St. James's Place Share Discussion Threads

[dexdringle] 03/6/2020 17:36

Sold my entire holding today. Feels a bit toppy back at nearly £10 so feel a downward movement more likely than an upward one from here....

Still holding AFH but will sell those too if they get anywhere near £4 again.

Market feels like it's getting ahead of itself and will be due another downward leg soon...

[dexdringle] 02/5/2020 13:41

I absolutely agree with QP. The wording is an ambiguous shambles. Whether they intended to or not they are borderline treating the shareholders (owners) with contempt.

[senku] 02/5/2020 04:39

How do you interpret this sentence in the press release?

"In addition, the Board confirms that it will be making one dividend decision relating to the 2020 financial year and this will be made in February 2021 at the time of our full-year results."

Does it mean no interim dividend this year?

[dexdringle] 01/5/2020 15:30

Hmmm.

Will also be interesting to see if AFH pull their proposed 5p dividend announced in January and payable soon (XD date to be 11th June and payment date 3rd July). I'm betting they won't....(which probably means they will)

[dexdringle] 01/5/2020 14:21

Blimey. I genuinely didn't realise others had done the same. Traditional rules clearly no longer apply.

What I still don't understand is why SJP didn't simply reduce the dividend to 20p from 32p. But instead they re-set the XD date to do the whole thing afresh. Surely that is a weird way to handle an already weird situation ?

[chris79] 01/5/2020 12:47

Barclays and land securities both did it last month

[dexdringle] 01/5/2020 11:47

We still have the issue that cancelling a dividend AFTER the share has gone XD has the effect of retrospectively creating a false market at the XD date.

These other companies who have cancelled have done so BEFORE XD date. That is a different thing all together.

The fact remains that the price reduced on 17th by 33p to reflect the dividend money leaving the business. Which is normal and exactly that happened (check ADVFN chart for that day). Those buying on that day or after wouldn't qualify for the dividend. And anyone selling on that day or after would still receive the dividend. Therefore anyone who sold after that date has physically lost 33p a share. I can see SJP having to reimburse those people.

As far as I know, what SJP have done is unprecedented - unless someone can point me to a previous dividend cancelled AFTER XD case ?

[chris79] 01/5/2020 11:41

Sadly we live in a world where the media and politicians believe all shares are owned by billionaires off shore and so giving up dividends is good. They ignore the reality that they are owned directly or indirectly by ordinary people and their income is being crushed which knocks on the economy instantly and in the medium term by lessening the invectives to invest.

[tim 3] 01/5/2020 09:31

Sainsburys did a similar thing yesterday seems a "popular" thing to do at present even when companies can afford it.

[chris79] 01/5/2020 09:20

Even after ex and record they are still not obliged to pay it. A few skipped them in the financial crash but then companies were really saying 'we are now up the creek and need that money' whereas now companies are doing it to 'prudently save cash'. Not right in my view

[dassera] 01/5/2020 09:18

The original dividend never happened...

EPIC Share Price Div Type Dec Date Ex-Div Date Payment Date
STJ 851.4p 20p Interim 2 30-Apr-20 07-May-20 27-May-20

[dexdringle] 30/4/2020 16:51

The more I think about it the more mental it seems. The price dropped 33p on the opening once ex-div. As you'd expect. But if you sold at the lower price after they went ex-div you would have done so in the knowledge that you would still be entitled to receive the 33p dividend - so the fall in price would be offset by that.

What we need is the view of someone who sold ex-div and now realises they wont be getting the dividend (so needed to have sold before ex-div at the higher price).

Bizarre!!

EDIT I think an additional issue here is that the results set the ex-div date but also said that the dividend was subject to approval at the AGM which is 7th May. So, presumably, that agenda item will be altered. This doesn't work though if the ex-div date is before the AGM date because the company is effectively committed before the AGM happens. Changing the dividend after ex-div date means a false market was created the day after ex-div. Seems odd that none of the press are picking this up ?

[dexdringle] 30/4/2020 14:02

Hold on. Did this not already go ex-div on 16th April? But they have now reduced that dividend and announced new ex-div date for that amended dividend?

Surely that created a false market either side of the old ex-div date (in that you could have sold the day before "cum-div" and bought back the next day 30p cheaper "ex-div" but now will get the 20p div?)

PS Porsche1945 filtered

[porsche1945] 30/4/2020 13:58

Cowards. A third reduction will make no odds but just didn’t have the balls to go against the government leaning on dividends and buybacks. Sold out with a quick 20pc profit (14k😁) and moved the dosh into Phoenix and l and g, better companies. Can see sjp suffering with aum going forward and their charges high and benefits few. Better buys out there now altho uk is toast probably, brexit fiasco and now the useless government even managed to make a hash of covid. Pathetic state.

[niggle] 30/4/2020 11:19

Prudent management cutting the divi. OK not great if you are relying on it but sensible given the circumstances.

The Board has decided to withhold 11.22 pence per share, or around one-third of the proposed 2019 final dividend, until such a time as the financial and economic impacts of COVID-19 become clearer. This prudent judgement will ensure we are able to deal with such scenarios and protect clients, the long-term value of the business, and our proven ability to benefit from the growth opportunity that will undoubtedly emerge on the other side of this crisis. As a result, we will pay 20.0 pence per share as a second 2019 interim dividend on 27 May 2020 to those shareholders on the register as at the close of business on 11 May 2020. In addition, the Board confirms that it will be making one dividend decision relating to the 2020 financial year and this will be made in February 2021 at the time of our full-year results.

[wolansm] 28/4/2020 10:29

Hopefully firming towards £9