SSE Interims

[77ss]

http://www.investegate.co.uk/sse-plc--s ... 00096798O/

No surprises. The usual modest dividend increase (1.86%), taking the running yield to 5.76% (at 1577p).

If anyone was hoping for a 'special' out of the partial sale of Scotia, they will be disappointed. The cash (ca. £600m) will largely go to a share buy-back.

Currently my largest holding - and happy to keep it that way.

[Breelander]

From the RNS...

The Board is recommending an interim dividend of 27.4 p per share, to which a Scrip alternative is offered, compared with 26.9p in the previous year, an increase of 1.9 %.

SSE believes that its strategic framework and opportunities for growth mean it can deliver a full-year dividend increase that at least keeps pace with RPI inflation in 2016/17 and in the subsequent years (measured against the average annual rate of RPI inflation across each of the 12 months to March).

...which sounds confident.

Can't find any dates though. Not in the RNS or this link on their website: Click here for our upcoming dividend dates Perhaps they'll update that page later in the day?

Bree. (holds SSE)

Edit: looking back at this time last year, the dividend timetable was in an RNS issued two days after the interim results.

[77ss]

Can't find any dates though. Not in the RNS
Bree. (holds SSE)

Bree - all the dividend dates are in the RNS. Payment on the 17/3/17.

[Breelander]

Bree - all the dividend dates are in the RNS. Payment on the 17/3/17.

[Doh!]

Ex-dividend date 19 January 2017
...
Payment Date 17 March 2017

[/Doh!]

[Wizard]

If anyone was hoping for a 'special' out of the partial sale of Scotia, they will be disappointed. The cash (ca. £600m) will largely go to a share buy-back.

Take cover, incoming!

[Garudadri]

Hi friends ,
Share price is pulling back and am keenly waiting for NG results tomorrow. Hopefully Yellen will put up rates next month and there will be a pullback in terms of UK utility share prices.
Garudadri

[daveh]

If anyone was hoping for a 'special' out of the partial sale of Scotia, they will be disappointed. The cash (ca. £600m) will largely go to a share buy-back.

I think I'd have preferred them to pay down debt than buy-back shares if they aren't going to pay a special. However they may consider debt cheap at the moment and by buying back shares there will be fewer they have to pay an expensive dividend on in future. The management may consider that a useful use of the spare cash.

[Dod1010]

On their website they say they will use £500 million for the sharebuyback. That is really quite a modest amount against their capitalisation (circa £15 billion I think) so I doubt that it will have much impact one way or the other except removing around 30 million or so shares which as someone has said will modestly help the dividend.

[88V8]

Pyad won't be buying them.

V8

[toofast2live]

I don't see why the market took this so badly.

[Arborbridge]

However they may consider debt cheap at the moment and by buying back shares there will be fewer they have to pay an expensive dividend on in future.

When debt is cheaper than equity, this is likely to happen. Not designed to make dividend requirers happy.



Arb.