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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Foresight Solar Fund Limited | FSFL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.60 | 0.68% | 89.00 | 16:35:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 88.50 | 88.50 | 89.20 | 89.00 | 88.40 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 12/06/2024 | Interim | GBP | 0.02 | 25/07/2024 | 26/07/2024 | 23/08/2024 |
| 01/03/2024 | Interim | GBP | 0.01895 | 25/04/2024 | 26/04/2024 | 24/05/2024 |
| 24/11/2023 | Interim | GBP | 0.0188 | 25/01/2024 | 26/01/2024 | 23/02/2024 |
| 14/09/2023 | Interim | GBP | 0.01895 | 19/10/2023 | 20/10/2023 | 24/11/2023 |
| 19/06/2023 | Interim | GBP | 0.0188 | 20/07/2023 | 21/07/2023 | 25/08/2023 |
| 15/03/2023 | Interim | GBP | 0.0178 | 20/04/2023 | 21/04/2023 | 26/05/2023 |
| 24/11/2022 | Interim | GBP | 0.0178 | 26/01/2023 | 27/01/2023 | 24/02/2023 |
| 15/09/2022 | Interim | GBP | 0.0178 | 27/10/2022 | 28/10/2022 | 25/11/2022 |
| 16/06/2022 | Interim | GBP | 0.0178 | 21/07/2022 | 22/07/2022 | 26/08/2022 |
| Interim | GBP | 0.01745 | 27/01/2022 | 28/01/2022 | 28/02/2022 | |
| 16/09/2021 | Interim | GBP | 0.01745 | 28/10/2021 | 29/10/2021 | 26/11/2021 |
| 21/07/2021 | Interim | GBP | 0.01745 | 29/07/2021 | 30/07/2021 | 27/08/2021 |
| 09/03/2021 | Interim | GBP | 0.0173 | 29/04/2021 | 30/04/2021 | 28/05/2021 |
| 27/01/2021 | Interim | GBP | 0.0173 | 04/02/2021 | 05/02/2021 | 05/03/2021 |
| 03/09/2020 | Interim | GBP | 0.0173 | 29/10/2020 | 30/10/2020 | 27/11/2020 |
| 22/07/2020 | Interim | GBP | 0.0172 | 30/07/2020 | 31/07/2020 | 28/08/2020 |
| 22/08/2019 | Interim | GBP | 0.0169 | 30/04/2020 | 01/05/2020 | 29/05/2020 |
| 22/08/2019 | Interim | GBP | 0.0169 | 30/04/2020 | 01/05/2020 | 29/05/2020 |
| 22/08/2019 | Interim | GBP | 0.0169 | 30/01/2020 | 31/01/2020 | 28/02/2020 |
| 22/08/2019 | Interim | GBP | 0.0169 | 24/10/2019 | 25/10/2019 | 29/11/2019 |
| Top Posts |
|---|
Posted at 04/7/2024 11:56 by marketmuser The last L in FSFL stands for Ltd. Which tells you it's incorporated as a company...which tells you it's an investment trust not a 'Fund'.Of course you could have just gone to the FSFL website which, in the very first sentence on its home page, states it's a closed ended investment company! |
Posted at 12/6/2024 15:05 by gemlotte55 And me👍Today have added from last dividend via HL dividend buyack. |
Posted at 12/6/2024 14:55 by masurenguy Confirmation of a 9% yield at the current shareprice. That'll do for me ! 😊Declaration of Dividend Foresight Solar is pleased to announce the first interim dividend, for the period 1 January 2024 to 31 March 2024, of 2.00p per ordinary share. The shares will go ex-dividend on 25 July 2024 and the payment will be made on 23 August 2024 to shareholders on the register as at the close of business on 26 July 2024. The Board confirms its annual dividend target of 8.00p per ordinary share for the 2024 financial year. |
Posted at 20/4/2024 12:02 by llef So a 6% rise in dividend for 2024 relative to 2023.Given that FSFL will have bought back around 6% of shares in last year, that means that the annual net cost of the dividend to the company will be same. At an almost 10% dividend yield, it makes sense for the company to keep on buying back more shares rather than paying down the floating debt. |
Posted at 18/4/2024 21:00 by orinocor Good that makes the yield 9.6%. I looked at others in this sector but settled on FSFL because its gearing of 38% is lower than BSIF or NESF. Also the ex-dividend date next week was a factor. |
Posted at 18/4/2024 15:32 by orinocor Foresight Solar is pleased to announce the fourth interim dividend, for the period 1 September 2023 to 31 December 2023, of 1.895 pence per ordinary share. The shares will go ex-dividend on 25 April 2024 and the payment will be made on 24 May 2024 to shareholders on the register as at the close of business on 25 April 2024. |
Posted at 12/3/2024 07:10 by masurenguy Foresight Solar Fund Limited Annual Results to 31 December 2023· Net Asset Value (NAV) of £697.9m (31 December 2022: £771.5m). The uplift from the sale of the Lorca portfolio stake at a 21% premium to holding value, alongside an active price hedging strategy, mitigated negative impacts from higher discount rates and softening power price forecasts. · Record electricity generation with 1,094GWh exported to the grid, enough to power over 400,000 UK households for a year - avoiding 390,000 tonnes of carbon dioxide emissions. · Record cash distribution from the underlying assets of £120 million, the highest in Foresight Solar's 10-year history. · FSFL delivered on the first phase of its divestment programme with the sale of a 50% stake in the Lorca portfolio. The proceeds from this transaction, alongside free cash, were used to pay down £40 million of variable rate debt on the RCF, bringing the drawn balance down to £75 million. · Foresight Solar grew its proprietary pipeline with the acquisition of the rights to a 467MWp portfolio of development-stage solar projects in Spain. The move exemplifies the Company's capital allocation strategy, focused on new investments with limited upfront capital requirements to drive long-term growth and total shareholder returns. · Foresight Solar returned £20 million to shareholders via share buybacks, deploying half of the £40 million allocation in the year and delivering 1.1 pence per share of NAV accretion. · Total dividend of 7.55 pence per share declared for the full year, in line with the Company's target. Dividend cover for 2023 was 1.61x. · Target dividend of 8.00 pence per share for 2024, an increase of 6% compared to the previous year. The 2024 target is expected to be 1.50x covered from cash generated in the period, with around 1.35x cover for 2025 - assuming current revenue forecasts. · The sale of several large ROC-backed solar portfolios in the UK offers reliable market benchmarks for the Company's assets. The