If they can bang out another 5p dividend or two the share price will react. |
Cheap as chips dividend/capital return reinvestment always makes sense given the effect of pound costs averaging, over time, the market cannot forever continue to so undervalue and misprice STCM is utter nonsense, see also similarly FAR and the like, all Kz stocks get ludicrous values other than Caspi and CAML, which will not last over time. |
True AlemanBut is that comparable ? |
With dividends reinvested, the FTSE 100 has grown 297.36%* in the last 20 years.
With dividends reinvested, the FTSE 250 has grown 649.7%* in the last 20 years.
With dividends reinvested, the FTSE All-Share has grown 336.08%* in the last 20 years. |
I recall Net value of £1.50 or something on the lines was mentioned years ago pre covid It meant little then and means little now I really do not get the excitement of these small capital repayments Ppl have been buying upwards upto 50p i recall . How many will admit they are sitting on higher averages and in bigger losses on the hope of this ever reaching its net value via a sale just to pick up the capital payments Capital gains is where the money is for PIs |
Thanks, Wilo. Very detailed and helpful. |
exactly as announced on 120723:
In response to evolving tax legislation in the jurisdictions of our intermediary holding companies, we have diligently continued the restructuring of the Company’s holdings to mitigate the potential risk of withholding tax on the dividend stream. Our efficiency enhancement strategy focuses on both streamlining the structure and minimizing associated costs. In line with this strategic realignment, Steppe Cement has incorporated a wholly-owned subsidiary in the Astana International Financial Center (AIFC) as a future holding company of the Kazakh operating entities. The Kazakh operating subsidiaries will remain 100% owned by Steppe Cement through its subsidiary companies.
Takes time to transfer the shares out of BV and liquidate it and the NA, that's all.
see also the following as to the BV, the NA owns BV and it is owned by Labuan, hxxps://www.bedrijvenregister.nl/renswoude/cac-holdings-netherlands-bv and hxxps://www.kvk.nl/zoeken/ |
see - hxxps://publicreg.myafsa.com/details/230540900399/ and hxxps://publicreg.myafsa.com/details/230540900399/ and hxxps://publicreg.myafsa.com/details/230540900399/, the shares in CAC and Karcment have to be transferreed out from CAC Holdings BV to the AIFC entity and then the Dutch and NA companies liquidated or dissolved. |
The restructuring is underway, rest assured, will be announced when completed, may mean getting rid of the Dutch sandwich and using an AIFC entity between the Labuan Topco and the 2 Kz asset owning and operating CAC and Karcement, simple as that, we can assume. Most people are abandoning Dutch sandwiches as their tax effect has gone. |
I'm happy enough to sit here and receive the payments (divis or RoC, I don't really care) for years.
But, that said, the company is "breaking the rules" of the AIM game. So I don't expect a substantial share price recovery until it fixes the company structure problem, resumes paying normal dividends, and announces a proper dividend policy. This is all irregular at the moment, and the market will continue to punish that.
The danger is that the major shareholder is happy with the way things are. And - given that there is plenty of room for further RoCs - there will be little or no pressure on the board to improve matters. |
It's in today : ) |
Wilo, what was wrong with Zangdook’s comment?
The management have not kept us up to date with the corporate structure to allow payment of divis. Yes, they have made RoC payments but that was not their intention and while the tax changes were not the fault of management we do not appear to have made any headway with regards to restructuring to allow the move back to divis.
The divi / Roc payments have been good over the last few years but that does not come anywhere near my capital losses.
The share price movement over the last few years suggest that quite a few PIs have done exactly what you suggested but it isn’t great for the share price is it? |
Money in iWeb now. |
Zangdook, you are clueless suggest you sell out and disappear forever, we do not need cloth heads and fools like you as shareholders |
There's no war in Kazakhstan and the last presidential succession was over five years ago. I suppose you think STCM will wobble because of rumours the Canadian prime minister will resign or because some people are making a fuss about Tommy Robinson being locked up in the UK.Pointing to the company's (varied) record of payouts completely misses the point which is that they have not kept us in touch with their plans or progress made on corporate restructuring, nor have they stated their intentions wrt type, frequency or amount of future payouts.As for dividends vs return of capital, each has its advantages and disadvantages. For me personally, dividends would be much better for complex reasons that don't belong on this board. But whatever their plans they should keep us informed. |
It's exactly as per the intent in the IPO Docs.
Of late, the process has become more complex due to tax reasons but, they are finding a way to do so & surely investors should be applauding that?
There is a cracking return on investment here for patient the patient investor, from a company valued at a fraction of it's true net worth.
I believe it sensible to remain patient and await developments |
- is there not a proven track-record and policy of paying all surplus cash out after the ≥€350m capital invested in the plant and equipment, so yields 10%, plus per year:
2024: June and December 2024 of GBP0.015p and GBP0.01508p
2023: deferred to 2024 due tax issues
2022: GBP0.05p paid 12.22
2021: GBP0.03p paid 31.07.21
2020: GBP0.01p paid 20.11.20
2019: GBP0.03p paid 12.19
2018: GBP0.01p paid 27.07.18
Making dividends and capital returns exceeding GBP0.16p over 6 years,now, despite the war and economy effects of Putin? and the Presidential succession. |
If we were paid as dividends we would be taxed that's why the money was paid as distribution |
Janicem
It's not a dividend, which is the problem imo. I am with HL and Iweb(,Lloyd's). Both of these pay dividends same day but seems to struggle with these distributions . I have had money from HL but not Iweb. I have no doubt it will arrive eventually.
Stcm need to strive to get these distributions back to dividends and commit to a dividend policy. The share price will then react accordingly in my opinion |
Anyone also with Lloyd's who hasn't got their divi yet? |
It has just arrived in my capital account, this morning. Must have been about the moment I posted saying I had yet to receive it. I must remember that trick to ginger up HL !!! |
That's odd. It went straight into my HL 'capital account' and I've already spent it. iWeb otoh are showing no sign. |
jimmladdi, yes it is there under 'transactions' (as a corporate action, but the money has not been credited. It has not reached either my income or my capital account.
HL has recorded the transaction, but hasd not paid over the money yet. In my book, I have not received anything until it is credited to me to spend! |
meanreverter,
I don’t want to clog up the bb with all the off topic, it was just to offer another perspective on IG and offer a cautionary tale. Rest assured I spoke and emailed many people, escalated to management etc. Asked the question many times that you pointed out above as well as asking where any regulator says that the account had to be closed. Pointed out the double standards and hypocrisy of it all. We had no choice but to close, which I would point out they took two months to complete the transfer due to us having to provide information that I have never had to provide to effect a transfer. It just all got very petty, vindictive and nasty, hence why I will never return to IG even though I think their platform is the best out there and in general their admin is good.
No more on the topic now though as it has clogged the board enough and has no relevance to STCM. |
Gary1966 — Your report about IG's policy is alarming and puzzling.
I have looked through IG's terms and conditions (T&Cs) for ISA accounts. There is a clause to the effect that, to open an ISA, you must be “resident and ordinarily resident in the United Kingdom for tax purposes”. The T&Cs do not appear to place any restrictions on holding an already opened account for people who travel abroad. Anyway, in your case, it seems that you are still ordinarily resident in the UK under the HMRC definition.
I suggest that you ask IG to point out the section in its T&Cs which empowers IG to close your account if you spend a few months in a country which, in IG's view, is a bit dodgy. It would be interesting to see the reply. |
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