Record Dividends - REC

Record Dividends - REC

Best deals to access real time data!
Monthly Subscription
for only
Level 2 Basic
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Record Plc REC London Ordinary Share GB00B28ZPS36 ORD 0.025P
  Price Change Price Change % Stock Price Last Trade
3.80 4.13% 95.80 13:31:35
Open Price Low Price High Price Close Price Previous Close
95.00 93.00 95.80 92.00
more quote information »
Industry Sector

Record REC Dividends History

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

Top Dividend Posts

cockerhoop: hTTps:// The higher base of AUME and more favourable revenue mix prompted house broker Panmure Gordon to push up its earnings per share (EPS) estimates to 2.8p (from 2.6p) and 4.5p (from 3.8p) for the 2020-21 and 2021-22 financial years, respectively. Expect identical payouts, too – a reflection of the board’s policy of paying out almost all post-tax earnings to shareholders as dividends. The board can afford to do so because shareholders’ funds of £25.7m includes cash of £19.3m (9.7p a share) and the business is highly cash-generative. On this basis, Record’s shares are rated on a cash-adjusted forward price/earnings (PE) ratio of 9, and offer a prospective dividend yield of 9 per cent.
cockerhoop: speny, Not all REC AUM are born equal, margins on passive mandates are approx 2.5bps whilst dynamic mandates accrue around 15bps (so 6 time more valuable - worth over $40bn passive). Hence the importance of the recent $8bn dynamic win.
speny: I've recently found myself wrangling over whether to sell or continue holding. With the recent dividend, I'm up just shy of 30% and have to ask myself where will this be in the next 2-3 or 5 years. Looking back at the accounts over the past 5 years, revenue has marginally crept up, although profits have been rather static, yet may edge up. When calculating their revenue compared to AUM roughly £26m into £75B it translates to about 0.035%, so I wonder where revenue growth will come from? Having AUM of £75B is no small potatoes, and I guess doubling that to 150B is no easy task. Due to their business being very specialised and one which is generally behind the scenes, it's extremely difficult for the private investor to build a model on where this is going over the next couple of years. I think this is probably why there are very few posts either here or on lse, it's difficult to know what to discuss in relation to this company. BTW I'm not in any way knocking the company, they just get on and do what they do, but it's not so easy to measure like mining for gold, building houses, selling insurance etc. If anyone would like to comment, please do otherwise it will be back to Zzzzzzz until the next update.......
robsy2: The results look pretty good . They are clearly moving the business forwards though I note the careful wording that makes no specific reference to profitability.It seems clear that they have invested to get the growth so profits will be falling in year end 2021. Also no performance fees. The divi of 2.3p for the year looks safe enough given the reserves they have,so that gives us around 5% which is okish. If they can turn the investment into long term profits, as they expect to do, then the profitability should spike up nicely and the divi also but that is FY22. Analysts expect a divi of 3p for year end 2022 and 3.9p for 2023, with a price target of 60p. seems ok to me.I'm holding and might buy more on weakness.
robsy2: It normally retraces but it may have found a new base around 40p. Who knows. All a bit bonkers here at the moment but this is a good company paying excellent divis and Solid divi payers are thin on the ground right now so i can see the attraction especially now we now have the possibility of real growth in the business. The only nagging doubt i have is that i don't really know if they are actually any good at what they do....
konradpuss: trident5, in the long run it's the results that matter, as you would I am sure agree not some 'yuppie' blogger on a tip sheet 'pumping and dumping'. One hopes that the extra expenses will lead to more clients and growth. If they can pick up another large mandate like the one they picked up a couple of months back plus some performance fees, the share price will repay my/your/our patience. The dividend helps in the interim mind.
thewheeliedealer: Hi all, My mate Peter @Conkers3 and myself did a ‘Twin Petes Investing’ Podcast a few days ago and part of our discussion includes REC. We also chatted about loads of other Stocks and Ideas for research, and the outlook for Markets and as usual a fair bit of educational stuff with regards to Investing which this week included the concept of ‘Badwill’ and a lot on how we seek out ‘under the radar’ stocks. Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want Podcast TPI 34) and you can find it on Soundcloud at the link below. I hope you enjoy it and find it useful, Cheers, WD @wheeliedealer hTTps://
