Henderson Far East Income Investors - HFEL

Henderson Far East Income Investors - HFEL

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Henderson Far East Income Limited HFEL London Ordinary Share JE00B1GXH751 ORD NPV
  Price Change Price Change % Stock Price Last Trade
-1.50 -0.45% 330.50 12:23:54
Open Price Low Price High Price Close Price Previous Close
333.00 330.50 335.00 332.00
more quote information »
Industry Sector

Top Investor Posts

rik shaw: It makes sense as issuing at a premium to NAV enhances the net asset value for existing shareholders and enables the costs of the Company to be spread over a wider investor base. £37.5m issued by HFEL in previous FY.
carpingtris: Anyone think the current Divi of ~7% is sustainable? Pretty good compared to everything else that's available to savers/investors.
speedsgh: Message to shareholders regarding the dividend - HTTPS://www.investegate.co.uk/hendersonfare-incltd--hfel-/rns/message-to-shareholders-regarding-the-dividend/202006260700041418R/ On 23 June 2020, the Board of Directors (the 'Board') of Henderson Far East Income Limited (the 'Company') declared a third interim dividend of 5.80p per ordinary share for the year ending 31 August 2020. This equates to a 1.8% increase over the 5.70p paid for the second interim dividend. With the pressure on corporate dividends forefront in investors' minds, the Board felt it would be timely to outline some context behind the decision to raise the dividend, albeit modestly. The Covid-19 outbreak has caused pain and suffering across the world and has had a material impact on the economies of most countries with a great deal of uncertainty still lingering about the long term effects. The lockdowns have brought activity to a standstill resulting in significant pressure on corporate profitability and cash flow. Unsurprisingly, dividends have come under pressure, especially in the UK and Europe, with many well known names reducing or even cancelling their distributions. Asia has not been immune, but as the data from the third edition of the Henderson Far East Income Asia Pacific Dividend Index* suggests, the impact has been more modest and the region is expected to recover more quickly. The Board believes that the impact from Covid-19 does not change the structural growth story for Asian dividends and has reasons to be confident that the positive trajectory will resume once the virus has been contained. The companies held within the portfolio are cash generative, with strong balance sheets and have the ability to continue to pay dividends during times of stress and to grow them once normality returns. With this in mind, the Board felt that a modest increase in dividend reflected the underlying structural positives while being mindful of the volatile environment that persists. In order to facilitate this, a modest drawdown of the revenue reserve may be required, but the Board feels that this is justified considering the current environment. Looking beyond this financial year, the Board expects dividends to recover in the Asia Pacific region but stands ready to utilise the Company's revenue reserves should the need arise. Revenue reserves are shareholders' money held back to smooth distributions in times of stress and the Board feels that the current environment is an appropriate time to utilise this benefit of the closed ended structure.
essentialinvestor: RCT, Well never say never, but I would see that as an unlikely outcome - outside of a dividend cut. As mentioned yesterday any dividend reduction would alter investor sentiment. There are Asian trusts available on large NAV discounts currently. Just off topic and fwiw RCT, might be a little careful of PHTM, I know this company well and held in quantity previously, as per my posts from a few years ago. I sold out just under 1.70 on average. Will PHTM be able to maintain their dividend?, would question that. Corporate strategy arguable looks s little scatter gun, too many business areas? The B2B laundry investment I strongly disagree with, B2C bullish on. Very much a case of IMV only, DYOR. I met Dan David a number of times back in the day.
essentialinvestor: Interestingly just looking at the Kospi from overnight, it was only 1% lower, even with the number of coronovirus cases multiplying In South Korea. What investors may discover is it's stocks with large UK and European exposure that are now in the full firing line.
tim 3: Am a long term investor with these missed to many opportunities in the past trying to bag the bottom.Still think in a year or less the virus will not be a focus for the market.
exel: Sadly, I can't add much content to the superb inputs from ALL posters above. This BB has literally been catapulted into orbit! after a very quiet preceding phase. So, thanks very much ALL for taking the time to update us, notably andyj! It may seem a touch blasé at this point of emerging global crisis (yet another?) to point out that HFEL appears extremely well run. I spoke to the Chair and to both fund managers at the 23/1/20 AGM after listening very carefully to the preceding presentations. Mike Kerley and Sat Duhra are very impressive professionals, whether from the podium or in personal conversation. They are also both relatively cautious and risk averse - which is not the same as suggesting that all their invested positions will remain immune from whatever market contagion sweeps across the wider FE region! There is also core investor appetite for this stock. Just 'this week', a further £3.6m has been taken in for new shares, bringing the total in the current financial year to £26,892,025 at an average issue price (YTD since 1/9/19) of 359.52p - being a capital base uplift of 5.7%. We do need to remain balanced, while (ever more so!) managing our own short term expectations from this (or any) stock.
pj fozzie: Interesting stuff. I wonder what the impact will be on private investors? Will we even notice any difference. Cheers, PJ
rahosi: Just tried to top up a few - Can't Company hasn't made available the document - 'Key Investor Information Document' that is required for the new compliance regulations- 'Costs and Charges Disclosure Document' is available. Thus buying is 'not allowed' at the moment. End result is that 'compliance' is distorting the market for HFEL at the moment.
aleman: Http://www.investmentnews.com/article/20170819/FREE/170819952/big-gains-attract-new-money-to-emerging-markets-but-should-investors
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