Kier Dividends - KIE

Kier Dividends - KIE

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Stock Name Stock Symbol Market Stock Type
Kier Group Plc KIE London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
1.20 1.73% 70.50 08:12:52
Open Price Low Price High Price Close Price Previous Close
70.00 70.00 70.70 69.30
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Industry Sector

Kier KIE Dividends History

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

Top Dividend Posts

takeapunt1: It’s obvious that there are so many external factors affecting the share price of Kier and other tier 1 main contractors. As of end April 22 they stated they were trading in line with expectations, if this equates to the planned £100m profit and eating into the average monthly net debt along with being within say 2 years of a dividend returning then that for me will be impressive given the economic back drop. The huge exceptional costs in turning the company around are a thing of the past so it’s about consistent performance year on year which will gradually be reflected in the share price.
gixxer1: Hi all - long time, no post but I do visit daily for a laugh. Why don't people just move on? There are the constant posts from the same people slagging off Kie or bigging them up. It would appear that very few people on this Board actually have an investment in Kie. Do the same few people really think they can influence the share price? What is it to you if Kie aren't doing well and people have lost out; is it your money THEY have invested? If you are doing well out of them, then good for you. If not then, move on. It is your money that you either are or are not invetsing, not someone else's. As you know I am a Kie employee and have been for 12 years. I have shares and am not worried about losing out: if I was then I wouldn't have invested in the first place. You pays your money and you takes your chances
stdyeddy: You really are a snide little snake aren't you sicko? Or perhaps you've had a little warning about libel? Just a small sample of your work -- snide little comments and outright lies all replaced with a fullstop: zicopele - 13 Jul 2021 - 10:28:58 - 22516 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 10:01:19 - 22514 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 09:12:25 - 22512 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 08:50:49 - 22509 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 08:43:36 - 22506 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 08:32:45 - 22503 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 08:24:01 - 22499 of 23612 Kier Group 2005 - The Building Business - KIE . zicopele - 13 Jul 2021 - 08:18:10 - 22497 of 23612 Kier Group 2005 - The Building Business - KIE .
wallywoo: In 2007 Kier had a market cap of £810m (45m x 1800p) In 2022 (now) they have a market cap of £350m With the new equity issues, shareholders have injected: 858 x 40m = £343m in 2016 409 x 62m = £253m in 2018 85 x 283m = £240m in 2021 Total injected by shareholders over 15 years = £836m Therefore capital loss for shareholders over 15 years is; 810 + 836 - 350= £1296m. Any dividend paid out would of been massively out weighed by the capital loss in any one year. And of course no dividends have been paid for 4 years, while Davies has been in charge. Neither is a dividend likely anytime soon. This has been a terrible investment for 15 years and there are no signs of the loss stopping. Roughly £87m average capital loss every year with the loss accelerating in the last 6 years. Nothing has changed, scam / rampers are still trying to dress this rubbish as a good investment, but this proves it's a real long term dog. Davies and the the current management have been in charge for nearly 4 years, where the capital losses have been the highest. Hardly something to applaud!!!
wallywoo: Since there are 8x the number of shares in issue than there were 6 years ago (55m to 446m), Kier have no choice but to try and keep shareholders happy. Unfortunately with cash still flowing out of the company that will be very difficult. I went through the last 6 years accounts to see the cash inflow / outflow in H2 compared to H1. I found the cash improvement was around +£40m for 5 of those years, and -£40m in 1 year. Not surprisingly all of those years had a large cash outflow in H1, but only 1 was worse than this years (2018/19). 2019/20 was the year where cash flowed out in H2, 6-12 months after a equity issue (ie like today). Kier like to spend money when shareholders give them more!!! Since they have a operating £109m cash outflow in H1, that means the best you can hope for is £69m cash outflow (£40m improvement). Though I doubt it will be anywhere near. With 8x the number of shares and no chance of any dividend, and a weak market, Kier's share price will be under pressure for a long time!!! The company will spin hard in their capital markets day, as they have always done but cold hard cash generation (ie lack of), will dictate where the share price goes. None of the figures above count the cost of debt, which with inflation and interest rates rising is only going one way (also increase pension liability with their massive £2B fund). 30p by July / August
km18: ...from last year... Kier Plc is a construction and infrastructure company delivering for both public and private sectors, covering education , health, justice, defense, highways, infrastructure and utilities. Market cap is around £579m, PE ratio only 8. Today’s update confirmed that trading has been resilient and that the Group’s full-year results are anticipated to be moderately ahead of the Board’s expectations. The performance reflects strong operational performance and numerous cost savings made in response to the Covid-driven fall in volumes of activities. An adjusted FY21 operating profit margin of around 3% is expected this year. Order books are healthy. A capital raise and sale of Kier Living have raised gross proceeds of £350m  so that Kier has a strengthened balance sheet and the financial power to pursue its strategic objectives. Positive adjusted operating cash flow is expected for FY21. Net debt/cash should be better than previously expected although no new numbers are provided... ...from WealthOracleAM
