It's not going to reflect the horror show of Labours destruction. |
Top 10 holdings
As at 30/11/2024
British American Tobacco 4.86%
Unilever 3.38%
Imperial Brands 3.13%
HSBC 3.10%
Rio Tinto 3.08%
RELX 2.74%
Shell 2.59%
3i Group 2.48%
NatWest Group 2.15%
Phoenix Group 2.09% |
Good to see 2024 Div 10.60p covered by revenue, can expect 11p odd in 2025, has been great income stock with a capital gain as well. |
29 November 2024
HENDERSON HIGH INCOME TRUST PLC
PAYMENT OF FOURTH INTERIM DIVIDEND
Henderson High Income Trust plc announces that a fourth interim dividend of 2.675p per ordinary share of 5p, in respect of the year ending 31 December 2024, will be paid on 31 January 2025 to holders registered at the close of business on 13 December 2024. This dividend is to be paid from the Company's revenue account. The Company's shares will go ex-dividend on 12 December 2024.
With the increase in the fourth interim dividend, the total dividend for the year to 31 December 2024 will be 10.60p, an increase of 2.4% on the previous year and the Company's 12th consecutive annual increase. The 10.60p dividend for the year to 31 December 2024 is expected, based on our current projections for the revenue account, to be fully covered by earnings with a surplus carried to the revenue reserves. |
Always a bit of a discount to NAV here ? Shareprice 161p.
As at close of business on 11 October 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 177.8p and the net asset value per share with debt marked at fair value was 179.0p. |
IC 14 August comment,
Henderson High Income (HHI) focuses mostly on larger UK companies to generate a high and growing level of income. Since David Smith took over the management 10 years ago, the trust has enjoyed a good track record over most time frames relative to its benchmark. Meanwhile, the progressive dividend policy is supported by meaningful revenue reserves. |
Over 10% discount atm is very good value |
Manager doing well last few days, NWB,ULVR,BAT,ASZ,PAG,3i & a few others!, good income fund also growing NAV. NAV should be over £1.80 now, hopefully share price can consolidate above £1.64. |
Good results today taking the trusts two largest holding Bats and unilever higher. Enjoying adding at a discount. |
not gone unnoticed by meand paying a nice reliable dividend |
Highest % NAV discount for a long time. |
What's wrong with this!! |
As at close of business on 30 May 2024, the unaudited net asset value per share calculated in accordance with the AIC formula (including current financial year revenue items) was 178.1p and the net asset value per share with debt marked at fair value was 179.4p.
As at close of business on 30 May 2024, the unaudited net asset value per share (excluding current financial year revenue items) was 175.6p and the net asset value per share with debt marked at fair value was 176.8p. |
Dividend Declaration -
Henderson High Income Trust plc announces that a second interim dividend of 2.625p per ordinary share of 5p, in respect of the year ending 31 December 2024, will be paid on 26 July 2024 to holders registered at the close of business on 14 June 2024. This dividend is to be paid from the Company's revenue account. The Company's shares will go ex-dividend on 13 June 2024. |
Continuing the NAV ascent guess about £1.80 odd banks,astra,ulvr,anglo,dcc in favour a good mix of growth/income a good core holding can't resist 6.3% yield & rising. Be my final add. |
Also along with Anglo and Unilever they have Astrazeneca which also did well yesterday.
Div payday today |
Agree, however comes with a fair chunk of gearing which enhances returns in a rising market - the reverse also applies. |
That's how I use it. Also currently at a very useful discount to nav, which appears undeserved. |
HHI good proxy for a bond fund, 6.7% & rising dividend. Has a big holding in ULVR & Anglo American good uplift today. Manager is well thought of bought 3i in advance of rise. Over 3 years +30%, same as Terry Smith. |
Recording of the recent Investor Meet Company presentation https://youtu.be/qbJVorE3VY4?si=qW4MuA3SYhpbWoGB |
101 different holdings at the last look, might be taking diversification a tad too far. |
NAV over 172p. When's the last time we were up here? Discount over 10% now. |
Dividend Declaration -
Henderson High Income Trust plc announces that a first interim dividend of 2.625p per ordinary share of 5p, in respect of the year ending 31 December 2024, will be paid on 26 April 2024 to holders registered at the close of business on 5 April 2024. This dividend is to be paid from the Company's revenue account. The Company's shares will go ex-dividend on 4 April 2024. |
 Portfolio review
The equity portfolio's holdings in companies that are typically expected to benefit from a cut in interest rates, such as housebuilder Taylor Wimpey and real estate companies Land Securities and Big Yellow, aided performance given their strong share price rises over December. The position in specialist buy-to-let lender Paragon was also positive for performance after the company announced very strong results with good loan growth and better net interest margins leading to betterthan-expected dividend growth. Given the positive market backdrop, holdings in financial companies such as Ashmore, Phoenix and Intermediate Capital, also benefited performance.
Conversely, the equity portfolio’s positions in British American Tobacco and Anglo American were negative for performance. British American Tobacco lowered its profit guidance for next year due to an increase in investment needed to become more competitive, and concerns about macroeconomic pressures in the US. Anglo American rebased its production guidance across most commodities given a reassessment of its operations under a new management team.
There was minimal trading activity during December. We added to the holdings in self-storage company Big Yellow and soft drink manufacturer Britvic, and reduced the position in Woodside Energy.
Manager outlook
Now that inflation is falling, the pressure on central banks to keep monetary policy tight is easing. This suggests that interest rates could be cut over the next 12 months. While the impact of the significant rise in interest rates on economic growth needs to be carefully watched, consumer borrowing has been historically low, corporate balance sheets are relatively robust and the banking sector is generally well capitalised.
With wage growth also likely to outstrip inflation next year - an environment that has never coincided with a recession in the UK - we believe the outlook for the UK economy could be better than the current low expectations. While risks remain, especially with heightened geopolitical risks in the Middle East, valuations in the UK market are attractive to us on a long-term view. |
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