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STCM Steppe Cement Ltd

22.00
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement Ltd LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 22.00 21.00 23.00 22.00 21.50 22.00 246,680 14:29:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cement, Hydraulic 86.73M 17.78M 0.0812 2.71 48.18M
Steppe Cement Ltd is listed in the Cement, Hydraulic sector of the London Stock Exchange with ticker STCM. The last closing price for Steppe Cement was 22p. Over the last year, Steppe Cement shares have traded in a share price range of 20.50p to 45.50p.

Steppe Cement currently has 219,000,000 shares in issue. The market capitalisation of Steppe Cement is £48.18 million. Steppe Cement has a price to earnings ratio (PE ratio) of 2.71.

Steppe Cement Share Discussion Threads

Showing 3526 to 3548 of 6025 messages
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DateSubjectAuthorDiscuss
08/6/2021
16:55
KS - My apologies. I somehow managed to quote the one bit where they switched into Sterling as $s. 4p on 219m shares is £8.8m, to confirm. You correctly point out that dividends paid in dollars were $11.5m. As net debt still falls $2.7m, that's still $2.7m that was left over after funding the dividend, though as a % of the dividend, that headroom is a bit smaller than in my original mistake. Your point about forex changes meaning that headroom might not be as great is interesting. I'll have to think about that. I do find accounts from companies in foreign currencies that translate into $s rather than £s take a bit longer to get my head around. Thanks.


NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2020

Dividends paid

During the year, the Company paid a first and final dividend of GBP0.03 (2018: GBP0.03) per ordinary share of no par value each amounting to GBP6,570,000 (USD8,678,970) in respect of financial year ended 31 December 2019 (2018: GBP6,570,000 (USD8,389,233)).The Company also declared and paid an interim dividend of GBP0.01 amounting to GBP2,190,000 (USD2,830,356) during the year. No interim dividend was declared in the previous financial year.

Dividends proposed after reporting period

The board of directors of the Company proposed a final dividend of GBP0.025 per ordinary share of no par value each amounting to GBP5,475,000 (USD7,472,828) in respect of the financial year ended 31 December 2020. The proposed dividend is subject to approval by the shareholders of the Company at the forthcoming Annual General Meeting, and if approved, will be accounted for in equity during the financial year ending 31 December 2021. The dividends have not been recognised as a liability as at 31 December 2020.

aleman
08/6/2021
16:25
The net cash change was almost zero if you exclude the effect of FX revaluation on bank deposits.

Net operating cash flow was $22.7m, from which $2.2m net of borrowings were paid down and $2m of lease liabilities. The company also paid $2.9m in income tax in 2020, with the tax charge only being $2.0m - presumably paying 2019 taxes, so next year might be lower. Dividends of 4p were paid in the calendar year (though only 3p related to the accounting year - 1p was the 2020 interim) costing $11.5m, not $8.8m(?), $1.2m paid in financing costs and c$3m spent on Capex.

Due to the expansion of Capex for next year, which sounds promising, and should help improve/maintain margins, I now don't expect a dividend increase in the short-term.

Sooner or later, with borrowings completely done, there will be an additional c$3.5m freed up, maybe more, if these additional rail wagons reduce lease costs? That is based on 2020 numbers, where production was down a little due to unplanned maintenance.

4p dividend cost $11.5m, so there will be room to grow it to 5p per annum fairly comfortably within the next year or two, maybe higher depending on the impact of the capex spending on efficiencies and output - my thoughts.

king suarez
08/6/2021
15:45
From statement of cashflows on Page 43:

Cash and equivalents fell from $9.0m to $8.2m while borrowings fell from $10.3m to $6.8m - so I make net debt of $1.3m became net cash of $1.4m, and improvement of $2.7m (or thereabouts as rounding might move that marginally).

Note 19 indicates that happened while paying $6.6m and $2.2m in dividends of 3p and 1p (in July and November), so $8.8m was spent on dividends as the net debt/cash position improved by $2.7m.

H ttp://www.steppecement.com/images/pdf/stcm_ar_2020_web.pdf

So the 4p of dividends paid seemed well enough covered by cashflow. The Q1/2021 update that preceded these results sounded pretty strong, so one would hope H1/2020 is going to be rather better than H1/2020. Given a flagged increase in capex spend, will that allow a dividend rise or not for the full financial year? Well, a slight reduction to 2.5p for the 2020 final is going to be paid in July(?) . We'll just have to see if net cash continues to increase and allow a higher interim to be paid in November.

