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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
|
|
|---|---|---|---|---|
| 1.40 | 1.60% | 89.00 | 16:35:12 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 87.20 | 87.20 | 89.50 | 89.00 | 87.60 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 28/01/2025 | Interim | GBP | 0.022 | 06/02/2025 | 07/02/2025 | 07/03/2025 |
| 30/09/2024 | Interim | GBP | 0.022 | 10/10/2024 | 11/10/2024 | 15/11/2024 |
| 19/08/2024 | Interim | GBP | 0.022 | 29/08/2024 | 30/08/2024 | 30/09/2024 |
| 14/05/2024 | Interim | GBP | 0.022 | 23/05/2024 | 24/05/2024 | 24/06/2024 |
| 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 |
| Top Posts |
|---|
Posted at 24/2/2025 16:21 by masurenguy Bluefield Solar eyes buybacks.Green infrastructure trust Bluefield Solar is considering buying back their heavily discounted shares as they find ways to unlock cash. 24 Feb 2025: Michelle McGagh, Citywire. Bluefield Solar Income (BSIF) could be in the market for more share buybacks after refinancing £300m of debt. The £509m Bluefield investment company has refinanced the 359-megawatt portfolio of solar assets it jointly owns with GLIL Infrastructure, with Bluefield owning just over a 25% stake. The refinancing replaces £214m of existing inflation-linked debt with £297m of fixed rate debt at a rate of 5.8% until 2035 to match the subsidy period of the assets. That results in Bluefield Solar’s total debt costs increasing from 3.4% to about 3.8%. Although the fund’s borrowing costs have increased, Stifel analyst Iain Scouller said that the new agreement provides ‘more certainty on debt costs at a time when inflation has been volatile in recent years’ and also confirms a £21m cash inflow to the fund. The £21m of cash together with the successful sale of 112MW of solar capacity as part of the partnership with GLIL means a total of £89m of capital has been returned to Bluefield since it partnered with GLIL in September 2024. To date, £50.5m from the sale of 112MW of assets was used to repay part of the fund’s revolving credit facility (RCF), with another £10.6m going towards share buybacks and another £6.2m invested in the solar asset development pipeline. Scouller said that the fund is now sitting on about £40m of cash which can be used to pay down the RCF, support further developments, or extend its share buyback programme following ‘the completion of the company’s original £20m allocation in January 2025’. Bluefield shares have been hit by downbeat sentiment towards renewables in recent years, falling power prices and a cut in its dividend growth target. The shares currently trade at a discount of 28.6%. Including dividends, the net asset value (NAV) slipped 0.6% over the past year while the shares dropped 7.6%. The investment company also noted that phase three of its GLIL partnership, which involves ‘the prospective sale by Bluefield of a limited portion of its ready-to-build pipeline, is currently in progress’. John Scott, Chair, said: "We have worked closely with GLIL and our lenders to complete this refinancing at an attractive price, enabling further capital to be returned to the company to support future RCF repayments and allowing the continued funding of the company’s attractive development pipeline." NB: Current shareprice discount to NAV is circa 30% ! |
Posted at 13/2/2025 07:44 by cwa1 Looks like BSIF are tipped as a BUY in The Telegraph's Questor column this morning, though I don't have access to it. Perhaps that helps explain yesterday's fillip? |
Posted at 28/1/2025 07:15 by masurenguy First Interim Dividend AnnouncementBluefield Solar is pleased to announce the Company's first interim dividend for the financial year ending 30 June 2025 of 2.20p per Ordinary Share will be payable to Shareholders on the register as at 7 February 2025, with an associated ex-dividend date of 6 February 2025 and a payment date on or around 7 March 2025. The Board is pleased to reaffirm its guidance of a full year dividend of not less than 8.90p per Ordinary Share for the financial year ending 30 June 2025 (2024: 8.80p). This is expected to be covered by earnings post debt amortisation. |
Posted at 16/1/2025 15:09 by masurenguy BSIF have never cut their dividend - it has increased every year. Furthermore, the Board has targeted a small dividend increase in the current 2024/25 year of not less than 8.90p, which is expected to be covered by earnings and projected post debt amortisation. |
Posted at 22/12/2024 13:33 by 2wild Brought BSIF at 91.6p on Friday, given me a dividend yield of 9.7%. Paid quarterly and set to rise roughly in line with inflation. No stamp duty either, bonus. Why anybody is selling down here is beyond me. |
Posted at 25/11/2024 16:52 by masurenguy BSIF has not been immune to the sector weakness over the past 18 months which has afflicted other solar companies such as NESF and FSFL too. All of these companies have active share buyback programmes at the moment and with interest rates slowly declining we should see some increases in the shareprice over the next 18 months.I'm a bit underwater on the shareprice but having been invested here for over 7 years I have also collected circa 64p in dividends during that period. The yield at the current price for new investors is 9.2% and for me it is 7.5%, which is still a good deal better than current bank cash fixed term rates. Consequently I am relaxed to continue collecting the dividends while I wait for the shareprice to regain some momentum, especially since I'm currently enjoying much higher yields and meaningful shareprice paper profits on 3 of my largest holdings, PLOR, PAY and MEGP. |
Posted at 21/4/2024 08:16 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 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 05/9/2023 13:18 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 13:21 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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