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SNWS Smiths News Plc

-1.00 (-1.64%)
Last Updated: 13:56:43
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Smiths News Plc SNWS London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-1.00 -1.64% 60.00 13:56:43
Open Price Low Price High Price Close Price Previous Close
59.00 59.00 60.00 61.00
more quote information »
Industry Sector

Smiths News SNWS Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 20/6/2024 16:15 by norbert colon covered at 50 mins area.
Posted at 13/6/2024 14:37 by
This is fast changing from a good to an excellent dividend play.
Posted at 29/5/2024 15:49 by stevensupertrader
IMO - this definitely would affect SNWS revenue / income going forward .
This is a hammer blow to SNWS after it has finally managed to reduce debt and start to increase dividends .
Just look at the share price falling in the last couple of days .
Posted at 20/5/2024 13:29 by davebowler
Edison -

In 2023, Smiths News successfully trialled a cardboard and plastic recycling collection service in Birmingham. The service included the collection of unwanted cardboard and plastics at the same time as dropping off the day’s newspaper and magazine delivery. Smiths News now has c 5,000 subscribers, a number that has more than doubled in the last 12 months. We anticipate that the service might be suitable for c 30% of its addressable customer base, and could also be attractive to other adjacent businesses such as betting shops. Smiths has trialled other categories including the distribution of greetings cards in point-of-sale stands, DVDs and books to major retailers and some supermarkets. The product is delivered to Smiths in bulk where it breaks the supply down, picks, packs and handles returns, playing to the company’s core strengths. There are potentially other products and/or customers where this kind of service may offer value to clients, and income and a profit contribution to Smiths News, which could offset the expected decline in the core business. These are being actively explored. info @ The new business streams are potentially significant. Last year, these initiatives generated £0.7m of operating profit. In FY24, the company is anticipating that it will generate a profit contribution of c £2.0m. Ultimately, these new income streams are likely to grow further. It remains to be seen if they can be scaled sufficiently to completely offset the decline of the core business, but so far there is optimism.

Valuation of 90p with upside potential from non-core...

