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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Henderson Far East Income Limited | HFEL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.50 | 0.70% | 217.00 | 16:35:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 219.00 | 216.00 | 219.00 | 217.00 | 215.50 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/01/2025 | Interim | GBP | 0.062 | 30/01/2025 | 31/01/2025 | 28/02/2025 |
| 15/10/2024 | Interim | GBP | 0.062 | 24/10/2024 | 25/10/2024 | 29/11/2024 |
| 10/07/2024 | Interim | GBP | 0.062 | 25/07/2024 | 26/07/2024 | 30/08/2024 |
| 16/04/2024 | Interim | GBP | 0.061 | 25/04/2024 | 26/04/2024 | 31/05/2024 |
| 16/01/2024 | Interim | GBP | 0.061 | 25/01/2024 | 26/01/2024 | 23/02/2024 |
| 17/10/2023 | Interim | GBP | 0.061 | 26/10/2023 | 27/10/2023 | 24/11/2023 |
| 21/06/2023 | Interim | GBP | 0.061 | 27/07/2023 | 28/07/2023 | 25/08/2023 |
| 19/04/2023 | Interim | GBP | 0.06 | 27/04/2023 | 28/04/2023 | 26/05/2023 |
| 17/01/2023 | Interim | GBP | 0.06 | 26/01/2023 | 27/01/2023 | 24/02/2023 |
| 19/10/2022 | Interim | GBP | 0.06 | 27/10/2022 | 28/10/2022 | 25/11/2022 |
| 22/06/2022 | Interim | GBP | 0.06 | 28/07/2022 | 29/07/2022 | 26/08/2022 |
| 24/03/2022 | Interim | GBP | 0.059 | 28/04/2022 | 29/04/2022 | 27/05/2022 |
| 20/01/2022 | Interim | GBP | 0.059 | 27/01/2022 | 28/01/2022 | 25/02/2022 |
| 19/10/2021 | Interim | GBP | 0.059 | 28/10/2021 | 29/10/2021 | 26/11/2021 |
| 25/06/2021 | Interim | GBP | 0.059 | 29/07/2021 | 30/07/2021 | 27/08/2021 |
| 22/04/2021 | Interim | GBP | 0.058 | 29/04/2021 | 30/04/2021 | 28/05/2021 |
| 20/01/2021 | Interim | GBP | 0.058 | 28/01/2021 | 29/01/2021 | 26/02/2021 |
| 06/10/2020 | Interim | GBP | 0.058 | 29/10/2020 | 30/10/2020 | 27/11/2020 |
| 24/06/2020 | Interim | GBP | 0.058 | 30/07/2020 | 31/07/2020 | 28/08/2020 |
| 23/04/2020 | Interim | GBP | 0.057 | 30/04/2020 | 01/05/2020 | 29/05/2020 |
| Top Posts |
|---|
Posted at 13/3/2025 14:14 by yump I suppose there are two independent ROC’s, HFEL’s dependent on their investment performance and ours on our purchase price.I assume looking at the share price history, at some point hfel shares were yielding 5% and their investments were yielding 5%. Then the share price halved. |
Posted at 11/3/2025 18:24 by kenmitch It’s more likely it’s the 10.5% dividend that’s keeping HFEL at a premium. It would be at a big discount but for that dividend support because performance has been poor for too long. Plenty of Trusts are buying back and they are often failing to reduce discounts and in some cases have seen discounts widen, despite those buybacks. |
Posted at 05/3/2025 22:39 by fenners66 Ok so I have turned to the words.Buyback done when there was a discount to NAV and shares issued when there was a premium. Pretty simplistic. There is a statement about the dividend "pleasing to confirm that our dividend has been fully covered by portfolio revenues" " We will, as we always do in years of surplus, be adding a considerable amount to the revenue reserve which we seek to strengthen when we can.The revenue reserve can be used to smooth dividends through periods of revenue shortfall. This reserve now stands at £29.9m." Errmm Now I confess I am no expert on this style of accounts presentation and if it is commonplace But Total comprehensive income was £ 39,329 k and Dividends paid were £ 39,927 k The Revenue reserve part did cover the dividend but all the costs were split arbitrarily (it seems) 50/50 between the Revenue return and the Capital Return and the dividend utilised "Distributable Reserves" to enable the increase in "Revenue Reserve" So whilst its factually correct the dividend was not covered by comprehensive income and generally that would be the measure of coverage - (elsewhere). I guess its a moot point - the real point is the dividend was paid and has since risen. |
Posted at 08/11/2024 07:50 by njb67 HFEL have historically "chased" dividends, timing their buys and sells to maximise dividend payments, but simultaneously incurring capital losses. The new fund manager was tasked with changing this approach and has been in control for just over a year iirc. The jury remains out on whether the approach has really changed, especially as the increasing dividend target remains a stated goal.Two potential watch outs for my perspective - the very high churn of stock and the schizopherenic relationship with Chinese holdings. These were out of favour when the new fund manager took over, but now as Aleman points out make up the majority of the income in the fund. Are HFEL still chasing dividends? I have a small holding here but it is under review. The results have likely bought it more time. |
Posted at 04/9/2024 08:24 by njb67 FordtinI take your point. I had implicitly assumed that the dividend growth would cover the top slicing of stock, albeit that is an important assumption. As someone whose portfolio will in the next few years provide my retirement income, I would not count on the full HFEL dividend when calculating my annual income. Perhaps no more than half, to bring it into line with others in the sector, and anything above this is then a bonus. |