imastu pidgitaswell: wally - the numbers I used were the average net debt at: 31st December 2020: "Net debt at 31 December 2020 of GBP354m (FY20: GBP310m), average month-end net debt stable at GBP436m (FY20: GBP436m)" and 31st December 2021 - see today's RNS. "Kier Group plc ("Kier" or "the Group"), a leading infrastructure services and construction group issues a trading update for the six months ended 31 December 2021" They were the numbers as at the half year stage - but they are 12 months apart and therefore comparable in terms of working capital cycles.
stdyeddy: The update today: Kier continues to win new, high quality and profitable work in its markets on terms and at rates which reflect the bidding discipline and risk management introduced under the Group's Performance Excellence programme. We remain focused on winning work through our long-standing client relationships and regionally based operations. The Group's order book at 31 December 2021 was c.GBP8.0bn, an increase of c.4% from the year-end position (FY21: GBP7.7bn). The order book continues to be underpinned by significant long-term framework agreements. New awards exceeded the prior year, albeit the growth in order book was later than anticipated due to procurement delays. Recent contract awards include: -- Infrastructure Services: o Highways - over GBP1bn of work awarded over the last six months including the design and build of the A66 Northern-Trans-Pennine schemes o Infrastructure & Utilities - appointed by Thames Water to deliver GBP66m improvement project at Mogden Sewage Treatment Works -- Construction - appointed to the GBP7bn Department for Education 2021 Construction Framework; appointed to design and build GBP93m worth of new clinical buildings at Luton and Dunstable hospital; appointed as preferred bidder to deliver GBP36m new Sunderland eye hospital o Kier Places - extensions of two existing long-term contracts worth a combined GBP71m Net debt The Group is expecting a cash outflow in the first half of the year due to the typical unwind of working capital. The Group's average month-end net debt has significantly reduced from GBP436m to below GBP200m period over period as a result of the successful capital raise, the sale of Kier Living and cash generation. This was partially impacted by a GBP42m reduction in the average month-end KEPS balance, payment of adjusting items, capex and cash unwind of procurement policy note 04/20. The Group's supplier payment days remain unchanged period over period. Medium Term Value Creation Plan The Group remains confident in achieving its medium-term targets of: Revenue: GBP4.0 - 4.5bn Adjusted operating profit c. 3.5% margin: Cash conversion of operating c. 90% profit: Balance sheet: Sustainable net cash position with capacity to invest Dividend: Sustainable dividend policy: c.3 x cover through the cycle
imastu pidgitaswell: I would agree with that - but it remains a work in progress (as is Costain before anyone starts...) Fragile and I don't think all of the nasties have been fully declared yet - trade financing and delayed tax etc etc. I don't think any of that will impact the share price when it is declared - but they have been very careful with the level and timing of their disclosures. Anyway - the article (really a very very short 'interview' once the journalistic background is excluded - how many quote?): The chief executive of the UK government’s biggest construction contractor has admitted that a Cabinet Office decision to “de facto” support the company with contracts for the HS2 railway line saved it from a Carillion style-collapse three years ago. Andrew Davies, the chief executive of Kier, says the business was an “absolute mess” and on the brink of bankruptcy when he took on the challenge of rebuilding the FTSE 250-listed business in April 2019.  “It was tough love, and there were no special favours,” Davies said in an interview with the Financial Times. “But the government did de facto save us by awarding us contracts. The biggest one was HS2.” Kier is the UK government’s second largest contractor overall, using thousands of subcontractors to build hospitals, schools and prisons. It is also the Highways Agency’s largest supplier as well as one of the biggest contractors on the HS2 rail link, where it is building the line from the Chiltern Hills, north west of London, to Birmingham. “There were hard talks but the government made it very clear it didn’t want another collapse,” said Davies, a former executive of BAE Systems. “We did matter.” The government said: “HS2 Ltd’s rigorous procurement process is open to all bidders with the relevant experience and required credentials, and ensures value for money for the taxpayer.” Davies took over Kier after it admitted to “accounting errors” that wiped millions off the share price and with shareholders unwilling to support an emergency cash call. Rival contractor Carillion had been liquidated a year earlier and Interserve was in the hands of creditors. There were fears that a Kier collapse would have been more disruptive to government services than its rivals as it was engaged in fewer joint ventures, in which partners could continue the work. Now, Davies says that Kier is on the up again after posting a £9m profit on revenue of £1.6bn for the six months to the end of December, compared with a loss of £41m on revenues of £1.8bn in the same period the previous year. In April, it raised £241m in a rights issue to pay down much of its £436m net debt. Like Carillion, Kier had squirrelled away debts on its balance sheet and expanded in areas in which it had “no experience and no expertise”, said Davies. He has narrowed the company’s focus, ridding it of its environmental services and housebuilding operations and shrinking its facilities management business, reducing staff numbers from 16,000 people to fewer than 12,000. The company is now an infrastructure and construction group with an £8bn order book, almost solely focused on winning work from the government or regulated utilities, he said. It has yet to set out plans to restore the dividend. Still Davies is optimistic that the company has weathered the pressures of the pandemic. Kier took £9m in furlough payments from the government, which it has not repaid. On most of its contracts, including HS2, the government bears the brunt of any increase in materials prices or unexpected costs. Stephen Rawlinson, analyst at Applied Value, said Kier had “got lucky and been given the chance to rebuild”. “The collapse of Carillion helped the government realise it did not want a repeat,” he said. “The balance sheet is still weak but it is winning work.”
