The Lemon Fool

dividend for half-year year in sterling: 74.03p->72.23p (-2.43%); (quarterly div held at €0.4268)
https://www.unilever.com/investors/shareholder-centre/dividend-history/

Yes, flat in reporting currency and down in £.

I’m expecting Unilever to provide a token increase in the fourth quarter, in Euros, which might mitigate any full year decline.

Best wishes


Mark

absolutezero wrote:

Dod101 wrote:You do not give those who run Unilever much credit then? I suspect that the Unilever CEO and Board have more idea about economic moats than you or I do.

Dod

Why?

Highly amusing to me that those, including absolutezero, have nothing to say today. Run by idiots indeed!

So far the share price is holding on to its earlier gains.

Dod

Dod101 wrote:

absolutezero wrote:

Dod101 wrote:You do not give those who run Unilever much credit then? I suspect that the Unilever CEO and Board have more idea about economic moats than you or I do.

Dod

Why?

Highly amusing to me that those, including absolutezero, have nothing to say today. Run by idiots indeed!

So far the share price is holding on to its earlier gains.

Dod

I have plenty to say but been busy doing other things.

Re ULVR: Its economic moat is weak.
The 'cost of living crisis' hasn't even got started yet. Wait for people to buy supermarket stuff rather than branded.
Come back in 12 months and look at the results then.

PS. It's still run by idiots.

absolutezero wrote:

Dod101 wrote:

absolutezero wrote:

Dod101 wrote:You do not give those who run Unilever much credit then? I suspect that the Unilever CEO and Board have more idea about economic moats than you or I do.

Dod

Why?

Highly amusing to me that those, including absolutezero, have nothing to say today. Run by idiots indeed!

So far the share price is holding on to its earlier gains.

Dod

I have plenty to say but been busy doing other things.

Re ULVR: Its economic moat is weak.
The 'cost of living crisis' hasn't even got started yet. Wait for people to buy supermarket stuff rather than branded.
Come back in 12 months and look at the results then.

PS. It's still run by idiots.

Well with great respect, I certainly hope to be around in 12 months time to see the results then. You have of course been unable to substantiate any of your claims but are relying on a crystal ball. So far: Unilever 1 absolutezero 0.

Neither have you provided any substantive evidence to backup your claim that Unilever is run by idiots. If that is the best that you can do……..

Dod

Dod101 wrote:

absolutezero wrote:

Dod101 wrote:

absolutezero wrote:

Dod101 wrote:You do not give those who run Unilever much credit then? I suspect that the Unilever CEO and Board have more idea about economic moats than you or I do.

Dod

Why?

Highly amusing to me that those, including absolutezero, have nothing to say today. Run by idiots indeed!

So far the share price is holding on to its earlier gains.

Dod

I have plenty to say but been busy doing other things.

Re ULVR: Its economic moat is weak.
The 'cost of living crisis' hasn't even got started yet. Wait for people to buy supermarket stuff rather than branded.
Come back in 12 months and look at the results then.

PS. It's still run by idiots.

Well with great respect, I certainly hope to be around in 12 months time to see the results then. You have of course been unable to substantiate any of your claims but are relying on a crystal ball. So far: Unilever 1 absolutezero 0.

Neither have you provided any substantive evidence to backup your claim that Unilever is run by idiots. If that is the best that you can do……..

Dod

Crystal ball not necessary. Just a big dose of logic and not being blinded by having a vested interest in the ULVR share price.

Lots of research shows we over value the things we own. See The Endowment Effect.
I suspect that is the case here with your ULVR shares.
I'm looking at it dispassionately - my only exposure to ULVR is what's in my FTSE 100 trackers (circa 5%) so I'm not too bothered what happens to it.

Think logically. Interest rates rising, utility bills set to rise dramatically (not even got started yet and people are finding things tight - Javier Blas posted an eye watering chart on Twtter https://twitter.com/JavierBlas/status/1551966272233115648), less cash floating about for luxuries made by branded goods companies.
ULVR will not be able to pass on higher prices as people won't stomach it and will buy cheaper options. So ULVR either offer discounts (lower cashflow and profits) or people buy less (lower cashflow and profits).

Re: Your little challenge.
OK. I will take the bait.

1. Buying Ben and Jerry's with the stipulation that they can't do very much with it without running it past Ben and/or Jerry. Silly move.

2. Wanting to buy the GSK spin off then offering a badly thought out RNS about it - market reaction: dismal. Another silly move.

3. Terry Smith's comment about Mayonnaise having a mission statement being indicative of a company that has lost the plot. Quite.

4. Given that ULVR is a big chunk of the FTSE 100, you might want to compare its performance with the index.
You'd have been better off buying the index.
1 year: ULVR down 1.8%, index up 7.6%
3 year: ULVR down 11.2%, index up 8.2%
5 year: ULVR up 6.8%, index up 18.3%
Both figures cumulative total return. Index is a VUKE - Vanguard FTSE 100 tracker ETF.
Granted the short term movement in the share price *is* beating the index but looking at share prices over such short time frames is foolish unless trading rather than investing.

