|The Renewables Infrastructure Group
||EPS - Basic
||Market Cap (m)
Renewables Infrastructure Group Share Discussion Threads
Showing 126 to 148 of 150 messages
|"Another infrastructure fund offering a good yield to investors: The Renewables Infrastructure Group, Trig to its friends. The company buys wind farms and other assets and then raises cash to pay off debt. It is in advanced discussions to buy two more, an onshore wind farm in Powys, Wales, and a battery storage project in West Lothian, Scotland, with a combined value of about £100m. Trig is raising another £50 million, or more if it can, by means of a placing. The forward yield is a bit above 6"%"
Placing at 103p due to take place at the end of this month.|
|Those were good results so did a top up this morning. The 10K shares at 8.04 this morning were mine at 1.06192 but ADVFN has marked this as a sale. Prospective (2017) yield is over 6%.
BUT ... it is worth noting this statement
"While TRIG benefits from support scheme revenues which are generally inflation-linked and currently comprise the majority of the portfolio revenue, the shape of cash flows will also be affected, in particular, by the outlook for electricity prices as well as by other factors. As previously stated, TRIG's distribution policy assumes, in particular, steady growth in UK and European wholesale power prices and on-target operating performance. After successive falls in power price forecasts since launch, future dividend increases may trend beneath inflation unless there are sustained real long-term increases in power prices. The Board will keep TRIG's distribution policy under review, taking into account these factors as well as the prevailing rate of inflation and their impact on dividend cover when considering whether it would be prudent to move to a progressive dividend policy rather than one directly linked to inflation in the future."|
|Final results announcement.
· Total shareholder return for the year of 15.7% on a share price basis and 9.3% on a NAV basis
· Profit before tax of £67.9 million (2015: £17.0 million), reflecting an uplift in portfolio valuation1
· Earnings per ordinary share of 8.8 p (2015: 3.0p)
· NAV per ordinary share2 of 100.1p (2015: 99.0p)
· Directors' portfolio valuation of £818.7 million3 (2015: £712.3 million)
· Achieved total distribution target of 6.25p per share for the year4 (2015: 6.19p) and moved from semi-annual to quarterly dividends
· Portfolio generation capacity increased by 8% to 710MW with a total of 53 investments in the UK, Ireland and France
· Launched second share issuance programme and raised £93 million of new equity capital
· Pipeline of further attractive investment opportunities under consideration across multiple technologies and markets
· Shareholders approved increasing the investment limit for technologies beyond onshore wind and solar PV from 10% to 20%
· Targeting an aggregate dividend of 6.40p per share for the year to 31 December 2017|
|Picking up with the oil price (?) ?at 108.|
|That's fair comment, but the upcoming growth area is probably offshore wind, where TRIG isn't represented (iirc). John Laing Group [JLG] seems to be developing some expertise there.|
|It seems to me that this share is a down side protected option on a rise in oil prices and thus energy prices overall.Within 2 to 3 three years the effects of the huge cut back in exploration and thus replacement oil supplies will give rise to a sharp pick up in oil prices..|
|Interesting results. It does seem that this share (and UKW) are a bit toppy.
I don't think that the gov't can do much about the FIT but there is scope in the upcoming rate review to do something nasty.
Have just sold my UKW by the way as I was sitting on a 15% gain. Hope to buy them back at a lower price in the next six months - I shall have to wait and see whether this was a good move - but they do seem to have fallen into the same pattern as other shares of an annual move (up and down) of 10% or so in the share price.|
|I have come to accept that unlike some of my other "safe" income sources such as HICL JLIF and UKW this one is not going to offer any capital growth in the near future.
Once I adjust my brain to think of this as a Preference share with a bit of income growth I am happy !|
|Interim results are out.
SP of 108p vs NAV of 97p gives a premium of over 11%. Yield chasing?
They've confirmed annual dividends of 6.25p which at first sight aren't covered by eps. As the accounts (complex enough!) explain, though:
Cash received from the portfolio by way of distributions was £30.8 million. After operating and finance costs, net cash flow of £26.0 million covered the cash dividend paid in March in respect of the six months to 31 December 2015 by 1.3 times, (or 1.6 times, factoring in amounts invested in the repayment of project-level debt - with the amount repaid, net of cash deposits, at the project level amounting to an additional £7 million, as set out more fully in the Interim Management Report).
