Last week Games Workshop announced a dividend per share of only 20 pence. While at the same point last year the dividend was only 16 pence there was an interim payment of 24 pence in February 2013 and 18p in 2012, making the total dividend 58 pence per share in 2013. Given the share price at the time dividends were announced of 613 pence, the 20 pence dividend is only a 3.33% return per share compared to 8.1% last year. It stands to reason the value of the stock should be taking a dive, however the share price has only improved since the 25% fall in January.
It appears having no CEO, closing stores in central locations, closing their major marketing even aka games day, releasing 40k two years early, delaying Warhammer and putting up prices on new products has not translated into higher profits.
Will acting CEO Thomas Henry Felix Kirby now change course?
- Urgently appoint a new CEO
- Open more stores in central locations to gain new customers
- Relaunch games day
- Refocus on beautiful affordable models
- Release a more balanced version of Warhammer
- Lower entry level prices, rules, codex, starter sets and troops.
- Drop the Hobbit and find a new franchise – such as Star Wars?
We will see.
From the Investor website
“Games Workshop Group PLC announces that the Board has declared a dividend of 20 pence per share. This will be paid on 4 July 2014 for shareholders on the register at 13 June 2014.”
“Games Workshop Group PLC announces that today the Board has declared a dividend of 16 pence per share. This will be paid on 5 July 2013 for shareholders on the register at 31 May 2013”
Games Workshop Group PLC announces that the Board has declared a dividend of 24 pence per share. This will be paid on 16 April 2013 for shareholders on the register at 8 March 2013..