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CSN Chesnara Plc

-1.00 (-0.39%)
Last Updated: 13:34:38
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Chesnara Plc CSN London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-1.00 -0.39% 256.00 13:34:38
Open Price Low Price High Price Close Price Previous Close
258.00 255.50 263.00 257.00
more quote information »
Industry Sector

Chesnara CSN Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 13/4/2024 00:16 by cassini
These pension companies are a bit complicated to analyse, they seem to have their own, arcane performance metrics.

PHNX's chart over the last two+ years doesn't look good - perhaps bonds and interest rates have weighed on it here - but their recent set of results was well received and seemed to trigger the start of a rerating, but the divi (just increased this year) is still very large in terms of yield and large biannual divis seem to generate distorted price action around ex-divi days.

I'm looking to top up on PHNX but I think getting a good entry price is key - I will keep an eye on it next week, it could continue to fall for a week or two if it behaves like MNG did when it went ex-div recently, as punters lose interest...but who knows...

Added complications are that the US stock markets seem to me ready to roll over, there is clearly stress in the US debt market (US 10 Year Treasury has pinged up to 4.5+%), gold has gone parabolic plus it's nearly May then we're in the summer doldrums.

Posted at 11/4/2024 10:56 by speedsgh
From the Hardman note:

~ 2024 EPS downgraded from 38.6p to 33.8p.
"A couple of operating lines were worse than expected, which has led to a downgrade to our estimates. The adjustments to new business and operating experiences/assumptions have led to downgrades of our 2024E EPS, to 33.8p from 38.6p. We have introduced 2025E EPS of 34.6p."

~ 2024 DPS estimated at 24.69p, an increase of 3% (2023: 23.97p)

~ Valuation: "With a price at approximately 80% of its forecast Economic Value,
Chesnara seems undervalued. A prospective dividend yield of 8.8%, with good
prospects of continued growth, also suggests an undervalued stock."
Posted at 11/4/2024 08:09 by mister md
'The recommended final dividend of 15.61p per share is expected to be paid on 28 May 2024. The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 11 April 2024.'
Posted at 28/3/2024 09:19 by 1knocker
Entirely agree that we don't expect (and don't hold CSN for) fireworks.
Those results and dividend look very satisfactory to me.
Posted at 28/3/2024 08:47 by theapiarist
Uninspiring, Wizard. Possibly, but isn't that what CSN is supposed to be?

3% rise in dividend may be less than inflation but 9% pay out certainly isn't!
Posted at 28/3/2024 07:01 by skinny


Chesnara reports its 2023 full year results. Key highlights are:

· Completion of the acquisition of Conservatrix's insurance portfolio in the Netherlands

· Acquisition of an individual protection portfolio from Canada Life UK

· New UK strategic partnership with SS&C Technologies for policy administration

· Strong group commercial cash generation of £53.0m (FY 2022: £46.6m)

· Robust solvency of 205% (FY 2022: 197%), materially above our 140 - 160% normal operating range

· Economic value ("EcV") of £524.7m, 348p per share (FY 2022: £511.7m, 340p per share)

· Commercial value of new business of £10.1m (FY 2022: £9.5m)

· Proposed 3% increase to the full year dividend (total 2023 dividend of 23.97p per share)

· IFRS pre-tax profit of £1.8m (FY 2022: £62.1m loss)
Posted at 27/3/2024 20:21 by 1knocker
If the dividend is increased in ine with the historic trend, the lsat few months have provided a great entry point.

Fingers crossed, as I am currently heavier CSN than I have ever been before. In fact my net price is up to 25p per share after trading and dividends!

CSN has done me very well over the years, taking the dividends and trading the range. I do hope that continues and the next dividend gets me back down to (nearly) net zero cost - with no allowance for inflation of course.

