Shires Income Share Discussion Threads

[aleman] 29/9/2008 16:52

NAV 26/09/08 206.67p (inc. 9.47p acc. income)
Close 189.5p
Discount 8.7%
Yield 10.4%

[aleman] 22/9/2008 16:18

NAV 19/09/08 215.15p (inc. 8.65p acc. income)
Close 198p
Discount 8.0%
Yield 10.0%

[aleman] 15/9/2008 14:14

NAV 12/09/08 220.96p (inc. 6.67p acc. income)
Close 196.75p
Discount 11.0%
Yield 10.0%

[aleman] 12/9/2008 16:58

Shares aren't listening. I reckon todays close is at a discount of around 13%. Shares should be about 15p higher if they recover to an average discount for this year.

[aleman] 11/9/2008 16:29

Discount over 10% yesterday as NAV jumped to highest since early June at 223p. Shares would normally be trading about 10p higher.

[aleman] 08/9/2008 17:35

NAV 05/09/08 210.46p (inc. 5.63p acc. income)
Close 195.5p
Discount 7.1%
Yield 10.1%

[aleman] 04/9/2008 16:08

4 September 2008




Shires Income plc

First Interim Dividend







The Board of Shires Income plc has declared a first interim dividend of 4.4p per share in respect of the year to 31 March 2009 (first interim 2008 - 4.4p) payable on 31 October 2008 to shareholders on the register at close of business on 3 October 2008.







End

[aleman] 02/9/2008 16:02

NAV 01/09/08 218.26p (inc. 5.69p acc. income)
CLose 199.5p
Discount 8.6%
Yield 9.9%

[aleman] 26/8/2008 16:55

NAV 22/08/08 209.34p (inc. 5.7p acc. income)
CLose 199p
Discount 5.0%
Yield 9.9%

[aleman] 18/8/2008 15:51

NAV 15/08/08 212.12p (inc. 4.94p acc. income)
Close 201.5p
Discount 5.0%
Yield 9.8%

[aleman] 11/8/2008 14:27

NAV 08/08/08 210.83p (inc. 4.25p acc. income)
Close 204.5p
Discount 3.0%
Yield 9.7%

[aleman] 04/8/2008 13:26

NAV 01/08/08 198.60 (inc. 3.77p acc. income)
Close 201p
Premium 1.2%
Yield 9.8%

[aleman] 28/7/2008 15:31

NAV 25/07/08 202.44p (inc. 3.82p acc. income)
Close 188p
Discount 7.1%
Yield 10.5%

[aleman] 21/7/2008 13:18

NAV 18/07/08 203.53p
Close 172p
Discount 15.5%
Yield 11.5%

[kiwi2007] 21/7/2008 13:03

Thanks for the explanation jonwig :o)

[jonwig] 21/7/2008 12:35

Hi, Kiwi.

You may be right about the share price in March 2003 - I've got a spreadsheet with 170p on it which may be wrong.

As for options, they say they are writing them, not buying them. - ie. they are a counterparty. Since most options expire worthless, this is a steady stream of premium income.
But there is always the risk that they have to buy/sell at prices way off the market price at the time. Since they write options on their portfolio companies, at least their losses there won't be terminal. (And they can hedge if things look like proving expensive.)

[kiwi2007] 21/7/2008 12:25

I seem to remember buying when they dropped to around 140p in 2003?
I believe that both the impending Iraq II and the fact that institutions were being made to sell equities and buy bonds (since amended) caused the massive drop then?

I believe they also hold 16p in reserves which can be used to maintain the dividend payout if dividend receipts do fall...

Only concern is the amount generated by options in the results - not sure what they are doing there and with them?

[jonwig] 20/7/2008 08:36

The share price is back to March 2003 levels, but the discount then rose to over 20% rather than the current 10%.

The weakness of the share price is doubtless caused (as kiwi points out) by a financials weighting of 40% of the portfolio (O&G is 0%, resources about 7%). If the long-expected sector rotation is beginning, SHRS should be a good way to exploit it.

Chances of that are good, for example, New Star Financial Opps Fund [NST] is up more than 8% over the past few sessions. (NST has similarities to SHRS in that it's geared and has a high yield of nearly 10% currently.)

[kiwi2007] 18/7/2008 15:48

Bought back into these again after reading their finals...



even for a thicky like me they are easy to understand... nice mix of prefs and shares and decent reserves...



a high weighting of financials ought to see them recover a touch..

[aleman] 15/7/2008 00:26

NAV 11/06/08 193.18p
Close 177p
Discount 8.4%
Yield 11.1%

[aleman] 01/7/2008 11:47

NAV 30/06/08 219.31p
Close 206.5p
Discount 5.8%
Yield 9.6%

[aleman] 24/6/2008 00:00

NAV 20/06/08 215.56p
Close 208p
Discount 3.5%
Yield 9.5%

[aleman] 16/6/2008 14:57

NAV 13/06/08 222.59p
CLose 203p
Discount 8.8%
Yield 9.7%

[aleman] 16/6/2008 10:05

1. The Directors recommend that a final dividend of 6.55p per Ordinary share be paid,
making a total of 19.75p for the year ended 31
March 2008 (2007 * 19.25p). The final dividend will be paid on 31 July 2008 to Shareholders on
the register at 4 July 2008. The ex-dividend
date is 2 July 2008.

[pb10] 16/6/2008 09:57

Aleman, can you tell me the next divi date ta
pb