in the UK In short in the UK the british pub is now a dead duck . History , a dying institution . The rate of closures for pubs is running at around 18 a week and has been for several years , in many towns they remain unsold and/or not leased ie empty and not trading. Supermarkets are to blame as very cheap cider, wines , beers and lagers can be purchased very cheaply to be drunk at home. Also drink driving crackdowns has kept car drivers drinking at home rather than losing their licence. read this recent UK article The UK High Street is becoming a dead place , numbers of people going into towns to shop are crashing. People are buying on-line Supermarkets are delivering to the homes of the people ordering now some for free Amazon is going to speed up home free deliveries even more . htTps:// All IMO dyor
libertine: Here is the Scheme Document with anticipated timetable.
spud: There he goes, Golum peddling misery. Probably doesn't even know GNK is being bought out and that the TU is regulatory. My precious...spud
philanderer: Numis: Greene King needs to cut cost Greene King (GNK) needs to make cost savings but Numis believes the pub group will avoid a dividend cut in its results later this month. Analyst Tim Barrett retained his ‘reduce’ recommendation and target price of 550p on the stock ahead of full-year results on 27 June, the first under new chief executive Nick Mackenzie. The shares dipped 3p to 604.2p yesterday. ‘We see an opportunity for added impetus to cost savings – necessitated by the highly inflationary cost environment – and possibly more active management of Greene King’s wide portfolio of assets,’ he said. ‘We believe the risk of negative earnings momentum persists but an immediate dividend cut is unlikely, even if the cash cover of 1.4 times leaves little headroom for additional capital expenditure.’ HTTPS://
thefartingcommie: fyi... BUZZ – Greene King: Falls; Berenberg says dividend cut, more investment necessary 10:33 * British pub operator Greene King shares fall as much as 4.4%; on track for the worst day in over a month * Berenberg says main issues facing GNK are poor value-for-money offer, recurring charges and dividend that consumes over 100% of free cash flow * "In the short term, we think that cutting the dividend, as well as more 'investment' into the P&L, are both necessary – and neither would be taken well in the short term," brokerage says * GNK's current dividend yield is 5.1% - Refinitiv Eikon data * Dividend yield of some peers: Mitchells & Butlers 0.00%, JD Wetherspoon 0.86%, Young & Co's Brewery 1.17% * Cost pressures have weighed on GNK, and they overshadowed upbeat forecast in April... * Berenberg also flags that FY 2020 faces tough comps, and trading is likely to have got off to a poor start * GNK to report FY 2019 results later this month * Broker says results may come "slightly too soon" for new CEO Nick Mackenzie to address issues * At PT of 450p and a "sell" rating, Berenberg most bearish on GNK; median PT of 15 analysts is 685p - Refinitiv Eikon data * Including the session's losses, GNK up ~19% YTD
the deacon: Langton's Assessment :GREENE KING 49 WEEK TRADING UPDATE:• Greene King has this morning updated on trading for the first 49wks of its current financial year being the period to the 8th April 2018 and our comments are set out below:• Headline numbers:• Greene King reports that it expects PBT in the year to end-April to be in the region of £240m to £245m. This is broadly in line with market estimates• Greene King reports managed sales in the 49wks to 8 April were down by 1.8% on the same period last year.• GNK says Pub Partners' net revenue for the first 48wks of the year was down 0.3% on last year• Brewing & Brands sales volumes were down by 0.7% (against an ale market thought to be down around 3.1%)• Managed pubs:• GNK says 'the weather over the last 12 weeks impacted trading, particularly in our destination food-led pubs, and on an underlying basis, excluding the impact of snow, LFL sales in the year-to-date were -1.2%.'• The 49wk period represents a slowdown on the 37wk period. Certainly 2018 does include the snow but it has Easter in it too, which was not the case for the first 49wks of 2017• As this is only a trading update, there is no comment on margins.• GNK says that food took the hit with 'both drink and accommodation LFL sales were ahead of last year.'• The company adds 'trading over Easter was strong with LFL sales up 2.8% against the Easter weekend last year, helped by strong sporting fixtures, especially football and boxing.'• GNK says that investment is paying off 'despite the continued challenging market backdrop.'• Momentum is clearly negative and, while 2018 numbers (though recently reduced) would appear to be in the bag, 2019 could be tough• GNK says 'we continue to reposition Pub Company to drive growth going forward; we will complete the exit from Fayre & Square by the financial year end; we opened nine new pubs over the year; and we invested core and brand conversion capex in 292 pubs.'• Other trading data:• GNK says 'after 48 weeks, LFL net profit in Pub Partners was -0.3% while own-brewed volumes in Brewing & Brands were -0.7%, ahead of the UK ale market at -3.1%.'• Both number represent a slowdown on week 37 data• GNK adds 'we remain on track to deliver targeted cost savings of £40-45m, we will have spent c. £160m in the full year in ensuring our estate remains well invested and our disposal proceeds are likely to be ahead of expectations at c. £120m following the sale of three high value leasehold pubs.'• Overall, Greene King reports it expects profit before tax and exceptionals to be 'in the range of £240-245m.'• GNK concludes 'with our high quality portfolio of pubs, excellent team, strong balance sheet and sustainable dividend, we remain well placed to withstand the external market challenges and deliver long-term value to our shareholders.'• Langton Comment: Greene King has reassured on 2018 but 2019 may be tough.• There are no comments today (and perhaps none were to be expected) on margins, debt or dividend.• We believe GNK will hold or perhaps marginally increase its dividend in order to maintain its sterling record in that regard. However, with profits down some 11%, there may be some concerns here going forward.• The weather has been unhelpful for 6mths or so.• But GNK has been able to confirm that the bottom has not fallen out of its world. This is reassuring to say the least.• Spirit was an ambitious acquisition. The group's shares have not performed well since the purchase. Certainly other pub companies have also experienced tough conditions and GNK is addressing its issues re Fayre and Square but the SPRT purchase may, with hindsight, not have been the best of ideas.• Uncertainty is unavoidable and this will extend to 2019 forecasts. These may be trimmed back.• GNK is prima facie cheap at these levels. It is one of the UK's better-positioned pub companies and, with its shares now trading at a single-digit multiple, this may be an attractive entry point.• However, the direction of travel is negative and the group has to execute on its strategy. There have been some signs of indigestion recently and cautionary comments may put off would-be buyers in the short term.
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