Redrow Share Discussion Threads

[r ball] 22/3/2019 08:07

Over reaction to PSN news..HTB extended..?

[mrhazza29] 21/3/2019 21:59

So is this basically a share buyback? Also in what circumstances? The 30p return is benefiting the company more than the shareholder. I want Redrow to prosper and grow as I am a part owner, all be it a small one.

[sharw] 21/3/2019 19:43

Share consolidation is a standard practice in these circumstances and I have seen it done in many companies. One of the reasons is to provide share comparability before and after (particularly price). Another is to make sure that it is a return of capital for tax purposes. Effectively for every 21 shares you hold the company are redeeming one for 630p.

[mrhazza29] 21/3/2019 17:48

Can someone please explain what the point of this share consolidation is please? I understand the 30p payment will cover any shares lost under the 20 for 21 shares, so where are the shareholders getting any benefit? Also how does the company benefit from this reorganisation? Are they reducing the number of shares so the total amount of the next dividend payout is lower? I like Redrow, they are a good solid company that pays a good dividend, I just want to understand this better.

[haroldthegreat] 16/3/2019 06:54

Which tax year does it fall in ?

[mrx001] 07/3/2019 14:28

Phoned up about the 30p cash return and it is not linked to the interim dividend and is dependant upon a vote prior to payment. HTH.

[robertball] 04/3/2019 21:08

Yes. Don't worry. The share price will adjust for the b class. Ie share price will stay roughly the same but you will have less shares (a kind of ex doc). It'll all balance out....

[sharw] 04/3/2019 12:45

Will all shareholders receive the additional 30p?

Slide 7 says "All shareholders participate equally" which is clear enough to me.

As for the date, the timetable for the ordinary dividend has been set - pay 9th April - whereas the return of capital has not - it just says "If approved, payment to be made in April 2019" so I take it that there will be another announcement giving the timetable for that. It is not as simple as a dividend - it will be 'for every x shares you will receive y new shares plus x B shares which will be redeemed for 30p each'. So it will be an ex entitlement date rather than xd.

[jezwatson] 04/3/2019 09:28

Hi Sharw,

I'm afraid the slides on the website do not answer my question. They simply reflect the confusing wording of their Interim Results statement. My question is 'Will all shareholders receive the additional 30p? If so, what is the qualifying registration date? Is it the same as the Ex-Div date for the 10p Interim Dividend (7th March 2019)? 'Any explanation would be much appreciated.

[sharw] 03/3/2019 19:24

If you go to the company website and look at the slides for the recent presentation you will find all that you need.

(Note - the scheme will also involve a share consolidation).

[jezwatson] 02/3/2019 10:12

I am rather confused by the proposed return of 30p under a "B Share Scheme" Can anybody help? Will all shareholders receive the additional 30p? If so, what is the qualifying registration date? Is it the same as the Ex-Div date for the 10p Interim Dividend (7th March 2019)? Any explanation would be much appreciated.

[robertball] 01/3/2019 12:56

Rdw one of the better ones. PSN is a tarnished brand due to ex CEO

[dr_smith] 01/3/2019 12:31

Up to 638 earlier, now 631, 52 week hgh 651.5.
Nice going.
I see bdev were at 606 earlier, their 52 week high, other builders 12% or more off, don't know why some are doing better than others.
IMO sectors gains all justified, it's just coming back from Brexit suppression.

[r ball] 26/2/2019 12:26

H2B news /rumour? decision due this week I believe...

[aimingupward2] 26/2/2019 12:10

If we hold on to this break through £6 we could reasonably expect to see a second leg up from just below £5 to an ath of about £6.8.

[vantare7] 14/2/2019 14:33

looks like we are heading for 20p drop at close

[vantare7] 14/2/2019 14:17

yes that's my trade it was in the large trades and I was looking in the latest trades

[sharw] 14/2/2019 14:06

1000 @ 570.19 @ 13 04 ?

[vantare7] 14/2/2019 13:40

and my purchase of 1000 shares has not appeared anywhere yet

[vantare7] 14/2/2019 13:36

on low volume and a big drop in the share price looks a bit like short activity

[dr_smith] 14/2/2019 11:39

Oddly down 2.12%, not ex-div.

[willie99] 10/2/2019 17:35

Half page article in the Sunday times about Steve Morgan and Redrow. Very positive on the calibre of his replacement, Mr Tuttle.

[willie99] 10/2/2019 17:35

Half page article in the Sunday times about Steve Morgan and Redrow. Very positive on the calibre of his replacement, Mr Tuttle.