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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fair Oaks Income Limited | FAIR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.5375 | 08:00:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.5375 | 0.535 | 0.5375 | 0.5375 |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 13/11/2024 | Interim | USD | 0.02 | 21/11/2024 | 22/11/2024 | 13/12/2024 |
| 08/08/2024 | Interim | USD | 0.02 | 15/08/2024 | 16/08/2024 | 09/09/2024 |
| 17/05/2024 | Interim | USD | 0.02 | 30/05/2024 | 31/05/2024 | 28/06/2024 |
| 22/02/2024 | Interim | USD | 0.02 | 29/02/2024 | 01/03/2024 | 02/04/2024 |
| 09/11/2023 | Interim | USD | 0.02 | 16/11/2023 | 17/11/2023 | 15/12/2023 |
| 15/08/2023 | Interim | USD | 0.02 | 24/08/2023 | 25/08/2023 | 21/09/2023 |
| 23/05/2023 | Interim | USD | 0.02 | 01/06/2023 | 02/06/2023 | 30/06/2023 |
| 23/02/2023 | Interim | USD | 0.02 | 02/03/2023 | 03/03/2023 | 31/03/2023 |
| 03/11/2022 | Interim | GBP | 0.016741 | 10/11/2022 | 11/11/2022 | 09/12/2022 |
| 12/08/2022 | Interim | GBP | 0.021327 | 18/08/2022 | 19/08/2022 | 15/09/2022 |
| 13/06/2022 | Interim | USD | 0.025 | 23/06/2022 | 24/06/2022 | 25/07/2022 |
| 07/02/2022 | Interim | USD | 0.025 | 17/02/2022 | 18/02/2022 | 18/03/2022 |
| 26/10/2021 | Interim | USD | 0.025 | 04/11/2021 | 05/11/2021 | 18/11/2021 |
| 10/08/2021 | Interim | USD | 0.025 | 19/08/2021 | 20/08/2021 | 17/09/2021 |
| 20/05/2021 | Interim | USD | 0.0225 | 27/05/2021 | 28/05/2021 | 25/06/2021 |
| 02/02/2021 | Interim | USD | 0.025 | 11/02/2021 | 12/02/2021 | 26/02/2021 |
| 20/10/2020 | Interim | USD | 0.022 | 05/11/2020 | 06/11/2020 | 19/11/2020 |
| 20/07/2020 | Interim | USD | 0.015 | 06/08/2020 | 07/08/2020 | 20/08/2020 |
| 03/03/2020 | Interim | USD | 0.007 | 12/03/2020 | 13/03/2020 | 26/03/2020 |
| 06/02/2020 | Interim | USD | 0.007 | 13/02/2020 | 14/02/2020 | 27/02/2020 |
| 09/01/2020 | Interim | USD | 0.007 | 16/01/2020 | 17/01/2020 | 30/01/2020 |
| Top Posts |
|---|
Posted at 11/12/2024 19:12 by cwa1 Yes indeed, a juicy dividend to look forward to :-) |
Posted at 11/12/2024 14:43 by panshanger1 Added a few when the pound was at 1.34 to the dollar Nice juicy dividend Friday |
Posted at 21/11/2024 09:21 by tag57 Blue, Given how some of my other investments have performed over the last couple of years I am not sure if there is more capital risk here, plus a fab dividend. |
Posted at 13/11/2024 09:15 by bluemango Regular 2c Q3 dividend declared, paid 13th December.The shares won't move much, but that's a fabulous yield of 14.28% on 0.56 USD. |
Posted at 10/8/2024 10:51 by grahamg8 full English, please don't shoot the messenger. I only pointed out that there are similar companies to FAIR. That is definitely not a recommendation. FAIR is my preferred pick by a long way, although I do have a few VTAS. |
Posted at 27/7/2024 12:46 by grahamg8 Long term trend 5 or 7 years doesn't look too pretty. But add back your dividends and you would be in profit. Traditionally wide spread makes for poor trading opportunities. Technically has a wind up date in 2028 but FAIR will roll that over. My second biggest holding and in it to win it since 2015.Alternatives TFIF, VTA, MPLS |
Posted at 22/1/2024 10:30 by euameus Liberum on Fair Oaks IncomeInvestment case remains compelling despite discount closing Analyst: Shonil Chande Mkt Cap £177m | Share price $0.56 | Prem/(disc) -1.6% | Div yield 14.4% Event Fair Oaks Income’s NAV per share of $0.564, as at 31 December 2023, represented a 0.14% monthly increase and a 12.9% NAV total return in the calendar year. Default levels firmly lower than forecast a year ago The European loan default rate increased from 1.42% to 1.62%, and the US loan default rate increased from 1.48% to 1.53% in December. These levels are significantly below market forecasts at the end of 2022. The forward-looking distress ratio decreased from 4.79% to 4.32% in Europe and from 7.30% to 6.36% in the US. Liberum view FAIR has performed very well over the past year, with the underlying performance of the CLO equity and debt portfolios very well supported by corporate measures, particularly the share repurchase programme. In the context of the near outright closure of FAIR’s discount, it may be tempting to view FAIR as relatively less attractive. We make a few key points to counter this. Firstly, At NAV (ie no discount), FAIR’s dividend yield is c.4 percentage points higher than the second highest-yielding alternative fund (market caps above £150m). Secondly, with respect to increases in default rates and the impact this can have on CLO equity valuation, as opposed to distributions given that a far more punitive environment (overacollaterlisati The two charts below show 1) the downward trend in the core USD CLO equity valuations in particular, mitigating risk, and 2) the potential positive impact on NAV from upward moves in valuation. If the market has modelled overly pessimistic assumptions for USD CLO equity, the prices of some of the US CLO equity tranches could rally significantly. We also note the manager’s comment in the factsheet: “Assuming the US default scenarios forecast by S&P Global Ratings, we estimate that the gross IRR for the Master Fund would be 33%, 26% and 15% in an optimistic, base and pessimistic scenario, respectively.” Alignment and repurchases FAIR has overseen a highly effective share repurchase programme since October 2022, with tangible impact across several metrics. A focus on CLO equity, which has historically delivered a double-digit cash yield, and CLO debt, meant that even after reducing its annual dividend, in 2022, from 9.5c to 8c to fund the repurchases, the dividend yield at NAV remained above 13%. Other initiatives include the fixed-life realisation share class and re-investing 25% of management fees whenever the shares trade at a discount. We are BUYers with a target price of $0.66. |
Posted at 23/8/2023 10:17 by euameus Stifel comment below. Interesting given recent price action.Fair Oaks income - Is it really that different to TwentyFour Income? One of the vagaries of investment trusts are that some trade close to NAV largely based on historical reasons while others seem to be overly punished. TwentyFour Income is a well managed fund and while fundamentally the securities it invests in (UK residential mortgages and CLO debt) may be secure, there is clearly headline and pricing risk in residential mortgages - especially the residential equity book (c.17% of NAV). The share price is currently trading in line with the NAV with a dividend yield of 8%. Fair Oaks Income which invests in CLO equity and debt trades at a 12% discount to NAV with a 15% dividend yield. Both are well managed vehicles, but we would be far more comfortable investing in CLO equity with its diversified pool of leveraged loans that can be actively traded versus a UK residential portfolio that has a static pool. In addition, Fair Oaks Income has a limited life structure, which means (assuming a 1-year extension) that the fund enters run off in 2024/5 unless investors opt for a roll over. The question we are pondering is one of valuations. On a relative basis Fair Oaks Income appears cheap and likely better insulated from further macro pressure (on a NAV basis). There is also likely more potential for consolidation in the CLO sector with either of its peers (Volta Finance or Marble Point). |
Posted at 15/8/2023 09:27 by cwa1 It's that time again:-DIVIDEND DECLARATION Dividend for Quarter Ended 30 June 2023 The Directors of Fair Oaks Income Limited have declared that an interim dividend will be payable as follows in respect of the quarter ended 30 June 2023 in respect of the Realisation and 2021 Shares: Ex-Dividend Date: 24 August 2023 Record Date: 25 August 2023 Payment Date: 21 September 2023 Dividend per Realisation Share: 2.00 US cents per share Dividend per 2021 Share: 2.00 US cents per share The default payment for dividends remains in US Dollars however, dividends are now capable of being paid in Sterling provided that the relevant shareholder has registered to receive their dividend in Sterling under the Company's Dividend Currency Election. A copy of the Dividend Currency Election form, which should be sent to Link Group, 10th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL when completed can be found on the Company's website at |
Posted at 23/5/2023 10:38 by cwa1 DIVIDEND DECLARATIONDividend for Quarter Ended 31 March 2023 The Directors of Fair Oaks Income Limited have declared that an interim dividend will be payable as follows in respect of the quarter ended 31 March 2023 in respect of the Realisation and 2021 Shares: Ex-Dividend Date: 01 June 2023 Record Date: 02 June 2023 Payment Date: 30 June 2023 Dividend per Realisation Share: 2.00 US cents per share Dividend per 2021 Share: 2.00 US cents per share The default payment for dividends remains in US Dollars however, dividends are now capable of being paid in Sterling provided that the relevant shareholder has registered to receive their dividend in Sterling under the Company's Dividend Currency Election. A copy of the Dividend Currency Election form, which should be sent to Link Group, 10th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL when completed can be found on the Company's website at |
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