Bellevue Healthcare Dividends - BBH

Bellevue Healthcare Dividends - BBH

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Stock Name Stock Symbol Market Stock Type
Bellevue Healthcare Trust Plc BBH London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
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0.80 0.47% 170.00 10:17:09
Open Price Low Price High Price Close Price Previous Close
170.00 170.00 170.00 169.20
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Industry Sector
HEALTH CARE EQUIPMENT & SERVICES

Bellevue Healthcare BBH Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
07/07/2022InterimGBX3.2330/11/202130/11/202221/07/202222/07/202202/09/20220
28/02/2022FinalGBX3.0130/11/202030/11/202117/03/202218/03/202228/04/20226.03
19/07/2021InterimGBX3.01530/11/202030/11/202129/07/202130/07/202103/09/20210
01/03/2021FinalGBX2.530/11/201930/11/202025/03/202126/03/202130/04/20214.92
21/07/2020InterimGBX2.4230/11/201930/11/202030/07/202031/07/202028/08/20200
21/02/2020FinalGBX2.4330/11/201830/11/201905/03/202006/03/202009/04/20204.85
17/07/2019InterimGBX2.42530/11/201830/11/201925/07/201926/07/201930/08/20190
15/02/2019FinalGBX230/11/201730/11/201828/02/201901/03/201928/03/20194
12/07/2018InterimGBX230/11/201730/11/201826/07/201827/07/201824/08/20180
14/02/2018FinalGBX1.7530/11/201630/11/201722/02/201823/02/201829/03/20183.5
20/07/2017InterimGBX1.7530/11/201630/11/201703/08/201704/08/201731/08/20170

Top Dividend Posts

Top Posts
Posted at 21/12/2022 15:45 by speedsgh
5.99p target full year dividend for FY23...

Target total dividend - HTTPS://www.investegate.co.uk/bellevue-healthcare--bbh-/rns/target-total-dividend/202212210700053744K/

... For the financial year ending 30 November 2023, the target total dividend will be 5.99p per ordinary share, this being 3.5 per cent of the unaudited net asset value per ordinary share of 171.16p per ordinary share (including current financial year revenue items) as at 30 November 2022. The Board intends to declare an interim dividend of 2.995p per ordinary share, being half of the target total dividend for the financial year ending 30 November 2023, in July 2023 and intends to pay this dividend in August / September 2023. The Board intends to propose a final dividend of 2.995p per ordinary share for the financial year ending 30 November 2023, in February / March 2024 and intends to pay this dividend in March / April 2024.

The Company pays dividends from a combination of available net income during the financial year and other distributable reserves. It is currently anticipated that most of the target dividend for the financial year ending 30 November 2023 will be financed from other distributable reserves of the Company. This announcement of a target dividend for the financial year ending 30 November 2023 should not be taken to imply a profit forecast by the Company.
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Posted at 10/12/2022 17:27 by jonwig
Review of BBH and sector:

https://www.trustintelligence.co.uk/investor/articles/features-investor-why-healthcare-stocks-are-here-to-stay-dec-2022
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Posted at 05/11/2022 21:53 by rambutan2
Re redemption, from the latest monthly:

October sees the opening of the Trusts annual redemption window. This closed on 2nd November 2022. We have offered this ungated facility, which allows investors to redeem shares at a valuation close to NAV, since inception. In previous years, the take-up has been de- minimis and we have been able to place the redeemed shares in the market rather than cancel them or hold them in treasury.

This year has seen a much higher take up for redemptions than in prior periods, with some 30.6 million shares tendered (5.2% of the outstanding capital). We have received some feedback from several larger wealth managers that they are centrally reducing exposure to investment trust products more broadly in order to have improved daily liquidity and this may have played a role in the larger redemption amount.

We would remind our readers that there is an open-ended UCITS version of the strategy (the WS Bellevue Healthcare Fund) if you are needing to reduce investment trust holdings but still want to retain exposure to the same underlying investments. Unlike the Trust, the Fund does not pay a dividend. Depending on each reader’s situation, there may be other suitability factors that need to be taken into account and it may be necessary to take independent financial advice.

It is very unlikely that such a sizeable redemption amount can be placed into the market and so these shares will in effect be bought in. However, the liquidity of the underlying portfolio is such that we can easily manage to realise the cash without the need to create a redemption pool.

