Shires Income Share Discussion Threads

[aleman] 28/11/2008 15:39

Discount getting a bit wide again at around 15%.

[aleman] 24/11/2008 16:58

NAV 21/11/08 137.64p (inc. 6.06p acc. income)
Close 132.5p
Discount 3.8%
Yield 14.9%

[aleman] 19/11/2008 11:53

Maintained dividend on improved cashflow but:

Dividends
A maintained first interim dividend of 4.4p per share was paid on 31 October 2008. It is proposed that a second interim of 4.4p be paid on 31 January 2009. The Company pays a high dividend yield and the Manager monitors dividend generation carefully. To date, the portfolio has experienced a number of dividend cuts; however, it is also the case that some companies have continued to increase their payouts.
Dividend cuts are likely to become more frequent next year as companies face harsher economic conditions. The Board will continue to monitor closely the revenue account and keep the dividend policy under review given the changing
business environment.

[aleman] 17/11/2008 16:49

NAV 14/11/08 155.58p (inc. 5.89P acc. income)
CLose 144p
Discount 7.4%
Yield 13.7%

[aleman] 11/11/2008 13:31

NAV 07/11/08 161.30p (inc. 5.74p acc. income)
Close 147p
Discount 8.9%
Yield 13.4%

[aleman] 06/11/2008 17:27

Discount getting high again. These are being sold off like international shares but UK shares are going up thanks to bigger UK rate cuts. Loss of income to savers makes the 14% yield look a very attractive alternative to cash.

[anubus] 06/11/2008 16:08

P45..............many thanks for info.

[poacher45] 06/11/2008 11:42

Yes you can hold in a ISA
The dividends are paid net and you cannot claim the tax back

[anubus] 06/11/2008 11:30

Aleman...a few questions for you.
(1) can these be held in an ISA?
(2) are the divis paid out gross or if net can one claim back the tax bit?

many thanks on advance.

[aleman] 27/10/2008 16:02

NAV 24/10/08 143.15p (inc. 6.35p acc. income)
Close 135.25p
Discount 5.5%
Yield 14.6%

[aleman] 20/10/2008 19:06

NAV 17/10/08 154.00p (inc. 6.35p acc. income)
Close 145.25p
Discount 5.7%
Yield 13.6%

[aleman] 13/10/2008 18:27

NAV 10/10/08 158.15p (inc. 6.43p acc. income)
Close 152p
Discount 4.0%
Yield 13.0%

[lord gnome] 11/10/2008 18:31

At end of August they has 5.8% invested in RBS and BARCs. There goes a large slug of the dividend.

[pb10] 10/10/2008 12:39

Thanks ale I am still holding but well in the red.

[oniabsta] 07/10/2008 18:32

Picked up another 1300 of these @ 167p, but that's my lot. Built these up to just under 28k shrs. I'm now skint until the divi's come in. :-(
Shame when this market is a bargain of a lifetime, but i'm fully invested.

[aleman] 03/10/2008 01:52

Thanks for that, oniabasta. I had not recorded it. I am used to it being declared later. Shires Smaller Companies only declared today. It is comforting that shares are going up and down (mostly down) but the dividends keep coming.

[kiwi2007] 02/10/2008 23:42

Must admit I prefer this to SDV... just waiting to get in again... thanks for the updates Aleman and all...

[oniabsta] 02/10/2008 19:49

ale - don't forget the 16p in revenue reserve. I personally don't think they will cut this year.

from finals

"In relation to the dividend it is expected that the dividend for the forthcoming year
should be maintained, subject to any unforeseen
circumstances. This should not be taken as a forecast of profits. However, given recent well
publicised dividend cuts by major financial
institutions, the Board will keep this matter under close review in the forthcoming year. It
should be noted however, that the Company has
revenue reserves of 16.0p per share which it can utilise should the need arise."

(By the way the divi was announced on the 4th sep. & went exd. 1st oct.)

[aleman] 02/10/2008 15:56

The next dividend will be announced fairly soon and will go ex-dividend quite quickly for payment at the end of this month. It will almost certainly be held at 4.4p despite the increase in last year's final dividend in July. Given a few banks paying out scrip dividends, I think cashflow will not be as good this year and I expect the final next July will be cut. By how much depends how much worse the crisis in financials gets and when the B of E wakes up to the need to cut rates. They are well behind the curve. We look like getting 0.25% off next week but that will not stop the crisis deepening. They should really be cutting 1%. I would expect we could lose 1p or 2p in total this year. That is what I expected when I bought in many months ago (was surprised at the increased final actually). I am guessing that they will be reluctant to drop it lower than 4 x 4.4p = 17.6p but failure by the B of E to adjust rate policy promptly as conditions have rapidly deteriorated could mean could we get an even deeper cut. The number I post in brackets as accumulated income is an indicator of how this trend develops. So far it doesn't look bad but doesn't look set to get any better for a while.

[pb10] 02/10/2008 14:41

ale When is next divi paid & how much tia. pb

[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.