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SPT Spirent Communications Plc

192.20
-3.20 (-1.64%)
16 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Spirent Communications Plc SPT London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-3.20 -1.64% 192.20 16:35:11
Open Price Low Price High Price Close Price Previous Close
196.00 193.00 196.20 192.20 195.40
more quote information »
Industry Sector
TECHNOLOGY HARDWARE & EQUIPMENT

Spirent Communications SPT Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
02/08/2023InterimGBP0.021410/08/202311/08/202315/09/2023
07/03/2023FinalGBP0.041216/03/202317/03/202310/05/2023
04/08/2022InterimGBP0.021611/08/202212/08/202216/09/2022
10/03/2022FinalGBP0.033417/03/202218/03/202210/05/2022
05/08/2021InterimGBP0.017212/08/202113/08/202117/09/2021
11/03/2021SpecialGBP0.05395618/03/202119/03/202130/04/2021
11/03/2021FinalGBP0.0278418/03/202119/03/202130/04/2021
06/08/2020InterimGBP0.01669213/08/202014/08/202011/09/2020
05/03/2020FinalGBP0.02712/03/202013/03/202001/05/2020
01/08/2019InterimGBP0.015908/08/201909/08/201906/09/2019
InterimGBP0.015907/08/201909/08/201906/09/2019

Top Dividend Posts

Top Posts
Posted at 28/3/2024 10:55 by wall street trader
do you have to hold til purchase if your shares to get the special dividend ?
Posted at 06/3/2024 13:17 by masurenguy
Spirent takeover deal has a feel of short-termism
The British tech firm is hardly selling up to its bigger US rival Viavi at a stock market high

Sometimes, even a 61.4% premium doesn’t look overly generous. Spirent has just become the latest mid-cap company to join the London market exodus — recommending a 175p-a-share cash takeover from America’s Viavi, worth just over £1bn. You can see why the board, chaired by Sir Bill Thomas, agreed to it. How could they not put that offer to shareholders, even if the premium isn’t quite as good as it looks? The price includes a 2½p special dividend investors were getting anyway. Yet, despite the shares leaping 63% to an above bid 177p, Spirent’s hardly selling up at a stock market high.

Rewind to January last year and the shares were topping 281p. The problem? Last year was one to forget for a group that tests, measures and and analyses kit for telecoms companies, cybersecurity outfits and, lately, the providers of cloud services. Telecoms makes up about 70% of Spirent’s sales, after some rocky trading updates, is last year’s figures: sales down a fifth to $474m, with adjusted operating profits falling 65% to $45.2m. Worse, the board expects a tricky telecoms sector “to last through 2024 and, potentially, into 2025”.

Spirent’s advisers Rothschild and UBS called the deal “fair and reasonable”. And the board’s decision has a logic of sorts. All the same, even after the group’s below consensus half-year figures last August, UBS analysts retained their 244p price target — not cutting to 169p until October. The take-out earnings multiple of 29 times is off 2023’s depressed profits.

Complete article:

US rival eyes Spirent for £1bn takeover
The FTSE 250 technology group has been offered an all-cash deal from Viavi Solutions

Spirent Communications has a takeover target as its board agreed to back a £1bn offer from an American rival. The FTSE 250 technology group said the all-cash offer from Viavi Solutions recognised the underlying value of the business and delivered an attractive outcome for investors. Viavi’s offer at 175p a share represents a 61% premium for the business, and prompted Spirent’s shares to jump by 63.3%, or 68½p, to 177p. Sir Bill Thomas, chairman of Spirent, said the “all-cash offer recognises the underlying value of Spirent”. Viavi is a telecoms business listed on the Nasdaq in New York,and its deal is partly funded with $400m in cash from Silver Lake, a US private equity firm. Spirent said that the combined group could deliver annual cost savings of up to $75m. The announcement said: “[Viavi] anticipates that cost synergies will be achieved through the elimination or reduction of functions and expenses which have historically been related to Spirent’s status as a listed company that will no longer be required due to Spirent ceasing to be a listed company.”

Graham Simpson, at Canaccord Genuity, said the offer was “at the bottom end” of any possible range of bids, and that Viavi was taking advantage of the profit warning issued by Spirent in October. “The offer is not particularly generous and strikes us as opportunistic given Spirent was trading at the 175p offer level 9 months ago, although that was before the October profits warning,” Simpson said.

Complete article:
Posted at 05/3/2024 09:08 by tomboyb
Used to trade SPT 10-15 years ago -

Well done those who bought on lows -
Posted at 05/3/2024 08:18 by wall street trader
Well my £1.03 buy has worked out well but am a little disappointed as this was gonna be a long term hold - so I have to hold out til the actual purchase to get the special dividend ?
Posted at 05/3/2024 08:18 by weaverbeever
How long will this takeand when would we get the 2.5p dividend? Also what's chances of counter offer?
Posted at 05/3/2024 07:19 by masurenguy
RECOMMENDED CASH ACQUISITION of Spirent Communications plc ("Spirent") by Viavi Solutions Acquisitions Limited ("Bidco") to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006

Summary

The boards of Viavi, Bidco, and Spirent are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Spirent by Bidco. It is intended that the Acquisition be effected by means of a scheme of arrangement under Part 26 of the Companies Act (the "Scheme" or "Scheme of Arrangement").

