Greggs Share Discussion Threads

[pooltowerpower] 25/4/2020 21:35

My fear is what the future holds if their shops re-open and then are forced to close for a 2nd time, because of a new wave of coronavirus.

[bouleversee] 09/4/2020 16:06

Just received an email saying it has definitely been cancelled.

[bouleversee] 09/4/2020 15:31

Well, yes, it was cancelled in a statement on Mar 23 but on p21 of the annual report which was only published on their website yesterday, it is still saying that 33p dividend will be paid. I have asked their financial PR people to clarify. I expect it will have been cancelled but that is very sloppy. Some people may have bought this a.m. on the assumption that it was going ahead. Nearly did myself but something else intervened and anyway my family has a large holding between the 7 of us so probably just as well I didn't.

[philanderer] 09/4/2020 14:25

Yep, dividend like many others has been cancelled. Just a third of my lot now are paying a dividend

[pilkington] 09/4/2020 14:01

"peteret9 Apr '20 - 13:20 - 3990 of 3992
0 0 0
Dividend to be paid on 21 May to shareholders on register on 17th April.
This is going down just like Tesco's did when they announced a dividend yesterday."


It says here the dividend will not be paid.

23/03/2020 4:15pm
UK Regulatory (RNS & others)

We will not now pay the previously-announced final dividend for 2019, which was due to be paid on 21 May 2020, and have stopped the programme of share purchases by our Employee Benefit Trust. These two actions will avoid around GBP40 million of cash outgoings this year.

[telbap] 09/4/2020 13:49

They are planning Peter which is more than most. Positive future here I think

[maywillow] 09/4/2020 13:33

Announcements

Michele Maatouk
Sharecast News
09 Apr, 2020 13:17 09 Apr, 2020 13:24
Greggs should have liquidity to withstand 'prolonged' closure
food sausage roll greggs

Greggs said on Thursday that it is eligible for the government’s coronavirus support scheme and should have sufficient liquidity to withstand a prolonged period of closure.
Greggs
1,762.00
12:30 09/04/20
-4.71%
-87.00
FTSE 250
16,094.42
12:30 09/04/20
1.46%
231.59
FTSE 350
3,212.52
12:30 09/04/20
1.07%
34.08
FTSE All-Share
3,173.73
12:30 09/04/20
1.07%
33.63

The company, famous for its sausage rolls, confirmed it is eligible to issue paper under the Covid Corporate Financing Facility (CCFF) scheme. The CCFF is designed to support liquidity among larger firms, helping them to bridge coronavirus disruption to their cash flows through the purchase of short-term debt in the form of commercial paper.

"The board considers that the credit available to Greggs under the scheme is sufficient to meet the company's liquidity needs for a prolonged closure period, including a scenario where our shops are unable to trade for the rest of the year," Greggs said.

The group has partially accessed the liquidity available to it under the government facility by issuing commercial paper at a value of £150m and with a duration of 11 months. In addition, it remains in "constructive" talks with its banking partners and is keeping open all options to address current and future financing needs, it said.

In its update last month, Greggs estimated a net weekly cash outflow of £5m - including the benefit of mitigating actions - if its shops were to remain closed for a prolonged period, plus rental costs of £11m per quarter. However, following clarification of the details of the Government's Job Retention Scheme and further examination of its cost base, it now expects the net cash outflow will be around £3.5m a week until the end of June.

From July onwards, it will rise to around £4.5m a week, including the cost of all property rents, which it expects to pay monthly in advance.

"Our cash at bank position is currently £47 million, before receipt of CCFF funding," the company said. "Whilst many uncertainties remain, we have ensured that Greggs and its many stakeholders will be well-supported through this difficult period and that the company will be in a position to return to profitable growth as soon as conditions allow."

[peteret] 09/4/2020 13:20

Dividend to be paid on 21 May to shareholders on register on 17th April.This is going down just like Tesco's did when they announced a dividend yesterday.But Tesco's is going up todayI think it takes a while for the info to filter through.

[bouleversee] 09/4/2020 12:07

I can't actually read the annual report on my laptop. I thought they had cancelled their dividend. When is the 33p due to go x-d and when paid. I'm glad one of my holdings is paying me something. Perhaps I should top since they have dropped today. I wonder why that is if they are doing so well.

[peteret] 09/4/2020 11:27

Good results despite the virus plus 33p dividend.And strong position going forward. Good future plans as well.

[peteret] 07/4/2020 20:56

Considering all their shops are shut this is doing remarkably well I'm glad to say.Im Holding for more up side and might add.

[alphabeta4] 01/4/2020 10:58

Funny you say that..

Gregg's to launch new range of frozen sandwiches.

Greggs, the leading bakery food-on-the-go retailer today announced it will be launching a new range of frozen sandwiches into supermarkets in the coming days.

Brian Langley-Thorne, head of sandwich development commented 'We have been overwhelmed by the number of people on social media saying they are missing their Greggs visits. Whilst this will be only a temporary measure it will enable people completing their weekly shop to ensure they can have their daily Gregg's sandwich to look forward to, bringing a little bit of sunshine in difficult times'.

[ny boy] 01/4/2020 08:40

Anyone desperate for a cream donut? There will be a bun fight when they reopen lol!

[dplewis1] 28/3/2020 21:56

Don't worry it's just spam he's hit 100's of boards with the same link

[bouleversee] 28/3/2020 21:45

We don't all tweet so none the wiser.

[essentialinvestor] 28/3/2020 18:36

Hi Phil, they look shares purchased under the deferred bonus scheme

[philanderer] 26/3/2020 19:20

Greggs PLC - Chief Executive Roger Whiteside buys 11,251 shares and Finance Director Richard Hutton buys 4,627 shares, both at GBP15.89, worth GBP252,237, on Wednesday.

Alliance News

[this_time_its_different] 26/3/2020 13:24

Iceland still selling frozen greggs, so revenue is not zero.

[lenzcrafter] 24/3/2020 14:34

Good to see lots of blue today.

[philanderer] 24/3/2020 13:57

Cheese and salami sandwich for me. 😀👍🏼

[waldron] 24/3/2020 13:20

Now our cornish pasties and somasas are homemade

they are real gooooood

but perhaps not up to greggs quality or shape

[muchodinero] 24/3/2020 13:17

Wow...the longer we stay closed the more the Share price goes up...win win....staff he paid by the government and no ingredients to buy...

[albanyvillas] 24/3/2020 11:25

This is finished. Are the shops shut