Hargreaves Services Dividends - HSP

Hargreaves Services Dividends - HSP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Hargreaves Services Plc HSP London Ordinary Share GB00B0MTC970 ORD 10P
  Price Change Price Change % Stock Price Low Price High Price Open Price Close Price Last Trade
-1.00 -0.5% 199.00 0.00 0.00 0.00 200.00 16:35:04
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Industry Sector

Hargreaves Services HSP Dividends History

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

Top Dividend Posts

cc2014: I have closed my position at 290p. I've made about 2% over 5 years plus the dividend stream. So, not great. Could have better and for a long time was alot worse. The issue with this company is there are lots of opportunities but also lots of risks. 6 months ago I felt they were definitely on the up but lately I've begun to worry about the return on investment on the new carbon pulverisation plant in Germany and about steel being made from hydrogen as a power source meaning coal won't be requried in the long term, so the timing of a new pulverisation plant seems poor. Then there's the falling price of renewables. On the upside we need lots of houses. The MM were happy to take 13944 shares of me yeserday. I kept 1000 for some sort of sentimental reason but overnight I decided to get rid of these as well. It seems that 1000 was enough to collapse the bid. I guess I got lucky. I have no idea where the share price is going next so I'll find a better trade. Good luck to those still holding.
cc2014: The trade pattern after the results continues the same as before with some decent sized lumps going through which I assume continue to come from one party. The challenge appears to be that if I look back over the RNS's there are a number of parties top slicing as the share price moves up. The buyer seems patient enough but presumably now happy to pay 323.2. I wonder how long it will be before they push the price up again? They don't seem in a hurry so maybe a couple of days.
cc2014: Hmm. If HSP share price is going up on a day when FTSE is down 170pts I'm minded to believe someone has a good idea what's in the results.
cc2014: bid 290p yesterday, 294p today. Feels like an algo is looking for volume and pushing up the price when unuccessful. Fingers crossed. It would be good to see the share price beginning with a 3
cc2014: Share price moved up a bit now and 300 holding for a good number of hours now.
muckshifter: CT, Response to your question over on LPA thread as promised. My overall view of HSP is that they will have to run hard to stand still for the next few years. I'm not considering buying any despite the future dividend indications, which in themselves look to me like an attempted justification for the share price. Their emphasis on developing property sites, I would assume is mostly based on old opencast sites. If you take Blindwells as an example, property profits from old OCC sites are likely to be OK but not great, slow to actually be realised and involve a significant cash drain to prepare the site for sale, well in advance of sale cash receipt. I'm still of the opinion that much of the £9.2m (iirc) "WIP" on legacy CA Blackwell contracts will eventually be written off (unless of course CAB staff follow the company's tradition and buy themselves out for a nominal sum and then miraculously get good settlements!). Also, I would now think HS2 is almost certain to be cancelled, which, imo, doesn't really leave a viable specialist earthworks division as the A14 work looked well on to me this Summer, and heading for the normally much less lucrative finishing works. And I'm not aware of when their private OCC Sites are programmed to complete, but the reinstatement costs will be another cash drain in due course I expect. But I must admit I haven't been interested enough in HSP to look at them very carefully - I just read the AR & Interims as they appear, so I'm open to correction!
gfrae: Well I cannot remember when they decided it was probably no longer eligible but it could have been post Nov 18. Of about 20 IHT shares I look at it is the only one they say is ineligible. Regardless of who is correct,it will or has affect(ed) the share price,which was my original point.
cc2014: Current dividend 7.2p, then an extra 12p from 2021 gives 19.2p plus whatever improvement we get on the 7.2p before then. Let's call it 20p which gives dividend yield of 8%. Current net debt is £18m and with £13m of legacy assets to sell along with cashflow from profits HSP should be debt free in a year to 18 months. Along with the NAV of 397p this imho puts a floor under the share price imho in this area. As the market gains confidence there are no further significant losses to come and the uplift in dividend gets closer I expect the share price to rise. Given underlying EPS is 15.3p per share and from 2021 they are proposing say 20p from above, the directors must have some confidence there are no further significant losses to come.
muckshifter: Very quiet here today after results and a rise in share price! Are all shareholders on holiday? Having read these results, I think the comment by meijiman in 1819 above looks very apt, as there does seem to be a big emphasis on property. A few things I noticed and found interesting in the results:- If the £0.6 million recovery of moneys paid for Blackwell represents full and final settlement, it is a miserable amount considering the problems Blackwell brought to HSP. Specialist Earthworks still looks to be in wind down - where to is anybodies guess. Blackwell would be vulnerable to HS2 cancellation, but such cancellation might generate decent compensation. The "legacy" CAB contracts which caused the huge losses seem about finished, so the losses (just £0.7m this year) should be almost gone, but there are £9.2m of presumably almost all contractual claims outstanding - as mentioned many times that was CAB's speciality. That is a very high figure so long after the relevant contracts had presumably submitted the claims cases. I would expect something of the order of £3m cash to be generated in settlements over perhaps the next two years, which helps the cash situation but means a corresponding write off of much the £9.2m value within the accounts. The info about Blindwells was quite informative, imo. The expenditure on "infrastructure" for the conditionally sold plots looks high, but that does not surprise me (post 1820 refers). It does mean, imo, that the profit ratio on sales of reinstated opencast are likely to be worthwhile but perhaps not anywhere near as spectacular as some shareholders believed.
cc2014: Interesting news this morning. I get all those "small" trades over the last few days now where people were prepared to pay the full offer. Lots of £5k type trades - I'm guessing friends of the management buying in. Anyways, it looks like a good deal for me. I wasn't expected them to dispose of Brockwell. Indeed I'm sure some time ago they were talking about spinning it off and then doing a fund raise on it as it would require more capital. I wasn't looking forward to a rights issue for that's great for me. I am surmising that the disposal would crystallise some of the discount in NAV to cash. Or at least depending on the deal to future revenue flows. Anything which crystallises the discount to NAV I approve of. So, I trust I have understood this correctly and wonder what the share price will do this morning, whether a) the news leaked some time ago and it's already in the price or b) the share price will move up a not unreasonable 10% or c) HSP is so far off the radar nothing will happen and it will gradually move over the coming weeks.
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P: V: D:20200604 02:40:47