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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pennon Group Plc | PNN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.40 | -0.28% | 490.20 | 16:35:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 488.00 | 482.80 | 490.60 | 490.20 | 491.60 |
| Industry Sector |
|---|
| GAS WATER & UTILITIES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 27/11/2024 | Interim | GBP | 0.1469 | 30/01/2025 | 31/01/2025 | 04/04/2025 |
| 29/11/2023 | Final | GBP | 0.3033 | 25/07/2024 | 26/07/2024 | 05/09/2024 |
| 01/06/2023 | Interim | GBP | 0.1404 | 25/01/2024 | 26/01/2024 | 05/04/2024 |
| 30/11/2022 | Final | GBP | 0.2977 | 20/07/2023 | 21/07/2023 | 04/09/2023 |
| 31/05/2022 | Interim | GBP | 0.1296 | 26/01/2023 | 27/01/2023 | 05/04/2023 |
| 30/11/2021 | Final | GBP | 0.2683 | 21/07/2022 | 22/07/2022 | 05/09/2022 |
| 30/11/2021 | Interim | GBP | 0.117 | 27/01/2022 | 28/01/2022 | 05/04/2022 |
| 24/11/2020 | Final | GBP | 0.1497 | 22/07/2021 | 23/07/2021 | 02/09/2021 |
| 03/06/2021 | Special | GBP | 3.55 | 05/07/2021 | 02/07/2021 | 16/07/2021 |
| 24/11/2020 | Interim | GBP | 0.0677 | 28/01/2021 | 29/01/2021 | 01/04/2021 |
| 26/11/2019 | Final | GBP | 0.3011 | 23/07/2020 | 24/07/2020 | 02/09/2020 |
| Top Posts |
|---|
Posted at 06/2/2025 17:42 by kinwah Yes 1knocker brokers often refer to it as swallowing your tail especially when directors of the company concerned do it. Sob stories about not having the cash to take up the rights but at least they are swallowing their tail. Haha. I think PNN is alright but I'd like to try and buy more as close to the bottom as possible. |
Posted at 05/2/2025 14:35 by kinwah 1knocker, let me correct you. If the some of the rights shares are not taken up but the share price remains well above 264p then the underwriters are not involved, it is the company itself which organises a placing of what is called the 'rump'. The rump is placed with friendly institutions at maybe 10p below the market price to ensure keen take up. Should China invade Taiwan or something else to shock world markets and the PNN price drops below 264p then the underwriters will be called to take up the shares not subscribed for. The broker then organises a placing for the underwriters who don't want to hold their shares. This is a placing of the 'stick', i.e. the shares left with the underwriters. My advice for PNN shareholders is that PNN is attractive on a medium term basis but I'd expect the shares to drift now until the rights payment is due as people try and raise money to take up the rights. The National Grid rights issue being a similar heavy rights issue is a good guide. I sold all my PNN in my trading account cum-rights as there were short positions being closed which had pushed the price up. My long term holding I also reduced sharply cum-rights but will take up my rights and look to buy more especially if the price falls ahead of the last day of trading in the new shares. The lowest price PNN reaches is likely to be when the rump is placed. We little shareholders can't access the rump placing but the day it happens or sometimes the day after can be the best time for us to pick up cheap shares as traders take a turn on the rump shares they acquire. If I held a small amount of PNN today and was unsure what to do and didn't want to invest extra cash then I might sell enough old PNN shares now and use the money to take up the rights in full. It's a well-worn strategy but not a bad one nonetheless. Good luck all! |
Posted at 04/2/2025 13:55 by 1knocker Some people will not take up all /any of their rights and they will be sold in the market by the underwriters, others will take them up and subsequently sell some or all of them. So there will be plenty of shares sold in market after the issue completes. That will probably cause the price to dip a bit initially, with the price settling down within a couple of weeks.The best indication of the likely post rights price is probably the current (ex div and ex rights) price of the shares currently in issue. A rough indication of what you can expect to get if you allow the rights to lapse is a penyn or two below the current price of the shares in issue less the price payable to take up the rights. All these prices (except the rights exercise price which is fixed) will probably fluctuate quite a bit over the next few days as the market does its arithmetic, especialy as regards the proposed post rights dividend regime. |
