Lancashire Share Discussion Threads

[jrphoenixw2] 05/12/2015 16:53

Does anyone know what the final Sterling pay-out will be for this div?
US$0.95, with the Sterling conversion rate declared on the Record Date [noon], i.e. 27th Nov.
I haven't seen this FX rate declared or recorded; anyone?
xe.com suggests the rate at that time might be close to 1.50617, to give say 63.074p

Other news sources from pre the R/D suggest 61p.

[scottishfield] 03/12/2015 13:54

topped up here :)

[hooley] 03/12/2015 13:29

MMs will shake the tree and maybe it says something about their position. Heads down and wait for the next dividend statement.

[themattbarnes] 03/12/2015 13:12

I estimate we are. Not sure what is happening today to the price though!

just been rerated Hold according to the Alliance news.

[hooley] 03/12/2015 11:33

There's a pattern to this company's dividend policy. It pays out what it earns and the cashflow generated. The u/w cycle of too much capacity remains. Whilst those conditions persist, specials can be expected. Are we in for a bumper payout next February?

[themattbarnes] 27/11/2015 13:33

Ah perfect thank you!

Not noticed any 250 companies that do not incur stamp duty before. live and learn!

Thanks Speedsgh.

[speedsgh] 27/11/2015 12:30

themattbarnes - below is from LRE's prospectus when they moved from AIM to a FTSE main listing...

Prospectus relating to Admission to the Official List and to trading on the London Stock Exchange -

No stamp duty or SDRT should arise in respect of the issue of Common Shares or Depositary Interests provided that the central management and control of the Company is not exercised in the UK and that the Company’s share register is not kept in the UK...

Lancashire Holdings Limited (‘‘LHL’’) is the holding company of the Lancashire group of companies incorporated in Bermuda on 12 October 2005. LHL is a specialty provider of insurance and reinsurance on a global basis. It specialises predominantly in property specialty insurance and has subsidiaries in Bermuda, London and Dubai. LHL writes risks primarily within property, energy, marine and aviation segments of the market and has a group rating from A.M. Best of A- (excellent). On 16 December 2005, LHL’s shares were admitted to trading on AIM, a market operated by the LSE. A secondary listing on the Bermuda Stock Exchange was approved on 21 May 2007.

[themattbarnes] 27/11/2015 12:11

stupid question, but why is stamp duty not incurred when buying LRE?

[hooley] 26/11/2015 16:53

Stripping out the 61p special from the 88p fall implies a fall of 3% - nothing much? Time to buy with the hope of another special next February? Meanwhile, I'll sit tight, given the upbeat tone of the recent statement.

[jswjsw] 26/11/2015 16:29

Well it's an interim of 3p, FY of 6p, mid-year special of 33p and now EOY special of 61p !!

YIELD of 15.1% anyone??…!!!

j

[speedsgh] 26/11/2015 11:07

In fact LRE have paid an additional special in each of the last 3yrs. That doesn't guarantee one this FY but it sets a nice precedent.

TOTAL FY 2014 - USD 1.85 (120.02p)
special (Apr 15) - USD 0.50/33.8333p
final (Apr 15) - USD 0.10/6.7666p
special (Dec 14) - USD 1.20/76.4112p
interim (Sep 14) - USD 0.05/3.0135p
---------------------------------
TOTAL FY 2013 - USD 0.80 (48.91p)
special (Apr 14) - USD 0.20/12.1133p
final (Apr 14) - USD 0.10/6.0566p
special (Dec 13) - USD 0.45/27.54p
interim (Sep 13) - USD 0.05/3.20p
---------------------------------
TOTAL FY 2012 - USD 2.10 (134.84p)
special (Apr 13) - USD 1.05/69.05
final (Apr 13) - USD 0.10/6.58p
special (Dec 12) - USD 0.90/56.05p
interim (Sep 12) - USD 0.05/3.16p

[hooley] 26/11/2015 11:03

Don't rule-out another special next February - they've done it before. This business is run for shareholders, who happen to have big stakes in the business. Back to 800p plus. Look at the reverse head and shoulders. Just doubled my holding. One day u/w capacity will shrink and LRE will have a bonanza.

[wassapper] 26/11/2015 08:47

It is ex-divi today. Tme to buy for next year now.

[dmf] 26/11/2015 08:43

That's what I thought - clearly must be today !!

[jswjsw] 26/11/2015 08:38

Why have these fallen today - the special divi record date is tomorrow, isn't it???

[badtime] 25/11/2015 12:59

Moved on nicely in anticipation of ex div tomorrow

[altom] 15/11/2015 19:23

MoneyWeek quotes Times. Yield is attractive. Could also be t/o target. Buy.
IMHO I agree and am increasing.

[cashmachine2] 06/11/2015 20:55

HooleyDo you seriously think £10 is achievable? O/T great to see Evil K spotting a huge uplift in PLE - currently 5.5 with an offer from Jim Mellon of 12.5p ps - fireworks again next week I feel http://masterinvestor.co.uk/latest/the-evil-diaries-plethora-and-pantheon/

[hooley] 06/11/2015 20:41

This coy's board clearly wants to stay independent. Overcapitalised, it returns surpluses to shareholders. If there is a hostile bid then it would need to be very generous, back towards £10 at least.

[battyliveson] 06/11/2015 16:31

Altom

Got some of this in my ISA for very reasons the Times has flagged. From speaking to a non-exec in market there has not been a big catastrophe loss for a while and as a result there is a lot of capacity in market which will hold down premiums. However, if there is a big Cat then as long as LRE are not overly concentrated in that area, then market premium rates will harden and so will profitability.

There are very few small quoted insurers hence has to be a strong chance of a bid.

Batty

[altom] 06/11/2015 15:46

I presume most people have seen today's Times. Advice is buy for long term. Yield is scrumptious near 10% and potential candidate for take over. IMHO definitely one to hold. I do not particularly understand insurance companies so thoughts from those better informed would be very welcome.

[11_percent] 05/11/2015 14:25

Wahhh hooo.

[johnroger] 05/11/2015 08:57

Special Dividend

Lancashire today announces that its Board of Directors has declared a special dividend for 2015 of $0.95 per common share (approximately GBP0.61 per common share at the current exchange rate), which will result in an aggregate payment of approximately $188.0 million. The dividend will be paid in Pounds Sterling on 18 December 2015 (the "Dividend Payment Date") to shareholders of record on 27 November 2015 (the "Record Date") using the GBP / $ spot market exchange rate at 12 Noon London time on the Record Date.