Nmcn Dividends - NMCN

Nmcn Dividends - NMCN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Nmcn Plc NMCN London Ordinary Share GB0006452857 ORD 10P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 250.00 08:00:22
Open Price Low Price High Price Close Price Previous Close
250.00 250.00 260.00 250.00 250.00
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Industry Sector

Nmcn NMCN 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: https://www.constructionenquirer.com/2021/04/15/nmcn-says-sorry-to-suppliers-over-late-payments/ Very sad to see this
jwball: It doesn't look good. Someone erected a large banner outside head office stating "NMCN DO NOT PAY THEIR SUBCONTRACTORS" seems like the 12.5 million overdraft hasn't even touched the sides.
cc2014: The rise in share price shortly after the news it has found another £5m of losses is irrational. We are left with two thoughts: 1. someone knows something as suggested by Kinwah. Only the buyers aren't the directors so that makes me cautious over that. 2. it's just people chucking money at the market and looking for anything that has pulled back as a bargain. If the economy picks up that will help NMCN and everyone else for sure. It's my view buying this share is taking a bit of a punt. I used to be very optimistic about it's future as the water work was it's largest part and although the margin on it was low, they were steadily expanding and never had a problem job. Until last year which now makes me wonder about their ability to manage anything and everything. Who knows. Good luck to all holders.
kinwah: Squeamish one would think a rights issue/placing was about to happen if nmcn was a normal company but it isn't. It is still family controlled and the family hasn't got the money to take up a rights issue. Therefore alternative scenarios which don't need an injection of non-existent family money are more likely. If I had to guess - possibilities include a merger, an injection of venture capital money, a takeover, a sale of the water business, going private with venture capital money. Looking at the disastrous financial performance it is at odds with the rise in the share price so somebody must think they know something!
squeamish1: Retained earnings of £18m at YE 2019. Loss of £16.5m in 2020. So essentially this company has never been profitable, and previous reported profits were lies. Apparently shareholders just have to hope that it will be genuinely profitable in the future, and maybe get a dividend in 2022 for their troubles. I wait with electric anticipation for the announcement that they'll be clawing back the £5.2m performance pay given to the board in 2018 and 2019. Clearly, the performance was make-believe, but the bonuses were real.
kinwah: Possibly Pugugly but I wouldn't take the parallels with Van Elle too far. Nmcn has maybe 10 water company customers compared to hundreds of customers for piling services. The risks of building a water treatment plant are different from stabilising dodgy ground. Homer as incoming chief executive surely would have been involved in all day to day matters even if the chairman had stood back a little despite remaining executive. Homer had 30 years experience with competitors in the industry so it wasn't like John Lewis's CEO appointment of a complete industry outsider. Will there be further bad news? I hope not but Covid may cause further problems. My own feeling is that the problems at nmcn are a microcosm of the whole contracting industry and that Boris's plans for big infrastructure spending are set on very shaky foundations.
tabhair: https://www.londonstockexchange.com/news-article/NMCN/external-auditor-appointment/14702610 "nmcn Plc ("the Company") announces that following a competitive audit tender process conducted in compliance with EU Audit Regulations and best practice guidelines, it has appointed Ernst & Young LLP as its external auditor with immediate effect, following BDO LLP's resignation as external auditor to nmcn Plc with effect from 30 July 2020. In accordance with s.520 of the Companies Act 2006, the Company has sent a letter to its Shareholders providing them with a copy of the requisite statement from BDO LLP confirming that there are no reasons or matters connected with their ceasing to hold office as Auditor which they consider should be brought to the attention of members or creditors of the Company." You have to laugh. Auditor gives NMCN a clean bill of health before resigning, just a few months later it turns out the books are a complete mess. The whole sector is uninventable. If you run a company and don't take a risk in under-bidding on a contract, then someone else will do it. A race to the bottom where the shareholders end up suffering worst. I suspect there is more bad news to come here. New management are just in place and if they are discovering bodies buried under the floor this early, there's likely more bad news to come.
battlebus2: Best paid!!! No more information was given about the departure with the statement adding that “the group may incur losses this year”. The move comes as the contractor, formerly known as North Midland Construction, also searches for a new chief finance officer, after the departure of Dan Taylor was announced in July. Homer and Taylor were among the best-paid construction plc executives, a study by CN found last year, in fifth and 18th place respectively. Last month Homer, who worked for Bam Construct, Galliford Try and then Morgan Sindall before taking over NMCN in 2016, defended the firm’s payment of a dividend, despite making use of government support schemes. NMCN revenue in 2019 stood at £404.7m, making it the 42nd largest contractor in the UK as measured by the CN100.
igoe104: nmcn division wins contract worth almost £4m A division of Nottinghamshire-headquartered nmcn has revealed a contract win of almost £4m in Lincolnshire https://tinyurl.com/ya54jsff
cc2014: Good morning. I am somewhat disappointed with the share price reaction this morning as I write. I guess this probably reflects the general state of the markets at the moment. All the metrics are looking good. Revenue and profits rising strongly, huge amounts of cash at £26m with no debt and no pension fund deficit and some of the excess cash being used to fund their move into housing where we know margins are much better. I am more than pleased with the dividend increase. 9p for the half year and 12p last year for the final. It's hard to say how much they will raise the final but 15p seems not unreasonable and conservative too. 24p dividend at a price of 555p a shares gives a dividend yield of 4.3%. That's about right for me. I don't like to see companies paying out too much in dividends as I'd rather see them investing in their future which is what NMCN are doing particuarly in their people, their brand and how they target work on long term frameworks. The company once again mentions a potential slowdown in water as the AMP frameworks cross over. This is one of the things that frustrates me about this country. The water companies are obliged to spend the money over the AMP investment cycle, yet do not sufficiently plan such that this happens smoothly. The work will get done regardless as the water companies have agreed their investment plans over the cycle with the regulator so why mess around? Perhaps the unfortunate situation at Whaley Bridge shows the costs of not spending investment capital at the eariest opportunity. Nothing I write on this will make any difference though. We've had this delay at previous AMP handovers and NMCN plan for it notwithstanding how frustrating that must be. As usual not much for me to do but sit back and wait. The order book is up again and the Board commit to an increased margin for the second half of the year. That half billion turnover is starting to look not so far away now as well. I'm not so pleased with the share price reaction but I am pleased with the results. I am in the fortunate position of being able to be patient and in the long term improving EPS, NAV and dividend yield will force the share price up.
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