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Share Name Share Symbol Market Type Share ISIN Share Description
Chenavari Toro Income Fund Limited LSE:TORO London Ordinary Share GG00BWBSDM98 EUR SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.56 0.55 0.57 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -37.6 -12.3 - 170

Chenavari Toro Income Share Discussion Threads

Showing 76 to 100 of 100 messages
Chat Pages: 4  3  2  1
DateSubjectAuthorDiscuss
10/11/2021
11:02
Struggling to know what to make of TORO atm. share price done very little despite the director buys. Divi still rolling in. NAV doing well. But showing zero inclination to close the NAV gap. 53/53.5, but was 500k sat on the order book at 53.5, so isn't devoid of interest.
spectoacc
05/10/2021
12:25
Interactive will let you buy what you want but can't give a live quote so you have to wait for a dealer to manually execute your order.
scrwal
05/10/2021
07:40
Seams to be the case. I note that director bought 150,000 yet the buy size is limited to only 150 on A J Bell platform!
rogerrail
22/9/2021
06:15
Answer seems to be for the board to keep buying shares themselves.
spectoacc
20/9/2021
11:37
It does seem strange although in June the share price went up by 1.92% with a drop of 0.2% in nav. I suppose there will be a knock on effect possibly on the dividend payout as the cash threshold is 5% of nav which has jumped. The discount has risen to 30% so I wonder how the board will try to reduce that.
scrwal
20/9/2021
02:29
Just noticed that the nav was up a rather stonking 8% in July. The share price hasn't followed though.
rambutan2
09/8/2021
08:23
Not sure - sometimes KIID related, would be worth asking them.
spectoacc
09/8/2021
08:22
I tried to buy a few via Hargreaves but it seems they don't deal in them. Any idea why that would be?
boystown
09/8/2021
08:10
Directors bought another 5m shares last week, not small in the context of the size of the co.
spectoacc
03/8/2021
13:22
Maybe, but if you include reinvested (compound) divis, the performance would look a whole lot better
boystown
03/8/2021
13:10
Maybe the share price halving in 6 yrs puts investors off.
ramellous
03/8/2021
12:26
I posted about TORO over on the CP+ thread as there's been a bit of discussion there, of late, about high yielding ITs specialising in debt, securities etc. My question there is the same for here; what's the catch!?
boystown
15/6/2021
05:57
Ah ha - thanks @calaban. Agree @Yieldsearch, wonder who the seller is.
spectoacc
14/6/2021
20:05
yes agree this is an addition from the existing holding. 4m buy is decent, price going down, i guess a seller in the background?
yieldsearch
14/6/2021
18:54
From the 13th April notification: 11. Additional information (xvi) FREDERIC COUDERC HAS TRANSFERRED HIS SHARES FROM HIS DIRECT HOLDING TO AN INDIRECT HOLDING IN A TRUST, FOR WHICH HE IS THE BENEFICIAL OWNER.
calaban
14/6/2021
07:42
13th April - Frederic Courderc sells entire 7.5% stake in TORO. 14th June, TORO portfolio manager Frederic Courderc has "..Recently purchased a further 4m shares". Something needs explaining somewhere.
spectoacc
31/1/2021
08:34
Thanks for that. "Continuous focus on delivering shareholder value". Don't doubt it, but not sure they've succeeded lately. Albeit they say most of the falls happened Q1. Sounds like possibly no more special divis - but to expect the 2.5%/qtr and a "stable to rising" NAV. A strong return, if they achieve that.
spectoacc
31/1/2021
05:45
Worth a watch: hTtps://chenavaritoroincomefund.com/assets/Uploads/e1f678db0d/Chenavari-Toro-Investor-Call-.mp4 htTps://chenavaritoroincomefund.com/assets/Uploads/c2b845b0a5/Chenavari-Toro-Income-Fund-Investor-Day-January-2021-EXTERNAL-v3.pdf
rambutan2
25/1/2021
12:02
The div is for the qtr ended 31 Dec 2020 not 2021 - that's an error on their behalf. As such the 10 to 5% reduction should apply to the next div for the qtr ending 31 March 2021 hopefully unless the manager keeps it at 10% if he thinks there are opportunities available. We also don't know how much cash is held at the qtr end when the div is declared.
scrwal
25/1/2021
11:09
Not for the first time with TORO, I've failed to fully understand them. Was expecting another Special, to reduce the cash level down to 5%, but we're back to just the 2.5% of NAV. So they've reduced the cash down to 5% how? By investing all the rest of it? "25 January 2021 Quarterly Dividend for the Quarter ended 31 December 2021 In line with the enhanced dividend policy announced by the Company on 8 June 2020 (the "Enhanced Dividend Policy"), the Company is pleased to announce payment of its quarterly dividend of 2.5% (Euro 0.0176 per ordinary share) (the "Regular Quarterly Dividend") for the period from 1 October 2020 to 31 December 2021. Payment will be made on 19 March 2021 to holders of ordinary shares recorded on the register as at close of business on 12 February 2021 with an ex-dividend date of 11 February 2021. The quarterly Dividend Yield remains targeted at 2.5% quarterly. .... With effect from 1 January 2021, the maximum cash balance cap will be reduced to a level of not more than 5 per cent. of NAV, unless the investment manager, at its discretion, decides to maintain such cap at a maximum of 10 per cent., should market opportunities in liquid and tradable European ABS / CLO arise."
spectoacc
06/1/2021
20:08
Aye it's almost a wind-up job now IMO, and perhaps that's right - discount was big even in the good times. Happy to get back a mix of capital and income for a while, and should that narrow the gap, all the better.
spectoacc
06/1/2021
20:05
Yes, if more uninvested cash is in the balance sheet than the 5% NAV. But it is still more money distributed now but even less for the future years as it will reduce the remaining NAV.
ceaserxzy
06/1/2021
20:00
This part not missed out deliberately I'm sure ;) "The implementation of quarterly special distributions of available excess cash: at the end of each calendar quarter until 31 December 2020, the Company will maintain a maximum cash balance in its portfolio of 10 per cent. of NAV and will distribute all excess cash above this balance arising in the portfolio as special dividends on a quarterly basis. These special dividends will be in addition to any quarterly dividends paid pursuant to the Company's dividend policy outlined above. With effect from 1 January 2021, the maximum cash balance cap will be reduced to a level of not more than 5 per cent. of NAV, unless the investment manager, at its discretion, decides to maintain such cap at a maximum of 10 per cent., should market opportunities in liquid and tradable European ABS / CLO arise." So cash balance cap gone down from 10% to 5%, which should enhance our divis.
spectoacc
06/1/2021
19:52
See their dividend announcement on the 6th of June and 19th of November. In particular the sentence pasted below from the 8th June announcement. 1. An enhanced dividend policy: The Company is targeting a quarterly dividend yield of 2.5 per cent. (by reference to NAV) equating to a targeted annualised dividend yield of 10 per cent. (by reference to NAV). The Company's net target return remains 9-11 per cent. per annum So if the NAV is reduced, the dividend will be reduced accordingly and vice versa.
ceaserxzy
04/1/2021
11:29
@ceaserxzy "Their dividend policy is no longer a fixed quarterly value but 2.5% of NAV." do you have a link for this? Edit - found the relevant RNS (0922U)
reverend bong
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