Gvc Share Discussion Threads

[speedsgh] 05/9/2017 16:54

Noujay - No, the rns states "the Group plans to adopt a dividend policy ... commencing financial year ending 31 December 2017." The interims to be released on Thurs 14 Sept will be for H1 of the current FY ending 31/12/17. So they will be announcing an interim dividend in the half year results. XD/payment dates to be confirmed in the announcement but at a guess payment will probably be sometime in Oct?

As for special dividends/share buybacks, they say "Excess cash will be determined by the capital requirements of the business, together with the trading outlook at the appropriate time." So, in theory, if they believe that there is excess cash at this stage of the FY, they might announce a special dividend alongside the ordinary interim dividend. However this is pure speculation; the appropriate time could indeed be at any other point in the financial calendar.

I prefer to adopt the approach of expecting nothing in terms of special dividend; then any special payment can be viewed as a pleasant surprise & a bonus. All part of expectation management. Hope this helps.

[noujay] 05/9/2017 16:41

Ok so that means that excepting specials, dividends are not resuming until next year with payments due at the mid-year mark.I would hope of course that as the LADS approach has failed there is no reason not to distribute free cash as specials, commencing next week!

[t 34] 05/9/2017 16:28

Thanks again .

[speedsgh] 05/9/2017 15:38

T34 - Current dividend policy as per the announcement on 3/11/2016...

Special Dividend and Trading Update -

Dividend Policy
Absent of any significant capital allocations or investments and consistent with maintaining appropriate capital ratios, the Group plans to adopt a dividend policy of distributing 50% of annualised free cash flow, commencing financial year ending 31 December 2017. It is expected that payments will be biannual with an approximate split of 40%:60% between the interim and final payment. Furthermore, the Board will also consider returning any future excess cash to shareholders in the form of special dividends and/or share buybacks. Excess cash will be determined by the capital requirements of the business, together with the trading outlook at the appropriate time.

[coxsmn] 05/9/2017 15:36

GVC operate in Germany with all the necessary licenses.

[shayadfn] 05/9/2017 13:31

I think the downturn has more to to with the US dow futures looking to fall this afternoon, I'm looking further opportunity to add.

[noujay] 05/9/2017 12:53

Any thoughts on the Germany tax issue 888 are provisioning for might apply here..how much business do GVC do in Germany?

[woodhawk] 05/9/2017 11:34

On past performance, I guess the ex-divi date will be near-term as will the payment itself.

[cheshiremoggie] 05/9/2017 11:30

The current company policy is that a dividend will be announced with these results.

[t 34] 05/9/2017 10:29

Should we receive the divi with this results ???

[noujay] 05/9/2017 10:16

888 a bit muted although due to the unexpected assumed tax charge I'd think. Similar or better performance levels here next week with a higher dividend and no exceptional charges ought to be well received..

[mnomis] 04/9/2017 17:28

US holiday impact I am sure

[noujay] 04/9/2017 13:13

Seems remarkably low volume so far today, very sluggish

[cheshiremoggie] 03/9/2017 22:40

The company has already announced its dividend policy and that stated policy is for there to be 2 dividends in 2017.
One at the interims and one at the finals.

Unless there has been a change to that policy then that is what we should get.

My guess, for a number of reasons is a dividend of 16c at the interims.

Not long to wait now...

CM.

[noujay] 01/9/2017 22:08

Many thanks for that.Limited M&A increases the likelihood for swift resumption of dividends I would think

[loganair] 01/9/2017 21:34

Online gaming and sports betting GVC, which had been linked with a bid for Ladbrokes Coral, was boosted by a note from Berenberg, with shares up 18.5p on the day to 799p. The note said analysts were expecting good results when it reports its full first half figures on September 14, although added that M&A activity would most likely be limited for now.

[brownie69] 01/9/2017 19:43

Mylands,

I know PI's are sceptical about these kind of things but there is no way that a non house broker should be talking to the company in a closed period, ie the month before an announcement. The broker would be mad to change guidance while the company is closed unless it was third party reasons.

Usual process is that the house broker analyst gets taken offside as the market closes the day before. Thats the only sell side broker contact a company should have when in a closed period.

[gucci] 01/9/2017 19:19

great to see a surge at close

[festario] 01/9/2017 19:15

Cenkos are the House Broker and advisor to GVC, are Berensberg linked to GVC in some way?

[noujay] 01/9/2017 16:27

Not an OK but quite likely a quiet line into what's en route!

[woodhawk] 01/9/2017 16:23

Getting an OK? I don't think so!!

[mylands] 01/9/2017 16:17

Does anyone think Berenberg would issue such a target two weeks ahead of the results without getting an ok from the company? I don't!

[woodhawk] 01/9/2017 16:17

Indeed - hopefully with either a special divi, the reinstated regular divi... or both!!

[noujay] 01/9/2017 16:10

Expecting good results then, along with the rest of us!