Banco Santander S.A. @ 480.75p, -41.25p (-6.2%)
Well, despite taking 12 months to purchase, it looks like I may have jumped in to buying too soon with particular whiplash coming from the change in strategy at Banco Santander which has hit my recent addition to the tune of 12% and the forward looking disappointment of a reduced dividend as new management looks to address the capital strength of the bank in one swoop rather than a steady incline.
Rumours now rife that it might be the first step towards an acquisition.
Given the banks steadfast grip to its payout strategy through the last 6 years, and in the face of Spanish and EU concerns it is hugely disappointing to say the least.
More significantly, if I can no longer expect the yield then the growth forecasts need to be good or it will have to go straight out the door it just came in!
Related links:
- www.dailymail.co.uk: Santander looking to raise £6bn in cash call amid rumours over a new large acquisition
No comments:
Post a Comment