price at which the latest deal closed indicates a value per megawatt approximately 15% above Foresight Solar's £1.17m/MW valuation of its UK portfolio. Alexander Ohlsson, Chairman of Foresight Solar, said: "Foresight Solar delivered resilient performance with record electricity production and cash distribution against a challenging market backdrop. Our operational strength, the powerhouse behind our progressive dividend, enabled us to comfortably meet our dividend target of 7.55p per share for 2023 and allows us to propose an above inflation increase of 6.0% for the 2024 target dividend of 8.0p per share. During the year, we have remained focused on initiatives to address the discount to NAV at which the Company's shares have traded and to place the fund in the best possible financial position to support shareholders' interests. We paid down £40 million of variable rate RCF debt, reducing financing costs, and returned £20 million to investors via share buybacks. The Board is adhering to its disciplined approach to capital allocation and the only new project investments currently under consideration are modest investments to expand the development stage pipeline. In the year Foresight Solar celebrated its 10th anniversary, we successfully completed the Company's first divestment. The partial sale of the Spanish Lorca portfolio at a 21% premium to holding value validates our valuation methodology and supports our investment model. Bringing projects through development to construction and then into operation offers optionality and allows the Company to capture financial upside, a strategy we intend to replicate through our development pipeline. The Lorca transaction was also a key driver of NAV uplift, and the Investment Manager continues to make progress on the next phases of the divestment programme. We look forward to providing more details to shareholders in due course. By leveraging the Investment Manager's local networks in Spain, Foresight Solar purchased the rights to six development-stage solar projects, totalling over 460MWp. Over the medium-term, we will expand this growing proprietary development pipeline and focus on the huge potential for solar and storage to be unlocked throughout Europe. As power price forecasts softened across markets during the year, Foresight Solar's active hedging strategy enabled the fund to lock in higher prices. These favourable terms will help insulate the NAV against market fluctuations in 2024 and beyond, providing greater visibility on dividend cover. After a challenging year for markets, we believe there are reasons for optimism. The energy transition is one of the biggest investment themes of our generation. The solar power opportunity alone is immense. Industry fundamentals remain attractive and solar generation continues to be one of the cheapest and most reliable sources of electricity available. This promising outlook, coupled with Foresight Solar's improved financial position and clear strategy to deliver income and growth, positions the fund well to capitalise on the opportunities ahead." |
Posted at 01/3/2024 07:23 by masurenguy Declaration of DividendForesight Solar is pleased to announce the fourth interim dividend, for the period 1 September 2023 to 31 December 2023, of 1.895p per ordinary share. The shares will go ex-dividend on 25 April 2024 and the payment will be made on 24 May 2024 to shareholders on the register as at the close of business on 25 April 2024. This fourth interim dividend completes Foresight Solar's dividend target of 7.550p per ordinary share for the 2023 financial year. |
Posted at 08/2/2024 07:15 by masurenguy Discount to NAV is now 25.4% and the current yield is 8.5%Q4 2023 Net Asset Value Update Foresight Solar announces its unaudited NAV was £697.9m at 31 December 2023 (30 September 2023: £706.9m). This results in a NAV per share of 118.4p (30 September 2023: 118.1p per share). Highlights: · The uplift from the sale of the Lorca portfolio stake at a 21% premium to holding value mitigated the negative impacts from updated power price forecasts and actual inflation. · Proceeds from the Lorca transaction, along with free cash, were used to pay down debt, reducing the balance of the RCF to the previously announced £75m target. Total gearing is now 38.8% of GAV and the Board intends to reduce leverage further through divestments. · Foresight Solar continued its share buyback programme, providing a NAV uplift of 0.4p per share for the quarter. The Company has utilised £20m for repurchases, resulting in NAV upside of 1.1p per share for the full year. · FSFL closed 2023 with record cash distributions from underlying assets of £120.4m · The Company is on target to deliver an annual dividend of 7.55p per share. Dividend cover was 1.61x for FY23. Net dividend cover for FY24 remains in line with previous guidance. |
Posted at 01/11/2023 07:57 by masurenguy Thanks jonwig - I think that the excerpt below summarizes the current investment case, which equally applies to BSIF and NESF where I'm currently invested.Foresight Solar Fund (FSFL) presents investors with an attractive dividend yield (8.6%), a 10-year track record of dividend growth (25% since IPO), strong cash dividend coverage (1.5x until at least 2025) and underlying revenue security (contracted revenue accounts for 90% of total revenue in 2023, 85% in 2024 and 75% in 2025). FSFL can fix power prices in six-month blocks, up to five years ahead via hedging. Investors have been attracted towards fixed income and money market products in a rising interest rate environment, although these present negative real investment returns. FSFL offers positive real yields, well covered by cash generation and with a proportion of revenues linked to inflation that help support a growing dividend. FSFL is also trading at a 26% discount to NAV, offering an attractive entry point to investors. |
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