Petrofac Share Discussion Threads

[mattcookson] 25/4/2018 19:40

Wider market is down at the moment, so we will resume going VERTICAL as soon as FTSE & Dow Jones recover over the next 2-3 days. Dow seems to be recovering as I write, currently up .12%. Now is the Perfect time to get in at this barging price, same time next year this beauty will be well over £10, watch the space ;). Onwards and upwards! Also, TU coming up on 22/05.

[mattcookson] 25/4/2018 19:35

More good news for PFC, Debt is going down, see article below. Dow Jones seems to be recovering now as well. Tomorrow’s ex-divi date might have a slight have slight impact on share price tomorrow (good time to top up :)), otherwise we will continue going vertical over the coming days/weeks. TU coming up in months time as well, could easily smash 700 by then.

PETROFAC SELLS OFF DEEP-WATER PROJECT TO PAY DOWN DEBT

(WebFG News) - 24/04, Petrofac has sold the rights to the JSD6000 deepwater installation vessel to Shanghai Zhenhua Heavy Industries for a net $167m.
Petrofac, which said it would use proceeds from the sale to reduce gross debt, had taken an impairment charge of $176m in its results for the year to March after deciding to exit the deep-water market.

While the gross consideration for the deal is $190m, plus a 10% interest in a new special purpose vehicle set up to own the vessel once commissioned, offsetting the total price is $23m owed under a previous hull and marine contract with ZPMC.

The remaining $167m net cash consideration will be paid in stages, with $92m due within 20 business days, another $70m staged as assets are physically transferred between mid-2018 to early 2019, and a final amount of $5m upon commissioning of the vessel.

Petrofac said it will provide technical support for the construction of the vessel, which is expected to complete in 2022, though it will not contribute to the cost of construction, commissioning or testing of the vessel.

Chief executive Ayman Asfari said: "This agreement materially completes our disposal of the project, in line with our stated intention to exit the deep-water market. It is a further positive step in the execution of our stated strategy to focus on our core strengths, deliver organic growth and reduce capital intensity."

[ny boy] 25/4/2018 16:01

Could be some profit takers cashing in, ahead of ex divi tomorrow...after a nice run up from 400p?

[garycook] 25/4/2018 13:22

Maybe the Market down 0.8%,and Oil down 3% overnight !

[notimpressed] 25/4/2018 13:12

normally share price has a nice little uptick pre ex divi day. odd it
isn't moving much

[naithani] 25/4/2018 12:17

Div is 18P I think.....so drop will be 3%

[fizzypop] 25/4/2018 12:08

Petrofac Ex-Dividend Dates

Upcoming PFC Ex-Dividend Dates
EPIC Name Market Share Price Dividend Div Impact Declaration Date Ex-Dividend Date Payment Date
PFC Petrofac FTSE 250 610p $0.253 2.97% 01-Mar-18View Dividend Announcement 26-Apr-18 25-May-18

From:
hxxps://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=pfc

div 18p in sterling at current ex rate.

[stefanoromano65] 25/4/2018 12:00

Why just 2%?
Dividend is 0.27, which means 27/600 is 4.5%... do I'm wrong?

[fishking1] 25/4/2018 10:26

Exdivi date tomorrow about 2% drop expected.

[matrix25] 25/4/2018 08:49

Shorts reduced to 6.31% now from 6.41%. Every little helps. :o)
Bwana.

[cybernest53] 24/4/2018 16:10

Bouleversee... You are quite correct, that's how it is. Plus this dip is a very good opportunity to buy a few more (as I have done today) or for those who may have been hovering and wishing they had got in earlier, to do so today.... and benefit from the divvie. PFC has a lot of upside to come. The RNS today, reducing debt is good news... and more to come! GLA!

[bouleversee] 24/4/2018 15:46

TOndo -

I have just checked with my on-line broker and they confirmed that if I buy shares through them the day before they go x-d, they will claim the dividend back from the seller and I will get it.

[dubian99] 24/4/2018 15:21

Poo up again

[d1nga] 24/4/2018 14:54

who knows ? its had a good run , shorters increasing their positions , people getting twitchy , oil maybe due a pullback

take your pick , or a combination of all of the above

[t0ndo] 24/4/2018 14:51

hi Bouleversee /all.

Where I was coming from was that most trading platforms will be T-2 minimum?, meaning that a sale executed today would take 2 days to become effective / official in terms of the register i.e. a sale of stock today on a T-2 basis would be settled on the 26th (ex-divi day for PFC), thus ensuring the seller, even though 'pulling the trigger' prior to the run up to ex-divi date, captures the divi (as their sell would be effective as of the ex-divi date (26th), and is still selling into a strong share price, which was the case earlier on today with PFC.
Just a theory...
That said, PFC has been on a great run lately, so profit taking by some is inevitable I suppose, and I feel many are concerned it will run out of steam and wish to lock in recent gains. That's fair enough, but personally I think there's more to come for patient holders, and I for one, will be doing just that.
GLA all holders

[bouleversee] 24/4/2018 14:39

Anyway, so why are people selling rather than buying today?

[bouleversee] 24/4/2018 14:37

Thanks, Dinga. That was my understanding. However, I have had divs. sent to me for certificated shares I had gifted to grandchildren close to x-d date and have reimbursed the grandchildren. To receive the div. directly, you have to be on the register before the x-d date. I am pretty sure that when shares are held in nominee accts. they sort it out so you do get it if you buy the day before x-d but I will double check that I do.

[d1nga] 24/4/2018 13:54

Buy it today or tomorrow and you qualify for the divi

[bouleversee] 24/4/2018 13:48

tOndo -

Really? I didn't know that. I appreciate that it might need to be forwarded and you might have to claim it but I was under the impression that if bought the day before x-d date you would get it eventually. I must check what happens with ones where I did that recently.

[bouleversee] 24/4/2018 13:44

Why the price drop? I can't think many people would want to sell shortly before x-d date.

[t0ndo] 24/4/2018 13:43

ex-divi 26th as I understand it? However, you need to own the stock 2 days prior to that to receive the divi,so maybe the drop is simply holders cashing in at first chance?

[foot in mouth] 24/4/2018 13:34

The next Petrofac Ltd. dividend

Status:Declared

Frequency:Semiannually

Type:Final

Ex-Div Date:26 April 2018

Pay Date:25 May 2018

[delspirido] 24/4/2018 13:15

Ex div day innit

[paa65] 24/4/2018 12:48

Quiet here today.Is everyone over at SHP instead?