Smiths News Dividends - SNWS

Smiths News Dividends - SNWS

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Smiths News Plc SNWS London Ordinary Share GB00B17WCR61 ORD 5P
  Price Change Price Change % Stock Price Last Trade
1.30 3.1% 43.30 16:29:45
Open Price Low Price High Price Close Price Previous Close
43.00 42.10 44.60 43.30 42.00
more quote information »
Industry Sector

Smiths News SNWS Dividends History

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

Top Dividend Posts

sphere25: Interesting activity, bizarrely all in the last few minutes: 1.61m gone through SNWS 1.42m gone through LOOK (70p is key resistance there, been stacks of sellers there) 1.05m gone through CAPD Watching to see if any whoppers follow for some potential price action. DRV too, on the back of the ST tip, someone has mopped up 325k @ 53p - irregular All imo DYOR
sphere25: Further to the post last week, SNWS are trading in line and that has been enough to allow the price to breakout with the price currently at 42p. We can clearly observe the difference in technical and fundamental dynamics between shares as we keep a tabs on them. Mentioned SNWS and RCH as the two to keep a tabs on this week, citing that SNWS could break higher with an in line statement, whereas RCH would likely need an ahead statement. It has played out well with RCH breaking out (currently 232p up 5.5%) on a slightly ahead statement. I'm not as convinced RCH breaks out today on an in line statement and it would have taken longer. If we look at how the RCH shares have moved today, they have flat lined until after midday, and with the nature of the larger sellers at work (note 3 x 200k blocks in auction yesterday on the offer at 220p as well as the recent stubborn large sellers trimming), it could have taken more convincing for this break higher to happen. Seen as the upgrade is so early in the year, the market clearly believes further upgrades will follow. Just going to comment abit more on the trading dynamics there because there are still sellers lobbing in size, but observe how the price dynamic is different now. In the recent past, the bid would have got hit down from 222p down to 220p under whereas now it is rising on these large sellers i.e. bigger buyers in size willing to buy through any holders who are trimming as well as some form of cessation on the part of these sellers who have been trimming. Back to SNWS. If SNWS had posted any form of ahead statement, there is no doubt this price shoots toward 45p and then the psychological 50p. Even without that, the market has been happy to bid the price up allowing a breakout, albeit in a more gradual manner as the market gains more confidence in the earnings being hit. Possibly another in line statement come late July for SNWS? The re-rating continues on that imo though could they surprise before that with an unscheduled upside update. This is just an opinion and forming a view based on what is being seen. It could clearly be wrong but so far so good. It is all naturally dependent on wider markets too. There is all kinds of commentary out there on those but I won't bore with that. These posts end up long enough as it is just trying to cover the most apparent of things. I'm sure there are some who hold both shares. Just ignore the RCH bit if you don't. All imo DYOR
marktime1231: Aha ... I had not noticed this until just now, was not aware that dividend caps had been imposed by the terms of the loan. I wonder what this means in terms of dividend payments per share ... "Looking ahead the Company expects to reinstate the payment of regular dividends with a dividend cover of 2.0 times. In the near term total dividend payments will be constrained by the dividend caps included within the current bank facilities of £4m in FY2021 and £6m in each of FY2022 and FY2023." With eps running at 9-10p a long term eg post 2023 dividend of 4.5-5p is below my expectation. A £4M distribution in 2021 equates to a special of 1p in the Autumn and a final dividend of just 0.6p. 2022 and 2023 dividends of just 2.4p? Am I reading that right?
marktime1231: Blast I was sure SNWS would reinstate the dividend, considering we have been patient for so long and an eps of 4.6-5.3p would easily have covered a 1p Interim. Not to be, clearly the pressure from lenders is acute. The board must be content that investor demand will be strong based on value recovery and doesn't need to pander to income hungry private punters. Instead we have the carrot of a special during H2 (not expecting a regular interim to be announced mid term), presumably when the the first £5-6M instalment from the sale of Tuffnells arrives in Sep/Oct. A 1p special would spend about half of that cash. Oh well, my bet that this would become an income banker starting this year has not paid off, and reading between the lines priority through FY23 to be given to paying down debt before resuming regular dividends. I was hoping there would be enough cash flow to keep both investors and lenders happy. The share price does not seem to know how to react yet, even though these results have demonstrated SNWS represents deep value and 40p is a bargain. Maybe it will take a while for the implications to sink in to attract some serious money.
profdoc: Am I right in thinking that Tuffnells will pay £15m in cash in installments over the next two years? If so the debt to EBITDA ratio target comes closer. Therefore, dividends can be raised earlier. A £13m dividend (half of annual EPS)for a £95m MCap company anyone? For at least eight years now the impact of the volume decline in newspaper/magazine sales has been offset by operating cost savings so that annual EBITDA is north of £40m and PAT is north of £20m. And they tell me this is a declining industry - the evidence says not declining in profit terms. At a MCap of £95m I don't mind if slightly fewer newspapers are sell year on year so long at EBITDA is around £40m and PAT over £20m
martin44: A Very Solid set of results with a little jam tomorrow for H2 dividend but the future is looking good with the New Management, cost cutting decisions, pension liability gone and potentially only an upward slant! Although restrictions on the size of dividend payout for the next 2 years there is opportunity for ‘special dividends’ to be paid where excess cash is available! In addition with over £15m available in pension funding now not required there maybe ways to bring some of this down onto the bottom line!
