Sylvania Platinum Dividends - SLP

Sylvania Platinum Dividends - SLP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Sylvania Platinum Limited SLP London Ordinary Share BMG864081044 CMN SHS USD0.01 (DI)
  Price Change Price Change % Stock Price Last Trade
-0.20 -0.17% 119.00 16:27:07
Open Price Low Price High Price Close Price Previous Close
118.50 118.50 119.50 119.00 119.20
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Industry Sector

Sylvania Platinum SLP Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

wilfieboy: Basem1 raises an interesting point. The standard rate for WHT in SA on dividends is 20%. However, Tharisa is a Cyprus resident company and Sylvania is a Bermudan resident company. Neither Cyprus nor Bermuda applies WHT to dividends to non-residents. So, given that the SA subsidiaries of both companies will dividend up their profits from SA to Cyprus/Bermuda respectively, I wonder whether this might be a matter of presentation, ie. Sylvania bears the cost of SA WHT and then pays a "net" dividend, whereas Tharisa passes a "gross" dividend to the shareholder, less WHT borne? Another couple of curiosities: - Under the Double Tax Treaty (DTT) between SA and Cyprus, SA WHT on divis paid up to Tharisa (Cyprus) should be reduced to 5% - There is no DTT between SA and Bermuda and therefore a rate of 20% might be expected on divis from SA to Bermuda. However, SLP advises that the WHT cost is between 6% and 8%. Per happywanderer above, the WHT may simply be related to having a quote on the JSE and local SA rules around distributions, although tax rules usually tend to consider the residence of the company. (In this respect, one of Tharisa's recent RNS' indicated that SA shareholders would be deemed to receive a foreign divi, subject to 20% WHT.) Have we got any tax experts out there?
basem1: Just a question I have posed myself I have not paid any dividend tax before on SLP dividends and have received the full amount. However THS dividends are subject to 20% withholding tax Can anyone explain why as they are both SA domiciled ? TIA
xajorkith: Don’t use ADVFN much now as concentrated in US shares and SLP the only UK stock I still own. Thought I’d add something to the above from bbluesky though, in regards to Stockcharts. If you compare the charts of the Rhodium ETC with SLP (Ticker XRH0.L:SLP.L), you can clearly see when SLP is relatively undervalued when compared to Rhodium. By adding the RSI to this chart, you can also see that the ratio is currently overbought, with an RSI approaching 70. Similar points were reached in early February, early April, early July, and early October - and led to strong rises for SLP in the months ahead. I would also add that this ratio is now at least 50% higher than it was prior to 2020, so any mean reversion (assuming Rhodium remains stable) could lead to a significant rerating for SLP. Whilst it’s obviously not as simple as that and SLP is more than just a play on Rhodium, it does serve to highlight potential bullish periods for SLP. Past performance doesn’t guarantee future success of course, and it could just highlight that Rhodium is overvalued, so please dyor etc..... All the best....
carcosa: I do not think it would be sensible to have a stated pence per share amount as a dividend policy. Look what happened in 2008, platinum at $1,850 per ounce and for rhodium at $7,500 per ounce and a month later the prices were $850 and $750 per ounce respectively. The prices did not recover quickly (unlike the recent March 2020 collapse of rhodium that lasted a few weeks). The end result was the near bankruptcy of another PGM producer operating company in SA, an emergency rights issue was undertaken. SLP managed to avoid that situation with their 'lazy' balance sheet. The current SLP policy has been discussed several times as a reason not to pay a dividend but a more simplified measure of say x% of Operating Profit would be agreeable to many. It also has to be remembered that dividends are subject to Bermudan company law, which in some circumstances ties the hands of the company for future expansion Furthermore paying 8% withholding tax on dividends is something that the company need to address; I've asked the question for the forthcoming presentation. Maybe something along the lines of getting paid in another class of share is viable (i think that loop hole was closed under UK company law a few years ago) People seem to think that current PGM prices are here to stay. History says otherwise. Todays' commodity prices are an aberration. To be enjoyed whilst they last. Can all head south very quickly so it's important the directors remain prudent with a view to the long term.
