Earnings statement included some negative information looking forward. Looks like second dividend is on hold. Lower price and too much product seem to be the cause. Outlook isn't great for rest of 2011. How will they sell this company on a roadshow?
According to the interim report for Q2 2011, Outlook section (p.14), it states: "... In accordance with our dividend policy, a semi-annual dividend
will be considered in light of the cash flow generation in the
second half of the year." This statement surprised me a bit that now it's clear the 1st div issued in May actually covered the cash flow generated in Q1 & Q2 2011 (not Q3, Q4 in 2010). So the coming 2nd div (if) will actually cover Q3, Q4 earnings this year. According to the report and production goal for 2011, I don't see high risk that MH would make negative cash flow for Q3/Q4. Thus 2nd div should be coming at end of year only on the matter of how much.
Unless I missed something elsewhere in the report or other reports, I wonder the recent downside of p.p.s is just due to the general debt/financial issues in Europe, not some negative issue inherent to MH's performance. I hope it's so, but please enlighten me if more insight.
I'm doing my part, but I'm getting tired of eating salmon for breakfast, lunch, and supper. LOL! just funnin of course!
I hope they pay something end of year. Even a token amount would help.
My guess is between .05-.1 based on my family's Oracle.
Now, all we need is for JF to announce that he sold all his personal holdings in Marine Harvest because he sees all is lost for the next 2 years- like he did with FRO.
It is beginning to look like a negative pattern with JF companies.
Funny you should say that, he just anounced buying 1,000,000 today... I think it is a good price now, apearently he does too, but I think there be a chance to get some lower... and I need to cuz I bought somewhere around 1.30 (with div) ... and then more at .99 ... I need to average this out ... and glad it's not margin! I end up buying margin a lot as that is default option and I miss checking cash button ... bugs the heck out of me!
They committed to paying dividends of 75% of earnings. If they don't do that, you cannot count on what management says, and all bets are off. My guess is the price breaks down below 52 week low of $.60- maybe today.
I am now MORE convinced the price will go lower. Certainly, the potential of the next dividend (now on hold) is no longer there to support the price. How much lower? Who knows? $.45, $.30, $.20?