nicholasblake: Market will be looking to see if touted h’penny interim dividend is confirmed.
sphere25: A very quiet week has almost passed with notably less movement. Very much sit on hands time and try not to chase things or trade for the sake of trading. Looking forward to next week with the likes of SNWS set to report half year results on the 5th May. Price is range bound between 38p and 40p. Every time it tries to breakout, sellers in size come in at just above 40p and gradually sell it back down into the range. Could the results next week provide the impetus to carry more weight in allowing the breakout? It's always hard to gauge SNWS because they don't provide that many updates, other companies provide more. Judging by the last statement, it sounds like they will have started off in line with expectations with surely more confidence in the outlook as things gradually normalise. RCH should report a day after SNWS on the 6th May with a shorter AGM update, and seen as both are range bound with interesting narrow ranged charts, they looking interesting and two to keep an eye on next week. Judging by the market moves in RCH, they might need an ahead statement to break higher. SNWS could eventually move higher on a less bullish statement because there are numerous sellers in size in RCH at work (who come in just above 220p at 221-222p and start lobbing in size to keep the price range bound - key marks to watch for a break). Premier Miton, Schroders and M&G have all been trimming at RCH into any demand that comes in for the shares so it essentially just keeps a cap on the price. When you have big players like that making such moves, that suggests the market believes the price is fair as further news is awaited. Naturally, some whopping big volume exchanges to skew the demand and supply balance can cause a price move at any point, but at present all demand for RCH is being absorbed by these larger trimming sellers in RCH so a different dynamic to SNWS, where we aren't seeing as much sizable demand. It is always difficult to try to predict the exact nature of trading updates and price dynamics (sometimes prices can move ahead into an update as sellers pull the offer with the market anticipating good news), but the charts are interesting and beyond ahead statements, any big volume exchanges could be a material bullish signal to the price dynamics in both shares. Looking at the number of updates out next week, it looks another quiet week. Have a good extended bank holiday weekend all. All imo DYOR
marktime1231: It all depends whether "trading in line" and the good progress so far with debt reduction has been sufficient to persuade the board to resume dividends, we will find out when they publish H1s in May. If SNWS are indeed hitting the annual bottom line target of 9-10p eps then, considering net debt reduction already achieved, I am hopeful of a 1p Interim and 2p Final dividend this year. It is a matter of when not if they restore the income stream surely. Major contracts and financing agreements are in place for the medium term so the outlook is predictable. Payments due from the offload of Tuffnells are reliable if we believe that business is now doing Ok on its own. So never mind resistance at 40p this is a 60p share in the making, actually I can see it all the way back to 100p next year if the dividend is fully restored to 6p. Why not? They have decided to stick to their core business now, no investments to make, no downside surprises in the outlook actually the return of air travel will see business pick up, and no real competition. The reason this stock is so remarkably cheap is that the current generation of analysts and thrill-seeking punters are only interested in exciting new small caps with growth promise, whereas SNWS is a boring mid cap in a contracting market ignoring it is one where there is profit and cash flow. People have forgotten to appreciate deep value, the get-rich-slowly stocks which pay the sort of yield you can retire on.
sphere25: This is a follow up to the post on the BYIT board about FTSE reviews and potential nimble trading opportunities. It looks like SNWS (FTSE Fledgling) has experienced a small form of re-weighting with a barrage of AT trades in the afternoon that drove the price from 35p to 38p. If it was an ordinary tip, you would have seen a barrage of "O" trades but that isn't anywhere near the case. Naturally a 25k AT can be an order a multiple of its "O" trade value too so the buying is always more than it appears. It was a smaller version of the PHTM example quoted in that BYIT post, but it is just an example of how opportunities can be spotted in the afternoon's of the Friday before the FTSE Index review changes occur on the following Monday. The movements in the index change constituents were mild this time: - BYIT fell rapidly from 410p to 406p before a monster exchange in auction closing by gapping the opposite way at 414.8p - BCPT started the FTSE250 ejection move earlier intraday with a trend down from 75.4p to near the close of 72.6p but then gapped the same way down to 70.9p in the auction. - LAM had 72p on the offer into the close and gapped to 69.2p in the auction. There will be more notable moves in future and if you can find the index promotions/demotions ahead of time, can clearly benefit more (wider market being stable). Folk can probably see some unusual large auction exchanges in their own holdings and can get worried if the price gaps out the wrong way (why have people sold so many into the close at such a lower price? Is bad news on the way on Monday? A weekend of worrying for some), but it is all normal practice. CLI is the glaring one I can see instantly on my monitors with a whopping 3.586m exchange in the auction at 234p under the bid price into the close of 237.5p. Clearly not the most pronounced example but there will be more for sure. Not sure if anyone who watches SNWS all the time picked this little move but something to note for future when these reviews come about. And that's a wrap. All imo DYOR
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