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| 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% | 15.00 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.00 | 15.00 | 15.00 | 15.00 | 15.00 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 10/11/2022 | Interim | GBP | 0.05 | 17/11/2022 | 18/11/2022 | 02/12/2022 |
| 08/07/2021 | Final | GBP | 0.025 | 15/07/2021 | 16/07/2021 | 30/07/2021 |
| 29/10/2020 | Interim | GBP | 0.01 | 05/11/2020 | 06/11/2020 | 20/11/2020 |
| 10/06/2020 | Final | GBP | 0.03 | 16/07/2020 | 17/07/2020 | 31/07/2020 |
| Top Posts |
|---|
Posted at 19/7/2024 09:17 by wilo101 As the RNS made clear, there is no "dividend" issue since pending the restructuring what is needed to be paid our and returned to shareholders can be done by further capital returns, no problems. |
Posted at 12/7/2024 19:10 by tag57 I would have thought most PIs will be waiting to see if the dividend payment process gets resolved before jumping in.I am tempted to average down but will probably push more money into some of my O&G investments that have no issues paying out good dividends atm. |
Posted at 12/7/2024 17:12 by aleman The update sounds very promising. National market recovering since the end of May. Pricing expected to improve. Market share up to 17% at the end of H1 from 11.5% in Q1 and 13.6% in H1. STCM sales volumes expected to be ABOVE 2023 (after -3.9% in H1 and -18% in Q1) in an expected flat national market (after -1.6% nationally in H1 and -12% in Q1).This actually sounds like a very good H2 is in prospect with much higher volumes expected (selling down stock, presumably) on moderately higher prices expected. Why has the share price not gone up? This looks about as good as could be hoped and much better than H1. Although H1 is only likely to return a very modest profit, H2 looks set to be quite significant - though getting a significant temporary boost from the sale of the excess clinker stock built up. |
Posted at 03/7/2024 09:09 by tigerbythetail I've really got no idea what argument Chriss911911 is trying to make.Can anybody translate? I do disagree with Aleman somewhat. Yes, AIM small caps and mid caps are struggling as many investors avoid the market. But STCM's share price woes are also down to the directors and management. They NEED to sort out the company structure and to report to market better. Still, I bet STCM would be valued very differently if the company listed in Kazakhstan! |
Posted at 01/7/2024 15:03 by chriss911911 Going back to 09', the Kazakh Tenge was worth 100 to USD, then promptly got devalued by 30% to 130, then more recently above 400 to USD, an exceptional collapse in value, no wonder they have an eye watering 124m devaluation loss on balance sheet to date, to say nothing about the ravages of inflation locally of late, what ever is going on there it is not good news.Earnings after tax with no withholding tax on dividend barely supported 13p a share, at least they have no debt, but not looking to add these, too high risk, for very little prospect of a return, they will be doing well to hold the market cap capitalisation, but far more likely it will slide badly when they next update. The red flag was the story behind dividend, if correct, a sell, if not correct, then they are disguising a deteriorating picture, so also a sell, either way a sell, management are not exactly sounding the assuring bells here, highlighting mostly deteriorating metrics from their last update. Does not help also, that the Tenge has been in free fall the last week also by 10%, going from 440USD to 475 USD, someone will do well somewhere, but not UK shareholders, you can be sure we will get tengied. |
Posted at 29/6/2024 08:40 by andydaf Share price here is suffering due to the dividend issues.The actual business is in better shape than ever.Net cash,it now self funds forward production and capex,of course cement sales are subject to economic cycles but steppe as a company with no debt should be the lowest cost producer in kaz.Lets see how the update in july reads.GLA |
Posted at 27/6/2024 19:17 by dodger777 I guess to the share price was well pumped up because of the dividends they were paying out. Who knows what’s happening with dividend payments now. |
Posted at 19/6/2024 09:08 by zangdook This bit is clearer:"As communicated before and in this report, changes in taxation in Malaysia and uncertainties in the tax treatment in the Netherlands created a substantial risk of cash erosion in our ordinary dividend flow. Despite repeated requests to reputable tax advisers, no assurance could be obtained regarding the potential impact of these changes. To provide a short-term alternative solution to the payment of a dividend to shareholders, the Board reached the conclusion that a capital reduction would allow an initial cash payment to the Company’s shareholders in 2024, and intends to undertake a legal restructuring in the chain of ownership of some of the Company’s subsidiaries which will provide an efficient and permanent answer to the Company’s new tax environment. Further updates will be announced in due course." |
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 suspiciousTigerByTheTail - 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 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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