Quiet board. Took a start here today pre x div. |
Many thanks to the Board for this generous distribution |
Anybody know when the Jan divi will be announced? |
Annual results and accounts due now ( 24 Dec last year ) . Lots of caveats but what I like is the 3 directors have skin in the game ... all hold shares Chm 600,000 , which gives me some confidence . The company is Guernsey registered so divs paid gross with no witholding tax for UK ISA holders . The 30% discount and 14% div yield I find attractive and provides some margin of safety . |
So a 30.30% discount and a 15.66% yield acc to the AIC website - and invested in "ABS and other structured credit investments in liquid markets, and investing in asset backed transactions including through the origination of credit portfolios" via USA (over 40%) and mainly via Taurus (54.8%) a global private equity real estate firm.
So in a rising interest rate environment - tremendously risky. But for anyone who vaguely knows WTF they're talking about here - unlike me - is it already priced in after the c.10% fall - and what likelihood of the divi being maintained? I'm thinking about a tiny allocation only. |
Ex div this week:
27 January 2023
Dividend for the Quarter Ended 30 December 2022
The Company is pleased to announce payment of its quarterly dividend of 2.5% (Euro 0.0159 per ordinary share) (the "Regular Quarterly Dividend") for the period from 1 October 2022 to 30 December 2022.
Payment will be made on 9 March 2023 to holders of ordinary shares recorded on the register as at close of business on 10 February 2023 with an ex-dividend date of 9 February 2023. The quarterly Dividend Yield remains targeted at 2.5% quarterly. |
scrwal, note:
"With effect from 1 January 2021, the maximum cash balance cap can be reduced to a level of no 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." |
From May, but may be of interest:
In this latest podcast, Loic Fery, Chief Executive and Co-Chief Investment Officer, Chenavari Investment Managers, shares his insights on how the firm seeks out asymmetric investment opportunities across Europe.
https ://shows.acast.com/asymmetric/episodes/seeking-out-asymmetric-returns-in-european-private-credit |
The 2022 AR, to peruse at your leisure: |
No wht.
Div is 2.5% of NAV per qtr.
If cash held is greater than 5% of NAV then this gets paid out as a top up to the normal qtrly div. |
Is there some kind of withholding tax on the dividends here ? Had my eye on these for some time and the price has demonstrated some stability whilst the dividend has fallen a little it still provides a good consistent return. Is the expectation 1.6c per quarter or further decreases ?
I'm invested in VSL which unfortunately looks to be winding down due to heavy NAV discount. Shame as its a fantastic dividend payer. Looking for an alternative
Thanks in advance. |
Div has slipped a tad along with the nav:
1 November 2022
Dividend for the Quarter Ended 30 September 2022
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 0.0160 per ordinary share) (the "Regular Quarterly Dividend") for the period from 1 July to 30 September 2022.
Payment will be made on 20 December 2022 to holders of ordinary shares recorded on the register as at close of business on 25 November 2022 with an ex-dividend date of 24 November 2022. The quarterly Dividend Yield remains targeted at 2.5% quarterly. |
And latest (sept) factsheet: |
That tricky 3rd quarter - the webinar: |
Still holding for the divs, but not unconcerned about future default risks.
Update webinar from aug 4: |
XD today, TORO really is a good payer. |
Not saying it's a bad thing, but much point? And assume existing holders of TORO remain on the TORO quote.
"Chenavari Toro income Fund Limited (the Company)
15 December 2021
Intention to introduce GBP quote
Chenavari Toro Income Fund Ltd intends to introduce a new quote in GBP, which will have its own ticker and SEDOL. Further details will be announced in due course, but in any event the existing EUR quote will remain." |
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. |
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. |
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! |
Answer seems to be for the board to keep buying shares themselves. |
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. |
Just noticed that the nav was up a rather stonking 8% in July. The share price hasn't followed though. |
Not sure - sometimes KIID related, would be worth asking them. |
I tried to buy a few via Hargreaves but it seems they don't deal in them. Any idea why that would be? |
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