Your managers remain convinced of the long-term opportunity for the portfolio and, as has been the case throughout the year, continuing to add to their personal holdings in the Trust.

htTps://www.rns-pdf.londonstockexchange.com/rns/4291F_1-2022-11-4.pdf
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Posted at 12/8/2022 20:08 by xtrmntr
The managers of investment trust Bellevue Healthcare are confident the future of the global healthcare industry is a bright one. Ageing populations across the world and the exponential growth in chronic illnesses mean demand for healthcare services is here to stay, irrespective of any economic downturn. So confident are the management team that since the start of the year, they have used £80million of low-cost borrowings to increase the trust's holdings in equity markets. The two individuals overseeing the £1billion portfolio – Paul Major and Brett Darke – have also been busy buying more personal shares in the trust, a sure-fire sign that they believe the outlook is more positive than negative.'Of course, as an investor in equities, you can't dismiss the Putin factor,' says Major, 'Or for that matter, geopolitical tensions in the South China Sea. ''It explains why we have kept some powder dry just in case something happens which causes share prices to plunge sharply and suddenly. If that happened, we would use the borrowings we have yet to employ to buy even more shares in the companies we own. 'The fact remains that many of the companies we invest in are super-resilient businesses that will keep on growing. They provide a degree of certainty in an uncertain world. The trust is invested in 29 healthcare stocks, most listed in the United States. 'We keep an eye on some 250 companies,' says Major. 'Most are small to medium-sized businesses doing extraordinary things in the healthcare sector. But their share prices have been hit by the general slide in US equity values over the past nine months.' Bellevue's numbers confirm this. Over the past year, the trust has recorded losses of nearly 9 per cent. This compares with five-year gains of 73 per cent. 'Our job is to find companies that can deliver healthcare solutions, whether it is in disease prevention, diagnosis, treatment or recovery,' says Major. Among the trust's top 10 holdings is CareDx, a US company that provides at-home testing kits to people who have had a major organ transplant. 'The tests help reduce the risk of organ rejection,' says Major. 'They are able to identify any adverse impact on the replacement organ as a result of the drugs being used – and any weakening of the immune system that could trigger other conditions.' The investment trust has had a holding in CareDx on and off over the years, but reinvested in the company in September last year. Another big fund stake is in Axonics, a business that has developed a small electronic implant that helps people who suffer from involuntary leakage of the bladder or bowel. The implant sends out a current that stimulates nerves that control the bladder and bowel, stopping leakage. When someone wants to use the toilet, they deactivate the implant through a hand-held switch. Quarterly financial results for Axonics, released last week, showed a 50 per cent increase in company revenues, compared to the same period last year. The trust has a stock market identification code of BZCNLL9 and a ticker of BBH. Annual charges total 1.1 per cent. Given its specialist nature, it is a fund that should only form a small part of an investor's portfolio. One attractive feature is that it pays a regular dividend, equivalent to around 3.5 per cent per annum. The latest interim dividend of 3.235pence compares to last year's payment of 3.015pence and a share price of £1.74.
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Posted at 07/7/2022 21:02 by rambutan2
Also, interims to 31 May released:

https://uk.advfn.com/stock-market/london/bellevue-healthcare-BBH/share-news/Bellevue-Healthcare-Trust-PLC-Half-year-Report/88538423
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Posted at 26/5/2022 05:51 by jonwig
dlp - the asset managers in their monthly factsheets believe the shares are seriously undervalued, and make a good case for that. It's not as though BBH are the only one in the sector suffering! See link in #92.
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Posted at 25/5/2022 20:36 by dlp6666
I'm holding this as a diversified way to gain income in what seemed to be reasonable growth area.

Do other holders think BBH will come good, or is it time to ditch?

Thanks
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Posted at 22/3/2022 20:39 by speedsgh
BB Healthcare ups gearing to tap into small stock weakness - HTTPS://citywire.com/investment-trust-insider/news/bb-healthcare-ups-gearing-to-tap-into-small-stock-weakness/a2381115

BB Healthcare (BBH) has changed its name but kept faith in smaller healthcare companies after the sector selloff by increasing its borrowing to take advantage of lowly valuations.

The £1bn closed-end fund, which has rebranded as Bellevue Healthcare Trust, suffered as the healthcare sector endured its longest selloff since 1994. It had been the darling of the pandemic, but small and medium-sized stocks suffered the worst of the recent downturn in sentiment.

Commenting on the investment trust’s recent annual results, fund managers Paul Major and Brett Darke were stoical about the damage the falls have done to their portfolio and said they planned to increase the gearing – or borrowing – in the fund to snap up stock bargains.

BBH reported a 10.3% total investment return for the year to 30 November, which lagged the 16.3% rise in the MSCI World Healthcare index, and the defensive sector fell further behind the MSCI World index, which advanced 23.3%.

This year has proved difficult. The shares are down 10%; the 12-month return, including dividends, has shrunk by 4.2% due to a ‘violent intra-sector rotation’ in response to high inflation; while rising interest rates, a tech selloff, and war between Russia and Ukraine have darkened the outlook for global economic growth.

Major and Darke said they were ‘somewhat lost for a compelling explanation’ as to why healthcare had shouldered such a heavy burden, although the trust’s five-year performance remains credible: a total shareholder return of 83% beats the MSCI World Healthcare return of 70%.

‘Nothing fundamental has changed in the last four weeks, or even four months,’ they said. ‘There are more people alive than before. They are older and they will get sick, with increasingly complex conditions – these are irrefutable truths.

Gearing, which stood at 4.9% of net asset value on 30 November, has doubled to 10%, according to data from Numis Securities.