· Under the terms of the Acquisition, each Spirent Shareholder shall be entitled to receive:

175 pence for each Spirent Share held (the "Acquisition Value").

The Acquisition Value comprises, for each Spirent Share:

o 172.5 pence in cash (the "Acquisition Price"); and

o a special dividend of 2.5 pence per Spirent Share, in lieu of any final dividend for the year ended 31 December 2023 (the "Permitted Dividend").

The Acquisition Value represents a premium of approximately:

o 61.4% to the Closing Price per Spirent Share of 108.4 pence on 4 March 2024 (being the last Business Day prior to the publication of this announcement).
Posted at 05/3/2024 07:18 by slopsjon2
Plus 2.5p special dividend, making the offer 175p
Posted at 20/1/2024 19:02 by reddirish
Acquired by whom? It is an industry with few players, so any trade acquisition would fall foul of competition authorities in at least one or two big jurisdictions. Private equity will certainly have had a look, but found a well-managed business with few cost cutting opportunities (and no trade sale exit option) albeit with low debt, so a few years of cash extraction possible. I'm a long term holder, and expect this to remain in my portfolio for some time.As an aside, SPT was my first 10 bagger, when I first bought £5k worth at 5p after the dot com crash and sold out at 50p, kick starting my ISA. Those were the days....
Posted at 16/1/2024 07:29 by masurenguy
Trading Update 2023 - In Line with Revised Expectations

London, UK - 16 January 2024 : Spirent Communications plc ("Spirent", the "Company" or the "Group") (LSE: SPT), the leading provider of automated test and assurance solutions for next-generation devices and networks, today issues the following Trading Update for the financial year ended 31 December 2023, noting all financial results are subject to external audit.

Key highlights

-- Full year results in line with the Board's revised expectations
-- Accelerating our focus on non-telco segments where market dynamics are currently more positive.
-- Organisation restructure to drive efficiencies with no impact to key product road maps.
-- Strong balance sheet and cash flow conversion.

As previously announced, the telecommunications sector was very challenging in 2023. Full year revenue closed at $474 million (2022: $607 million) and we expect to deliver an adjusted operating profit(1) in line with the market consensus(2) .

Whilst we continue to see softness and customer spending delays in the telecommunications sector, we are accelerating our focus on non-telco end markets, and we have seen good growth in order intake for our Positioning business and from Hyperscalers. We also closed a strategic, and significant sized deal with a world leading Financial Services organisation representing a new end market for us. We are building an order pipeline for these end customers.

To optimise our cost base whilst protecting our technology leadership, we are implementing a number of key initiatives:

-- Organisation restructure - from 1 January we are merging our High-Speed Ethernet business with Lifecycle Service Assurance to better support how we sell to our customers' increasing numbers of solutions, including more products from across our portfolio.

-- We have reduced our headcount by circa 8 per cent through the year, including as part of the organisation restructure mentioned above. We have taken a very targeted approach to ensure all key R&D product road maps remain intact.

-- We are reducing our overall office footprint, reflecting a more flexible office working environment post COVID-19.

The initiatives, with an anticipated exceptional restructure cost of circa $15 million have driven cost savings during 2023 and significant savings for 2024 which will more than mitigate cost inflation. The overall payback of the change initiatives is expected to be less than two years.

Financial position

We maintained our strong balance sheet and disciplined investment policy. The Group's cash position closed at $103 million supported by our effective working capital management. $72 million of shares were repurchased during the year. We remain well placed to take advantage of investment opportunities as they arise.

Outlook

We are pleased to have started the new financial year with a growing orderbook. We are well positioned to deliver strategic and operational progress, with growth opportunities in our non-telco end customer markets whilst we continue to invest in our leading technology solutions across our portfolio which will position us well in these markets as and when they recover. Overall, the Group remains well-placed for the year ahead.
Posted at 12/12/2023 08:10 by masurenguy
Spirent struggles are a timing issue

A profit warning from telecoms testing group Spirent Communications (SPT) is a timing issue rather than a fundamental problem, according to Royal London’s Henry Lowson who holds the stock in his £331m Royal London UK Mid Cap Growth fund and has not been rattled by the recent profit warning.

"Spirent Communications issued a profits warning, as some large US telecoms customers delayed capital expenditure due to macro uncertainty. This is a timing issue rather than a fundamental change in their end market. However, as Spirent continue investing significant amounts into research and development, the impact on profits is material.Spirent’s significant net cash balance sheet provides it with the flexibility to maintain headcount and product investment through this period of softness."

Lowson said customers will ‘resume spending in time’ as they need to support the rollout of 5G and fibre network expansion. Spirent shares were trading at 111p on Monday.

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