cwa1: First quarter Trading Update... Chief Executive of Record plc, Leslie Hill, commented: "Following a challenging preceding quarter to 31st March linked to the impact of covid-19, Record's AUME increased by 8% in the quarter, including favourable underlying market movements of $3.6 billion. "One of our strategic priorities for the current financial year is to enhance the capabilities of our marketing infrastructure to facilitate our accelerated growth plans. During the quarter, the Group appointed KPG Capital Partners LLC, a US-based third party distributor with broad institutional reach across North America, which will enhance Record's existing distribution capabilities in a key market. "While competition and fee pressure linked to our Passive Hedging products persists, we continue to respond by enhancing our products and service offerings. We have diversified our product range with the launch of a new multi-asset offering, Dynamic Macro Strategy and have made good progress in developing our market-first, innovative Impact/ESG bond offering, although the ultimate timing of any potential launch remains uncertain. "Record continues to illustrate its resilience and to operate effectively through the crisis, maintaining the strong relationships with its high quality, institutional clients by providing the highest levels of service and communication. This is testament to the strong commitment and capability of our people, and gives me confidence that we can succeed in achieving our goal of continued growth that I outlined at our recent full year results."
robsy2: Excellent results. Bonus dividend,turnover up, client numbers up, PBT down a bit, EPS likewise,AUM up, Big net inflows and a renewed sense of purpose about the business. Covid issues aside, REC is showing signs of turning into a growth stock.If they can keep winning buisness as they have been and the markets more or less behave themselves then 2021 will be a good year. Who knows , we might see 50p again. If we did and they keep the divi at 2020 level that is 2.71p inc bonus . then at 50p it would be yielding a cash covered 5.42%. With growth that could get to 6% plus easily enough. I can certainly see 40p plus in the short term. The final dividends alone are worth 1.56, that's a 4% return payable 11 Aug.
masurenguy: A reassuring update 22 April 2020 With more than 90% of assets under management equivalent (AUME) linked to equity and other market levels it was not surprising to see Record’s AUME fall by 9% in the quarter to end March. Positively, flows and client count moved little in the period. For FY20 as a whole AUME was up 2% in dollar terms, inflows were equivalent to 8% of the opening level and the number of clients increased by 11%. The group acts on a purely agency business, and has a sticky institutional client base and a strong net cash position. Q4 AUME falls but flows positive for quarter and year The AUME figure of $58.6bn for end March was down 9% compared with the end of December 2019 (and by 3% in sterling terms to £47.3bn). This was a satisfactory outcome given that nearly all passive and dynamic hedging and some multi-product mandates are linked to underlying equity or other market assets. On client AUME flows, a short-term tactical mandate of $1bn terminated in the period (previously announced). There was an inflow of $1.1bn into passive mandates, which, with other flows, meant a virtually neutral overall position in terms of client flows. The client count was also effectively stable at 72 (73 end December). As would be expected, market moves were substantially negative, knocking $4.5bn off the total while currency movements deducted a further $1.7bn. Record indicates that there has been no change in its dividend policy (cover of at least 1x) and that it expects to maintain payment of its ordinary dividend (full year 2.30p, implying a yield of 3.5% for the final payment alone). Volatility poses challenges but may also help Heightened volatility, reduced liquidity in foreign exchange markets and a move to remote working have presented challenges for currency managers but Record has continued to execute its mandates on behalf of clients without disruption, demonstrating the resilience of its operations. Client engagement during recent weeks has been strong and the market background seems likely to encourage clients and potential clients to maintain or add to risk-management mandates. Valuation Our EPS estimates for FY20 and FY21 are reduced by 3% and 24% respectively, primarily because of lower AUME following market moves. Nevertheless, the shares trade on a calendar year 2020 P/E below the peer average (or broadly in line for FY21). As before, our FY21 estimate does not assume any performance fees.
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210618 12:53:22