stemis: Kenmitch In that case why buy any big dividend paying share? As a holder I'd like SLP to pay a special dividend (bigger than it probably will). Firstly because it'll be like a top slice without me having to sell shares and secondly because eventually the cash becomes a drag on share price performance and thirdly in case it decides to do something stupid with all the cash. However I didn't buy it for the special dividend. Buying shares which regularly pays it's profits out as dividends is a different matter. Not really the place for such a discussion though.
kenmitch: SteMiS In that case why buy any big dividend paying share? With special dividends and ordinary dividends that mark down on ex dividend day often sees new buyers taking advantage of the lower share price, giving those buyers bigger future dividends. I much prefer special dividends to share buybacks because investors actually get that money whereas with buybacks if, as often happens, the share price subsequently goes down investors get nothing at all and lose money on the share price fall.
wilfieboy: SA needs to pay divis to Bermuda in order for SLP to make divi distributions. SLP information suggests a WHT rate of 6 or 8% (which is not likely to be recoverable). A standard rate of 20% applies to divis from SA companies to non-resident companies. This can be reduced via Double Tax Treaties (DTTs), but SA does not have a DTT with Bermuda (SLP Head Office). I will do a bit of digging on this but, if anyone has the answer to hand, please share.
fredfishcake: Reposting from a few weeks back: "Just as a reminder, from the annual financial report in Sep 21: The Board is therefore considering the payment of a 'metal price windfall dividend'. This windfall dividend payment will be based on excess cashflow generated from palladium and rhodium prices achieved above long-term broker consensus prices for these metals for the 2020 calendar year. Actual production achieved, actual prices achieved and the actual ZAR exchange rate will all be taken into account as well as its share of royalties, corporate tax and dividend withholding tax. Considerations to be taken as to the calculation of any potential windfall dividend, will be on an "achieved basis" and would be a once-off consideration. Should a decision be taken to declare any windfall dividend, the Company aims to make payment in Q3 FY2021." What is "excess cashflow" and what are "long-term broker consensus prices"? They are very much up to the board's interpretation - and recent history suggests that they very much err on the side of caution. I'd hope for 5p and be grateful for any more....and I can see that crashing the share price when disappointed investors cash out as a result.
risa5: 10% dividend yields! 2 cheap UK shares I’d buy in my Stocks and Shares ISA! I do love a good bargain. So I think it’s fortunate that there are lots of low-cost quality UK shares around. The uncertain economic outlook isn’t damaging my appetite for British stocks. Here are two I’d happily add to my Stocks and Shares ISA right now. #2: Another quality UK dividend share Getting exposure to platinum group metals (or PGMs) is another path I want to take at the start of 2021. Yes, prices of the precious metals might suffer if signs of an economic rebound begin to splutter. The automotive sector is responsible for around four-tenths of total platinum demand and weak car sales could naturally hamper metal prices. But I believe 2021 will be another strong year for PGM values. It’s a scenario that should keep profits at UK mining share Sylvania Platinum (LSE: SLP) moving higher. This isn’t just because the signals for the global economy continue to get stronger. It’s also because rising green legislation means that more and more metal is needed in catalytic converters. Additionally, low central bank rates and vast quantitative easing programmes are set to persist. Consequently investor demand for hard currencies is likely to keep rising as fears over the worth of paper currencies rise. Today Sylvania Platinum trades on a mega-low forward price-to-earnings (P/E) ratio of 7 times. It carries a 10.2% dividend yield for 2021 as well. Having weighed up the risks, I think this UK share could be too good for me to miss at current prices.
cagr18: SLP is around 3 % of Sibanye or Impala's EV. Sibanye is an acquisitive growth company and obviously bullish on PGM prices. Both these companies are generating around 30 % free cash flow yields now, and have relatively little debt. SLP could be a very attractive target. At these spot prices, I figure buying SLP at around 300 p would still be EPS accretive for them, at least for Sibanye. Hopefully SLP is left to get there on its own. Disclosure: I am long SLP.
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