Thanks zangdook |
yes, on 16 Dec |
Has this gone Return of capital XD? |
The $9m rise in cash in Q3, despite finishing September with more clinker than last year, and better revenue on higher volume and price, makes it look very likely they have already turned the corner. I agree, though, that confirmation in terms of improved earnings and explanation of cashflows would help improve confidence.
The increased revenue in the 3 months to 30 September 2024 was largely attributable to the increase in the volume of sales during the period to 621,915 tonnes, 5% higher than in 2023 as well as a 2% increase in the price of products sold in the quarter.
Not forgetting Q3 national cement production was a record by a decent margin and October only just missed so Q4 had a decent start. To the best of my knowledge, weather has been very average since. Kazakhstan's average Nov and Dec weather is not what I'd want to work in, though! |
Mattjos - I would say it is probably being avoided rather than overlooked.
The last dividend was 6 months late and 2 year ago.
Management can’t advise when there will be another dividend and investors are having to make do with returns of capital.
Performance has been through a rough patch with margins well down due to market pricing.
Maybe when it turns a corner, hopefully during this reporting period, we might have see a more positive share price performance but until then I don’t see many new PIs investing here.
I continue to hold here but mainly due to significant capital losses on paper and the hope STCM can get back to it previous decent financial performance. |
I think one of the reasons this has remained overlooked is that the 'dividend' is not picked up by any of the Yield scanners as it is being paid in the form of a Capital Repayment.
eg. STCM used to feature here when the payout was a Divi but, it's nowhere to be seen now: |
If your shares are in either / both of SIPP / ISA there is no tax to pay, be it CGT or Income on the Divis. |
In my view steppe has been a bit unfortunate to have had its share price hammered so much by investors.Well run,strong balance sheet and long life asset.Bad points cyclical market and located in kazakhstan.I hold caml and thats just the same and is near its covid lows.Distribution is circa 3.6million pounds in a tough year.I have held for a long time and will continue to do so.Not a exciting investment but definately more sound than most companies on aim.GLA |
It increases your capital gain or reduces your losses available to offset against other gains in time, so you eventually do pay tax on it. Unless capital gains never happen again thanks to meddling governments. It sure feels like UK stockmarkets are never going to go up again at times! |
and it's not tax free if the share price ever recovers because it increases the eventual capital gain. |
wilo101,
Those that need years of dividends to make up for all the capital losses, that most of us probably have here.😊 |
Good news is the US$ is strengthening as against the GBP for FX and dividend purposes. who can complain at a 10% yield, tax free? |
Isn't what matters that it is good money? The payout is nearly 10% of the current share price, and the outlook good. |
money from Steppe has always previously appeared in my account on the day |
Payment date 31 December? That's a half day, then there's a holiday, most brokers aren't going to get it processed until half way through January... |
Should be an RNS on 151224 as to record date and timing of payout, nearly there |
my shares with Interactive Investor and I never received a voting notification ... assume others the same |
Many just never vote, you cannot assume was against |
"Shareholders approved the Special Resolution for a capital repayment of approximately 1.5 pence per ordinary share.... with approximately 83% of votes cast in favour."
"The Capital Repayment is expected to be completed by the end of 2024, with further announcements, including the Record Date, to be made in due course by the Company."
I'm surprised 17% voted against. What are they thinking? |
EGM this Friday . Given prior votes, i doubt it will be a 'close' vote & go through v easily |
even mighty JSC Halyk Bank also offers a 10% yield so all are under-valued, Air Astana will also pay a big dividend |
the 1.5p Capital Reduction payment equates to 9.345% at current buy price |
October Kazakh national cement production was a satisfactory 1.16k MT. The previous 3 years were 1.17, 1.14, 1.17.
I'm no expert but I think weather has been fairly average in November so far - nothing more disruptive than the usual wintery onset.
Car sales, manufacturing and industrial production trends all looked quite strong in October. |
Transport can be weird. I recall once delivering a 40' box from Southampton port to a builders merchant on the West side of Cardiff. When the box which had come from Greece, was opened it had 26 tonnes of concrete blocks in it. I asked couldn't blocks be bought cheaper locally. "No we saved £100 on this load". Thus if the railways are being subsidized in Kazakhstan, it could make it economically viable to ship cement right across the country? |
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