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Steppe Cement ( (GB:STCM) ) has shared an update.
Steppe Cement Limited, a company involved in the cement industry, announced the approval of a Special Resolution for a capital repayment at its recent Extraordinary General Meeting (EGM). The resolution, which received 82% shareholder approval, will reduce the company’s share capital from USD65,399,924 to USD61,049,924 through a capital repayment of approximately 1.5 pence per ordinary share. This capital repayment, amounting to USD4,350,000, will be distributed to entitled shareholders by the end of 2025, with the number of outstanding shares remaining unchanged at 219,000,000.
The most recent analyst rating on (GB:STCM) stock is a Hold with a £19.50 price target. To see the full list of analyst forecasts on Steppe Cement stock, see the GB:STCM Stock Forecast page.
Spark’s Take on GB:STCM Stock
According to Spark, TipRanks’ AI Analyst, GB:STCM is a Neutral.
Steppe Cement’s overall stock score is driven by strong technical indicators and robust cash flow generation. However, high P/E ratio and margin pressures weigh on the valuation and financial performance, respectively. The high dividend yield provides a positive offset to valuation concerns.
To see Spark’s full report on GB:STCM stock, click here.
More about Steppe Cement
Average Trading Volume: 67,660
Technical Sentiment Signal: Buy
Current Market Cap: £40.52M
See more insights into STCM stock on TipRanks’ Stock Analysis page.