Petrofac Dividends - PFC

Petrofac Dividends - PFC

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Stock Name Stock Symbol Market Stock Type
Petrofac Limited PFC London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-10.80 -6.59% 153.20 16:35:02
Open Price Low Price High Price Close Price Previous Close
167.10 151.10 173.60 153.20 164.00
more quote information »
Industry Sector

Petrofac PFC Dividends History

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

Top Dividend Posts

scooper72: Good idea on a new name. But perhaps that looks a bit dodgy? Wonder what the PFC execs other strategies are on reviving the share price. Such as maybe buying some shares them selves and also I wonder what the plan is to restore the dividend?
wallywoo: The bribery claims first started hitting pfc in 2016. They launched a internal investigation.Then in 2017 the SFO launched their formal investigation into PFC.The share price during that time was between 800 -1000p.This has a long way to go. Hold for the medium term at least IMO.
gersemi: HTTP:// UAE-UK bilateral trade deal dated 24-09-21. Agreement with PFC dated 24 Sep-21. UAE is a decent sized bidding market for PFC. I believe PFC's ban on bidding for UAE contracts will be lifted in the not too distant future
gersemi: I wonder if this news opens the door to new commercial contracts now the slate has been wiped clean? One would think that now such official action against PFC has hopefully come to an end commercial agreements could now be signed off and 'in the pipeline deals' given the green light which I suspect is one of the main reasons for this plea deal now employment and driving economic growth is so high on the political agenda It will be intersting to see how the SFO structure the payment of the fine. Will they demand an immediate, full cash payment to clear the entire fine or will they allow PFC to pay over an extended period of time (plus interest and other associated costs which Quangos use to extract the maximum remuneration. After all, those public sector pensions don't come cheap)? The latter would be welcomed by the market with a glee as this would reduce cashflow stress and remove the possibility of a dilutive rights issue to fund the fine. Moreover, will the SFO impose any other non-monetary demands upon PFC in terms of annual SFO inspections or other forms of internal and external reporting on such issues? Either way, the market likes the news and I bet PFC will become a takeover target n - HTTP:// 'How valuable is a DPA? The key question for companies considering how to react to any suspicions of corruption is whether trying to get a DPA should be its strategic aim. It has been made clear by the SFO, and by the court in the only DPA approved so far, that early and full co-operation with the SFO is the best way to increase the chances of being offered a DPA. This means that early decisions as to self-reporting and co-operation will be critical. But how valuable is a DPA? ICBC Standard Bank entered into the first DPA with the SFO in relation to a charge of failure to prevent bribery. (For further information, see our article). As part of the DPA, ICBC Standard Bank was ordered to pay a total financial penalty of over $30m, comprising $6m in compensation to the government of Tanzania (plus $1.046m in interest); $8.4m in disgorgement of profits, and a fine of $16.8m. The fine and confiscation order was calculated using the same guidance as in the Sweett case and the amounts were determined by the values of the corrupt transactions and factors affecting the culpability of the companies and the seriousness of the offending. ICBC Standard Bank’s fine was reduced by a third, the maximum allowed under a DPA, to reflect its early self-reporting and co-operation with the authorities. This is the same reduction that was afforded to Sweett Group, in return for its guilty plea to the section 7 offence. The fact that ICBC Standard Bank entered a DPA did not reduce its financial exposure compared to a conviction after an early guilty plea. DPAs may include significant and costly compliance obligations for the defendant company, in addition to the financial penalty ordered. Pursuant to its DPA, which has a duration of three years, ICBC Standard Bank is required to: publish a 55 page statement of facts concerning the charges brought, naming the individuals involved in alleged offences co-operate with domestic and overseas law enforcement agencies (including supplying them with relevant evidence), at its own cost and as directed by the SFO, in relation to all matters connected with the conduct described in the statement of facts, and commission an independent report into its current anti-bribery policies and procedures, the scope of which is agreed with the SFO, and implement its advice or recommendations. Such measures could, in fact, make a DPA more costly than a conviction, following an early guilty plea. There is no basis for imposing such conditions when a company has pleaded guilty to a corruption offence: the sentencing guidelines allow for the imposition of financial penalties only.'
leoneobull: Lodgeview. Is it over for pfc, as you suggested, or is pfc going to hit two pounds? Hightlights dangers of shorting
marktime1231: As a former PFC holder who got clobbered by the SFO investigations I wonder if this latest announcement from the board is actionable by shareholders. Four or five years of repeated denials and the board commissioning reports to defend the flimsy idea that PFC and its senior people had never done anything wrong, even as the SFO were nailing convictions on former people, associates and agents. Gutless ostrich behaviour has turned the company in to something about a quarter of its former size and share price. Now admitting guilt and praying for a small fine because anything close to what the SFO could demand would be ruinous. That is your only mitigation. So you knew you were guilty all along and were lying to everyone ... Not much point in suing though is there, what will be left after the SFO set the fine next week? No reason for the SFO to be lenient, from the perspective of those with an interest in justice.
epo001: Clearly the big drag on price is the SFO. Looking at the chart above, the price fell with the market due to Covid and unlike most hasn't recovered. Given there hasn't been much PFC-specific bad news since and that the SFO was priced in in March last year then, failing a financial shock, isn't a bounce to 250ish due sooner or later? (I got 250 by a rough comparison of the oil and gas sector vs PFC since the big fall in 2017, getting back to pre-Covid would take it to 400.) It's all a punt but it seems a reasonable punt at these prices. EDIT, being silly and going back 10 years. If PFC were to maintain its relationship to the oil and gas sector then I would expect the share price to be more like 700. You pays your money, you takes your choice but by any stretch 100p is remarkably cheap. Schroders obviously thought so.
paa65: Agreed. These things can always be read two ways depending on your bias.Either good to see PFC reducing its costs to improve profit and competitiveness, Or PFC in trouble losing money on existing contracts and taking a gamble there won't be a strikeTake your pick
worraps: I hate being in situations where I can't do anything about it. My only option with the PFC saga is to sell all my shares at a considerable loss. Throwing in the towel is not my way of doing things. Neither the SFO or PFC will utter a word on the matter when they are contacted for information. They just plead confidentiality due to the matter being under investigation. There should be some sort of time limit placed on all these bribery investigations, as there is on other crimes. There have been no further charges brought on anyone, and the one and only culprit has pleaded guilty. It is really not right that the SFO have this much power to destroy.
worraps: Bad Robot, how nice it would be if everything you have said is actually PFC. "Judge has dismissed all the trumped-up charges" "Two CID detectives have been suspended after being charged with fabrication of evidence" "Judge even stated he was happy with (PFC's) rehabilitation process and is on the way up"
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