‘If the last two years have taught us anything, it is that everything changes very quickly in such a febrile environment,’ the managers said.

Despite the year-to-date fall, the trust has avoided falling to a discount enabling it to issue £18.6m of shares, which combined with the £35.1m increase in borrowings has given them the cash to add to existing holdings and add three new companies ‘one each in tools, diagnostics, and medical technology subsectors’, though they did not disclose the names.

‘One of these is a repurchase of a company that we have owned before but exited on valuation grounds,’ they said.

In a post-results briefing this month, Major (above) said the healthcare sector was the best hedge against inflation, citing its strong performance against gold and the consumer prices index over the last 25 years, with the exception of the financial crash in 2008 when gold performed better.

Major, who also runs the WS Bellevue Healthcare open-ended fund with Darke, was optimistic about the sector that spends $10tn globally, buoyed by continuous and reliable demand, which will be boosted by ageing populations suffering from chronic pain.

‘While people talk about inflation and stagflation, the data is unarguable: the best hedge you’ve got against inflation is to buy the one thing that nobody wants to consume, but has no choice and will consume: healthcare,’ he said.

While the managers are anticipating a bounce-back in healthcare stocks, they said market corrections ‘can go on for much longer than one may realise’, citing the 2000 tech crash as a ‘classic example of prolonged suffering’.

‘We cannot be confident that the mid-cap healthcare rout is close to its denouement, but we can objectively discern value when we see it, and that time is now,’ they said.
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Posted at 02/3/2022 10:27 by speedsgh
Results analysis from Kepler Trust Intelligence - HTTPS://www.investegate.co.uk/bb-healthcare-trust--bbh-/rns/results-analysis-from-kepler-trust-intelligence/202203020911533612D/

The team behind BB Healthcare Trust (BBH) are bullish on the long term outlook and gearing up after big falls in share prices among healthcare stocks.

We spoke to the managers shortly before the trust released its final results for the year ended 30 November 2021, on Monday this week, and they described what they see as a 'fantastic relative opportunity' for investors in the sector after a punishing year.

The trust delivered NAV total returns of 10.3% over period, underperforming the MSCI World Healthcare Index total return (GBP) of 16.3%. Share price total returns over the period were slightly higher, at 11.4%.

The board has proposed a final dividend of 3.015p per ordinary share in respect of the financial year ended 30 November 2021 and, if approved at the forthcoming AGM, this will bring the total dividend for this year up to 6.03 - ahead of the previous year's. For the year ended 30 November 2022 the board is proposing a total dividend of 6.47p per ordinary share.

Kepler View

While BB Healthcare has clearly had a difficult and frustrating year, our view is that the trust has been hit by the indiscriminate sell-off in markets we have experienced - especially felt amongst mid and small cap stocks to which BBH is largely exposed.

When we met the managers last month they told us it was their view that "history will look back on this moment as a fantastic relative opportunity for long-term healthcare investors", and we note that the team - who have typically used gearing sparingly - have increased the level of gearing to c.10%, underlining their bullishness.

BBH offers a complimentary exposure to equity income investors, with an attractive level of dividend derived from capital, and an underlying exposure that is very different from typical income exposures to the healthcare sector…

HTTPS://www.trustintelligence.co.uk/investor/articles/news-investor-results-analysis-bb-healthcare-retail-mar-2022#
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Posted at 03/12/2021 11:16 by speedsgh
Target total dividend - HTTPS://www.investegate.co.uk/bb-healthcare-trust--bbh-/rns/target-total-dividend/202112031104355334U/

As stated in the Company's IPO prospectus and in the Company's prospectus dated 5 November 2018, the Company aims to target a dividend each financial year equal to 3.5 per cent of the Net Asset Value as at the last day of the Company's preceding financial year.

The Company intends to pay dividends on a semi-annual basis, by way of two equal dividends, with dividends declared in July and paid in August / September and proposed in February / March and paid in March / April in each year.

For the financial year ended 30 November 2021 the Company paid an interim dividend of 3.015p per ordinary share in September 2021 and in due course the Board is intending to propose a final dividend of 3.015p per ordinary share.

For the financial year ending 30 November 2022, the target total dividend will be 6.47p per ordinary share, this being 3.5 per cent of the unaudited net asset value per ordinary share of 184.91p per ordinary share (including current financial year revenue items) as at 30 November 2021. The Board intends to declare an interim dividend of 3.235p per ordinary share, being half of the target total dividend for the financial year ending 30 November 2022, in July 2022 and intends to pay this dividend in August / September 2022. The Board intends to propose a final dividend of 3.235p per ordinary share for the financial year ending 30 November 2022, in February / March 2023 and intends to pay this dividend in March / April 2023.

Randeep Grewal, Chairman, commented:
The Board is pleased to announce that this is the fifth consecutive year of dividend growth for the Company, with an 84.9% increase in distributions over the past five years and a 7.3% increase on last year's level of distribution.
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