Foresight Solar Dividends - FSFL

Foresight Solar Dividends - FSFL

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Foresight Solar Fund Limited FSFL London Ordinary Share JE00BD3QJR55 ORD NPV
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 103.00 16:35:25
Open Price Low Price High Price Close Price Previous Close
103.00 102.50 103.50 103.00 103.00
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Industry Sector

Foresight Solar FSFL Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

gateside: Goes ex-dividend tomorrow
gateside: Thanks nerja.After I saw the placing was oversubscribed this afternoon, I bought a few SEIT - will look to build up a bigger holding.Also bought a few FSFL as they look undervalued compared to their peers at present.
ec2: Thanks not aware of the article. Weather obviously averages out over the longer term. Interestingly GCP Infrastructure reduced their NAV today due to lower power prices but they are using trailing averages over the last four quarters in their calculations. I'm taking a more forward looking approach in that prices have turned higher than last year in Sept and Oct and see a positive trend forming. GCP which is a completely different beast to FSFL is the only other renewables holding I currently have.
ec2: Wholesale electricity price data comes from Nord Pool which is the main European electricity trading venue. Note in the case of FSFL most recently they had forward fixed price contracts for 30% of their output so they are not entirely dependant on variable prices but as they are to a large extent I keep tabs on day ahead auction prices. Also note the fixed price agreements were recently quoted in the half year update at around 45.71 GBP/MWh. Today's average day ahead auction price was at 46.73 GBP/MWh so it's actually better than the fixed price arrangement. Also for data source completeness my share-price premium calculations mentioned in my earlier post are from Sharescope and cross checked with RNS data. Latest price to NAVs from Sharescope COB tonight are FSFL 9.25% premium and TRIG 20.38% premium.
ec2: Topped up with more of these today following further analysis on the direction of wholesale electricity prices. Ave Day Ahead auction prices in Sept 2019 was 36.20 GBP/MWh compared to the higher 43.78 GBP/MWh in Sep 2020. October 2019 was 36.87 GBP/MWh compared to October 2020 so far of 43.26 GBP/MWh. Prices are well up from the lows of 24.18 and 22.27 GBP/MWh last Apr and May. Gives confidence in continued div payment level. FSFL looks cheaper than other Renewable Energy Infra. Funds. TRIG for example premium to NAV approx 20% compared to FSFL approx 10% so hopefully also room for a little cap appreciation too.
nimbo1: Thanks Gateside - I own GRID only at the moment. Where income isn't linked to the power price but the exchange and storage of electricity using batteries predominantly around peak hours of usage. Would be interested in buying FSFL and NESF especially if sell off continues!
masurenguy: A 5% decline in NAV offset by a 9% increase in electricity generation over budget. They have reconfirmed that there is no evidence to suggest that Covid-19 will materially affect the Company's operational performance and therefore the dividend target of 6.91p for this year is reaffirmed. Q1 2020 Net Asset Value ("NAV") and Operational Update 04 May 2020 Foresight Solar Fund Limited, a fund investing in a diversified portfolio of ground-based solar PV assets in the UK and internationally, announces that as at 31 March 2020 its unaudited Net Asset Value was £597.2m (31 December 2019: £628.0m), resulting in a NAV per Ordinary Share of 98.6p (31 December 2019: 103.8p). The decrease in NAV over the first quarter is largely attributable to a downward revision in power price forecasts as a result of the economic impact of the Covid-19 pandemic. Power prices are currently forecast to be negatively impacted for the remainder of 2020 and in the medium term as a result of a reduction in demand for electricity and a decrease in energy-related commodity prices. The downward shift in power price curves, based upon independent forecasts available as at 31 March 2020, resulted in a negative impact on NAV of approximately 4.6p per share. Among other valuation movements during the period the Company highlights the recognition of the reversal of the proposed decrease in the rate of Corporation Tax, resulting in a negative impact to NAV of 0.5p per share. The Gross Asset Value ("GAV"), including Company and subsidiaries, as at 31 March 2020, was £1,026.2m (31 December 2019: £1,071.5m). The Company's next scheduled formal valuation will be undertaken for the 30 June 2020 interim results which are expected to be published in August. This valuation will take into account the latest available power price forecast assumptions, as well as the operational performance of the Company and other variables applied in valuing the portfolio. Operational Update The Company's 723 MW UK portfolio has continued to deliver strong operational performance during the first quarter of 2020. Electricity generation from the UK portfolio was 9% above budget, driven by strong irradiation in March and high asset availability during the period. Positive progress continues to be made across the Company's 146 MW Australian portfolio. A temporary export restriction at the site at Bannerton was removed on 23 April 2020 and it is again exporting at full capacity. The health and safety of all Company stakeholders and their staff remains of primary importance and the Board of Foresight Solar continues to work closely with its Investment Manager, Foresight Group and all key service providers, to monitor the impact of Covid-19 on the Company portfolio. As previously announced on 27 March 2020, there is currently no evidence to suggest that Covid-19 will materially affect the Company's operational performance. Dividend The Company maintains high cashflow predictability with 67% of expected revenues fixed in 2020 which supports its FY 2020 dividend target. As a result, the Board of Foresight Solar re-affirms the Company's FY 2020 dividend target of 6.91p per share.
rik shaw: 'Change of dividend policy to 'progressive' dividend, with target dividend for 2020 increased to 6.91 pence per share' 'Foresight Solar is also pleased to announce a fourth interim dividend, in respect of the period 1 October 2019 to 31 December 2019, of 1.69 pence per ordinary share ("the Dividend"). The shares will go ex-dividend on 31 April 2020 and the Dividend will be paid on 29 May 2020 to shareholders on the register as at the close of business on 1 May 2020.' Think they might mean 30 April for ex dividend.....
lord mandelbaum: I bought FSFL last year and am up 7% in 6 months all told, which is doing what it says on the tin. Haven't traded yet but did get itchy a few days ago. Very similar story with WHR. Also started buying ASLI, commented on that board.
robow: from Shares main feature article Big companies with big decisions to make in 2020 WILL FORESIGHT SOLAR ENTER THE SUBSIDY-FREE MARKET? Next year could prove momentous for the Foresight Solar Fund (FSFL), which makes money by selling power from its solar farms to electricity suppliers and it recently entered the FTSE 250. Thanks to increasing momentum behind renewable energy, building and running a solar farm in the UK is now becoming an economically viable thing to do without needing to rely on government handouts. This is something which could transform the industry and its growth potential going forward. Yet in addition to reviewing investment opportunities in UK subsidised solar markets, the investment manager Foresight is closely monitoring the development of subsidy-free markets in Spain, Portugal and the UK. This area has developed rapidly in Southern Europe, where a number of relevant transactions have been announced in Spain and Portugal, so 2020 might just mark the fund’s debut foray into the subsidy-free arena.
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