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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Henderson Smaller Companies Investment Trust Plc | HSL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 9.00 | 1.09% | 836.00 | 16:29:54 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 832.00 | 832.00 | 838.00 | 836.00 | 827.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 31/01/2024 | Interim | GBP | 0.075 | 08/02/2024 | 09/02/2024 | 05/03/2024 |
| 03/08/2023 | Final | GBP | 0.19 | 24/08/2023 | 25/08/2023 | 09/10/2023 |
| 26/01/2023 | Interim | GBP | 0.07 | 09/02/2023 | 10/02/2023 | 06/03/2023 |
| 04/08/2022 | Final | GBP | 0.17 | 25/08/2022 | 26/08/2022 | 10/10/2022 |
| 26/01/2022 | Interim | GBP | 0.07 | 10/02/2022 | 11/02/2022 | 07/03/2022 |
| 04/08/2021 | Final | GBP | 0.1675 | 26/08/2021 | 27/08/2021 | 11/10/2021 |
| 27/01/2021 | Interim | GBP | 0.07 | 11/02/2021 | 12/02/2021 | 08/03/2021 |
| 31/07/2020 | Final | GBP | 0.165 | 27/08/2020 | 28/08/2020 | 12/10/2020 |
| 29/01/2020 | Interim | GBP | 0.07 | 13/02/2020 | 14/02/2020 | 09/03/2020 |
| 02/08/2019 | Final | GBP | 0.165 | 08/08/2019 | 09/08/2019 | 08/10/2019 |
| Top Posts |
|---|
Posted at 03/5/2024 16:18 by 18bt Hurray! Finally:Henderson Smaller relents and buys back shares at 15% discount The board of the £600m Henderson Smaller Companies trust drops its reluctance to buy shares, making its first stock repurchases in 13 years. Jamie Colvin Henderson Smaller Companies (HSL) has started buying back shares for the first time in 13 years after deciding that tackling the deep discount warranted the risk of shrinking the £600m investment trust. Stock exchange filings show that when its shares fell to 15% below net asset value (NAV) in late March, the board stepped in for the first time since 2011, spending £746,523 on repurchasing its shares in 10 transactions. In a statement, the board (chaired by Penny Freer) said its goal was enhancing the trust’s NAV by buying the shares cheaply. ‘This reflects our view that the current combination of the deep value of the underlying portfolio alongside the discount to its net asset value at which HSL’s share price trades presents an attractive opportunity for shareholder value enhancement,’ the statement said. ‘The buyback is within the authority granted at the last AGM which allows for a maximum of 14.99% of the share capital to be acquired.’ The trust had become an outlier in resisting buybacks, which surged to a record £4bn in the investment companies sector last year, as boards responded to the derating of their shares caused by high inflation and interest rates. In the trust’s half-year report in January, Freer said an increase in investor confidence in the UK and strong investment performance would be key factors in narrowing the £593m trust’s discount. Fund manager Neil Hermon was also sceptical, telling Citywire last October that when Henderson Global Investors (as it was then known) took on the trust in the early 2000s, it had bought back 4% of the equity from November 2002 to 2011. ‘It had little to no impact,’ Hermon said, adding that the effect of buybacks typically wore off in a month and he was concerned that sustained buybacks risked shrinking a trust to ‘irrelevance&# Henderson Smaller is not the only trust to have had a change of heart on buybacks. As Citywire reported yesterday, Schroder Income Growth (SCF) last month bought back some shares for the first time in 16 years, although it has undertaken only one purchase so far. The board said the transaction demonstrated its confidence in the portfolio and confirmed it would continue to buy back shares to enhance asset value per share. It is possible that Henderson Smaller is responding to shareholder pressure. According to Refinitiv data, after wealth manager Evelyn Partners on 8%, its largest backers are value investors Lazard and Allspring Global Investments, which hold 4.4% and 4.1%, and would be keen on any measures to narrow the discount. Since Henderson Smaller first bought back stock on 27 March, shares in the £694m portfolio have risen almost 4%, with the discount narrowing slightly to 14%. In the past three years, the trust has been one of the worst performers in its sector with NAV falling 23% and shareholders suffering a total loss of 30% as a result of the share price discount. Over the same period, the Deutsche Numis Smaller Companies ex-investment companies index has declined 4%. In the March factsheet, Hermon said that the UK smaller company market had quietened down, with flotations tailing off since the first quarter, while weak economic activity has led to subdued corporate earnings growth in 2023 compounded by rising interest costs and a higher corporate tax burden. However, he pointed to the portfolio’s robust balance sheets, meaning its companies would be well-positioned to withstand an economic downturn. Its top holdings are Paragon Banking Group (PAG), housebuilder Bellway (BWY) and construction and infrastructure group Balfour Beatty (BBY), all of which are Citywire Elite stocks held by leading fund managers. |
Posted at 19/12/2023 16:23 by sharesoc In case you missed our webinar with The Henderson Smaller Companies Investment Trust plc (HSL), the recording can be found on our YouTube channel: |
Posted at 21/1/2022 10:42 by tomps2 HSL mentioned in latest PIWORLD/Stockopedia StockSlamDamian Cannon ‘slams’ Henderson Smaller Companies Investment Trust (HSL) in the latest PIWORLD/Stockopedia StockSlam at 3m Watch the video here: Or listen to the podcast here: |
Posted at 05/12/2020 11:24 by its the oxman Have to admit to taking a few profits at 1074p. Eliminated discount. Still hold plenty. Only problem what to reinvest in and still think hsl will go higher. |
Posted at 29/4/2020 14:31 by its the oxman HSL almost traded in line with nav at market peak. Suspect 5-7% discount could be the new normal. HSL is known for its decent track record so not expecting a double digit discount anytime soon. But just my view. Still c.50% gains from here c.750p if HSL can nudge back to old high just over 1100p |
Posted at 02/4/2020 18:52 by johnhelme2704 I am in at 664. An apparent professional on another board suggested there was value in the market at these levels. He said trying to catch the bottom was too difficult, and that it risked missing the value...so his suggestion pick an IT that pays a dividend and get paid that 3-4% dividend for a year or so while you wait for share prices to recoverSeems eminently sensible to me HSL has fallen about 40% in the last couple of months...very similar to some of my direct holdings. So selling those, and moving into HSL seems a no-brainer, and far less risky If you do pound cost averaging like the previous poster is doing it might even be better still |
Posted at 23/1/2018 11:16 by henryatkin Today HSL & BRSC have both achieved an average 23% pa for the nine years since 2009. Thats a total gain of 650%. Lesson learnt. |
Posted at 12/12/2016 12:52 by mozy123 Good News - Has HSL ever bought back and cancelled stock?They dont like doing it as it reduced AUM doesnt it? |
Posted at 25/8/2016 19:14 by luckymouse Like HSL - always been one of the strongest smallers |
Posted at 12/7/2016 08:43 by shavian Stability returns to the Goverrnment. Should be good for smaller companies. Back into HSL with gusto! |
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