aleman
08/6/2021
11:57
It’s a cash cow and other companies do like to buy cash generators cos it’s an easy peazy way to increase revenue, especially if their accounts are looking a bit weak!
eggbaconandbubble
08/6/2021
08:50
Debt is maybe not zero but NET CASH/DEBT position is important. The company has more cash than debt and thats what really matters! For my, the only downside is that they are producing at cca. 90% of capacity and there is not much room for growth in revenues, except if prices go up or acquisitions/new businesses. Correct me if im wrong.
xenomorph1
08/6/2021
08:46
Debt is effectively zero down from the peak of US$95m prior to the 3 fully underwritten rescue rights issues in 2009 onwards, given the cash the Group has, generates and maintains -it just chooses to keep the DAMU Loan as it is subsidised at 6% in KZT by the Kazakh Government, and who can look such a gift-horse in the mouth....wagons and railways are really a business within a business and a profit-center in their own rights.
wilo101
08/6/2021
08:33
His comments are not totally correct. I suggest you re-read the CEO statement and / or the statement of financial position, both of which clearly state that debt is not zero.
meathed
08/6/2021
07:58
Wilo your comments are totally correct,if you read the annual report you can see how COVID affected them,people should check the major shareholders and the ceos pay and lack of share options,look at the assets and value them accordingly,long term this company will grow,I buy these for my sipp and sleep well at night best regards
andydaf
08/6/2021
07:35
debt is now zero?
meathed
08/6/2021
07:24
Spot on, wilo!
eggbaconandbubble
08/6/2021
06:31
Some of these comments are ridiculous, STCM has always included the intended dividend in the Notice of AGM, released at the same time as the Results since, of course, all the Board can do is recommend a dividend based on the financial results, and it is for the shareholders at the AGM to approve the same in July, given the pandemic hit Kazakhstan, and hard in February 2020, how anyone can not be very pleased with the company and these results escapes me, the price should have gone up, not down 10%, one has to remember in 1998 there were no lines working and the plant had been vandalised and was closed, first the 4 wet-lines were slowly out back into production, then a BFS, project financing and the 2 wet-lines built and commissioned and at the peak the debt was US$100m, and is now zero, Cemex, Heidelberg and Lafarge would have spent US$500m to do what the company did, and there is now also a railway business as well.....time to buy, hold and keep your senses.
wilo101
08/6/2021
05:28
oh sorry aleman. That'll teach me for not reading the post properly before posting.

Matt has always said though that STCM is a TO waiting to happen.

1hercule
07/6/2021
22:33
After adding some at 23-24p not very long ago, I will simply hold, thought of adding a few times in the 30s but kept missing the opportunity. Today seems like an over reaction
doc_oj
07/6/2021
20:39
I am holding. Think it was an overreaction today. Will add at this level when funds allow
nik7907
07/6/2021
20:19
That's the share price for US Concrete and it has received a bid today. Concrete prices are set by local supply and demand, anyway, because it does not travel well.

USCR's market cap is around 17 times its $76m operating income but it carries debt of $702m and paid interest of $46m. More here:

aleman
07/6/2021
19:23
hTtps://rambus1forum.com/wp-content/uploads/2021/06/uscr.pngNot sure how much exposure stcm has to the market price for concrete but it has just taken off
1hercule
07/6/2021
16:03
I think the issue is not with Steppe but with the wider Kazak building boom which is showing signs of slowing down despite Covid, adding Covid to the mix just speeds up the slow down.
danmart2
07/6/2021
15:20
im upset. I put an order to purchase @43 and it didnt fill. More so, i see that the price dropped to 43 for 6k shares and later ( confirm me if im wrong ) it dropped to 41.98p as shown in the yahoo page ( maybe a glitch )? So i didnt increase my size, damnit. Im very happy for a 9% return, especially in a solid stable company without debt and a company that will increase in future.

5.1p EPS is great ( this is USD, right? ) and 90% goes to dividends through the years.
Cant find any safer play to put my money on, and since im older now, i am searchig for safer plays without much risk.
BUY @ anything under 50 and sleep peacefully.
regards guys.

xenomorph1
07/6/2021
14:56
Garry,
Thanks for your comments
personally i wasn't expecting an increased dividend and i can see how they arrived at 3.5p. My issue which might be nit picking is that there was no mention in the RNS of dividends and had to look elsewhere. Omitting this from the RNS seems very odd as it is one of the things most important to shareholders, would have thought it should have some prominence.

bisiboy
07/6/2021
14:24
I’m sure we’ll get another interim in November,capex is sensible,I think we’ll have a record year and looking at the report it’s the first time along with the dividend that there looking for acquisitions,so along with great value we might get some growth as well
andydaf
07/6/2021
13:46
return_of_the_apeman - is this a temporary income tax reduction? I didn't see mention of it in the accounts, other than stating a reduction to 15%..
king suarez
07/6/2021
13:45
I see, you are correct, apologies/thanks. I am confusing dates/timings.
king suarez
07/6/2021
13:30
FY 2019 no interim, final dividend 3p. Total 3p
FY 2020 interim 1p, final dividend 2.5p. Total 3.5p

zangdook
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