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STCM Steppe Cement Ltd

0.00 (0.00%)
18 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Steppe Cement Ltd STCM London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 19.00 08:00:00
Open Price Low Price High Price Close Price Previous Close
19.00 19.00 19.00 19.00 19.00
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Industry Sector

Steppe Cement STCM Dividends History

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

Top Dividend Posts

Top Posts
Posted at 10/4/2024 10:08 by danmart2
Sorry was looking at concrete figures

My point, STCM is fairly stable if somewhat unexceptional
Posted at 09/4/2024 09:43 by lloydypool
I'm not sure that the rebuilding of Ukraine will a) be a near term catalyst (as it seems set to drag on a while yet) and b) will directly be beneficial, as it is too far away.

However, there may be a knock on impact of the end of the war, firstly if there is some sort of stability in the region and secondly as supplies going into Ukraine (from Russia if they win?) may mean less available to export to other areas, such as Kazakhstan.

I suspect STCM may be in for a rough few years, but let's face it they are well set to get through it and the share price is around a 3rd of its previous highs. I don't think there is a lot of downside here and the biggest risk to investors is that the business is taken private as it doesn't seem they will need capital raises and there is a large proportion of the shares in few hands.
Posted at 06/4/2024 10:22 by return_of_the_apeman
The southern market has now been declared off limits due to higher transportation costs - presumeably they can't just increase the price for consumers as producers in the South don't have the same costs and so are more competitive there. The opposite should also be true that southern producers would have less of a share of the central market due to the same higher transport costs but this doesn't seem to have balanced out with Steppe's overall market share still falling. Steppe does not seem to be winning and in a shrinking market why will this trend not continue?

I get they don't want to sell at lower margins as this did not work during the 1st qtr last year and H1 ended with just 100k in profit so atleast they are trying something different however, if it was such a good strategy why have they never done it before? Also the reduction in capital return does not translate into any confidence in this years numbers to me as

The last dividend was paid in 2022.
In july 2023 2-3p was stated as put asside to be paid as a divi.
9 months of production and sales later, last years payout has dropped to 1.5p with no explanation - the read through is just not positive.
Posted at 05/4/2024 22:24 by aleman
If the 1.69m tonnes national figure for Q1 is correct, then March nationally was over 18% down on last year. That's a big drop so it would be hard for any company to buck the trend. I've searched for weather issues and there seems to have been a lot of snow and rain in mid-month as a storm with warmer,moister air tried to break through. It follows bad freezing weather in February after a decent January.

January to March are typically months 12,10 and 8 in terms of output magnitude nationally, and the weather trend in the North would typically magnify the national variation, so do not read to much into their drop for STCM in isolation. It's a less important quarter. Q2 will be much higher sales with less weather disruption (and lower transport costs?) and the stockbuild of clinker might help boost sales then. That stockbuild sounds significant and the drain on cash to working capital could be why the payout is smaller. It might mean very good cash generation from Q2 onwards if reduced sales to the South now mean higher margin summer sales in the North. (Being my usual optimistic self here, bad weather is bad weather and it might turn out what the company has done makes good commercial sense.)

Edit - apparently Kazakh rail freight might be seeing higher demand and prices as cargo from China/Asia to Europe is rerouted from ships sailing through the Red Sea. That's one to investigate.
Posted at 05/4/2024 17:58 by wilo101
I'm buying such nonsense is written here, really, cheap as chips, 350,000 tonne clinker stockpile all paid for always best produce flat out store and save and wait for the price to crescendo in July and August as supplies become scarce, STCM needs HCC to close its wet-lines at Ust and Semey
Posted at 29/3/2024 12:58 by wilo101
Is normally an RNS in early April, in 2022 and 2023 was 12.04 and in 2021 was 11.04.21, and before that about the same time for all years, so news as to preliminary results for 2023, trading update and hopefully dividend declaration news is close to announcement - STCM seems to follow a regular sequence and timing so, fingers crossed for some overdue news
Posted at 07/3/2024 16:56 by tag57
The 5p dividend paid in Nov 2022 was for 2021 financial year so we should be getting 2 years of dividend this year, at some time, maybe, fingers crossed, eventually, subject to tax jurisdictions etc.
Posted at 11/2/2024 18:45 by riddlerone
I am not convinced you are a shareholder here even though you seem to word your posts as if you are so excuse me for being suspicious

TigerByTheTail - 15 Jan 2024 - 13:01:57 - 5941 of 5994 Steppe Cement - Kazak Infrastruture Play - STCM
My short term and medium term expectations for STCM in conflict here.
Short term I can see why this might drop further - management hasn't given investors any good reason to hold onto these shares for now. The delay in the dividend payment makes management look incompetent.
However, medium term this is a good solid business. And once management sort the corporate structure issue out there could be a "double dividend" paid out this year that might amount to around 25% of the current share price.
Conclusion: I'm looking to buy. But not today. Not yet.
Posted at 27/1/2024 14:11 by mattjos
"Further to the announcement on 12 July 2023 in which Steppe Cement Ltd stated its intention to pay a dividend of 2 to 3 pence per share before November 2023 to the Company's shareholders and confirmed that it had set aside the funds to do so")

219,000,000 shares at 2p/share dividend = £4,380,000
219,000,000 shares at 3p/share dividend = £6,570,000

Let's say they put aside £5.5m for the dividend payment

Kazakhstan Money Market rates are circa 13% as compared to circa 5% for US$

I guess it depends on what currency they are keeping their cash in ... presumably mainly the US$ given the prior long-term trend for KZT to devalue relative to USD but, surely they'll keep at least some in KZT to try and capture some of that higher rate.

£5,500,000 @ 5% Deposit interest rate over 6 months = £137,000 interest on deposit
Posted at 04/1/2024 12:44 by zangdook
Some excerpts from the 2022 Annual Report:

Some changes to the tax treatment of
the chain of dividend flows from the operating
subsidiaries in Kazakhstan have been studied with
professional firms and will be implemented to
simplify the structure,

If the problem arises at an earlier stage than the final payout from the holding company to shareholders, changing the nature of that final payout from "dividend" to "distribution" or "tender" or "buyback" is unlikely to change anything.

As a result of the changing tax regime, both in Kazakhstan and Malaysia, the Company has been exploring
restructuring options in order to minimise the taxation risk on the flow of dividends to shareholders from the
operating subsidiaries going forward.

Again, Kazakhstan tax will be concerned with dividends paid between different elements of the corporate structure, not the eventual payments to shareholders.

Any dividend distributions to be made by foreign subsidiary companies are subject to dividend withholding tax ranging from 15% to 25% which may be reduced to 5% or waived subject to compliance with the relevant tax treaties requirements......

....Under the Malaysian tax law, any dividend income received by Malaysian subsidiary companies will be credited into an exempt income account from which tax-exempt dividends can be distributed. There is no withholding tax on dividends distributed by Malaysian subsidiary companies. However, in the tabling of Budget 2022, the government had announced that foreign source income will be taxed from 1 January 2022.
Under the Labuan Business Activity Tax Act, 1990, any dividends received by the Company from Steppe Cement (M) Sdn. Bhd., a subsidiary company incorporated in Malaysia, will be exempted from tax. There is no withholding tax on dividends distributed to its shareholders.

So it seems that, as well as some complication in Kazakhstan, there may be a problem with "foreign source income" coming into Malaysia, but not with the eventual payments to shareholders.

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