Carador Income Share Discussion Threads

[solarno lopez] 02/5/2013 07:06

Thats my problem I do not understand why it keeps falling despite the hefty yield.

[yieldsearch] 01/5/2013 19:13

Yep forgot it was going exdvd. Surprised by the fall and tempted to buy more this is the best dvd play I know, more diversified than glif and higher running yield than Volta finance

[badtime] 01/5/2013 14:18

Yield it was just a question ..considering the pullback :)But thnx to the person who reminded me it was exdiv ..dunces cap for me :(

[jonwig] 01/5/2013 12:21

Well it is xd today 3.4c.

[eeza] 01/5/2013 12:19

Support @ 92p.

Fundamentals were also there at that level.

[yieldsearch] 01/5/2013 12:15

Badtime why would this go down to 90? Clearly there is a seller in the market but underlying fundamentals have not changed?

[badtime] 01/5/2013 11:48

Back to 90 or 80

[cwa1] 25/4/2013 11:56

Mnay thanks for all the comments, much appreciated.

[rat attack] 25/4/2013 08:50

solarno - anticipated reduction in NAV due to refi and new assets at lower spread. This happened dramatically in years up to 2008 so will be interesting to see how far they fall this time?

Incidentally found this:

The fund has announced a Q1 dividend of US$3.4¢ in line with our recently trimmed forecast and Q1 distributable cashflows of US$3.85¢ per share, also in line, leaving US$0.45¢ to be distributed later in the year. Following the 16% rise in the six months to January 2013 the NAV slipped a further 1.3% to US$1.0139 in March. This was largely driven by a 3 pps fall in the average value of the income note part of the portfolio. The strength of the US Leverage Loan market which has seen spreads tighten by 100 bps this year will impact cashflows going forward as it works through the repricing and refinancing system.

[solarno lopez] 25/4/2013 08:41

hahah good man

[pejaten] 25/4/2013 08:34

So I can buy some more

[solarno lopez] 25/4/2013 06:54

But why the continued fall in price ?

[pejaten] 24/4/2013 09:28

In the latest monthly newsletter they say that quarterly dividend is likely to be in line with quarter 1 dividend unless there is dramatic change in market conditions.

[dendria] 24/4/2013 08:58

I've topped up so think it's fair price now (only just above current NAV) - I'm just not sure what's going to happen to NAV over the coming year - but current yield of ~13% was too tempting.

[madmix] 24/4/2013 08:39

CWA1,

Well, clearly on a NAV basis (USD 1.0139 at 28th March) the current price looks like fair value. Given that the NAV has fallen marginally in the last couple of months, I can understand why the price has dropped back recently.

On a yield basis (of around 13-14%), CIFU look excellent value. So the question for me would be : Is the current level of dividend sustainable? If the answer to this is yes, then I would happily buy more of these.

[danieldruff2] 24/4/2013 08:37

I think you have to bear in mind that this stock will cease to be in 2021 and will probably return NAV to shareholders in its last few years.

A fair question would be, how bad would things have to get to only receive my original investment back? Which I would say would be receiving 8% dividend a year and the NAV having fallen circa two thirds by the time it is all returned. An unlikely scenario. My very vague assumption is that I will be getting circa 10% a year in dividend to 2021 and cautiously assume NAV declines 20% in that time... circa 8% a year return, could end up better or worse than that, but looks a fair bet to me.

[cwa1] 24/4/2013 08:23

Morning All

What do the residents of this board feel is a "fair" price for CIFU? Just trying to wrap my head round about this stock at the moment.

Cheers for any input.

[yieldsearch] 22/4/2013 10:28

Nav down here and volta finance nav is upDexion Cap expecting price dip toward nav

[solarno lopez] 22/4/2013 09:28

Must be yielding 14% or there-abouts now

[solarno lopez] 22/4/2013 07:43

Which is about 2.2p per share ?

[eeza] 22/4/2013 07:32

RNS - Div dec - 3.4c; XD 1 May; Pay 9 May

[yieldsearch] 19/4/2013 16:55

Ah ok tks.. We shall wait then...

[pejaten] 19/4/2013 15:28

Not delayed. Last year it was paid early due to conversion of c shares. Should be next week

[yieldsearch] 19/4/2013 10:34

Why dvd notice has been delayed on this one? Last year was already disclosed