Same @Roger. I invested in 18 shares (I’m a beginner!) at a grand total of £9.73 and I’ve already taken out £9.48 so my current investment is valued at a whopping £7.58 with only 25p at risk and potentially plenty to gain if there is more recovery. I’ll dispose of one more share if it peaks again and then leave the rest to see what happens.
I guess this is one of those situations where the stock is seriously undervalued but the risk is a bit of an unknown because of the politics. I can’t see it Evraz going bust in a hurry, but who knows?
Tried buying in at the lower price today before close and got rejected every time and couldn’t buy anything. This, along with the slow price updating is really starting to get annoying. @freetrade
I have held shares for a while it has been a good dividend payer ( till today anyway) I almost sold when in profit at the time they announced they were hiving off the coal business with hindsight it would have been a wise thing to do based where we are now.
Can you shed some light on your comment? How can anyone have been paid dividends?
The announcement says the interim dividend declared on 25 Feb is cancelled.
Was there another announcement for a different class of shares?
I’d hazard a guess it’s the somewhat inaccurate wording in recent news articles, using the words “gave”, “given”, “handed” etc
With it misleading readers not in the know around a dividends declaration, ex-div and payment dates
Quote - But Evraz and Polymetal – the two biggest Russian stocks listed on the London market – were allowed to continue trading and just four days ago $423million in dividends was handed to Abramovich, Abramov and Frolov.
Quote - The London-listed Russian steel and mining business Evraz has given investors a $1.55bn (£1.2bn) dividend, worth approximately $450m to its shareholder Roman Abramovich
But they got their click bait article with slightly inaccurate headlines out for people to click on so they don’t care. I read the G article and thought it odd as they would get paid when everyone else does.
So the fire sale didn’t happen, probably because the larger and institutional investors think that holding back the dividend makes the company much much stronger to weather the current situation.
As I’ve said before, (unless it goes nuclear, and then the price of your shareholdings will mean didly squat, and the preppers will be saying I told you so), the situation will resolve itself, (hopefully with Putin gone and either in jail or six feet under), and everything will return back to relative normality. China, India Pakistan etc will pick up any slack from any potential drop in western sales, the stock will rise and dividends resumed.
The only thing that may be an issue is the money due from the break off company that is on the Russian stock exchange which we are due to get the money from in October. With the rouble being worth less than a sheet of Andrex, and the Russian markets closed to the west, we may not get much back if anything at all.
To be honest I agree with them, even as a holder of Evraz. In difficult times it’s in the best interests of the company to hold on to cash rather than hand it out to shareholders. (and if it’s in the best interests of the company it’s in the best interests of shareholders)
I felt the same when Ford cut their large dividend in the covid crash, and Ford share price has come back very strong since
.