Hints and tips:
...Here is today’s announcement that PayPal will start offering company scrip a fully reserved stablecoin: PayPal USD is issued by Paxos Trust Company, a fully licensed limited purpose trust company subject...
...by 1,000 per cent after a winning bet on Netflix: And between 2017 and 2021, Ichan Enterprises’ tapping of debt markets was almost always led solely by Jefferies: Icahn himself usually elects to take scrip...
...He could, for instance, hold on to his stock and instead use the scrip as collateral for a loan....
...Not only is buying an expensive scrip a bet that this revenue growth will continue at a pace into the future beyond expectations, but that the particular business — whether it’s PayPal, Twitter or Snapchat...
...But a move of just 0.9 per cent feels particularly mute for a scrip that is widely renown for its manic volatility. So what’s going on? If you ask FT Alphaville, the problem seems to be expectations....
...Indeed in 2018, it grew the amount of scrip doled out by 35 per cent, versus top line growth of 29.1 per cent....
...Whilst NG's credit metrics are likely to fall short of Baa1 thresholds in FY21, we do expect them to get inline in FY22 with ongoing use of scrip dividend (JEFe: 30%)....
...Following on from an original informal approach, and contacts with institutional holders, Melrose tabled a formal cash and scrip combination which values GKN at 430p a share, entailing a cash component of...
...Being paid in company scrip into a company bank?...
...Regency Centers and Equity One have announced a $15.6bn scrip merger the two companies say will create the largest REIT by equity value in the shopping centre index....
...Such a narrow gap makes this new deal look unremarkable (although Fox shares have plummeted since 2014 so, depending on the eventual use of scrip, Time Warner could be in a worse spot, too)....
...are paid as new shares, helps reduce the drain on cash (£2m was retained thanks to the scrip scheme last year), albeit with a dilutive impact on earnings....
...Furthermore, we’re pretty sure the dark economy would adapt quickly by forging their own parallel bearer scrip in no time....
...Shire, explaining its decision to reject AbbVie’s £46-per-share offer in cash and scrip, says the offer “fundamentally undervalued” the company. Standard talk, and probably untrue....
...Stuart Gulliver, the bank’s chief executive, said he wanted to “plant a flag” that buybacks would be considered, including as a way to offset the dilution of dividends paid in scrip next year....
...Those prepared to believe that the surf’s still up, somewhere, can take a probable scrip provision. Others should just get out of the water. Email the Lex team in confidence at lex@ft.com...
...The equilibrium of a buyback with take-up of dilutive scrip dividends by Asian investors would provide a second line of defence....
...Santander, for example, is expected to raise more than €10bn in fresh equity over the next two years, solely through distributing four-fifths of its dividend payouts in scrip form....
...It does not lend UK stocks, as the risk/return equation does not add up and it would mean losing out on scrip dividends; it does not lend bonds; it only accepts high quality government bonds as collateral...
...RBC Capital Markets predicted that Repsol would introduce a voluntary scrip on its dividend in a bid to save cash, heaping further pressure on the stock....
...The Keswicks hardly need the income — Henry takes the scrip alternative for his holding....
...They have been aiming to improve their capital cushion by selling assets, paying scrip dividends, converting debt to equity and issuing new stock TPG has been examining the European financial services sector...
...In reality it will be less, says Citi, because some shareholders will take the scrip options and some are based in the US. Still, it should provide a useful prop....
...BCP, the largest listed bank by assets, said it would raise capital levels by paying a scrip dividend, converting debt to equity and issuing new stock....
...There is still time for the scrip to turn out differently. But regulators and consumers alike have been put on notice....
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