Still learningafterallthistime
28 Feb 2018
Re: Final results - SP +11% After a brief bounce, we've given most back. As you say, the increase now reflects the higher payout, with the second year heavily discounted, if factored in at all. Tay Wimp didn't help. SL
cavebear
28 Feb 2018
Re: Final results - SP +11% What would be the point in buying now in anticipation of what is effectively a special div. If you are unable to do it within a tax free environment, you will merely be getting (a portion) of your own capital back and be taxed on it for the privilege.
II Editor
28 Feb 2018
NEW ARTICLE: Dogs of the Footsie: Still outperforming? "It could have been so different. If our Dogs hadn't included LSE:CPI:Capita, the troubled outsourcer whose share price plummeted at the end of January after it issued a profits warning, we would be trumpeting yet another year of outperformance ..."[link]
The Dutchman
28 Feb 2018
Re: Final results - SP +11% Apace, I may have done well on a few shares, but believe it or not my overall Housebuilders portfolio over the years is barely better than break-even..... WHY ? well the reason is that on Brexit vote day I stayed up till about 3
0am, by which time the result was fairly clear in my mind. I then went on to II, and other platforms and set sell orders for other housebuilders without setting a limit..... BIG MISTAKE. The ones held where the platform managed to operate in the market panic that ensued sold for 50% of the previous days price. Yes the real drop was 50% or so in those first few minutes. Anyone who bought my shares made 30% in the day! Lesson ...... dont panic.
BubblingUp
28 Feb 2018
Re: Final results - SP +11% Strangely enough aspace, before I read your post I was debating with myself whether to add more PSN when it was down earlier this morning, or make an initial investment in BRKB. I went for the latter on the basis of steady growth and an interesting stock. If only I could have got your amazing 2011 price on PSN!
aspace
27 Feb 2018
Re: Final results - SP +11% Sounds like you have done well on several shares there, Dutchman. Prompted by your posting I checked my own compound average on PSN since buying in early 2011 at £4.35 and came pretty much spot on the same as your average all-inclusive compound gain of 36% per annum. I then doubled my holding about a week or so ago when the price was at £24.23. So today was a very happy one. My next best is Berkshire Hathaway which tends to reliably increase 10-15% per annum with no dividend. Has also been a good USD hedge against Sterling. So I cannot match your record of several excellent picks. PSN is the one and only stand-out in my portfolio. But I don't mind because once I settle on a share I invest heavily (in the context of my little world) which in turn magnifies the gains. Although it does reduce my diversification. Sure the CEO has milked it and it does reflect badly on board governance. But I cannot manage PSN and he seems to be doing a pretty good job of it. Having committed my capital, PSN has given it ALL back plus extra. Which is more than I can say for Lloyds Bank and a few other of my holdings.
The Dutchman
27 Feb 2018
Re: Final results - SP +11% My curiosity was aroused by Aspace's reference to this being the best share he ever bought. I thought I would check against my holdings. I bought Persimmon in late August 2012 and to the end of January 2018 it had returned just shy of 36% compound annual growth including all divi's, returns of capital etc. Comparing it to any of my other holdings owned for all of the same period it was only beaten ( just) by Exel, a French Agri machinery company originally tipped my Merryn in the Saturday FT. Within a whisker was also Porvair, and also slightly beating it was TR European Growth IT, but in this case I added heavily to my holdings about 2-3 years ago which distorts the comparison.
BlackPrince
27 Feb 2018
Re: Final results - SP 11% With a P/E under 13, a forward yield of nearly 9% with the special dividend, loads of cash in the bank and plenty of land to build on these must be worth considerably more than the current price. After understandable profit-taking I'm hoping they'll fly some more.
shovelier
27 Feb 2018
Re: Final results - SP +11% Ex div date last year was 9th March so you’ve still got time to get back in if you think it’s worh it. Price will probably slacken off a bit over the next few days after this initial surge.
rhino666
27 Feb 2018
Re: Topped up on Persimmon The gamble paid off!
BubblingUp
27 Feb 2018
Re: Final results - SP +11% Well done Aspace. You sound a bit cheerier than in your last post. I had only just realised the SP had fallen below my previous buy price and was mulling where I could raise funds for another buy when I saw the RNS this morning . Too late already! Never mind, I am looking forward to about as much in dividends (for 3 years at least) as I would have made had I doubled my stake and the dividend had been frozen.Could this have been a little bribe sorry sweetener from the CEO to calm the minions fury about his self-enriching bonus plan? If so, it could just have worked.
aspace
27 Feb 2018
Re: Final results - SP +11% What struck me as odd here was that PSN gave an unambiguously positive trading update in January yet the share price still dropped to £24. As I said in my last post this was an unjustified price drop for a company with loads of cash that has consistently delighted shareholders for each of the past several years. Insiders were prohibited from buying as it was a close period. So we retail investors had the price drop to ourselves. On top of today's 11% price rise we have also been promised an extra 125p dividend in March in addition to the usual 110p dividend in July. Yet we see little positive press for this corporate cash-gusher. Those of us following this board can have this little baby to ourselves. PSN has been the best share I ever bought.
chronicle
27 Feb 2018
Re: Final results - SP +11% Sick , sold our before going on holiday when they was falling everyday, come back today, sick, but cant see x div date
Rhigos
27 Feb 2018
Final results - SP +11% Surprised nobody posted a message after share price rose over 11% this morning. Excellent results. I am very satisfied and pleased that PSN is my second largest, no after today's rise now my largest value share holding. Some key points from results:"In addition, the Board is pleased to confirm that the scheduled capital return of 110 pence per share, or c. £340m, will be paid, subject to shareholder approval, on 2 July 2018 as a final dividend in respect of the financial year ended 31 December 2017""Following this further improvement of the payment schedule the total value of the Capital Return Plan is estimated to be c. £4.1 billion or £13.00 per share, over double the original plan value of £6.20 per share"Nice to know shareholders will get a goodly share of profits as well as executives.Interesting article in the Weekend FT by Merryn Somerset Webb on charitable giving. "If, for example , Jeff Fairburn, the newly super-rich chief executive of Persimmon, hands over £10m of his bonus to charity his gift will cost the treasury - hence the rest of us - £5.65m" Worth a read anyway IMO. I am not happy with the amount money the government forks out to charities a lot of them being religion based. Many are are not IMO worthy causes. Merryn titles article "Britain's charitable giving model undermines democracy".
aspace
15 Feb 2018
Re: Topped up on Persimmon As often happens, I top up and the share price goes down. Well, I've done it again as the share price has dropped and PSN has now become my second largest investment. It seems strange the share price is languishing around 24 at a PE of only 11, strong cash generation and 1.b billion in the bank. What's not to like? Hence I've made a big commitment - in my little world at least. I look forward to the year end results on the 27th Feb.
