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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bluefield Solar Income Fund Limited | BSIF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.60 | 1.56% | 104.00 | 16:35:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 103.60 | 103.20 | 104.00 | 104.00 | 102.40 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 26/01/2024 | Interim | GBP | 0.022 | 08/02/2024 | 09/02/2024 | 08/03/2024 |
| 28/09/2023 | Interim | GBP | 0.023 | 05/10/2023 | 06/10/2023 | 06/11/2023 |
| 07/08/2023 | Interim | GBP | 0.021 | 17/08/2023 | 18/08/2023 | 01/09/2023 |
| 11/05/2023 | Interim | GBP | 0.021 | 18/05/2023 | 19/05/2023 | 12/06/2023 |
| 23/01/2023 | Interim | GBP | 0.021 | 02/02/2023 | 03/02/2023 | 03/03/2023 |
| 30/09/2022 | Interim | GBP | 0.0209 | 13/10/2022 | 14/10/2022 | 04/11/2022 |
| 02/08/2022 | Interim | GBP | 0.0205 | 11/08/2022 | 12/08/2022 | 31/08/2022 |
| 04/05/2022 | Interim | GBP | 0.0203 | 12/05/2022 | 13/05/2022 | 13/06/2022 |
| 31/01/2022 | Interim | GBP | 0.0203 | 10/02/2022 | 11/02/2022 | 10/03/2022 |
| 05/10/2021 | Interim | GBP | 0.02 | 14/10/2021 | 15/10/2021 | 08/11/2021 |
| 07/07/2021 | Interim | GBP | 0.02 | 15/07/2021 | 16/07/2021 | 04/08/2021 |
| 05/05/2021 | Interim | GBP | 0.02 | 13/05/2021 | 14/05/2021 | 04/06/2021 |
| 22/01/2021 | Interim | GBP | 0.02 | 04/02/2021 | 05/02/2021 | 01/03/2021 |
| 22/09/2020 | Interim | GBP | 0.0205 | 01/10/2020 | 02/10/2020 | 28/10/2020 |
| 24/07/2020 | Interim | GBP | 0.0195 | 06/08/2020 | 07/08/2020 | 21/08/2020 |
| 30/04/2020 | Interim | GBP | 0.0195 | 07/05/2020 | 11/05/2020 | 29/05/2020 |
| 28/01/2020 | Interim | GBP | 0.0195 | 06/02/2020 | 07/02/2020 | 28/02/2020 |
| 26/02/2019 | Final | GBP | 0.0198 | 03/10/2019 | 04/10/2019 | 01/11/2019 |
| 19/09/2019 | Special | GBP | 0.0063 | 03/10/2019 | 04/10/2019 | 01/11/2019 |
| 19/09/2019 | Special | GBP | 0.0063 | 03/10/2019 | 04/10/2019 | 01/11/2019 |
| 26/02/2019 | Interim | GBP | 0.019 | 09/05/2019 | 10/05/2019 | 31/05/2019 |
| Top Posts |
|---|
Posted at 22/4/2024 23:22 by masurenguy Bluefield Solar Income Fund: dividends whatever the weatherDividends are covered by high levels of regulated, index-linked revenues alongside contracted power sales. Last year, 836,232 MW hours of energy were generated, of which just over 700,000 MWh was from solar. Payments for this electricity amounted to £108m of operational cash flows, minus £18m to service debt, percolated through to £90m of distributable earnings – more than twice covering dividends. So even after paying out dividends, a £58m dividend surplus was carried forward, giving investors extra peace of mind. Funds like Bluefield Solar paid highly attractive, progressive dividends for the first 7 or 8 years after BSIF and its peers floated, with average wholesale prices between £45 to £55 per MWh. Wholesale prices spiked above £500/MWh in 2022 and last December fell back below £100 – but that’s still almost double what the average has been in the previous decade. So to people worrying about how the funds will continue to pay dividends, Armstrong says: “the reality is these funds work very well and can operate very attractively on lower power prices than we currently see.” |
Posted at 21/4/2024 09:16 by masurenguy AJ Bell’s fair value assessment of Bluefield Solar misses the markWe assess the report from 360 Fund Insight that is preventing private investors from buying Bluefield Solar Income on AJ Bell, and find it wanting. AJ Bell’s outsourced assessment by value provider 360 Fund Insight of Bluefield Solar Income Fund (BSIF) has concluded the strategy is not appropriate for private investors because it has ‘worrisome&rsq Holding shares in a portfolio of actual assets delivering largely inflation-linked, government-backed revenues that offer income investors a dependable yield is a different investment proposition to having shares in a portfolio of more than 100 global energy companies. It’s not comparing like for like. 360’s declaration that BSIF’s 8.80p-per-share dividend is ‘aggressive&rs In Bluefield’s own recently published assessment of value, it says the main purpose of the £601m fund is to provide shareholders with an attractive return ‘principally in the form of regular income distributions’ The Kent-based company, which was founded in 2017 by former members of the investment research team at funds platform Allfunds Bank, says it bore in mind that Bluefield is distributed to retail investors with ‘limited knowledge of the risks of investment trusts’, which is laudable. It makes good points that trusts are not held to the same reporting