Posted at 03/9/2024 09:37 by fordtin Mostly disagree. Those of us who rely on dividends as a part of our retirement income would have an ever diminishing income if we had to sell shares to subsidise a dividend cut.Slashing the dividend because woeful share price performance has artificially inflated the yield, results in a double whammy for anyone who has trusted the management and has ridden the storm through market down-turns. The current dividend yield for anyone holding shares for 5 years, is only ~7%. Slashing that ~7% would be a huge red flag pointing to extremely poor and untrustworthy management. I’ve unfortunately owned shares in several companies which have slashed their dividends. The inevitably poor share price performance post divi cut has taught me to take the loss and move on as soon as possible. If HFEL lose the trust of passive long-term investors, it’s unlikely they’ll ever trade at a premium again, as they’ll probably become just another traders’ plaything being churned over at a very large discount to NAV. |
Posted at 02/9/2024 09:58 by njb67 I tend to pay most interest in total share holder return as the underlying performance metric. (As an aside, I currently use NAV TSR rather than share price TSR as the share price discounts in the IT sector are distorting comparisons).IF HFEL consistently deliver 10%+ per annum total shareholder return, then I am agnostic whether they pay out the full amount as dividend or retain some of it to grow NAV (with one hopes an equivalent increase in the SP). So, as an example. with a 5% divi and 5% annual share price growth, I can choose to top slice some of my holding if I want to cash in the full 10% increase in shareholder value per annum. That becomes a personal investment choice. There are some ITs who pay out most of their income each year as dividends, so NAV growth is low. There are others who pay out nothing and have a faster NAV growth rate. As long as total returns meet your personal threshold, then imv that is more important than the dividend policy. HFEL have been poorly managed in recent years, chasing yield to the detriment of total returns. One year in from their reset, they are doing ok, a 10% NAV total shareholder return secures them a mid-table ranking in the Asia Pacific sector (17% is best performance). If HFEL can maintain double digit annual TSR over the medium to long term, then most of us should be happy. Time will tell. |
Posted at 08/7/2024 10:52 by kenmitch zaco4I forgot that the next dividend should be another increase after the 4 at 6.1p, to keep up their long record of annual increases. There would be no point holding at the current 6.1p quarterly as that would break that long annual increase record. I.e no point just holding, So probably another token increase to be announced this week. Bearing in mind their comments about the dividend in their updates, a cut seems VERY unlikely. Also until recently the big dividend has been at the expense of capital gains with HFEL by far the worst performer in the sector. BUT new Manager and change of tactics, as they’ve explained in their updates, could mean much better performance ahead and capital gains as well as huge dividend. Already the share is well off the bottom at 242p compared with 198p low last October. Pleased I topped up then to average down and maximise dividend yield too. |
Posted at 08/4/2024 13:12 by njb67 Within Asia Pacific, I mainly hold AAIF. Share price and NAV have beaten benchmark over 1, 3 and 5 years. Pays 5.7% yield and has increased dividend for last fifteen years.HFEL dividend is imv more a sign of poor management over recent years than a reflection on the health of the underlying business. HFEL appear to have chased annual dividend increases to the detriment of total share price and NAV return. Recent acknowledgment of this issue and a commitment to change approach have brought me back to HFEL. I have for now a small position and will wait and see if overall performance improves. I would prefer to see the dividend consistently fully covered by income, even if this means a reset of the dividend to something more sustainable. A 7% yield would still be sector leading. |
Posted at 17/1/2024 10:46 by 2sporrans While there is plenty of doom & gloom to be read wrt economic and investment situation in the Asia Pacific region, especially if China focused, i keep finding positive news in the mix.I realise that posting up on another fund's performance isn't quite what some here want to read but i hope the underpinning +ve message, one of robustly growing dividend payouts across Asia, is well received. "The total dividend for 2023 amounts to 11.75p, representing an increase of 17.5% compared to the previous year (2022: 10.00p), and the Board is pleased to note that this represents the fifteenth consecutive year of annual dividend increases and means that the Company continues to be a "next generation dividend hero" as recognised by the Association of Investment Companies. The dividend for the year equates to a dividend yield of 5.8% based on the closing share price of 201p on 12 January 2024 and is expected to be fully covered by earnings for the year ended 31 December 2023." I still keep a reduced holding in HFEL; building in AAIF the past 2 years. AAIF, with a greater focus on "Quality" companies, has a substantially better total return performance and the [fully covered] dividend growth is far faster. Also AAIF trades at 13% discount to NAV, HFEL 4 to 5% lately. The question remains with HFEL: How much of the very high - now ~12% - divi is paid out of fund income and how much from capital, or capital sacrifice? |
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