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Share Name Share Symbol Market Type Share ISIN Share Description
Mckay Securities Plc LSE:MCKS London Ordinary Share GB0005522007 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -0.52% 190.00 190.00 195.00 207.00 192.00 198.00 14,403 16:35:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment Trusts 29.3 9.5 8.6 22.1 178

Mckay Securities Share Discussion Threads

Showing 1151 to 1175 of 1475 messages
Chat Pages: Latest  47  46  45  44  43  42  41  40  39  38  37  36  Older
DateSubjectAuthorDiscuss
31/1/2012
10:11
"Think as insurance" - and therein lies the root cause of the banking collapse 2008. If only people had thought of them as insurance and they had been regulated accordingly.
ursus
31/1/2012
07:36
Equally if interest rates had increased the profits would have been protected. Think as insurance.
flying pig
26/1/2012
12:29
ok, apologies, I am with you - essentially the hedge is telling you how much profit the bank is making in the meantime - thanks for the clarification, i appreciate your better knowledge.
timanglin
26/1/2012
11:14
tiltonboy is right. As the swaps approach expiry, the liability will revert to zero. Think of the liability as a measure of how much they would have saved on their interest bill if they hadn't hedged.
wjccghcc
26/1/2012
10:59
timanglin, An interest rate swap is valued by reference to the rate the loan was taken out, and prevailing rates. If the loan runs for five years, and the swap is in negative territory, providing the swap isn't broken in the intervening period, that negative valuation will revert to nil over the duration.
tiltonboy
26/1/2012
10:45
as always the word 'if' creeps in - a 36p (and possibly increasing) potential hit on hedging is considerable. maybe a more detailed discussion about hedging from other posters and a more detailed statement on hedging in the RNS, would be useful, because my understanding(maybe wrongly) is that if the negative hedging/liability runs to term then this is owed to the banks?
timanglin
26/1/2012
10:36
timanglin - it's my understanding the hedges expire to zero asset/liability if the run to their final date. Dissolving them early incurs a cost. So 'sorting them out' might not be worth the effort. The so-called NAV is that required under IFRS accounting. They also quote a NAV ("NPRA") which removes the hedge feature.
jonwig
26/1/2012
10:30
From the latest RNS: 'reduced from 197 pence to 161 pence mainly on account of the negative movement in the value of the interest rate hedging instruments.' They really need to sort out their hedging before this becomes interesting.
timanglin
22/1/2012
17:40
puku - IFD is the cheapest. At 33p they yield 10.66% and stand at a 30% NAV discount. Research now, then wait for the next IMS (NAV/Divi/etc) to confirm the up-to-date stats. IMS should be due this week. SGRO is a great opportunity; but they rose 10% on Thursday/Friday last week, so I banked a quick turn and will wait/hope for a pullback.
skyship
22/1/2012
16:34
Lord G - it sometimes gets complicated: a REIT can announce a dividend which is not wholly a 'PID' (property income distribution) which has the tax reclaim. There might be an ordinary one included; eg. TCSC in its latest: Proposed final dividend unchanged at 7.34p (2010: 7.34p). To be paid as a Property Income Distribution ('PID') of 6.25p and an ordinary dividend of 1.09p. With MCKS, the latest interim dividend of 2.7p was wholly a PID. I've already got the 2.16p, which is 80% of that. The rest will come in due course. The PID comes from rental income, the ordinary dividend could come from reserves, gains on sale, etc.
jonwig
22/1/2012
15:36
Thanks for that debate guys. I'll put my MCKS in my ISA when funds become available to do the deals. I'll have to buy and sell to transfer them across, but that will be cheaper than losing 20% tax on my dividends.
lord gnome
22/1/2012
14:38
SEGRO is still bombed out, yield nearly 7%. Industrial sheds a bit unfashionable, and euro exposure, of course. TCSC is overlooked - Leeds mainly, Merrion Centre - yield over 7%. Had quite a good recession with no fundraising or divi cut. Lot of retail, hence big discount to NAV. Those are the two I hold (and MCKS) and would recommend. But you need a tax shelter (ISA, SIPP) to get the reclaim.
jonwig
22/1/2012
12:59
very interested in the tax-reclaim scenario for REITs What other companies would anyone recommend ?
puku
19/1/2012
14:15
Looks like the tax reclaim takes varying lengths of time, depending on the nominee: the gap between the previous net dividend payment (4 August) and the tax refund was over six weeks (19 September) on my wife's ISA account.
grahamburn
19/1/2012
12:22
Thanks guys. I will wait and see. The Britsh Land website has exemption forms on its website for 1) Beneficial Owners and 2) Intermediaries. I presume that as the holdings are in a nominee account they need only complete one form.
specuvestor
19/1/2012
09:17
Yes, I hold mine in Selftrade and in August the reclaimed tax came 14 days after the dividend.
stemis
19/1/2012
08:29
Specu - Your ISA provider will reclaim the tax. It normally takes a week or two. This happens with all my ISA-based REIT holdings.
jonwig
19/1/2012
08:25
Just checked on the recent Mackay dividend paid into my Selftrade ISA account. A tax deduction of 20% was applied. I was under the immpression that a) REIT dividends were tax free and b) ISA dividends were tax free. Is this just Selftrade or have other investors noticed this?
specuvestor
06/12/2011
19:35
Good find GB I'm stalking mcks
pillion
05/12/2011
19:31
Brief positive mention in this article on commercial property shares: http://www.fool.co.uk/news/investing/2011/12/02/cherry-picking-some-commercial-property-opportunit.aspx?source=ufwflwlnk0000001
grahamburn
29/11/2011
11:31
A good buying opportunity - so bt back 3k @ 110.66p - the small number I sold @ 117p just after the figures! Thnx Graham - I'm an hour ahead of you here in France, but certainly not a whole day!!
skyship
29/11/2011
11:10
I'm finding it hard to take the drop in the share price prior to going ex-div as a positive sign. It may turn out to be a great missed opportunity but I have decided to err on the side of caution and stay on the sidelines for now. Skyship - what's your take on it?
speedsgh
29/11/2011
11:01
From recent Half Yearly Report... "Details of the programme for the payment of the interim dividend are as follows: Ex-dividend date 30(th) November 2011 Record date 2(nd) December 2011 Interim dividend payment 12(th) January 2012" So you have until the close of play today to qualify for the interim dividend.
speedsgh
29/11/2011
09:47
Tomorrow - 30 November. (Unless you mean at 4.30.01pm today!)
grahamburn
29/11/2011
09:34
XD 2.7p today...
skyship
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