standards as open-ended peers and that several factors can impact a shareholder’s returns, including ‘leverage, liquidity, opaque costs and charges’. It also points out that BSIF’s ongoing charges total 1.94% versus 0.6% for the ETF. Bluefield portfolio manager James Armstrong told Citywire he was very surprised and disappointed to learn through investor feedback that 360’s assessment suggests BSIF does not offer fair value. "Since AJ Bell’s announcement to investors, the BSIF share price has fallen, trading away from BSIF has increased, and many frustrated investors continue to contact Ocorian, BSIF’s company secretary, expressing their confusion over the suggestion that BSIF does not offer fair value. They have also been frustrated by an inability to trade on the AJ Bell platform as a result." he said The tone of the assessment is set when 360 makes the contentious claim in its opening statement that professional investors are better suited to closed-end funds in general. That appears to be a strange comment on behalf of AJ Bell, a retail broker with thousands of customers invested in trusts. The assessment rightly sets out to ensure retail investors aren’t hoodwinked by hidden costs, ‘misleading&rs AJ Bell said: "The assessments consider a range of factors, including cost and performance, in line with regulatory guidance. As with all our processes, [they] will be reviewed periodically and we’ll continue to listen to feedback from customers, regulators and other stakeholders." |
Posted at 25/3/2024 10:23 by fordtin As for AJBell's "Recently, this investment failed a fair value assessment, carried out by the manager of the investment itself."Perhaps you should ask AJBell for a copy of this alledged assessment. If the manager of BSIF really has made such a value assessment of BSIF and determined BSIF to have failed that assessment, why wasn't it issued via RNS? |
Posted at 28/2/2024 10:13 by melody9999 Hi Nerja -I used to work in the sector on the opertional side - getting connections through the DNO's was always time consuming - but BSIF will be on top of that. There is quite a lot in the results - I copied these that may be of interest: Although spot power prices have softened recently, BSIF was the beneficiary of our Investment Adviser's strategy of fixing prices up to 36 months in advance, with the result that, despite irradiation levels some 13% below those experienced in the second half of calendar 2022, our revenues for the Period grew as compared with the previous year. Our ability to convert this pipeline into electricity generating assets is significantly restricted by current conditions in the capital markets, which make it difficult for us - and most participants in the renewable energy sector - to raise additional equity. In response to this constraint, the Company has entered into a Strategic Partnership with GLIL Infrastructure ("GLIL"), covered in more detail below. There is ample transactional evidence of asset values consistent with our latest Directors' Valuation of nearly 136pps, so to see the Company's shares trading at close to £1 per share suggests a serious disconnect between how BSIF is valued by public markets and the prices being paid by institutional investors for portfolios of solar PV and wind assets. |
Posted at 15/2/2024 09:17 by masurenguy NAV Update and £20m Share Buyback ProgrammeDividend Guidance Reaffirmed with Earnings Cover for the Full Year Bluefield Solar (LON: BSIF), the London listed UK income fund focused primarily on acquiring and managing solar energy assets, has today announced the Unaudited Directors' Valuation as at 31 December 2023, equivalent to a Net Asset Value ("NAV") of £831.3 million, or 136.0 pps (September 2023 136.4 pps, June 2023 139.7 pps). Share Buyback Programme The Board notes the recent weakness in the Company's share price and the significant discount that the current share price represents to the value of the Company's assets. Adjusting for the first interim dividend , the closing price of 99 pence per share (as at 14 February 2024) represents a discount of 26% to the 31 December 2023 NAV. In the context of addressing what the Board views as the excessive discount at which the Company's shares currently trade relative to the underlying NAV, the Board announces its intention to commence a share buyback programme. In the first instance it has allocated £20m for the purchase of its own shares. It is expected that any share repurchases will be accretive to NAV per share. The Company expects to announce its interim results for the half year ended 31 December 2023 on Wednesday, 28 February 