Chenavari Toro Income Share Discussion Threads

[skyship] 15/5/2017 09:34

RAM - thnx for posting as it reminded me of their existence. A positive to consider that both RAM & Specto are holders......but unable to join you as YouInvest won't permit!!!

I've queried; and await a reply...

[spectoacc] 15/5/2017 09:11

In these already; slightly surprised they (marginally, after last qtly increase) have upped divi target. Isn't as if the capital value has done that well, nor have they sounded particularly bullish in the updates.

On the other hand, not complaining - would always rather take the bird in the hand. Also seems sensible that they're mildly de-risking. Feels like they earn their fees, though only time will tell - particularly how they come through the next crisis.

[rambutan2] 15/5/2017 03:54

12 May 2017

Toro Limited Announces an increased Dividend target

Toro Limited ("Toro" or the "Company"), the closed-ended investment company providing distinct exposure to European corporate and consumer lending, is pleased to announce its intention to increase payments to shareholders for the coming quarters.

The Company's dividend target has been increased to at least EUR 0.08 per ordinary share per annum, compared to the initial target of EUR 0.05 (annualised) stated in the prospectus published in connection with the Company's May 2015 IPO.

This follows the dividend increase to EUR 0.015 per ordinary share for Q1 2017 announced on 24 April 2017.

The Board of Toro has confidence that the Company's performance can support this new target based on careful consideration of the current assets, the progressive rebalancing of the portfolio towards private asset-backed finance and direct origination strategies, and anticipated cash-flows under reasonable base case scenarios.

Investors should note that the figures in relation to target dividends set out above are for illustrative purposes only and are not intended to be, and should not be taken as, a profit forecast or estimate.

[rambutan2] 25/3/2016 15:39

Feb fact sheet:

[rambutan2] 30/10/2015 02:15

A good start...

29 October 2015

Toro Declares Dividend for Period from First Admission to 30 September 2015

The Company is pleased to announce the payment of a dividend of EUR 0.02 per ordinary share for the period from First Admission (8 May 2015) to 30 September 2015, which compares to a target first dividend of at least EUR 0.012 per ordinary share, set out in the IPO prospectus.

The dividend will be paid on 4 December 2015 to holders of ordinary shares recorded on the register as at close of business on 6 November 2015. The ex-dividend date will be 5 November 2015.

[rambutan2] 02/10/2015 00:52

The May 2015 Presentation (link below) gives a good overview of what the vehicle does...

[rambutan2] 02/10/2015 00:51

The investment objective of the Company is to deliver an absolute return from investing and trading in Asset Backed Securities (“ABS”) and other structured credit investments in liquid markets, and investing directly or indirectly in asset backed transactions including, without limitation, through the origination of credit portfolios.

TORO will target net returns of 12-15% p.a. From May 2017, the Company’s dividend target was increased from 5 cents to 8 cents per annum payable quarterly in March, June, September and December of each year.



KID:

And the manager's site:



Fellow LSE listed CLOers:

Blackstone/GSO

Fair Oaks

Marble Point

TwentyFour

Volta

Shareholders may contact the Company directly through Chenavari investor relations (e-mail address [e-mail]) or by correspondence sent to the Company Secretary ([e-mail]) or the Corporate Broker.