I'm fairly confident nothing serious will impact dividends in 2017 (reduced FITS?). Though I wouldn't buy more at this premium, I can't see reasons to sell.|
|Thanks for that. Had a look at all the other companies. As mentioned before I have invested in JLEN which I am happy with. Looking at all the others on the list like the look of TRIG as it has a balance of wind and solar and has less debt than some of the others. They all seem to be moving to quarterly dividends. Which if reinvested make for a sound, safe and boring investment.|
On the listed side I have FSFL, BSIF, JLEN, NESF, TRIG, and UKW. Highest Yielder is BSIF @ 6.8%. Quite like FSFL as the long term money they have borrowed (at a good rate) should be earnings enhancing without jeopardising the NAV.
On the VCT side I have VEN and rather a lot of VEN2 bought when prices were much lower than they are today. They yield respectively 7.77% and 7.39 % and of course are already tax sheltered. I bought these for quite a bit less than the current price. If the board do their job as they have said they will, there is still upside but boards of VCTs are rather good at finding excuses for poor performance.
VCTs of course don't buy assets they have shares (&loans) in companies that build and later run assets. Unlike other VCTs these two cannot invest any more money in assets of this kind so they can just pass on the dividends etc to investors without adding any more risk capital. There is considerable scope with both of these to do some financial engineering to enhance returns.
kind regards - BBB|
|A0002577That's a good safe investment strategy you have there. I recently bought JLEN and am tempted by TRIG too. What other renewable energy funds for you have?|
|All my green infrastructure shares are in tax sheltered environments - thank goodness. I am not macho enough to want to see an increase in share price - does me no good as I want the income and if they are low then I can buy more at a lower price. So when I have divis to reinvest I just pick the highest yielder (preferably below NAV) and go.
As to foreign dividends - they are a B nuisance. The better half has plenty and expects me to do her tax return. I have none!|
I've checked back and didn't pay sd on my TRIG purchase. It was another share where a dispute arose. Serves me right for relying on memory.
Regarding foreign dividends, if your shares are within an ISA it doesn't matter where the dividends originate. If not in an ISA, you should receive an annual tax document from your broker which will show country of origin of dividends. This is needed for your SA tax return if you do one.|
|Stamp Duty : Top of page 130 of the admission document
Provided that Ordinary Shares are not registered in any register of the Company kept in the UK and are not paired with shares issued by a UK company, any agreement to transfer Ordinary Shares should not be subject to SDRT. The Company does not intend to maintain a share register in the UK
My broker was YouInvest - check with yours as to SDRT. As to the dividend tax, I guess we will have to wait and see what HMRC actually does - their guide makes no mention of where the dividends originated.|
|Stamp duty: see July 2013 admission document, page 129.
Nor did I pay stamp duty when I first bought. A couple of days later my broker issued a revised contract note which included sd.
Country of registration, laws of incorporation and tax domicile not the same as country (or countries) in which shares are traded.
(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008 with registered number 56716|
|but, strangely for a GGY stock, stamp duty is payable
Last lot I bought had no stamp duty. And they have already been down to 95 this year. They are listed on the LSE so cannot really see how they could be a foreign dividend.|
|Thanks jonwig. Thankfully most of my shares are in an ISA. Keeps it simple.
Recently bought JLEN - but have my eye on TRIG too.|
|GGY Guernsey-registered. Overseas dividends on your self-assessment form.
If not in an ISA, I believe (not sure) that overseas dividends don't count as part of your £5k allowance. In other words, they'll be taxed appropriately at 7.5% or more. (In any case, best to have these tax-protected!)
Inside an ISA or SIPP doesn't matter.|
|What's a GGY stock?|
|The subscription price is now hardly different from the market price, and the NAV reduction at 31 March is a bit off-putting. It may well be possible to pick up some shares below 101p in due course (but, strangely for a GGY stock, stamp duty is payable).
A000 ... from the 27 April RNS: With the backdrop of a continued flow of renewables projects from their developer-owners to new long-term owners, as well as a substantial flow of new developments underway across most of the Company's target markets, TRIG continues to assess a broad active pipeline of onshore wind and solar PV projects for potential investment, as well as potential opportunities in additional technologies such as offshore wind.|
|Is the fact that UKW and TRIG both announced a share issuance programme today coincidence or ... Does it mean competition for the assets or are there now so many they will be at a lower price?|
|Read Liberum's note on The Renewables Infrastructure Group (TRIG), out this morning, by visiting hxxps://www.research-tree.com/companies/uk/trusts%2c_etfs_%26_funds/renewables_infrastructure_gr …
“The Renewables Infrastructure Group is proposing to put in place a share issuance programme of up to 300 million new shares (subject to shareholder approval). Net proceeds raised under the share issuance programme will be used to repay the company's acquisition facility (currently £44m drawn) and invest in an active pipeline of opportunities. The pipeline comprises onshore wind and solar assets in addition to further technologies such as offshore wind. An initial issue is expected in early May 2016 following the publication of a prospectus.…8221;|