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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Greencoat Uk Wind Plc | UKW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.30 | 0.93% | 140.80 | 10:10:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 138.60 | 138.60 | 140.80 | 139.50 |
| Industry Sector |
|---|
| ALTERNATIVE ENERGY |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 29/01/2024 | Interim | GBP | 0.0343 | 15/02/2024 | 16/02/2024 | 29/02/2024 |
| 26/10/2023 | Interim | GBP | 0.0219 | 09/11/2023 | 10/11/2023 | 24/11/2023 |
| 27/07/2023 | Interim | GBP | 0.0219 | 10/08/2023 | 11/08/2023 | 25/08/2023 |
| 28/04/2023 | Interim | GBP | 0.0219 | 11/05/2023 | 12/05/2023 | 26/05/2023 |
| 23/01/2023 | Interim | GBP | 0.0193 | 09/02/2023 | 10/02/2023 | 24/02/2023 |
| 24/10/2022 | Interim | GBP | 0.0193 | 10/11/2022 | 11/11/2022 | 25/11/2022 |
| 28/07/2022 | Interim | GBP | 0.0193 | 11/08/2022 | 12/08/2022 | 26/08/2022 |
| 28/04/2022 | Interim | GBP | 0.0193 | 12/05/2022 | 13/05/2022 | 27/05/2022 |
| 24/01/2022 | Interim | GBP | 0.01795 | 10/02/2022 | 11/02/2022 | 25/02/2022 |
| 19/10/2021 | Interim | GBP | 0.01795 | 11/11/2021 | 12/11/2021 | 26/11/2021 |
| 29/07/2021 | Interim | GBP | 0.01795 | 12/08/2021 | 13/08/2021 | 27/08/2021 |
| 28/04/2021 | Interim | GBP | 0.01795 | 13/05/2021 | 14/05/2021 | 28/05/2021 |
| 27/01/2021 | Final | GBP | 0.01775 | 11/02/2021 | 12/02/2021 | 26/02/2021 |
| 28/10/2020 | Interim | GBP | 0.01775 | 05/11/2020 | 06/11/2020 | 27/11/2020 |
| 30/07/2020 | Interim | GBP | 0.01775 | 13/08/2020 | 14/08/2020 | 28/08/2020 |
| 08/04/2020 | Interim | GBP | 0.01775 | 14/05/2020 | 15/05/2020 | 29/05/2020 |
| 18/01/2019 | Interim | GBP | 0.01735 | 13/02/2020 | 14/02/2020 | 28/02/2020 |
| 18/01/2019 | Interim | GBP | 0.01735 | 07/11/2019 | 08/11/2019 | 22/11/2019 |
| 30/10/2019 | Interim | GBP | 0.01735 | 07/11/2019 | 08/11/2019 | 22/11/2019 |
| 18/01/2019 | Interim | GBP | 0.01735 | 08/08/2019 | 09/08/2019 | 23/08/2019 |
| 18/01/2019 | Interim | GBP | 0.01735 | 09/05/2019 | 10/05/2019 | 24/05/2019 |
| Top Posts |
|---|
Posted at 24/4/2024 21:58 by nickrl @marktime there was a factsheet released couple of key points-Q1 generation 15% below budget reflecting lower availability (including a grid outage at Hornsea 1) and low wind resource -Net cash generation of £127m -Payment of £79m dividend in respect of Q4 2023 (3.43p per share, bringing 2023 dividend to 10p) -13.8m of share buybacks during the quarter, 20.4m shares repurchased in total at a cost of £28m -Additional 1.24p per share for 2023 dividend, and buybacks, have returned £57m to shareholders since October 2023 Surprised wind generation down so much as the battery boys have been saying their improved revenue has come from higher wind so maybe most of it was from Hornsea. Anyhow cash generation still good and certainly the daily system price has been well above £50/MWh ytd. |
Posted at 24/4/2024 19:08 by marktime1231 Well we got the 2.5p dividend but a 4p or so decline in NAV. Nothing about current trading or things like how much in cash we are, unless it was discussed at the AGM. I wonder what the NAV bridge looks like, is it in the linked doc? Not quite the boost to share price I was hoping for, not yet anyway.Expressing surprise that 11% voted for winding up. It will not surprise me in fact I will be laughing if that is because some folks blindly ticked Yes to all resolutions not realising the need to say no to 17. One to remember when reviewing the performance of the secretariat and investor relations who bungled the voting format. I can't imagine significant investors genuinely seeking to wind up UKW given its performance and outlook. |
Posted at 23/4/2024 15:44 by marktime1231 Hoping tomorrow's AGM statement of NAV, dividend (2.5p?) and perhaps something about how well UKW have traded recently is positive enough to sustain this welcome return to the 140's. |
Posted at 15/4/2024 13:38 by nickrl @rongetsrich im no so sure they wouldn't as they benefit hugely currently (which im not compalining about) from wholesale cost being linked to gas in most settlement periods thus the mantra of renewables are cheap isn't being realised. There still looking into changing the way the leccy market works under the REMA (Review of Electricity Market Arrangements ) and one option is zonal pricing which could be quite detrimental to UKW with high concentration of wind in Scotland. It won't impact the existing subsidy arrangements so UKW reasonable well insulated if the average price falls across the portfolio but its a cloud hanging over it. Labour will want to push into the area of lowering costs but also their desire to for faster green energy will act as a restraint so all round probably will be neutral in the long run but markets care fickle when it comes to Labour and what they might do. |
Posted at 28/3/2024 13:47 by marktime1231 Ian Cowie backing his own personal investment in UKW, using the excuse that Labour's pledge in Wales (until they backtrack?) to invest in tethered offshore wind is supportive of the sector followed by a rosy review of past performance.There should be better argument in favour of UKW ... its performance and outlook, the sustainability of its progressive excellent yield, a wide and hopefully temporary discount, large scale, strong backing, mostly long term cheap debt, the wind picking up, the prospective decline of other forms of generation, in built price indexing, a pending investor influx when interest rates fall and other sectors decline, etc etc etc Still if this draws attention going in to the new ISA season all well and good. |