Our discounted cash flow (DCF) valuation remains broadly unchanged at 90p/share (from 89p), representing c 40% upside to the current share price. Smiths News trades on a P/E of 6.2x in FY24e, with a yield of 7.7% and the prospect of special dividends to bolster the yield as debt falls. In our experience, when ‘safe’ dividend yields exceed P/E ratios in absolute terms, it indicates a value opportunity. Although we currently forecast a consistent revenue decline, the early signs of success with the new business initiatives suggest that the associated profit decline may be less than we currently forecast, implying that profit and valuation risks could ultimately be to the upside. The success or otherwise of these new business streams is likely to become clearer in the next two to three years. The low P/E rating might be explained by market expectations of continued revenue declines. Our DCF valuation assumes a 5% pa revenue reduction. A full explanation of our assumptions can be found in our November 2022 update note.
Posted at 02/5/2024 19:20 by nicholasblake
Free cash flow is £25m and dividend will take about £12.5m, so £12.5m a year free for acquisition, special dividends or buy backs!
Posted at 02/5/2024 14:57 by stevensupertrader
The key to every successful business is growth in revenue and increase margin .
In SNWS case is the opposite even with inflation running last year at say averaging 6% , SNWS cannot even maintain previously year revenue , let alone growth. SNWS is currently trying to reduce cost and reduce or eliminate debt which in a short run might gives result to pay higher dividend but in a longer time frame without growth in revenue , this would ends badly as cost will bound to catch up Ie increase due to inflation .
Posted at 02/5/2024 08:47 by davebowler
Canaccord....The current valuation is highly attractive, with a PER of 5.5x, a secure dividend yielding 10% and a FCF yield of 18%. We reiterate our BUY recommendation and increase our TP to 95p (from 85p), based on a cal'24E PER of c.9x, div. yield of c.6% and FCF yield of c.10%, implying 78% upside.
Posted at 23/4/2024 09:42 by stevensupertrader
SNWS Sp is now constrained by dividend and yield . At current share price the yield is 7.6% and SNWS cannot increase dividend due bank facilities agreement. share price won’t go any higher imo
Posted at 14/3/2024 09:42 by davebowler
Canaccord Genuity view Smiths News (SNWS) is the UK’s largest wholesaler of newspapers and magazines, with a c.55% share of a c.£2bn market. After a challenging period in the wake of some mismanaged acquisitions under previous management, the new leadership team has streamlined the Group to focus on the core distribution of magazines and newspapers, which is highly cash generative with good visibility around contracts (74% of current revenues secured until 2029/30). Whilst underlying markets face structural decline given generational and channel shifts in news consumption, management has established a strong track record of cost efficiencies to offset a declining top line and generate robust levels of profitability. In addition, a number of new growth initiatives, including Smiths News Recycle, which utilise and leverage the Group’s existing facilities and capabilities, have the potential to drive future profit growth. Strong FCF generation (c.£20m-£25m p.a.) has seen the Group deleverage rapidly and an upcoming refinancing could see an annual dividend payout cap of £10m removed, paving the way for potentially higher dividend payments. With minimal leverage and the Group forecast to move into a net cash position, we see scope for additional cash returns to shareholders. The current valuation is highly attractive, with a PER of under 5x, a secure dividend yielding 9% and a FCF yield of 21%. We initiate coverage with a BUY recommendation and 85p target price. Secured contracts provide visibility SNWS delivers c.16m newspapers and c.5m magazines each week to c.23k retailers from 35 regional depots across England and Wales. The Group has established strong relationships with all major national and regional publishers. The long-term nature of contracts, along with the dedicated service territories, provide high levels of visibility in terms of revenues and cash flows, as well as allowing the Group to plan its capital allocation strategy clearly. The Group has renewed agreements representing 74% of its current newspaper and magazine revenues through to 2029/30. Cost savings and growth initiatives SNWS has established a solid track record of delivering cost savings to broadly offset the structural decline in revenues. Further cost savings are planned over the coming years to deliver robust levels of profitability. Management has also identified a number of new opportunities which leverage the Group’s existing infrastructure and capabilities and have the potential to drive future profit growth. Smiths News Recycle is the most advanced of these, and offers collection of plastic and cardboard waste on a weekly paid for basis using the Group’s existing delivery runs and recycling facilities. Robust profitability and strong FCF generation Despite a declining topline the Group has delivered robust and stable levels of profitability in recent years. Strong FCF generation has seen the Group deleverage rapidly from 2.0x in FY20 to 0.1x in FY23, and an upcoming refinancing could see a lifting of the current £10m dividend cap, paving the way for potentially higher normal dividend payments based on cover reverting to the previously stated 2x policy. With a strong balance sheet, future FCF generation of c.£25m-£26m pa, limited capex requirements (c.£4m pa) and healthy annual dividends, the Group is set to build a healthy cash balance over the coming years. If management were to target a leverage ratio of 0.5x, we see scope for c.£38m to be returned to shareholders over the next 3 years. Valuation and recommendation SNWS trades on 4.8x Aug’24E PER with a dividend yield of 8.7% and an adj. FCF yield of 21%. We initiate coverage with a BUY recommendation and 85p target price, based on a cal’24E PER of c.8x, div yield of c.5% and FCF yield of c.12%, implying 80% upside.
Posted at 10/1/2024 10:12 by kenmitch

Some investors sell ahead of ex dividend day hoping that the share price will fall by more than the dividend. They can then buy again and the net effect is at a price that beats the dividend yield.

I don’t do it because whether or not the share price falls by more than the dividend on ex dividend day is guesswork. Sometimes that early dividend mark down sees new buying and the share price rises during the day and can end the day above the previous day’s close, even allowing for the dividend being taken out of the share price.

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