1 and 2 aside, given the main job of the the people who run a company is to produce shareholder value...

Figures from plugging ULVR and VUKE into the website Monabri posted earlier
https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/v/vanguard-ftse-uk-equity-income-index-accumulation/charts

From FT 8-Aug-22: “Ben & Jerry’s-Unilever: The latest court hearing in Ben & Jerry’s dispute with parent company Unilever over the sale of the ice cream maker’s Israeli business takes place in New York City. The Vermont-based maker of flavours Cherry Garcia and Chunky Monkey said in July 2021 it would end its sales in occupied Palestinian territories in a decision that has not gone down well with Unilever.”

Best wishes, Steve

absolutezero wrote:

Dod101 wrote:

absolutezero wrote:

Dod101 wrote:

absolutezero wrote:Why?

Highly amusing to me that those, including absolutezero, have nothing to say today. Run by idiots indeed!

So far the share price is holding on to its earlier gains.

Dod

I have plenty to say but been busy doing other things.

Re ULVR: Its economic moat is weak.
The 'cost of living crisis' hasn't even got started yet. Wait for people to buy supermarket stuff rather than branded.
Come back in 12 months and look at the results then.

PS. It's still run by idiots.

Well with great respect, I certainly hope to be around in 12 months time to see the results then. You have of course been unable to substantiate any of your claims but are relying on a crystal ball. So far: Unilever 1 absolutezero 0.

Neither have you provided any substantive evidence to backup your claim that Unilever is run by idiots. If that is the best that you can do……..

Dod

Crystal ball not necessary. Just a big dose of logic and not being blinded by having a vested interest in the ULVR share price.

Lots of research shows we over value the things we own. See The Endowment Effect.
I suspect that is the case here with your ULVR shares.
I'm looking at it dispassionately - my only exposure to ULVR is what's in my FTSE 100 trackers (circa 5%) so I'm not too bothered what happens to it.

Think logically. Interest rates rising, utility bills set to rise dramatically (not even got started yet and people are finding things tight - Javier Blas posted an eye watering chart on Twtter https://twitter.com/JavierBlas/status/1551966272233115648), less cash floating about for luxuries made by branded goods companies.
ULVR will not be able to pass on higher prices as people won't stomach it and will buy cheaper options. So ULVR either offer discounts (lower cashflow and profits) or people buy less (lower cashflow and profits).

Re: Your little challenge.
OK. I will take the bait.

1. Buying Ben and Jerry's with the stipulation that they can't do very much with it without running it past Ben and/or Jerry. Silly move.

2. Wanting to buy the GSK spin off then offering a badly thought out RNS about it - market reaction: dismal. Another silly move.

3. Terry Smith's comment about Mayonnaise having a mission statement being indicative of a company that has lost the plot. Quite.

4. Given that ULVR is a big chunk of the FTSE 100, you might want to compare its performance with the index.
You'd have been better off buying the index.
1 year: ULVR down 1.8%, index up 7.6%
3 year: ULVR down 11.2%, index up 8.2%
5 year: ULVR up 6.8%, index up 18.3%
Both figures cumulative total return. Index is a VUKE - Vanguard FTSE 100 tracker ETF.
Granted the short term movement in the share price *is* beating the index but looking at share prices over such short time frames is foolish unless trading rather than investing.

1 and 2 aside, given the main job of the the people who run a company is to produce shareholder value...

And their "brands" are by no means "can't do without" products.

Compare to the (sad) population needing to replace their s-phones with iPhones VS a considerably cheaper, but functionally comparable, brand with the millions of shoppers who'll gladly forgo Magnums or Hellmans and pick up the same-tasting cheaper alternatives.

TBF, the haters are quiet because there's little left to say. LON:ULVR share price over the past 5 years backs up what absolutezero and whole bunch of others surmise.

Matt

Latest Kantar report (13 September 2022)

https://www.kantar.com/uki/inspiration/ ... ates-again

"In what is a fiercely competitive sector, supermarkets are reacting to make sure they’re seen to acknowledge the challenges consumers are facing and offer best value, in particular by expanding their own-label ranges. Their efforts seem to be well received by consumers with sales of the very cheapest value own-label products up by 33% this period versus a year ago and nearly one in four baskets containing one of these lines. Overall spending on all retailer own-label lines was £393 million higher during the latest four weeks, pushing own-label’s share of the market to 51.1%."

Unilever CEO announces intention to retire at end of next year.

Unilever today announced that CEO Alan Jope has informed the Board of his intention to retire from the company at the end of 2023, after five years in the role. The Board will now proceed with a formal search for a successor and will consider both internal and external candidates.

Unilever Chairman Nils Andersen said: "Unilever has seen improved performance, enabled by its clear strategic choices and a significant company transformation. The Board will now conduct an orderly succession process and support Alan and the management team in further driving the performance of Unilever.

