Tube sell-off hits the buffers

Article Abstract:

The United Kingdom government plans a windfall tax on privatized companies such as Railtrack, and this could affect plans to draw in private investment to London Underground. The regulator of UK railroads sees the tax as possibly harming the UK transportation system. Companies that could invest in London Underground include Stagecoach and National Express, which could be affected by the new tax or stricter regulations. Railtrack favors privatization but argues that it should not be hampered by taxation.

Railroads, Rail Transportation, Taxation, Investments, Excess profits tax

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There's no ducking the share issues

Article Abstract:

Investors may first become involved in the stock market through share issues such as privatzations. Companies have to carry out new issues to become part of the stock market. Financial advisers help set the price. Stagging was seen as one way of making money from new issues in the 1980s. The price of the first privatizations tended to be low so shares could be sold rapidly for a profit. There is some opportunity for this with later issues but prices tend to be less generous.

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How dividends distort share valuations

Article Abstract:

Low dividend yields may cause concern and lead some investors to sell shares, but their message is not always clear. Total cash receipts for investors can be underestimated, however, if only dividends are considered, since share buy-backs and other methods can be used to transfer cash to investors. The total cash yield in the UK is some 7.8% compared with a dividend yield of 3.8%. Dividends are safer than share buy-backs and takeovers, however.

Economic aspects, Dividends

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