Posted at 26/3/2024 15:07 by marktime1231 I wonder if some of the dampener here is due to OFGEM saying it is investigating the level of compensation claimed by wind farms when generation is curtailed. Since OFGEM is judge and jury it probably means they think wind farms have been overcharging, perhaps some of the super surplus cash flow which UKW enjoyed during the price spike needs to be handed back.From memory OFGEM have demanded money back from the likes of SSE and NG of the order of £5-10M. You would think the scale of any such issue for UKW would be lower and in any case the consequence can be absorbed, but the threat and the uncertainty still does damage. |
Posted at 21/3/2024 12:48 by marktime1231 A positive research note from Kepler (paid for?). I didn't spot a target price, but there is an implied share price uprating of 10-20% due from closing the discount and the ongoing opportunity to strengthen NAV using free cash flow which continues to comfortably cover the dividend eg by acquisition, debt reduction and buybacks.And a good observation that the progressive dividend will continue to be covered even in a weaker power price environment and even if some parcels of debt have to be refinanced at higher rates. I am happily reassured UKW remains a standout pick in the renewables sector, but frustrated that the share price does not reflect performance or outlook. Sufficiently overinvested here not to want to add further so its a case of waiting for common sense to prevail and happily banking the excellent dividend income. |
Posted at 01/3/2024 16:18 by mwj1959 Having read through the presentation and the report all seems ok to me, particularly the sustainability of the dividend. The level of gearing appears reasonable in the current environment, albeit they shouldn't be complacent about it and make efforts to reduce where feasible / appropriate. The size of the discount is frustrating and there will be a continuation vote if the share price trades at a an average discount of 10% or more over a 12m period. So there is work to do there, even if I suspect the risk of a no vote is low. At the end of the day UKW has been a flagship trust in the Renewables space, delivering both NAV and dividend growth. |
Posted at 26/10/2023 13:31 by marktime1231 The board sharing our frustration at the wide discount to NAV, which has held up at 166p thanks to the most recent acquisitions. Emphasising the quality of cash flow, covering the previous dividend x 2, and that was before the latest additions added 10% to income generating capacity.A canny move then to announce a "special" dividend uplift to 3.43p in the next quarter, when the coffers will be overflowing. 10p next year is 7.5% on a 130p share price when it was announced, and puts UKW firmly in the high yield bracket. And an immediate buyback, a modest c. 3% of capital but will add more than 10% to typical daily trade. That is impressive total return for not much risk. I'm sure the UKW board would like to continue adding assets from free cash flow when choice targets become available. I suspect even after today's announcements there could be around £100M pa surplus, but not so much borrowing headroom perhaps. So I don't think this signals the end of ambitions to expand, but for now the priority is to try and restore shareholder value. Let's hope this stimulates a share price recovery, if not from institutions then retail investors, surely UKW will be top of the tips this weekend. |
Posted at 29/7/2023 08:50 by masurenguy Greencoat UK Wind continues dividend hike record into 10th year despite lower wind in first halfGreencoat UK Wind PLC (LSE:UKW) increased its first-half dividend 13.5% on a year ago, even though low wind meant generation was below target. A pay-out of 2.19p per share was declared for the second quarter, the same as the first, resulting in a 4.38p dividend per share for the first half of 2023, up from 3.86p a year earlier. From its portfolio of 46 operating UK wind farms, net cash of £204mln was generated during the half-year, the investment trust said, compared to £328.8mln at the same point last year. The portfolio generated 2,088 gigawatt hours (GWh) of energy during the period, powering 1.8mln homes and avoiding the emission of 2.1mln tonnes of CO2 per annum, the company said, although generation was 18% below budget. A further 355 megawatts (MW) of investments are due to complete in the third quarter, including investing £444mln into London Array offshore wind farm and £320mln into South Kyle wind farm, with the former deal sealed on Monday and the latter investment agreed three years ago. Along with the completion of the Kype Muir extension, 355MW of net generating capacity will be added to the portfolio, taking it to over 2GW. Due to higher Bank of England interest rates, the company said it has continued to increase its discount rate and thus returns to investors, with a forecast 10% return to investors including reinvestment of excess cash generation in addition to the dividend yield. As a result of the increase in the discount rate and lower short-term power prices, partly offset by higher short-term inflation and valuation gains from recent and committed investments, NAV decreased in the period to 165.8p per share at the end of June from 167.1p at the end of December. Chair Lucinda Riches noted that dividends were covered 2.1 times in the period and that in the decade since its IPO, “the company has increased its dividend in line with RPI every year with excess cash generation being reinvested to drive NAV growth above RPI, now delivering returns to investors of 10%”. The outlook, she said, is “extremely encouraging”, with the trust operating in “a mature and growing asset class and with our market leading position and self funding business model, we are well placed to capitalise on NAV accretive investment opportunities and continue delivering superior returns to shareholders”. |
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