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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
  1.50 3.37% 46.00 45.00 47.00 47.00 44.50 44.50 524,103 11:05:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 54.7 9.6 3.7 11.0 101

Steppe Cement Share Discussion Threads

Showing 4901 to 4925 of 5400 messages
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DateSubjectAuthorDiscuss
05/10/2022
12:47
#4908 Yep I wasn't relating stuff about future events so yes the problem will come around quickly again.
scrwal
05/10/2022
10:59
Haha, both guilty as charged I recon.
finctastic
05/10/2022
10:56
Aleman - Are you talking about the Malaysian govt. or the UK govt.??? :-)
eggbaconandbubble
05/10/2022
09:39
Very good Aleman
thordon
05/10/2022
08:10
Government messes up bringing in unpopular new tax. Government backtracks. Government dithers about clarifying. Yes - I see a pattern.
aleman
05/10/2022
07:47
Last year's interim was equally frustrating. Beginning to see a pattern anyone??
finctastic
04/10/2022
22:41
Too deep , the problem is the major shareholder is based in malaysia which also is a director of the board.
So work it out it out it's quite simple.

thordon
04/10/2022
21:32
#4906 You are omitting the closeness, assuming all is happily resolved in November & paid in Dec, of the next, similar (or perhaps greater in size?) dividend due in theory only perhaps 7 months later after that. It's not just a case of sorting this one and then the story (and inducement to continue holding) is then over; far from it.
bluemango
04/10/2022
21:11
I don’t know why they don’t do a blend of dividend and share buy back?
danmart2
04/10/2022
20:59
blue "they intend to pay it - bureaucracy allowing". True but there is no div showing as being paid for some time and is not 100% guaranteed to be paid - that is fact and is what a potential investor is presented with.

Yes we will know in November which is soon but given the length of time sorting it out there must be many investors who have looked at STCM and crossed it off their lists, which is their decision.

Yes we will get a big juicy dividend hopefully but it will decimate the cash held based on the balances per the interims. The price obviously gets hammered on xd day but does it recover given the recent performance, or does it perk up on the news so that xd drops to close to todays price- who knows.

scrwal
04/10/2022
20:12
219m shares in issuance
5p / share dividend cash, set aside for payment but, earning interest of some sort.

That's £10.95m Cash for the Divi alone, out of current Mkt Cap of £69m.
15.8% of the Mkt Cap is in Cash earmarked for a dividend payment.
In worst case, divi gets clobbered from 5p to 3.8p.

Indicated 33p to buy.

3.8p/33p = 11.5% Yield
5.0p/33p = 15.1% Yield

mattjos
04/10/2022
19:46
They've said as clearly as it's possible in the circumstances that the cash is set aside for a 5p dividend and that they intend to pay it - bureaucracy allowing. So your description of 'no apparent dividends' is unrepresentative of the actual situation, imo. Yes it's been a frustrating wait since July but there's literally only a few weeks now before November and the anticipated resolution of this issue.

Given the size of the yield (not only this payment but also the subsequent one of a similar magnitude only 8 or so months later!) if they can deal with this distribution satisfactorily, any reasonable shareholder, current or prospective, is realistically not going to mind about a few more weeks.

bluemango
04/10/2022
19:34
There is a problem for any potential new investor here - no apparent dividends and lacklustre growth/price sluggishness. Yes the business fundamentals are good but things are heavily weighed down by uncertainty and LTHs are hoping there is a favourable outcome on the divi because what does the share become if it changes into more of a capital play with low volume and a wide spread which can vary significantly during the day.
scrwal
04/10/2022
18:39
There is that and of course where this is concerned waiting to see if they do actually pay the dividends promised. It doesn't look great to any PI doing their research on SCs dividend payout success rate over the past 12mths. Patience is a virtue apparently but I for one won't be topping up here at least until the div drop.
finctastic
03/10/2022
18:04
Had my regular monthly drip investment here today and surprised it moved the price so easily.We're no longer exposed to US$ debit here & cash positive. A big chunk of 'divi to be paid' is earning a growing rate of interest & business is doing well. Amazing it's still so far off PI investment radar but, I assume many are simply now sitting their hands in the market malaise.
mattjos
03/10/2022
17:21
hxxps://www.malaymail.com/news/money/2022/10/03/britains-budget-bomb-still-ticking-despite-tax-u-turn/31473
danmart2
30/9/2022
10:24
Yep, would seem so.
bluemango
30/9/2022
10:22
People are being hit with margin calls and forced to sell anything they can.
zangdook
30/9/2022
09:53
It's all in the RNS's, decision expected Nov (so between 4 and 8 weeks from now), planning to distribute 5p which represents a stonking yield on current price, question is how the company avoids unnecessary tax. Not ex-div, and even if you haven't bought when div dates announced you normally have some days ahead until it goes ex-div.

As an aside, I find the last few days' slight price weakness bizarre in view of the yield on offer and can only assume it's people thinking they can get back in nearer the November decision at around the same price, which seems a somewhat reckless gamble?

bluemango
30/9/2022
09:52
From reading 13th of June RNS looks like they are waiting to make a decision on the dividend due to the tax is that correct so if I was to buy in today I would still be eligible for the dividend if it was announced thanks in advance for your reply
luckyclicker
30/9/2022
09:50
Could someone tell me if this has already gone ex-dividend or are we waiting for the decision and then there will be an ex dividend date was looking to buy in here thanks in advance for your reply
luckyclicker
28/9/2022
19:58
Indeed, I have shares in a variety of companies I would love to sell but Steppe is at the back of the line.
danmart2
28/9/2022
18:29
My take exactly Aleman. From what i have read and researched, we should be just fine but, awaiting the govt. clarification .. between now and then, the cash will roll up interest in the company bank account &, in part, fund the next dividend! We may be waiting until December which is a little annoying but, absolutely no reason to do anything other than buy more. Even if a tax is applied, the yield is comfortably more than inflation & extremely few alternates can offer even close to that.
The sellers here are simply the impatient & poorly researched .. the business is going well and slowly accelerating on most metrics. Value, Yield & Growth - Yes, Yes & Yes please, for me.

mattjos
28/9/2022
14:02
They are just waiting confirmation of exemption from the tax, hence no plans from the company for anything else at this stage. The government has said it intends for foreign dividends for qualifying companies (basically those who have already paid tax) not to be taxed a second time and that clarifications on exactly who do and don't qualify would be forthcoming. Thoughts are that most dividends from already taxed entities will not see further tax but it might depend on who pays exactly what rates and where - a minimum of 15% was mentioned. I think the company believes it will qualify when the guidelines come out which is why it's hung on and taken no action. It sounds like the government is going to publish in November. I think the most likely outcome is no change in anything and a delayed 5p dividend but this cannot be confirmed until the government publish. Until then, we can't be certain because governments are known to change their minds!
aleman
28/9/2022
12:23
eggbacon It looks like they are forced to pay the wht as there is no scope for any form of capital return because of the group structure and where the holdup is.

It seems they could be working out how to restructure the entire business including corporate residency locations but that takes time and may not help the Malaysian shareholders anyway. The current structure has hit them hard but you always run the risk of Governments changing corporate tax legislation and generally you have to bite the bullet when that happens.

scrwal
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