Gore Street Energy Storage Dividends - GSF

Gore Street Energy Storage Dividends - GSF

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Stock Name Stock Symbol Market Stock Type
Gore Street Energy Storage Fund Plc GSF London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-0.50 -0.45% 110.00 08:18:40
Open Price Low Price High Price Close Price Previous Close
110.00 110.00 110.00 110.00 110.50
more quote information »
Industry Sector

Gore Street Energy Storage GSF Dividends History

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

Top Dividend Posts

cocopah: The total number of shares in circulation is currently 276.22 million … so the cost of the divi this year at 7p is going to be £19.3m. This means net income must increase by at least £5m on the net income just reported. Actually it will need to be higher because of course the payout ratio will not be 100%. I couldn’t find a strategic objective related to the payout ratio but let’s assume it’s 65% (finger in the air) then net income needs to be c£30m this year. I have no idea whether this is easily achievable or not because it isn’t clear what this year’s increase in capacity will be, when it will come online and how the net income increase just reported for last year was attributable to additional capacity (and when that came online). If anyone can enlighten me I would be grateful.
mirandaj: This is a very good site if you ever wish to check on RNS. For example for GSF https://www.investegate.co.uk/Index.aspx?searchtype=3&words=GSF Or click on "Today's announcements" and it gives all RNS for companies as they appear.
2paperman: Last dividend in March, next one seems overdue ?
cocopah: PDT you may have hit the nail on the head and some investors may have sold taking profits especially if they bought at 1.02-1.04 here (perhaps thinking that when our results are announced another fund raise will be too). Personally I wouldn’t be surprised if there is as GSF will need to keep growing to maintain their first-mover advantage. As an income investor I’ll probably resist the opportunity to make some short-term money on such a bet, others will no doubt think differently. Interesting that GRID were trading at £1.21 on a NAV of £1.06, a premium of 13%-ish before today’s announcement. I’d like to think that our NAV is north of £1.02 now so we are still trading at a lower premium than they were. If I had one wish it would be that we received monthly NAV updates (e.g. like SEQI do) and/or that GSF had a Twitter page which they used to communicate with investors. Gore Street do have a Twitter page … last used in 2018! 😂🤷‍♂️👍🏻
bbonsall: Knowing how stupid the market is makes me wonder if the large investment announced by Nissan today has anything to do with the drop. Perhaps the market thinks the Nissan plan to manufacture batteries makes it a competitor of GSF!
cocopah: Mirandaj Great share thank you! Given the focus on first mover advantage I wouldn’t be surprised if there is a ripple of capital raises once GSF is certain of the returns in Europe. Paula came across as very confident and focused on squeezing every bit of IRR from Cap-ex as possible. Interesting debate on the 4hr threshold. I would think that first movers will also get the benefits of additional revenue streams.
cocopah: I’ve got an ex divi date of the 8th of July and pay date of the 22nd of July for the 1st divi (1p), no firm announcement as of yet, is that right?
spectoacc: Noticed NESF this morning the latest to pivot more to battery storage - aiming for c.10%. Is only going to help GSF NAV, even if it bids prices up longer term.
pob69: New video presentation hTTps://quoteddata.com/gsf/
ironpyrites: Hi CWA1 I too have been looking at these. I have been wanting to add an IT in the sub-sector ‘renewable energy infrastructure’ to my portfolio. Gresham House Energy Storage (GRID) have recently issued new shares. The Issue Price represented a discount of approximately 4.5% to the closing share price of 110.0 pence on 9 November 2020 and a premium of approximately 4.2% to the last reported NAV of 100.77 pence as at 30 September 2020. This offering was over subscribed: https://www.investegate.co.uk/gresham-house-energy/rns/result-of-placing-and-offer-for-subscription/202011250700093929G/ ‘The Initial Tranche has successfully raised gross proceeds of £120 million through the issue of 114,285,714 ordinary shares of 1 pence each in the capital of the Company (the "New Ordinary Shares") at an Issue Price of 105 pence per New Ordinary Share.’ There was a scaling back of applications. This bodes well for Gore. GSF and GRID offer very similar energy assets – basically lithium-ion batteries. This is a growth area and the batteries are getting cheaper. Just worth saying that Gore are not specifically wedded to the use of lithium-ion batteries for storage and state that they are ‘agnostic’ in their use and will monitor any new storage vehicles if they become viable. Gore’s assets are mainly in Ireland and UK and they have a pipeline of investment opportunities lined up (as did GRID). Gore currently has an active placing (closes 14th December). ‘The Issue Price represents a discount of approximately 7.8 % to the closing middle market share price of 108.5 pence per share on 27 November 2020 and a premium of approximately 3.6 % to the last reported NAV of 96.2 pence as at 30 June 2020.’ The share price has dropped to 106.5p today https://www.investegate.co.uk/gore-street-energy--gsf-/rns/proposed-placing-and-intermediaries-offer/202011300700088403G/ GSF and GRID offer very similar energy assets – basically lithium-ion batteries. Gore’s are mainly in Ireland and UK Looking at the renewable energy storage sector as a whole the average price premium is in double figures and is the reason I haven’t invested here as yet. I generally try to buy ITs at a discount. As the last NAV for Gore was in June you could argue that the NAV is likely to be higher and quite close to the 100p offer. The other tempting factor is that the yield is 6.6% and shares bought in the placement will attract the full September (quarterly) dividend payment – paid in December. ‘investors in the Initial Issue will be entitled to receive the next quarterly dividend for the period to 30 September 2020, which is expected to be declared around mid-December 2020’ Knock this 1.5p off the issue price and in effect you will be buying the shares close to par. Some might be put off by one of the directors Daniel Mudd being a former CEO and president of Fannie Mae when this big US mortgage company was involved with sub-prime lending in the 2008 crash. More recently he has been CEO of Fortress (Hedge Fund) in New York. I am still mulling this one over but if you are interested you need to register on Primary Bid hxxps://primarybid.com/ to apply for the offer. Regards Iron
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