Tatty
09 May 2018
Share buy back Presumably the dozens of individual trades are designed not to spook the market? Otherwise what's all that about?
IOMINVESTCOM
08 May 2018
Re: Reduced a few Reduce a few more from highest 5.28 paid so break even but collected the final divi. More a bookkeeping to tidy up book cost which is now 4.92 so will hold long term for those as 5.5% yield.On market weakness will be happy to re-purchase at better entry points.atb
IOMINVESTCOM
03 May 2018
Reduced a few Decided to reduce at 5.35 one of my higher purchases and collected the final divi as well.atb
Radaking
03 May 2018
Re: Aviva to commence £600 million... I have been investing for 40 years, and I have yet to see real concrete results from buybacks, perhaps as the buyback nominally lifts the price the subsequent buybacks pays over the odds, although it averages out, overall the buybacks are seldom good value, because they are arbitrary. Not even like a basic investor who only buys more on a dip. Sorry I think they are lazy with our money Bill. The only one I have seen is Sports Direct buybacks,course theres no div.........
Norman Barrington
02 May 2018
Re: Aviva to commence £600 million... Bill:" A buyback and equivalent special divi are near-identical economic transactions, so paying out a divi would betray exactly the same level of imagination and ideas - or lack thereof!" I would not argue with that, but you admit it still betrays a lack of imagination either way, We invest money in companies because we hope they will put it to work, otherwise we may as well have the money in the post office. If investors manage their portfolios properly and utilise ISA etc, the capital gains issue does not arise* (see below).The board look after themselves, the preference shares offer their investors... well preference.So if they can't think of what to do with the cash, offer a special div OR *scrip div and satisfy isa and non isa investors alike. USE MORE IMAGINATION, make life more interesting and flexible for regular PI's The board is supposed to be working for us too.Buybacks simply massage the eps, make things look better and the board can then give themselves bigger bonuses. I have been investing for 40 years, and I have yet to see real concrete results from buybacks, perhaps as the buyback nominally lifts the price the subsequent buybacks pays over the odds, although it averages out, overall the buybacks are seldom good value, because they are arbitrary. Not even like a basic investor who only buys more on a dip. Sorry I think they are lazy with our money Bill. A snake who starts eating his tail out of boredom, gets fatter, but you don't get more snake!
Radaking
02 May 2018
Re: Breakout Breakout has got to be above £5.50ish and hold for a while to be confirmend.We are actually around where we where some 9 YEARS BACK! That's not good,however if we break above £5.50 before the next results and hold....and the results are good and div gets raised to the same % as finals,then that would be perceived as really good.The full year div is actually lower before the crash.Only good news is if you have been topping up at lower levels.Give us a special div on top of the interim and that should send the shares higher then any buy back programme Mr Wilson
Bill1703
01 May 2018
Re: Aviva to commence £600 million... "... I feel that as an ordinary shareholder we should also be compensated for the almighty FUBAR the Aviva board committed - these are the people that we shareholders pay to look after our company for us. Personally I'd like to see a head (or two) roll..." I take the point, FRTEB, but with the SP up at 537p and pretty much in line with the 3-yr highs, it's hard to argue we've been too badly impacted?And watch this space on heads rolling... we haven't heard the last of this IMHO. Both Wilson and (perhaps particularly?) his CFO have had their cards well and truly marked - what price neither of them being there within a year or so? The big shareholders bemoan "Keystone Kops" chaos as much as anything.At the very least, I think we should see a big part of the pref compensation funded from the directors' prospective bonus pool...
Bill1703
01 May 2018
Re: Aviva to commence £600 million... "A buyback shows a board who lack imagination and have run out of ideas..."Even if that were true, Norman - and I don't believe it is, as I've argues countless times on various boards - then it's a bit of a non-sequitur.... A buyback and equivalent special divi are near-identical economic transactions, so paying out a divi would betray exactly the same level of imagination and ideas - or lack thereof!But good to see there are at least a few pro-buyback people in residence... and yes, the tax implications (in favour of buybacks) are quite significant for at least some private investors.
Windlesham Don
01 May 2018
Re: Happy with share buy backs Not too unhappy with a share buyback. As well as increasing nominal EPS, which 'should' boost the SP, the £600m used to buy back shares will also save the company over £30m pa in dividend payments.
JontyM
01 May 2018
Happy with share buy backs I don't have a problem with the share buy backs. From a tax point of view it probably makes sense as delisting of shares will be earnings enhancing and over time this should help push up the share price. As a private investor it should be quite easy to avoid paying CGT based on having the CGT annual tax free allowance, where as dividends can now attract further taxation for those with divs exceeding £2k pa.All in all if the board don't have a better way to use profits I'm quite happy for them to buy back shares to boost the earnings per share for the remaining shares. I believe this has been going on big time in the USA for years, which has also contributed to the record highs on US equity markets.Hopefully this will help the Aviva share price push on at last.
sage in the hills
01 May 2018
Breakout The Aviva sp has been stuck with a max of approx 540p since 2014 !!!(Although , wish i had bought at 360p in 2016 approx !! )....as the sp approaches 540p once again, i feel that these BOD actions give the best chance of the sp going strongly ABOVE 540p and staying ABOVE there.The dividends for income are already useful, and can still grow further of course.SAGE
FRTEB
01 May 2018
Re: Aviva to commence £600 million... " I hold these within the income section of my portfolio. Therefore I too would prefer extra cash by way of a special dividend. Once paid out cash cannot be taken away whereas the notional extra SP is hard to see in concrete terms. Overall good news, but AV. could have helped calm us already unsettled investors after the Pref Share fiasco, by paying out cash! " Quite. I don't begrudge the compensation to preference shareholders (he says through gritted teeth) but I feel that as an ordinary shareholder we should also be compensated for the almighty FUBAR the Aviva board committed - these are the people that we shareholders pay to look after our company for us. Personally I'd like to see a head (or two) roll. Not thrilled with the share buy-back, not compensated and not happy. Yours, An Ordinary Shareholder.
dazurtrader
01 May 2018
Could have been a 15p a share special divi An added thought. With 4000 million shares in issue, a 600M buy back is about 15p a share. I'd have preferred that a LOT!!
dazurtrader
01 May 2018
Re: Aviva to commence £600 million... I hold these within the income section of my portfolio. Therefore I too would prefer extra cash by way of a special dividend.Once paid out cash cannot be taken away whereas the notional extra SP is hard to see in concrete terms.Overall good news, but AV. could have helped calm us already unsettled investors after the Pref Share fiasco, by paying out cash!
Norman Barrington
01 May 2018
Re: Aviva to commence £600 million... A special divi would allow us to decide what to do with the "spare cash" A buyback shows a board who lack imagination and have run out of ideas.
