ITV

[monabri]

viewtopic.php?p=430879#p430879

(I hold a small qty of ITV shares...not one of my better moves).

Carolyn McCall, ITV Chief Executive, said:

"Our H1 results demonstrate that ITV is emerging from the worst effects of the pandemic. We've continued to implement our key strategic priorities and have further strengthened the business. Total external revenue was up 27% driven by 26% growth in ITV Studios revenue and a 29% increase in total advertising revenue within which total video on demand advertising was up 55%.

"We are optimistic about the future, despite the ongoing pandemic risk on our advertising and ITV Studios revenues. We know that the dividend is important to our shareholders and we intend to re-commence a progressive dividend policy based on a notional dividend of 5p per share which we expect to grow over time. The first dividend under the new policy would be a final dividend of 3.3p per share proposed at the full year results in respect of 2021"

Dividend will be at year 2014 level when restored. The next dividend will be declared Feb 2022.

[absolutezero]

An absolute dog of a share. Glad I got rid.

[dealtn]

An absolute dog of a share. Glad I got rid.

Up 100% in 12 months. Wish I owned a kennel load of similar dogs!

[monabri]

The time to buy...was 12 months ago!

[CryptoPlankton]

An absolute dog of a share. Glad I got rid.

Up 100% in 12 months. Wish I owned a kennel load of similar dogs!

Still, down 20% over the last 18 months, 57% over the last 6 years and dividend currently suspended (and only going to be reinstated at 2014 level, lagging inflation badly) - so, from a HYP point of view, I'm inclined to agree with absolutezero.

Of course, if you're a trader with the gift of timing, lovely - but this is the wrong board.

[tjh290633]

I had ITV as a result of originally owning Forte, which got taken over by Granada in 1996, then merged with Compass in 2000, demerged in 2001 back into Compass and Granada, the latter just being the TV interests, priced at 210p at demerger and then merged with Carlton, becoming ITV. It got down to 24p when they decided not to pay a final dividend in 2009 and I finally dumped it in 2010 at 58p.

The Compass side of the business did rather better. I had an IRR of -0.51% on what became ITV, but CPG since demerger has given me an IRR of almost 13%. The attraction of Forte was the shareholder's card, which gave you 10% off anything you bought in their establishments, which was a lot at the time.

TJH

[dealtn]

An absolute dog of a share. Glad I got rid.

Up 100% in 12 months. Wish I owned a kennel load of similar dogs!

Still, down 20% over the last 18 months, 57% over the last 6 years and dividend currently suspended (and only going to be reinstated at 2014 level, lagging inflation badly) - so, from a HYP point of view, I'm inclined to agree with absolutezero.

Of course, if you're a trader with the gift of timing, lovely - but this is the wrong board.

Apologies, I thought I was still on Company Share News. I accept seeking profitable gains isn't the aim here, and I don't belong. (I chuckle at being labelled a trader though!)

[CryptoPlankton]

Up 100% in 12 months. Wish I owned a kennel load of similar dogs!

Still, down 20% over the last 18 months, 57% over the last 6 years and dividend currently suspended (and only going to be reinstated at 2014 level, lagging inflation badly) - so, from a HYP point of view, I'm inclined to agree with absolutezero.

Of course, if you're a trader with the gift of timing, lovely - but this is the wrong board.

Apologies, I thought I was still on Company Share News. I accept seeking profitable gains isn't the aim here, and I don't belong. (I chuckle at being labelled a trader though!)

I was using 'you' as in 'one' - I noted you hadn't purchased at the low so certainly wasn't labelling you personally as a trader.

My main point though, regardless of HYP, was that as a longer term (longer term than one year) investment, ITV has indeed been a dog and picking a shorter period over which it has recovered some of its SP decline seems a little disingenuous. The market as a whole has recovered substantially since the slump of a year or so ago so this was hardly a unique opportunity for "profitable gains" (are there any other kind?!). Indeed, I imagine many of us, of whatever investing 'persuasion', will have done our best to take advantage of the opportunities presented and, hopefully, most have seen improvements in their quest for investment income, growth or, indeed, both.

(btw, I don't believe it's a case of whether or not you 'belong' as long as contributions are on topic for the board - something this thread may be starting to stray from so I'll leave it there!)

[monabri]

I decided to throw in the towel on ITV and redeploy the cash into Reckitt.....

viewtopic.php?p=431197#p431197

[absolutezero]

An absolute dog of a share. Glad I got rid.

Up 100% in 12 months. Wish I owned a kennel load of similar dogs!

I flogged it at a decent capital gain. Leave something for the next person!

But this is an HYP forum (as I am regularly told) so we should not be thinking about capital gain. Just yield. And from a dividend view, it's been a dog.

[absolutezero]

I flogged it at a decent capital gain. Leave something for the next person!

Course you did.

Not that I need to justify my dealings, but I consider 23% to be decent enough once I lost faith in the share. You may feel differently.
The lack of dividend (and only the carrot of one coming in 2022) is what eventually made me hit the sell button.

[Wizard]

The time to buy...was 12 months ago!

But the dividend was suspended then surely, so nobody buying for an HYP would have been buying then.

[Gengulphus]

The time to buy...was 12 months ago!

But the dividend was suspended then surely, so nobody buying for an HYP would have been buying then.

I think that's monabri's point, judging by the exclamation point and the smiley. It quite often turns out that from the point of view of achieving the HYP objective of getting a high level of future income, the best time to buy would have been when HYP purchase criteria are not being met...

The resolution of that apparent paradox is that it also quite often turns out that that would have been a dreadful time to buy - as an (admittedly extreme) example, consider the possibility of buying Carillion after it suspended its dividend about four years ago... I.e. giving particular examples of such purchase decisions that worked out (or in this case, would have worked out) either well or badly is basically indulging in hindsight about a type of decision that has highly variable outcomes in practice.

Of course, if one has the investing skill and judgement to weed out most of the investment decisions of that type that will work out badly without losing too many of the ones that will work out well in the process, one can do considerably better than HYP by ignoring HYP criteria like having a high yield at the time of purchase. But for those who (like me) have found little or no evidence that they have such skill and judgement, paying attention to the HYP criteria is far less risky!

Gengulphus