Carl could be onto something for the most hated Strawman stock

He also recommended PME as a technical buy quite some time again and would sack the Morningstar analyst who put a Sell on PME

Not held but my friend probably still holds AMP. Hopefully the wealth destruction for him has stopped.

@Strawman I couldnt resist. I guess you and Scott will be talking about the wonderful returns on Fridays show.

AMP shares rocket 12% on half-year results and big advice news - MF

AMP Notice of Meeting 2023 (HSF comments XX.1.23) a return of an old relic of a stock ( Return of the Jedi..lol )

Back on 27 February 2023:

Return of capital and dividends AMP remains well-capitalised and has a strong balance sheet, which enabled us in August 2022 to confirm a return of capital to shareholders of $1.1 billion subject to completion of the AMP Capital transactions, and any required shareholder and regulatory approvals. This included the immediate commencement of a $350 million on-market share buyback, of which $267 million is already complete. As part of our commitment around capital returns, AMP will return a further $400 million via a FY 22 final dividend of 2.5 cents per share, franked at 20%, and other capital management initiatives in 2023. A further $350 million of capital management initiatives will be announced following completion of the remaining AMP Capital transaction

DEBRA HAZELTON Chair, AMP Limited

Return (inc div)   1yr: 20.13%   3yr: -10.68% pa   5yr: -18.36% pa

AMP on an asset fire sale mode:

• $430 million on 27/4 for the domestic infrastructure and real estate business to Dexus
• $699 million today for international infrastructure equity business
• Approximately $20 million tin transaction costs post tax

Took profits today as this was never meant to be a long term hold. It was fun, but it almost seems like the business is selling its jewels. Ostensibly the capital will be returned to shareholders so it may be interesting again in the future.

Divestment of Infrastructure Debt platform to Ares Management.

• Cash consideration of $428 million
• To be used to strengthen the capital position of AMP Group
• Transaction expected to complete in Q1 2022
• AMP's simplification and spinoff strategy on track.

A welcome bump of 6% in the share price today.

Disclosure: Held IRL and Strawman.

Delisting from NZX

AMP has announced it will delist from the NZX to a single listing on the ASX. Monday 7 February 2022 being the first day it will trade soley on the ASX.

I see this as a potential for the share price to go lower - more stocks on the market and no doubt there will be NZ shareholders wanting to get rid of AMP shares. Either way, my investment thesis still intact.

Disclosure: Held.