stdyeddy: I see a sneaky poster attempting to promote alternative shares on here again. The fact of the matter is that Kier is the market leader in construction and has massive momentum compared to smaller operators. Kier's share price will ultimately reflect this. Two loss-making contracts almost wiped out Costain (for example) -- Kier has already handled much worse and has survived. Banks are onside and will continue to be very supportive, regardless of Davies's decision on the equity-raise, imv. The business has clearly turned a corner and lenders are earning safe money from the UK's largest construction firm. After the equity-raise terms are published, my guess is that the share price will increase by multiples. We have now passed the nadir for Kier's share price and after two years of bad news, I think we will now see many positives coming from the work that Davies's management team has done in positioning the business for recovery, including increasing margin, increasing revenue and cash coming into the business. A key aspect to the equity raise (apart from reducing debt and finance costs) is making the shares attractive again; it's a key performance target for Davies and he has a large bonus-incentive riding on it. Without the cash-raise, it will take Kier three years to achieve a net cash position assuming profits a little below the low end of Davies's recent forecast -- he forecast profit margin of between 3% and 3.5% on turnover between £4bn to £4.5bn; that's £120m to £157.5m. Without new cash, finance costs will put a dent in those earnings of maybe £15m a year. But with a cash injection, Kier might achieve net cash in as little as six months. That could bring the prospect of dividends forward by more than two years. Davies has stated an intention to pay dividends of around one third profits, conceivably £40m+ a year. If the market were to rate the share price on a 4% dividend return (as it has done historically), Kier's market cap would be in the region of £1bn (today's market cap is about one sixth of that value at around £160m). If profits are at the higher end; £52m in dividends and a £1.3bn market cap. A p/e ratio for total earnings is around 18 for the sector. At a p/e of just 15 and profits of £140m, Kier would be valued at £2bn, and if the market rates Kier as the sector leader this would push the market cap even higher. The share will increase in multiples of the current share price and I think few people disagree with this. A key factor on the multiples is the level of dilution from the equity raise. If we are ultimately looking at a £2bn company with twice the current number of shares, perhaps we will see the share price increase only 600%! There is also the potential for more positive surprises; Tempsford Hall had an asking price of around £40m. Regional property has increased in value due to the influence of covid; just £35m from this asset would make a significant dent in the money needed from the equity raise. Another key aspect to the share price dynamic is the very small proportion of available shares. Only 27% of Kier's shares are NOT held by major shareholders. This has enabled much of the volatility in the share price; relatively small trades have moved the share price disproportionately, enabling hedge funds to 'artfully' manipulate the share price down especially in 2019, a significant factor in the sp's low point. Diluting the holdings of the major holders conceivably increases the opportunity for a bid for the entire company. My guess is that the major holders will feel obliged to minimise dilution as much as possible, particularly since Kier has now turned a corner. An investor holding Kier through the last two years of re-structuring is unlikely to meekly give up their holding now that the business is about to reap the rewards. That means that they will take up whatever additional equity is made available, and I'm guessing that this is a key negotiating/directional point with major shareholders, the Kier board and the commercial banks/underwriters for the equity raise. For that reason, I reckon that shareholders will get a good deal in the equity raise AND that it will be massively over-subscribed. We will have the answers soon; we are now more than three weeks into the 'coming weeks' period mentioned by Davies when he discussed the equity raise. We are also only six-and-a-half weeks away from the year-end. Figures are obviously not available the day after the year-end, but last year Davies rushed out an update the very next day on the state of the business. Since Kier managed a £9m profit at this last half-year with the tail-end of two years of exceptional costs from its restructuring and covid expenses, this next half-year could herald a return to normality and possibly a £40m profit. This would be another positive surprise for the market, which has grown used to Kier disappointments rather than successes, evidenced by the current forecast p/e of approximately 1. Just one year's earnings!! Unusually for Kier, we are in a period of frequent newsflow. Put a £40m profit together with the sale of Tempsford Hall and £75m starts to alter the equity raise numbers very significantly. Obviously this is just speculation, but Davies and his team have spent two years turning the great Kier ship around; I think it's entirely possible that positive developments will now begin to balance the disappointments of the previous management team's efforts. But even without new positive outcomes, the stage is already set for a massive recovery at Kier. The business remains the largest UK regional construction firm with a formidable order book and a slimmed down profit-focused workforce. Recent moves in the share price are beginning to reflect this.
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