2024. The Board intends to commence share buybacks following the release of the interims and while the Company's shares continue to trade at an excessive discount to NAV. Dividend Guidance Reaffirmed Shareholders will be aware that the Board of Bluefield Solar has recently declared a first interim dividend for the current financial year of 2.20 pps and has reiterated its target dividend for the full year of not less than 8.80 pps. This represents a dividend yield of 8.9% based on the closing share price of 99p per share on 14 February 2024. The Company's operations remain robust, trading conditions are attractive, and the Board expects this year's dividend to be approximately two times covered. |
Posted at 26/1/2024 07:50 by masurenguy First Interim Dividend AnnouncementBluefield Solar (LON: BSIF) is pleased to announce the Company's first interim dividend for the financial year ending 30 June 2024. The First Interim Dividend of 2.20p per Ordinary Share (January 2023: 2.10p per Ordinary Share) will be payable to Shareholders on the register as at 9 February 2024, with an associated ex-dividend date of 8 February 2024 and a payment date on or around 9 March 2024. The Board is pleased to reaffirm its guidance of a full year dividend of not less than 8.80p per Ordinary Share for the financial year ending 30 June 2024 (2023: 8.60p). This is expected to be covered by earnings and to be post debt amortisation. |
Posted at 26/1/2024 07:49 by fordtin The RNS wasn't flagged by my advfn monitor."Bluefield Solar (LON: BSIF), the London listed UK income fund focused primarily on acquiring and managing solar energy assets, is pleased to announce the Company's first interim dividend for the financial year ending 30 June 2024 (the 'First Interim Dividend'). The First Interim Dividend of 2.20 pence per Ordinary Share (January 2023: 2.10 pence per Ordinary Share) will be payable to Shareholders on the register as at 9 February 2024, with an associated ex-dividend date of 8 February 2024 and a payment date on or around 9 March 2024. The Board is pleased to reaffirm its guidance of a full year dividend of not less than 8.80 pence per Ordinary Share for the financial year ending 30 June 2024 (2023: 8.60 pence). This is expected to be covered by earnings and to be post debt amortisation." |
Posted at 28/9/2023 07:27 by masurenguy Next years annual dividend target of 8.8p represents a yield of 7.4% at the current shareprice and the corresponding discount to NAV of 139.7p is 15.3%.Fourth Interim Dividend Announcement The Fourth Interim Dividend of 2.30 pence per Ordinary Share (September 2022: 2.09 pence per Ordinary Share) will be payable to Shareholders on the register as at 6 October 2023 with an associated ex-dividend date of 5 October 2023 and a payment date on or around 6 November 2023. The Board is pleased to have declared full year dividends totalling 8.60 pence per Ordinary Share for the financial year ended 30 June 2023, compared to a full year dividend of 8.20 pence per Ordinary Share for the financial year ended 30 June 2022. The dividend for the financial year ended 30 June 2023 is more than 2x covered. Furthermore, the Board has set a target dividend for the 2023/24 financial year of not less than 8.80 pence per Ordinary Share. This is expected to be covered by earnings and to be post debt amortisation. John Scott , Chair of Bluefield Solar commented: "I am pleased that, following a year of excellent performance, Bluefield Solar has been able to increase its dividend for the 2022/23 financial year to 8.60 pence per share ('pps'), which compares favourably with our original target distribution of 8.40pps. This represents an increase of 4.9% over the prior year's dividend and, based on a share price of 118.2pps on 26 September 2023, offers a dividend yield of 7.3%." |
Posted at 05/9/2023 14:18 by masurenguy "Bluefield Solar Income (BSIF) has a 10-year track record of producing an average underlying total return from net assets of more than 10%, the second highest in the sector after Greencoat UK Wind (UKW). BSIF shares offer investors a prospective yield of 7.4% and discount of 17.6%. BSIF was also one of very few renewable energy funds to announce an uplift in its NAV at 30 June. That NAV uplift came despite a 0.75% increase in the discount rate used to work out the net present value of BSIF’s future cash flows. BSIF is now using a weighted average discount rate of 8%, which looks sensible to me relative to yields of about 4.6% on 30-year UK government bonds.For the financial year to 30 June, BSIF aimed to generate 8.4p in total dividends per share, and