Shires Income Share Discussion Threads

[aleman] 01/8/2007 15:49

The Net Asset Value of Shires Income plc as at close of business on 31 July 2007
was 310.1p.

[belize1971] 15/5/2006 08:31

This is being sold off hard today! Down 6% at this precise moment!
Almost tempted to get back in!

[isa23] 11/5/2005 16:27

and it comes with a near 5% discount!! At 241 it yields about 8%!!!

[superjock] 05/5/2005 15:01

Just topped up can't see them at this price for long.

[enochthenocker] 20/5/2004 15:52

Me too for a few thou - and it seems they get such a high yield through fixed income investment

"...while fixed income gearing rose, from 24.8% to 26.8%; This reflects additional investment during the year in the fixed income securities which make a major contribution to achievement of the Company's income objective."

Does anyone know what fixed income 'instruments' they use to get these yields?

[superjock] 20/5/2004 11:54

jonwig I agree with the promised dividend and discount at this level I'm having some more.

[jonwig] 20/5/2004 08:14

I'm pleased to see I was wrong about the divi: expected to be maintained next year, and just about covered. Since I'm a holder (rather a lot!) it's a relief. If the discount doesn't narrow or vanish after these figures, I'll be in the market for more.

[jonwig] 14/5/2004 16:48

But see post No19 - will it pay the divi in future years? I just can't get the revenue figures to manage to cover it: unless they take on more gearing to afford it. finals are due later this month: look at the cover on the dividend. SHRS invests in shares and convertibles yielding 3-6%. Tell me how to conjure a payout of 19.25p when you've studied the figures.

[superjock] 14/5/2004 12:03

At this price this has got to be gods gift, if cash is king then Shire must be a king & queen.

I can't find another share that pays this amount of divi at a discount to N.A.V.

[jonwig] 13/2/2004 11:10

Trouble with SHRS is the gearing - being highly geared meant they could afford the very high divi payout, but at the expense of NAV in a falling market. When they ditched a slice of the gearing last year they reduced exposure to more market falls, but there's no doubt the dividend is now at risk. They have stated that the current year's payout will be maintained, but it won't be covered by earnings on the reduced gearing. I back-of-envelope reckon about 12p is affordable. On the plus side, NAV is more secure, and the company does seem to be repositioning itself in the income-growth sector.

[enochthenocker] 26/9/2003 10:30

Took profits today, don't trust the market at the moment. Anyway they've had a damn good run and are above NAV. Will probably buy back when I'm more confident of another bull run.

[jhurst] 08/9/2003 18:24

This it company has been paying divis at an increasing level consistently for the last 20 years. Brokers tried to put me off in the past, but I have a suspicion not for altruistic reasons, I have been in and out at various times, including when they had warrants Regrettably short of cash I didn't get back in until £2.00. still a clear profit of 15 % in 6/7 weeks, and as sourpete points out it still pays 9% in divis, Historically in good times it has traded at around 10% premium to nav. Safe sound and not spectacular, but a good home for a chunk of your assetts, if you can buy at anywhere near n.a.v. and certainly lower.

[bigbobjoylove] 06/6/2003 13:33

holds a big stake in CWG does'nt it??

[enochthenocker] 03/6/2003 12:20

Continuing its climb but still yielding over 10% !!

[enochthenocker] 24/5/2003 01:30

Getcher luverly Shires income shares here - still yielding over 10% --- yer'll never see the like agin!

I also do a very, very nice line in snake oil.

Seriously, the guys running this IT are very well respected and we could see a 80% gain over the next year as they come back into favour with the market.

[enochthenocker] 17/5/2003 01:19

Highly geared recovery play yielding 11% and moving up fast (maybe) !!

I hold and am ramping them!

[enochthenocker] 06/5/2003 11:21

NAV of 195p but the share price is only 148p (but starting to move up).

[thurstonland] 11/2/2003 10:19

If the financials recover this could be a decently geared play.

[asmodeus] 04/2/2003 10:34

I have just looked at Shires report, and see that John Stubbs and Hamish Buchan are directors. I know that Hamish Buchan is oine of the foremost experts on split-cap trusts (of which Shires is not one), and that John Stubbs is a well-repected ex investment manager for Ivory & Sime, amongst others, and so feel that the appalling share-price performance might well be reversed - if any geared investment trust performance ever recovers again. I'm certainly tempted by the yield and discount.

[gillianfrazer] 28/1/2003 14:24

Gearing of 172% and heavily into financials - I think it has a loan outstanding repayable in 2007?

Interesting if you fancy financials oversold and markets near the bottom?


Financials 43.8
Cyclical Services 22.7
Non Cyclical Consumer Goods 15.1
Utilities 8.2
Basic Industries 6.4
Non Cyclical Services 1.9
Information Technology 0.1


Any views anyone?

[m.t.glass] 27/1/2003 09:23

I think you'll find that 10% of something which has halved in price is the same as 5% before it did so.. Not a pleasant trade-off if you bought for the divi and lost half your capital. I'm short for further decline.

[maxheadroom] 24/1/2003 09:08

And it's now gat a yield over 10%