"Alan's retirement next year will mark the end of a remarkable career with Unilever. Under his leadership, Unilever has made critical changes to its strategy, structure and organisation that position it strongly for success. This work continues, and we will thank Alan wholeheartedly for his leadership and contribution to our business when he leaves next year."

Unilever CEO Alan Jope said: "As I approach my fifth year as CEO, and after more than 35 years in Unilever, I believe now is the right time for the Board to begin the formal search for my successor. Growth remains our top priority, and in the quarters ahead I will remain fully focused on disciplined execution of our strategy, and leveraging the full benefits of our new organisation."

https://www.investegate.co.uk/unilever- ... 00145472A/

Ian.

idpickering wrote:Unilever CEO announces intention to retire at end of next year.

Unilever today announced that CEO Alan Jope has informed the Board of his intention to retire from the company at the end of 2023, after five years in the role. The Board will now proceed with a formal search for a successor and will consider both internal and external candidates.

Unilever Chairman Nils Andersen said: "Unilever has seen improved performance, enabled by its clear strategic choices and a significant company transformation. The Board will now conduct an orderly succession process and support Alan and the management team in further driving the performance of Unilever.

"Alan's retirement next year will mark the end of a remarkable career with Unilever. Under his leadership, Unilever has made critical changes to its strategy, structure and organisation that position it strongly for success. This work continues, and we will thank Alan wholeheartedly for his leadership and contribution to our business when he leaves next year."

Unilever CEO Alan Jope said: "As I approach my fifth year as CEO, and after more than 35 years in Unilever, I believe now is the right time for the Board to begin the formal search for my successor. Growth remains our top priority, and in the quarters ahead I will remain fully focused on disciplined execution of our strategy, and leveraging the full benefits of our new organisation."

https://www.investegate.co.uk/unilever- ... 00145472A/

Ian.

It does not seem very long since he was appointed and it does not seem to me to have been a period of great success. I wonder if it will be another internal candidate to replace him?

Dod

Dod101 wrote:
It does not seem very long since he was appointed and it does not seem to me to have been a period of great success. I wonder if it will be another internal candidate to replace him?

Dod

Agreed Dod. In fact, he mentions having been in the job for 5 years in his comment above. Not sure who the new incumbent will be?

Ian.

idpickering wrote:

Dod101 wrote:
It does not seem very long since he was appointed and it does not seem to me to have been a period of great success. I wonder if it will be another internal candidate to replace him?

Dod

Agreed Dod. In fact, he mentions having been in the job for 5 years in his comment above. Not sure who the new incumbent will be?

Ian.

That is the question. They simply say they are looking!

Dod

Whether or not this is connected with the above announcement is unclear, but ULVR have opened up strongly today, up 3.6% as I type.

Jan.

idpickering wrote:Whether or not this is connected with the above announcement is unclear, but ULVR have opened up strongly today, up 3.6% as I type.

Jan.

Can't think of any other reason!...? 5 years as a CEO is reported as a median.

https://www.pwc.com/gx/en/news-room/pre ... 20analyzed.

Edit.. the effect of a very weak pound might be beneficial for FTSE 100 multinationals but Sterling was already sliding last week. I believe is is primarily due to the news regarding the CEO.

Dod101 wrote:
It does not seem very long since he was appointed and it does not seem to me to have been a period of great success. I wonder if it will be another internal candidate to replace him?

Dod

Looking at the 3 and 5 year charts makes me wonder if the post had been left empty it might have had the same result.

Uncle Warren wanted to pay £44 from memory albeit probably with a bit of bid premium plus we have had a covid period which might have negatively impacted the business.

Terry Smith might be happier if things become more simple.

Gerry557 wrote:

Dod101 wrote:
It does not seem very long since he was appointed and it does not seem to me to have been a period of great success. I wonder if it will be another internal candidate to replace him?

Dod

Looking at the 3 and 5 year charts makes me wonder if the post had been left empty it might have had the same result.

Uncle Warren wanted to pay £44 from memory albeit probably with a bit of bid premium plus we have had a covid period which might have negatively impacted the business.

Terry Smith might be happier if things become more simple.

I agree. Jope has had a nil impact at Unilever, except of course his tilt at Haleon.

Dod

Dod101 wrote:
Looking at the 3 and 5 year charts makes me wonder if the post had been left empty it might have had the same result.

Uncle Warren wanted to pay £44 from memory albeit probably with a bit of bid premium plus we have had a covid period which might have negatively impacted the business.

Terry Smith might be happier if things become more simple.

I agree. Jope has had a nil impact at Unilever, except of course his tilt at Haleon.

Dod[/quote]

I think he was responsible for shifting Unilever's operations back to the UK. Did his predecessor (Polman) not try to move Unilever HQ to the Netherlands? I may be getting confuse wit Shell - I own too many AngloDutch companies.

Actually my newspaper this morning has reminded me that Jope can claim credit for unification , based in the UK which of course his predecessor got expensively wrong.

Dod