Marks & Spencer Interims posted on Company News.

[idpickering]

Here; viewtopic.php?p=456978#p456978

I believe some HYPers may have these on board their HYPs. Having read through the announcement, I didn't see a mention of an upcoming dividend being payable?

Ian.

[csearle]

...we will prioritise the recovery of balance sheet metrics consistent with an investment grade rating. We will assess the reintroduction of dividend payments in this context although this remains unlikely in the current year.

Chris

[idpickering]

...we will prioritise the recovery of balance sheet metrics consistent with an investment grade rating. We will assess the reintroduction of dividend payments in this context although this remains unlikely in the current year.

Chris

Thanks for that Chris. Sorry if I misled anyone.

Ian.

[csearle]

Thanks for that Chris. Sorry if I mislead anyone.

I don't think you misled anyone at all Ian. I just did the usual search for the letters "div" and it found that little bit right at the bottom. C.

[idpickering]

Thanks for that Chris. Sorry if I misled anyone.

I don't think you misled anyone at all Ian. I just did the usual search for the letters "div" and it found that little bit right at the bottom. C.

Thanks once again Chris. Back to MKS though, I have no position in them but have done so many years ago, nor am I tempted to buy their shares now either.

Ian.

[kempiejon]

Thanks once again Chris. Back to MKS though, I have no position in them but have done so many years ago, nor am I tempted to buy their shares now either.

I can see why Ian. I bought in 2008, I did my research and I expect in good HYP style I checked the dividend was covered, yield was higher than average of the FTSE100 and they showed over 5 years of dividend growth. That year they paid me 21p, a heady ordinary income never reapted - they managed to top 22p 2016 with a 4.42p special and now zero for a few years. Since I bought they cut a few time in 2009, 2010 and half a dozen static years - more details here but https://www.dividenddata.co.uk/dividend ... y?epic=MKS not much HYPable since 2008.

[tjh290633]

Here; viewtopic.php?p=456978#p456978

I believe some HYPers may have these on board their HYPs. Having read through the announcement, I didn't see a mention of an upcoming dividend being payable?

Ian.

From the RNS:

At the full-year results in May, the Board announced that payment of a dividend in the 2021/22 financial year would be unlikely as we focus on restoring sustainable profitability and recovering balance sheet metrics consistent with investment grade.

Consistent with that announcement, the Board does not expect to pay a dividend this financial year.

TJH

[Bouleversee]

I read in the last couple of days that they don't want to pay an unsustainable dividend because they are planning to take over Ocado and will need the money for that. I wonder how likely that is. According to an article in The Times, Archie Norman is worried that trade in Northern Ireland could become an operational nightmare and that European Commission plans could result in "worsening friction and cost and a high level of ambiguity and scope for dispute". He says that rules on labelling would add £9 million p.a. in extra costs for the 90 million products that M&S ships to Northern Ireland. They have already encountered £13m of extra costs in the past 6 months. Hardly an income share a.t.m. but I couldn't find anything on the share news board.

I have a holding in an ISA dating back some time, when brokers/analysts were harping on about the quality of M&S shares, and gifted my certificated shares to grandchildren some time ago, all losing a fair bit. What does anyone think of their recovery prospects? I can't say I'm very optimistic myself.
They have shut down the nearest food store and I was not impressed by the goods on offer in the High Wycombe one which is some distance away.