Gresham House Energy Sto... Dividends - GRID

Gresham House Energy Sto... Dividends - GRID

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Stock Name Stock Symbol Market Stock Type
Gresham House Energy Storage Fund Plc GRID London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.50 0.42% 120.25 14:00:17
Open Price Low Price High Price Close Price Previous Close
119.75 119.75 120.25 120.25 119.75
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Industry Sector

Gresham House Energy Sto... GRID Dividends History

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

Top Dividend Posts

cwa1: Result of Placing and Total Voting Rights Further to its announcement of 1 July 2021, the Directors of GRID are pleased to announce that the Company has raised gross proceeds of GBP100 million through the issue of 89,285,714 Ordinary Shares of 1 pence each in the capital of the Company (the "New Ordinary Shares") (the "Placing"). The Issue Price per New Ordinary Share was 112.0 pence. The Placing was significantly oversubscribed and a scaling back exercise has been undertaken.
marktime1231: Having the premium knocked out of the share price is a price worth paying if it funds the growth of underlying NAV, which I hope it will, and strengthens the dividend prospects which I am sure it will and is why I invested. Not for growth, for income. It is an income investment. Jam tomorrow, and the next day, which is what we can retire on. I don't want to sell what my retirement is based on to realise share price gains, I want the income and value to appreciate over time. Very happy with GRID and how it is proceeding, hope it keeps going until assets top £1B, if we only could invest earlier in order to exploit the benefits of NAV growth through development. And since I bought in before the wide premium, it has just lost me on paper what I had gained on paper. While the top-drawer dividend is sustained or grows, all good.
marktime1231: Here for the income and delighted by that news of how well covered the current dividend is now. And I don't really mind that the placing has knocked the premium out of the share price, so long as NAV grows a little over time. Will it keep expanding ... while Gresham the parent has a tame customer for its investment projects and is getting all the benefit of the development? If I had some cash in the right place I would be topping up ahead of the ex-div, note to self always keep a little cash on hand for surprise opportunitites.
pavey ark: I've been here since the beginning and happy with my investment.My only problem with the running of the company is that the original prospectus did say they would gear the balance sheet and therefore increase the dividend.As far as I can see they have just come back to the market for more cash.In a rush this morning so haven't gone over the details but first thought is that I'd prefer debt.
pdt: I liked this part of the news today; "The addition of projects comprising the Current Pipeline and Subsequent Pipeline, which are expected to be designed and built more cost-effectively than earlier projects, is expected to be transformational in terms of the revenue level at which the Company covers its dividend, its competitive position and the potential for value creation for shareholders" And from the Trading Update "As a result, dividend cover is expected to be above 1.3x for the first half of 2021" I suspect there will be strong demand for the fundraise.
cwa1: Placing at 112p, etc:-
marktime1231: Very impressed with the 2020 and Q1 2021 reports this week. Only been running a couple of years but GRID has now built capacity to 425MW and with cash in the bank to cover planned expansion to 700MW by this time next year, so far concentrating on assets which are operational and so low risk. 7p per share dividends were only 0.78x covered by income in 2020, but that overlooks the rapid expansion and new higher rate revenue streams available. It says the revenue runrate in Q1 2021 was sufficient to cover a maintained 7p dividend 1.3x, even before deploying the cash available to bring online another 275MW. That must mean there are prospects for a progressive dividend. NAV steadily growing and a rising share price which at 117p carries a 9% premium to NAV at 107p. In future it says it now has the economic muscle to continue exploiting a 2022 onwards pipeline c. 500MW by debt fundraising rather than issuing new shares, and by investing in projects at an earlier stage it will see NAV enhancement with each new investment. A little bit more risk but not much more, and it says prices per MW to invest are coming down with scale. The demand for energy storage to support a UK renewable energy capacity of 30-50MW will be around 20GW including longer duration, and yet so far we have battery storage of only around 1GW and all short duration. GRID is the leader in the market and intends to stay out front. As an alternative to oil and gas stocks GRID seems an ideal income provider with low risk far horizon appreciating value and high yield. It is still early days of course, but it has already proven that it can easily cover an attractive dividend. There are other options in this space, but I like this one.
marktime1231: The Gresham House Energy Storage Fund (GRID) is an income trust paying a high yield from the ownership of battery energy storage assets providing capacity management and frequency balancing services to National Grid. Increasingly vital as we develop intermittent renewable energy supply, to help cope with peak demand periods and to cover when the wind doesn't blow and the sun doesn't shine.
speedsgh: Quarterly NAV, Dividend and Factsheet publication - HTTPS:// Q1 2021 NAV Gresham House Energy Storage Fund Plc (LSE: GRID) (the "Fund") announces its NAV as at 31 March 2021 was £371.8m or 106.66p per ordinary share. Dividend Declaration The Board is pleased to announce a dividend of 1.75p per Ordinary Share for the period from 1 January 2021 to 31 March 2021. The dividend will be paid on 4 June 2021 to Shareholders on the register as at the close of business on 14 May 2021. The ex-dividend date is 13 May 2021. OTHER EXCERPTS "There was a 4.36p uplift from the revaluation of projects recently acquired (previously held at cost) while income in excess of dividend distributions in the quarter accounted for a 0.72p benefit. Partially offsetting this by 1.22p were a more cautious set of assumptions which included taking into account the impact of the corporation tax rate rising to 25% from 2023, as announced in the recent Budget." "Dividend coverage in Q1 2021 was c.1.3x despite a significant cash balance and, as such, the Fund remains committed to its dividend policy of 7.0p per share paid in equal quarterly instalments." "Finally, the Fund is exploring a debt facility which is expected to drive down its cost of capital which, in turn, is expected to be significantly accretive to GRID's overall return on capital, once any debt facility is fully deployed. The Fund will provide a further update in due course." "The Investment Manager is also preparing to commence construction, subject to final due diligence, on a further 275MW across five projects (one is 100MW, two are 50MW and the other two are 40MW and 35MW respectively). The construction of these projects will fully commit all the funds raised in the November 2020 equity issue. The Fund has a significant additional exclusive pipeline of 527MW across eight projects which will be built subject further debt and/or equity fundraising."
rambutan2: 19 February 2021 GRESHAM HOUSE ENERGY STORAGE FUND PLC ("GRID" or the "Company") Declaration of Dividend Gresham House Energy Storage Fund PLC (LSE: GRID) is pleased to announce a dividend of 1.75p per Ordinary Share for the period from 1 October to 31 December 2020. The dividend will be paid on 26 March 2021 to Shareholders on the register as at the close of business on 5 March 2021. The ex-dividend date is 4 March 2021. Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 1.75 pence per Ordinary Share, 0.23 pence is declared as dividend income with 1.52 pence treated as qualifying interest income. This dividend completes the 7.0p per share dividend target for 2020 and the Board is pleased to confirm its commitment to delivering a 7.0p per share dividend for 2021.
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