Springfield Properties Dividends - SPR

Springfield Properties Dividends - SPR

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Stock Name Stock Symbol Market Stock Type
Springfield Properties Plc SPR London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 147.50 08:00:00
Open Price Low Price High Price Close Price Previous Close
147.50 147.50 147.50 147.50 147.50
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Industry Sector

Springfield Properties SPR Dividends History

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

Top Dividend Posts

aldriglikvid: The latest investor meeting is available here (video): hxxps://www.progressive-research.com/events/ and here (PDF) hxxps://wp-perl-2020.s3.eu-west-2.amazonaws.com/media/2021/09/27154115/SPR-Progressive-Mello-Presentation.pdf
tole: https://www.fool.co.uk/investing/2021/09/21/3-cheap-stocks-to-buy-with-3000/Another bargain UK shareSpringfield Properties is another cheap stock I have my eye on today. Not only does the Scottish housebuilder trade on a low price-to-earnings (P/E) ratio of 10 times for the current fiscal year, its forward dividend yield sits at a chubby 4%.Recent GDP numbers suggest the British economic recovery's cooling sharply. This is a worry for Springfield Properties as it could affect home sales in the short-to-medium term. That said, Rightmove's latest study showing average property prices rise 0.3% in September has soothed my own concerns somewhat. It shows that housing demand continues to outstrip supply in the UK. It's a phenomenon I expect to live on too as interest rates will likely remain below historical norms.
tole: https://masterinvestor.co.uk/equities/small-cap-round-up-featuring-kape-technologies-sthree-and-mp-evans/Springfield Properties (LON:SPR) – 200p is a good price at which to aimThe year to end May, for this leading Scottish housebuilding group, reported a 51% improvement in sales to £216.7m and an impressive 81.4% increase in pre-tax profits at £18.5m. Earnings came out at 14.41p, up 73%, and the dividend was raised 187.5% to 5.75p per share.This is a cracking set of figures that reflected the group's strong build and sales activity throughout the year, with high demand having been experienced across the business resulting in significant growth in revenue in private and affordable housing.Analyst Alastair Stewart at Progressive Equity Research sees the group's revenues rising gradually over the next three years to £283.1m by end May 2024, and profits rising to £25.2m in the same period. That would be worth 18.7p per share in earnings.Such quality growth will see the shares continue to rise in price, with 200p being an easy objective.They closed last night at 151p, offering a very good upside potential.
dros1: GN100 other builders have not done better, checks on Google finance SPR against Barratt , Taylor and Persimmon for last 6 moths, SPR was the best not by much but still better than these builders
gn100: And then the CEO and his wife sell 30,000 shares https://www.londonstockexchange.com/news-article/SPR/director-shareholding/15134741
gn100: Here:- https://www.londonstockexchange.com/news-article/SPR/final-results-and-publication-of-annual-report/15133552
spob: Springfield smashes earnings forecasts Buoyant private housing demand and land sales to two national housebuilders. Profits for 2020/21 financial year to be materially above market expectations. A pre-close trading update from Springfield Properties (SPR: 168p), a housebuilder focused on developing a mix of private and affordable housing in Scotland, highlights why I selected the shares, at 135.6p, in my 2021 Bargain Shares Portfolio. A strong rebound in build and sales activity in the first half of the 2020/21 financial has continued into the second half (to 31 May 2021), so much so that both revenue and profit from Springfield’s private housebuilding activities will exceed prior guidance that was already factoring in a material step change in profits. True, the Scottish housing market is in rude health, as is the case with most regions in the UK, but Springfield is also attracting home buyers because its mid-sized Village community developments are close to fast-growing cities (Dundee, Perth, Stirling, Livingston and Elgin) and offer more spacious homes with gardens and green spaces. A lower entry price makes them highly affordable, too. In addition, Springfield has sold 200 plots to two major housebuilders across its Central Belt developments, a further indication of the strength of Scotland’s housing market. Analyst Alastair Stewart of Progressive Equity Research has taken note, upgrading full-year pre-tax profit and earnings per share (EPS) estimates by almost 20 per cent to £18m and 14.7p, respectively, implying close to 80 per cent profit growth on 38 per cent higher revenue of £199m. The upgrade is split roughly 