Trading the stockmarket (NO Referrals)

Have a reasonable holding of Pennon Group shares, and they are currently going through a process of consolidating and paying out a special dividend.

Details here: https://www.pennon-group.co.uk/site...dividend-and-share-consilidation-overview.pdf

Problem I have is whilst their chart on page 4 makes it look like it's all rosey and you don't lose out, it fails to show that I'm assuming that there's a potential tax liability in the special dividend (which in my case there almost certainly will be).

Now I want to be keeping these shares long term so actually would rather have the shares than the special dividend, plus don't really want to have to pay the tax on them, so was thinking of either of these options:

1. Sell the lot before the holding date for the special dividend, then just buy back in later. Risk here I guess is if price goes up I get less shares, but I've not had to pay the tax on the special dividend to offset that (need to check the numbers but don't think there's any CGT to worry about here).

Plus point is I could start moving the holdings into an S+S ISA to avoid future tax implications.

2. Don't sell anything, wait for the special divi and just buy shares again with it. Guessing I still get stung for the tax this way though.

Anything obvious I'm missing here?
 
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Portfolio rebalancing, dont hold more then 10% in one thing or if you do you have an excuse to trim it. Big utilities can suffer from regulation costs, price caps all sorts. The share should adjust down by the amount paid out, the ISA route sounds smart to me or SIPP. In effect you get the dividend as a capital gain, warren buffet says thats far more efficient and correct, tax wise its often a positive bias.

When they compare SP500 and FTSE do they account for reinvesting the dividends as paid because thats the only correct comparison. FTSE is likely cheaper, PNN is FT250 I was surprised as its not small.

Hurricane Energy shares up as High Court rejects... | Morningstar
Heck of a bounce, probably full circle here abouts -
 
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Thanks, it's probably a bit more than 10% but not much (but holding does grow every year due to a sharesave scheme).

Got until the end of the week to work out what to do, betting that will just end up leaving it and taking the divi, then once everything has settled then sort out moving stuff into an ISA.
 
wow yesterday was a stonker up 4%.

oh damn nio is up almost a full 10% on the day

only stuff I'm in right now on my invest account is
AMD, GOOGL, CRSR, HDLG, MSFT, NIO, PLTR and SQ (bought the dips)
I was in NVDA at 624 then bailed at 708 thinking there would be another dip :( now NVDA is almost at 800 :mad:

can't believe NVDA took off so much :O
 
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Is anyone else in BLNK, CHPT or Plug? They were part of the EV hype originally and recently everything seems to have recovered pretty well. All the Chinese EV's seem to be nearing 50$ again but CHPT is the main one i'm invested in.

They have recently invested a massive amount in their charging network and I believe should the EV's continue to rise as well CHPT will be a stock closer to 50$.
 
arknor said:
wow yesterday was a stonker up 4%.

oh damn nio is up almost a full 10% on the day

only stuff I'm in right now on my invest account is
AMD, GOOGL, CRSR, HDLG, MSFT, NIO, PLTR and SQ (bought the dips)
I was in NVDA at 624 then bailed at 708 thinking there would be another dip :( now NVDA is almost at 800 :mad:

can't believe NVDA took off so much :O
Click to expand...

Yeah the news NIO can trade in Europe has fuelled that lift off! Hopefully it will get back to where it was in Jan.
 
silversurfer said:
Hurricane Energy shares up as High Court rejects... | Morningstar
Heck of a bounce, probably full circle here abouts -
Click to expand...

The BOD need to go. More details of the proposal to the bondholders came to light, and its a joke. They are currently forecast to be a baw hair short of paying off the loans that mature next summer. The ad hoc committee of bond holders, approximately 80% have their balls in their hands. They will not renegotiate terms if the company start to buy back the bonds on the market, of which 20% of bond holders are willing to sell. That is $46m of the $230m loan, and at discount even if they gave a 40% premium to the current price, would shave off $14m of the loan repayments, and some small amount in interest as well.

Instead the current board spent $18m on the current plan that has been thrown out in court. One of the main shareholders, put together 3 plausible solutions. 1 A Bridging loan, which would mean the company could then pay off all the existing loan in full, buy back up to 20%, and have much lower ongoing expenses from a significantly lower loan. 2. They have already began discussions should they put two of their own directors into play, to renegotiate terms for the Rig, and started discussions with the OGA to reopen one of the wells that was plugged and abandoned, which flowed at commercial rates. Their intention here I suspect is to sell it. 3. is a raise from shareholders, using the same plan on offer to the bond holders, to bridge the gap.

The judge agreed, the use of emergency covid legislation to try and push through transfer of 95% of the company to the bond holders is not fairly in the best interest of all parties involved.

For anyone interested, this is still a highly risky play. The upside is likely to be the 20-40p range best case, the downside is a complete write off of shareholder equity.
 
Currently sitting on some losses on airline stocks. Both IAG and EZJ down around 17%.

Also invested in UIPATH. Also down around 18%.

The only thing doing ok is my Aberdeen Standard (I mean Abrdn or whatever) global innovation tech fund, currently 8% up. I should have stuck to funds over the last 6 months, rather than gambling on individual stocks.
 
Currently down about £4500 on RR at the moment. I'm in long term though so hopefully we see some upwards action with the sale of ITP Aero and more travel corridors added.
 
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Still up on IAG, but only around 10% now, it was 35% less then 7 days ago. I didn't expect this much of a fall, missed a good opportunity to buy and sell.

Sold Hyve at 1.45 last week, its dropped a bit since then, I might rebuy :)
 
Thanks Dire, court decided rightly but bonds always outrank shares so they likely get their way unless the company turns it around. Oil is doing well so far though, the upside is worth it probably

Malcy's Blog: Oil price, Hurricane, Eco Atlantic, Petrofac, Zephyr. And finally... (malcysblog.com)

RR is weak for any special reason or just general waves of excessive share liquidity and ongoing struggles would be enough I suppose. 90p upwards is a volume peak area and mirrored at about 110, so maybe its just in a box trading between those two points

JPM might be a buy Questor says. None of the banks are likely expensive but JPM being more reliable is a fair point




JPM listed on app but not RR because 8bn FT100 company is not viable, funny
 
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I'm down ~8% on RR at the mo, overall I'm up ~14% but there's a lot of red in there, be nice if it was all green but still, as long as the overall number is a positive...
 
arknor said:
wow yesterday was a stonker up 4%.

oh damn nio is up almost a full 10% on the day

only stuff I'm in right now on my invest account is
AMD, GOOGL, CRSR, HDLG, MSFT, NIO, PLTR and SQ (bought the dips)
I was in NVDA at 624 then bailed at 708 thinking there would be another dip :( now NVDA is almost at 800 :mad:

can't believe NVDA took off so much :O
Click to expand...

Nvidia is just crazy though. I had multiple opportunities to buy when it dipped to c$400 - however it was that ...it's expensive already, how much will it grow....bang :D

Be happy you did make some money - all you have to remember sometimes :)
 
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