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Pennon Group

Discuss Stock buying Shares, tips and ideas for stock market dealing
Turf
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Pennon Group

#708939

Postby Turf » January 31st, 2025, 3:32 pm

Moderator Message:
Split off from here to keep that thread focused on company news. - Chris

Gerry557 wrote:Pennon say 471971083 shares post RI with £129.3m total spent so I get 27.3957462p per share.

This will be mixed as the next payment wont include the new shares and then there might be a bit of CPIH inflation to add. As usual Im left with a 0.9 leftover share, arrh well at least its not 0.99 :lol:

Im still trying to find why this is so good for the shareholders, especially those that weren't spoken with before hand. Well at least I can feel smug I paid the last fine and it was a one off.


Hi Gerry so you are going with it ?

Gerry557
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Re: Pennon Group

#709709

Postby Gerry557 » February 4th, 2025, 1:56 pm

Turf wrote:
Moderator Message:
Split off from here to keep that thread focused on company news. - Chris

Gerry557 wrote:Pennon say 471971083 shares post RI with £129.3m total spent so I get 27.3957462p per share.

This will be mixed as the next payment wont include the new shares and then there might be a bit of CPIH inflation to add. As usual Im left with a 0.9 leftover share, arrh well at least its not 0.99 :lol:

Im still trying to find why this is so good for the shareholders, especially those that weren't spoken with before hand. Well at least I can feel smug I paid the last fine and it was a one off.


Hi Gerry so you are going with it ?


Yes. Buying at a discount (and no dealing fees) with a 10% yield its a bit silly not too. Just a pity the rest of the holdings have suffered. The good news is my calculations were off slightly and I am entitled to a few more shares than I initially calculated so maybe not losing out on those fractions.

vand
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Re: Pennon Group

#709792

Postby vand » February 4th, 2025, 8:30 pm

I'm a holder of PNN too, and this is my first time dealing with anything like this.

I think I'll just be ponying up the money and buying the extra shares I've been allocated. I've been hoping to top up my holding anyway.

Any idea what happens to the per share dividend going forward?

daveh
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Re: Pennon Group

#709803

Postby daveh » February 4th, 2025, 9:32 pm

vand wrote:I'm a holder of PNN too, and this is my first time dealing with anything like this.

I think I'll just be ponying up the money and buying the extra shares I've been allocated. I've been hoping to top up my holding anyway.

Any idea what happens to the per share dividend going forward?

The dividend per share is going down. They said they would pay the same amount in total next year but spread over more shares. There were a couple of calculations of the per share amount on the Pennon thread on the Companies board.

vand
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Re: Pennon Group

#709841

Postby vand » February 5th, 2025, 7:39 am

Thanks.

Any thoughts on why they're raising capital from shareholders rather than go to the debt markets? I'm not necessarily for one or the other, just more interested in their likely reasoning.

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Re: Pennon Group

#709842

Postby Gerry557 » February 5th, 2025, 7:49 am

27.39p was the result of my calculations.

Gerry557
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Re: Pennon Group

#709843

Postby Gerry557 » February 5th, 2025, 7:57 am

vand wrote:Thanks.

Any thoughts on why they're raising capital from shareholders rather than go to the debt markets? I'm not necessarily for one or the other, just more interested in their likely reasoning.


They are doing that too. I think there is a bit of messinging going on. The fat cat shareholders are having to stump up extra cash, reduce their dividends and grow them slower going forward. That's after already taking the fine from the last lot of dividends.

I suppose there are limits on how much they can borrow and are probably maxing the credit card anyway.

I wonder how long it will be before the shareholders start asking for it to be nationwide. :D


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