with three quarterly payouts declared it is a safe bet the target will be met. Moreover, the company expects the dividend will be covered twice by earnings after servicing its debt, with substantial earnings growth to follow over the next two years. This is not the sort of confident statement that companies make lightly. When BSIF announces its results at the end of September, it may turn out that this dividend cover estimate will be conservative. BSIF has been able to achieve this by locking in some of the higher power prices that we saw earlier, which gives its board good visibility on BSIF’s future cash flows. Higher-than-expected inflation is a net positive as this feeds through into the subsidy income BSIF earns. Another feather in BSIF’s cap was locking in low interest rates through an interest rate swap. Apart from the actual level of dividend cover, one other key message in the results will be the board’s new dividend target for the current financial year. In recent years, BSIF has hiked its dividend by about 2.5% a year on average. The high level of dividend cover for the June 2023 financial year might encourage the board towards a bigger increase this time or it might choose to use the surplus cashflow to help fund the company’s sizeable investment pipeline. At the end of March 2023, BSIF had about 390MW of solar and 125MW of energy storage in construction-ready projects. Building projects can enhance NAV as they are revalued upwards once they are completed and energised and therefore substantially de-risked. Beyond that, BSIF also had solar projects in planning and substantially more solar and energy storage projects in development." James Carthew: Citywire: 4 Sept 2023. |
Posted at 04/9/2023 14:21 by 18bt Below from a Citywire article on renewables today:BSIF’s good record The contrast with the next-higher yielding fund, Bluefield Solar Income (BSIF) could not be greater. BSIF has a 10-year track record of producing an average underlying total return from net assets of more than 10%, the second highest in the sector after Greencoat UK Wind (UKW). BSIF shares offer investors a prospective yield of 7.4% and discount of 17.6%. BSIF was also one of very few renewable energy funds to announce an uplift in its NAV at 30 June. That NAV uplift came despite a 0.75% increase in the discount rate used to work out the net present value of BSIF’s future cash flows. BSIF is now using a weighted average discount rate of 8%, which looks sensible to me relative to yields of about 4.6% on 30-year UK government bonds. For the financial year to 30 June, BSIF aimed to generate 8.4p in total dividends per share, and with three quarterly payouts declared it is a safe bet the target will be met. Moreover, the company expects the dividend will be covered twice by earnings after servicing its debt, with substantial earnings growth to follow over the next two years. This is not the sort of confident statement that companies make lightly. When BSIF announces its results at the end of September, it may turn out that this dividend cover estimate will be conservative. BSIF has been able to achieve this by locking in some of the higher power prices that we saw earlier this year and last, which gives its board good visibility on BSIF’s future cash flows. Higher-than-expected inflation is a net positive too, as this feeds through into the subsidy income BSIF earns. Another feather in BSIF’s cap was locking in low interest rates through an interest rate swap. Apart from the actual level of dividend cover, one other key message in the results will be the board’s new dividend target for the current financial year. In recent years, BSIF has hiked its dividend by about 2.5% a year on average. The high level of dividend cover for the June 2023 financial year might encourage the board towards a bigger increase this time or it might choose to use the surplus cashflow to help fund the company’s sizeable investment pipeline. At the end of March 2023, BSIF had about 390MW of solar and 125MW of energy storage in construction-ready projects. Building projects can enhance NAV as they are revalued upwards once they are completed and energised and therefore substantially de-risked. Beyond that, BSIF also had solar projects in planning and substantially more solar and energy storage projects in development. If dividend yield is the main attraction of these three renewable energy funds, it clearly does not make sense that the one with the longest track record, highest dividend cover and good prospects is trading on the highest yield. |
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