Sarge, take heed of turbo's suggestion; AI looking very good with 13%+ yield . They just had a secondary and have begun to recover nicely. Might be a good time to enter now before any divvy announcement.
some life the last couple of days. An August post on their board questioned the "lock up period" of 90 days being over in early Sept. Wonder if this is what's now driving the price.
Just remember two quarters ago when all the drillers were the targets of the naysayers and prices were falling pretty rapidly. SDRL announced they saw a bit of softness in dayrates but didn't feel it would have any major effect on their business. The affirmed the .98 dividend for the balance of 2014. Lo and behold they RAISED the divvy the next quarter to $1.00. I have no fear of a SDRL divvy cut. It ain't gonna happen :~).
Norwegian Press on Fredriksen's Plans.....
The machine translation is not very good but it says:
Harald Thorstein will be JF's new right hand man regarding shipping.
JF has no plans to sell a "single share" in Seadrill or "our other companies."
JF is "keen to strengthen Seadrill during the slightly weaker rig market seen right now.
Going forward, he wants to concentrate on shipping, drilling and salmon. It is these areas that will be his core businesses.
Just some of Apple's partners on this payment system: Visa, M/C, A/X, Nordstrom's, Macy's, CVS, Walgreens and many card issuing banks. Ingenious. Get those who have never tried the mobile payment system in smaller stores to try it in the country's major chains, probably 200 million people initially targeted. At this time I'm very happy I don't own a smartphone, but Ugh, my wife does :~).
Golar LNG Ltd shares tanked in the extended session Thursday when the liquefied natural gas shipper said its chairman will sell up to a 34 percent stake in the company.
The company's 69-year-old chairman and president John Fredriksen will sell up to 32 million of the company's 93 million shares outstanding through his World Shipholding Ltd.
Golar traded recently at $56.70 a share, down more than 6 percent.
Fredriksen, a Norwegian-born Cypriot citizen, is ranked the 51st richest person in the world with an estimated worth of $16.8 billion, according to the Bloomberg Billionaire Index.
If the sale is fully successful, will leave Fredriksen with about four million Golar shares
Been waiting for this and hope to get in tomorrow but it's run up so much I'm a bit hesitant now. Would like to see $27 (A/H it's $27.50).
bayman: Most stocks will open on X/D date LOWER the amount of the divvy. Whether it goes up or down from there depends on the stock and the market.
When I see the way Yahoo works and the trouble inherent in their websites and poor performance I always wonder why rbgambler is so hot on it. Probably the worst website on the internet.
Realize this is mostly an O&G and related board but FIG represents a compelling value right now. They are about to put a lot of money in unit holder's pockets over the intermediate to long term. Right now, the market isn't giving them the respect that their distribution paying power deserves.
Eventually, the market will pay them their due. Patient unit holders will get the 'ole one two': 1.) A healthy distribution payment and 2.) A healthy capital gain.
FIG have adopted a regular+variable dividend structure where they pay out a regular quarterly dividend based on net managment fees every quarter plus a 'top off' based on realized gains on sale of investments. At the end of the year they pay another annual top off based on incentive fee income.
Last quarter FIG paid an 18 cent 'top off' dividend based on 91MM in realized gains plus an 8 cent 'regular' quarterly dividend. At that time they had another $540MM in unrealized gains sitting on the balance sheet and stated they intend to increase the pace of realizations over the next several quarters. So that's another $1.20 per dividend paying share that is set to be monetized.
Additionally, there is over $1 billion in unrecognized incentive income waiting in the wings. If management fees remain +/- 5% where they are that's enough to fund a 70 cent distribution for a little over two years. The current distribution is 32 cents...so there is a lot of upside there. As FIG said on their last call:
"We expect that realizations and corresponding top up dividends–subject toBoard approval–will continue to trend up in the next few years."
"There’s actually a bunch of DE embedded in the balance sheet and our plan would essentially be to return that DE as the balance sheet is monetized. A lotof the balance sheet is in, as I think we mentioned earlier, funds and direct investments that have pretty mature vintages and we’re working actively towards realizing gains"