Akis1999
10 Apr 2017
Re: Following dividends Many thanks. It seems we should be expecting new dividend announcements in June.
Charityman
08 Apr 2017
Re: SP Halved Today at Close Paying it back as a special dividend is the worst option as it turns what would have been a tax-free capital gain into taxable income.No chance of lobbying to get them to change their minds?
The Navigator
07 Apr 2017
Re: Following dividends Electra Private Equity PLCSpecial DividendLondon 24 March 2017 The Board of Electra Private Equity PLC ("Electra"
is pleased to announce that it is today declaring a special dividend* of £1.0 billion, representing 2,612p per share, to be paid on 5 May 2017 to shareholders on the register of members at the close of business on 7 April 2017.Estimated pro forma Net Asset Value per share as at 28 February 2017 was 5,327p, after adjusting for realisations announced since 30th September 2016, the tender proceeds and 2016 dividend payments.The notice of termination of Electra's outsourced management contract has reduced the number of new investments being made and, with continued realisations, has resulted in the accumulation of significant cash. Prior to this dividend, pro-forma cash, based on transactions announced but in some cases still to complete is expected to be approximately £1.4bn.As indicated in the first phase of our strategic review in October 2016, the Board believes that it is best practice to return excess capital to shareholders and will continue to monitor the Company's capital needs as part of the second phase of the strategic review. As disclosed previously, the Board intends to begin the second phase of the review in June and looks forward to engaging with its portfolio company management teams as soon as access is granted by Epiris, or on termination of the Epiris management contract on 31st May, and anticipates announcing the findings in the fourth quarter of fiscal 2017.
Akis1999
07 Apr 2017
Following dividends Do we know if/when the next dividends are due (I mean new ex-divs, not payments of old ex-divs)?
The Navigator
07 Apr 2017
Re: SP Halved Today at Close I was a bit mystified by that. So, I asked Winterflood Research who came back with:Electra’s special dividend, which went ex-dividend yesterday was £26.12, so was equivalent to roughly half the cum-div share price as at the market close on Wednesday and half the last reported NAV per share at 30 September of £51.49p. As such, yesterday’s share price fall is reasonable. The special dividend was essentially a return of capital and follows a string of very significant realisations in advance of Epiris’ (formerly Electra Partners) investment management contract coming to an end. The fact that it was paid out as a dividend (and taxed as income) was quite controversial, as clearly it will have been less tax efficient for the vast majority of private shareholders than a return of capital via a tender or redemption would have been (which would have been taxed as capital). So, the upshot is that shareholders should get a big dividend.I hope this helps.B
The Dutchman
07 Apr 2017
Re: Sales I suspect the latter, which the new management would consider is running it in the interests of shareholders rather than in the interests of the investment Managers aka Electra Partners.
Charityman
06 Apr 2017
SP Halved Today at Close I presume that is because it has gone xd.Hadn't been following events as closely as I should have so to see that come up was a bit of a shock !!
Richygm
31 Mar 2017
Sales Do they intend to do any more investing? Or are they going to run this company down and close it?
In the dark yet again
29 Mar 2017
Re: Has anybody... Different opinions on this one. Not sure which one is right.Normal HMRC rules would be to count income on date invoiced. In terms of dividends that's traditionally been assumed to be ex-div date, i.e. it's definitely coming so count it. On the other hand cash accounting has always been tolerated for small businesses/individuals. i.e. the date you actually receive it.Me, I'm reporting mine 2017/2018 because that's when I'll receive it.If I have to have an argument with HMRC I'll have one because, in the past (and I still have the letters), they have argued that I should have paid it in the year it was actually received rather than the earlier year when I would have paid nothing - non-resident at that time, definitely resident the following yearMind you, I wouldn't be too surprised if they want it one way when it suits them and the other when it doesn't.Regards,ITDYA, going to report it 2017/2018
income investor
28 Mar 2017
Re: Has anybody... Record date 7 April and usually trade ex-div couple of days before record date, so no, I don't think I could have waited for next tax year to sell!
Richygm
27 Mar 2017
Re: Has anybody... Couldn't you have waited until 6/7 April for CGT in next tax year? I think I've got that right.
income investor
27 Mar 2017
Re: Has anybody... have sold today to avoid getting large income tax bill, with corresponding CGT loss. Not a good way to treat individual investors. Annoying have to incur CGT gain in this tax year, so trying to find something standing at a loss to sell this year as well.
Richygm
27 Mar 2017
Has anybody... had any more thoughts on the SD?
Richygm
24 Mar 2017
Re: Special dividend XD 7th April? I haven't taken my CGT allowance this year, so I'm thinking of selling next week. I may buy back in when the dust settles, or stay on cash until there's a correction.
marconiman
24 Mar 2017
Re: Special dividend If you had kept your money in the bank it would have been subject to little or no tax, but if you had ploughed it into Electra a large fraction of it will now be returned to you and liable to Income Tax, if it isn't in an ISA. That would be very annoying!