The disconnect between rising dividend and flat or falling share price range is a complete mystery to me.
Posted at 31/1/2024 15:45 by 1knocker
The range does seem to be lower over the last year. 281 used to be my buying price for limit orders to purchase, which I lowered to 261. The current top of the range is more difficult to gauge. As I said, only 5 months ago i sold at a tad over 306. Absent anything to frighten the horses, I would hope to get 300 on my next sale, but I may have to wait longer than usual. With the larger of the half yearly dividends (the split is roughly 2:1) coming up, I am more than content to be patient.

THe mystery of this stock is that regular dividend increases over many years have not been matched by the share price.

Another interesting income stock you may like to look into is Smiths News. A modernising, gung ho management all but sank it a few years ago, but a new team has reverted to the old business and (fingers crossed) seems content to stick to the knitting. It is at present ex the bigger of the two dividends it pays annually. A rare stock which has come back from the dead, and looks well set for the foreseeable future.

If you are feeling brave try a slice of DEC! Ideally buy in a SiPP to avoid withholding tax.The dividend is at present about 30% and the price flat on its back. Read the (pretty good) DEC BB for an insight to the business model and what is going on at present.

Best of luck.
Posted at 31/1/2024 13:46 by 1knocker
Financial stocks are always a bit of a worry, as one can never be sure what time bombs they may hold. That is especially so when interest rates have risen higher and faster than anyone thought was even on the cards 18 months ago. That will radically have changed quite a few financial equations.

That said, even if interest rates drop so far or so fast as many expect (i don't think they will), at present Chesnara is comfortably below te bottom of a trading range which has been remarkably steady for many years, the dividend has grown reliably and looks pretty safe, and the big payment is only about 3 months off.

I have had a limit order to buy in for some time. It triggered at 260.2 this morning.
That buys back 10% more shares than I sold 5 month ago at just over 306, with a respectable amount of cash skimmed off on the round trip. I have placed a limit order to sell at 300, though that looks optimistic at present, but I am by no means averse to picking up the next dividend!

I have been working the trick for many years now. The dividends and 'skimmed' trading profits have long since paid for the initial share purchase made donkey's years ago at 179, and that holding is now very much larger, for no additional capital outlay.

Why the share price has been so low for so long (not even reflecting the steady rise of the dividends paid) i have no idea. So long as my model continues to work, I do not much care!

Posted at 31/10/2023 23:40 by cassini

It is true that Chesnara has a bit of a spread compared to some larger insurers. I presume it is more thinly traded. I won't buy shares with a large spread either.

However, I found that if I bided my time the spread would eventually narrow and present an opportunity to buy. It might take a day or two or a week, but it always narrowed to something acceptable at last.

The other thing about spreads is that the spread reported on platforms like ADVFN is usually, but not always, what you get if you ping your trading platform for an actual quote, so if feeling lucky, try getting an actual quote.

The stock markets are concerning me at the moment. I'm trying hard to sit on my hands. A bear market may be upon us already, albeit only the early stages. In fact, I might even reduce my share holdings a bit if we get a 'Santa Rally' bounce in the markets here. I'm getting nearly 4% interest with my SIPP/ISA broker, II, which would take a bit of the sting out of being in cash. Or I could park my money in QUID, which is a very short duration securities (bonds, gilts etc) ETF which always hovers at about £1.00 but pays about 4.29% monthly 'distribution yield' at the moment. On the other hand there are some stonking dividend yields available right now.

It's a dilemma.

If you want more secure dividends, there are also always the (fixed dividend) prefs. If you buy cumulative ('cum') prefs they still owe you the divi even if they can't pay it this time around. Also, Pref holders are preferred (hence the name) to ordinary share holders if money for a full dividend payout is short in hard times. I hold GACA, AV.A, SAN, INVR. Prefs have their own quirks of course and trade more like bonds than shares, so are sensitive to the central bank base rates. Rising rates will depress their value and vice versa. Probably you know all this already but I mention it as you sound like you rely on dividends.

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