50:50 between the private housing division and land sales. Stewart has also slashed his net debt forecast from £42.5m to £25.2m, representing a 63 per cent year-on-year reduction, adding weight to forecasts which point to a hike in the annual dividend from 2p to 4.5p a share when the group releases results next month. On this basis, the shares are rated on 11.5 times earnings for the year just ended and offer a dividend yield of 2.6 per cent, a rating that fails to factor in the strong likelihood of Springfield realising further value from its high-quality land bank. It is conservatively valued, too, as land and work in progress is in the books at £155m, or less than £10,000 per plot. Moreover, the 15,000-plot land bank equates to 20 years output, so underpinning another step change in pre-tax profits and net asset value (NAV) in the coming years as the hidden value in the land bank is released. Progressive Equity is factoring 33 per cent higher pre-tax profit of £23.9m in the 2022/23 financial year, and a closing NAV of 132p a share, implying the shares are rated on a lowly prospective price/earnings (PE) ratio of nine and 1.3 times NAV estimates. A triple top chart break-out of the 165p to 170p resistance level looks on the cards and would set up a share price move to my upgraded 220p target price. Buy.
dros1: Simon Thompson ftom IC Interim results from Springfield Properties (SPR:155p), a housebuilder focused on developing a mix of private and affordable housing in Scotland, highlight why I included the shares in my 2021 Bargain Shares Portfolio. First half pre-tax profit surged 42 per cent on revenue up 18 per cent to £94m and net debt has more than halved to £33.2m since the 30 May 2020 financial year-end. Chief executive Innes Smith says that Springfield is in “as good as a position as we have ever been.” In fact, the company is trading ahead of Progressive Equity Research’s full-year forecasts which point to revenue rising 23 per cent to £178m to deliver 48 per cent higher pre-tax profits of £15.1m and EPS of 12.3p. On this basis, expect a full-year dividend per share of 4.5p, a pay-out that is well covered by forecast free cash flow of 30p a share. The housing market backdrop remains very positive. Demand for housing in Scotland continues to outstrip supply with R.I.C.S. reporting 8.6 per cent annual house price growth in the 12 months to 30 November 2020. Mortgage availability remains good and with interest rates on the floor, Springfield’s lower entry price homes remain affordable for first time buyers who can even tap a £25,000 interest free equity loan from the Scottish Government’s First Home Fund. In the first half, 311 private sales completed at an average selling price of £239,000 and 132 affordable homes at £148,000 per unit. Also, the Scottish Government have committed £787m to affordable housing delivery in the next fiscal year. Even the Covid-19 pandemic is playing into Springfield’s hands as more home purchasers are looking for the type of affordable housing in green spaces that Springfield provides. It’s worth noting that the company has entered a strategic partnership with private rental sector (PRS) housing specialist Sigma Capital Group (SGM) to provide 75 PRS homes at Springfield’s Bertha Park Village scheme near Perth. Springfield has three active Village schemes (7,000 homes) under development and a further two schemes which have potential to deliver 5,542 homes (Livingston and Stirling). There is obvious scope to scale up the partnership with Sigma. The company’s share price has risen by over 10 per cent since I suggested buying and it’s reasonable to expect the re-rating to continue. A forward PE ratio of 10 for the 2021/22 financial year still represents a 13 per cent discount to listed peers even though the company could easily outperform the 26 per cent growth embedded in analysts’ 2021/22 EPS forecasts. Worth noting too that £1m of the forecast £4.5m growth in pre-tax profit in the 2021/22 financial year is covered by annualised costs savings made in the current year, and long lead times (six to nine months) on home sales offers strong revenue visibility to support forecasts. There is even hidden value in the company’s balance sheet. Springfield’s 15,029-plot land bank has a gross development value of £3.1bn and stretches out 15 years at current build rates, but land and work in progress is carried in the accounts at only £155m. The reported price-to-book value of 1.5 times is far closer to parity if land is marked to market value. Buy.
alan@bj: Ex-dividend tomorrow though.
gn100: That was a nasty trick releasing the placing news at 1519 on a Friday. What happened to releasing market sensitive info out of hours? https://www.londonstockexchange.com/stock/SPR/springfield-properties-plc/company-page
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