Posted at 30/1/2025 18:18 by neilyb675 The Rights Issue Price represents a discount of 47.3% to the Closing Price of 500.81 pence per Existing Ordinary Share on 28 January 2025 (being the last Business Day before the announcement of the terms of the Rights Issue), adjusted for the 2024 Interim Dividend of 14.69 pence per Existing Ordinary Share which will not be payable on the New Ordinary Shares, and a discount of 35.2% to the theoretical ex-rights price of 407.52 pence per Existing Ordinary Share, by reference to the Closing Price on the same date and adjusted on the same basis. Upon completion of the Rights Issue, the New Ordinary Shares will represent approximately 39.4% of the Company’s enlarged issued ordinary share capital (excluding any shares held in treasury) following the Rights Issue.The Rights Issue Price has been set, following discussions with major Shareholders, at the level which the Board considers necessary to ensure the success of the Rights Issue, taking into account the aggregate proceeds to be raised. The Board believes that the Rights Issue Price, and the discount which it represents, is appropriate. |
Posted at 29/1/2025 09:28 by pierre oreilly Just sold all mine at 5.19.No use waiting for divi since that will be another 14p off tomorrow. Can't think what will be knocked off when it goes xr on 3rd feb. And then the slow drag back to the rights price over the coming weeks to 264p (that's what usually happens ime). Divi will be cut yet again of course. |
Posted at 27/11/2024 09:44 by julianlau Pennon Group's H1 2024/25 results met expectations but revealed challenges, including a £38.8m loss before tax, driven by costs for water quality interventions (£16m) and restructuring (£4m). South West Water saw lower revenues due to demand initiatives, while the recently acquired Sutton and East Surrey Group incurred anticipated losses. In contrast, profitable B2B operations and increased capital expenditure (+£65.5m YoY) supported operational improvements.The group maintains a robust financial position with 68% gearing, £675m liquidity, a strong credit rating, and a solid 10.8% return on regulated equity for SWW. An interim dividend of 14.69p aligns with its CPIH +2% policy. While challenges remain, steady investment and a strong financial foundation signal long-term stability. hxxps://wealthoracle |
Posted at 03/7/2024 15:57 by essentialinvestor If you add the £1.4 bn special dividend on to the current market cap - it's still £700 million Below the net cash received for Virdor.The £500 Million share buy back was arguably completely waisted. The current dividend is unsustainable imv and net debt is rapidly heading for £4 bn. To describe this as a sh1tshow is still being kind. Add in inflation and it's significantly worse still. |
Posted at 02/7/2024 18:33 by essentialinvestor net, do you see the current dividend policy as sustainable and take a look at their increasing net debt.Trading stock only is my take. |
Posted at 24/5/2024 14:32 by randomwalker My next door neighbour was at a meeting of Kingswear Council 2 days ago. The representative of SWW was there along with a hostile crowd of residents. My neighbour was there about something else, but stayed throughout the SWW chap as he was interested (and also initially hostile, having got his information from the media)Turns out that the entrance of the parasite into the water was not SWW's fault at all. It was caused by someone (probably the farmer on whose land the valve was) damaging the valve. It is private land, so SWW had to get permission to enter it to check. This took time. They did not say the source of the cryptosporidium was NOT the water supply, only that it was very unlikely. There are 6000-7000 cases in the UK each year and hardly any are due to the water supply. When it was proved that the source of the Hillhead crypto was the water tank there, SWW took immediate action. Boil water notices and distribution of bottles to residents especially disabled/old ones. That still applies to people fed by the Hillhead and Boohay tanks (which includes Kingswear) The SWW chap was asked how many valves are there on private land & why wasn't it checked? The answer was "many thousands" and they have to get permission for each check.However, the landowners have a duty to report damage.....which did not happen. The farm is insured. I do not work for PNN/SWW, nor do any of my family.....and I was annoyed by the whole thing. However, I have just bought PNN shares! |
Posted at 23/5/2024 11:49 by 1knocker I have had the last of my Pennon holding on the 'sell' list for some time. Water companies (like the rest of us) will have a pretty thin time under Labour.Unfortunately, I hung on to take a final dividend before exiting. The announcement of an early election, and the NG rights issue and 'rebasing' [aka reducing] of its dividend have knocked the utility sector for 6. |
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