FWIW -- I read the following recently on Motley Fool -- "...When the dust settles, GlaxoSmithKline is going to walk away with a lot of cash from this asset swap since Novartis is forking over more than double what Glaxo is paying for Novartis' vaccine division. Ultimately, that means a substantial payday for GlaxoSmithKline shareholders. According to estimates when the deal was announced, Glaxo's plans were to return around $4 billion to investors. Yet, based on CFO Dingemans' commentary, Glaxo is still unsure what the best way is to get that money to investors.
Many have frankly hoped for a special dividend, but Glaxo could opt to repurchase shares in lieu of its falling EPS in order to lower its shares outstanding and provide itself an EPS boost. This could make Glaxo shares appear cheaper and might buoy its share price. It's definitely worth keeping your eyes peeled to see how Glaxo handles this shareholder payout..."
Let me preface my comments by saying I am not a "finance guy", and the calculations below are my own...
GSK has said that they will return 4b pounds to investors.
Based on what I see on yahoo now...GSK (ADR) market cap of 112.8b and a share price of just under $47 a share, there are (approx) 2.4b shares.
If you convert the 4b pounds to $ (approx 1.5 $ per pound), they should pay out approx $6b.
$6b divided by 2.4b shares is $2.50 per share.
It is remaking itself with recent divestitures and acquisitions. It is focusing on its vaccines business and will be a bigger player there and I think they are also beefing up their consumer division. They seem to be on the right track.
What is the Special dividend for? Any clue how much? Was just sniffing around this because of the current dividend and saw your post, but didn't see anything else... Also how do you feel about this stock? Seems to be one of the declining old school drug makers. Any chance it will re-make itself?
Philip Hampton, the new COB, will step into that role after the Annual Meeting on May 7. We'll see what happens once he is "on board".
I don't think the "dividend paid date" is a big date for making announcements. They are scheduled to announce the "July dividend" on May 6. I am hoping for an announcement as soon as possible, but I see May 6 as a target for the announcement. JMHO
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