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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Invesco Enhanced Income Limited | IPE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 73.80 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 73.80 |
| Top Posts |
|---|
Posted at 24/5/2021 08:50 by panshanger1 Has a new thread been set up for IPE / CMHY Now BIPS |
Posted at 21/5/2021 11:52 by mister md ii handled it by the close yesterday - got the dividend too. Has a date been set for CMHY'S name change ? |
Posted at 21/5/2021 10:36 by cc2014 I use HL and AJBell. I only have IPE with HL, which credited my dividend yesterday but the shares still show as IPE.Reading these BB over the years out of the mainstream brokers HL, AJBell provide the best service in terms of corporate action. Probably ii next and Barclays go to the bottom of the list |
Posted at 21/5/2021 10:00 by rahosi HSBC InvestDirect. Today, IPE still showing in my portfolio &, as usual, yesterday's dividend has not yet been credited.Am interested to know how other platforms perform. HSBC RARELY credit on dividend payment date and I'm getting fed up with them |
Posted at 20/5/2021 18:10 by marktime1231 According to an announcement by CMHY today its merger with (acquisition of) IPE completed today.My 0.75p bonus dividend on IPE shares landed this morning, and the IPE holding was wiped. In exchange we will receive 0.383084 shares in CMHY for every IPE held. This should show up in your portfolio tomorrow if it didn't already today. Future dividends are expected at the rate of 11p per annum in quarterly instalments of 2.75p per share, the next ex-div in mid July. A yield c. 5.7% at a price around 193p. At some stage I think pretty soon the combined entity will be renamed BIPS. I wonder if a member on here will set up a BIPS thread now this one is defunct. |
Posted at 01/3/2021 13:04 by scrwal So for both companies there is a dividend rerating downwards. Forward yield for IPE holders is 6% based on Friday close.Based on the time frame we should get the usual 1.25p in April plus the 0.75p special as well. |
Posted at 01/3/2021 07:50 by speedsgh Proposed Merger with City Merchants High Yield Trust Ltd - The Board of Invesco Enhanced Income Limited (the “Company&rdquo It is proposed that IPE will be merged into CMHY and the current fund manager of both IPE and CMHY, Rhys Davies, will continue as the fund manager of the enlarged entity which will be renamed Invesco Bond Income Plus Limited (“BIPS”) which, based on the existing net assets of IPE and CMHY, would have net assets in excess of £300 million. (The above proposals are referred to herein as the “Proposals&rdq The Board believes that the Proposals will enable IPE shareholders to benefit from greater economies of scale that are expected to result from the enlarged asset base of BIPS whilst retaining the same investment approach and manager. Benefits of the Proposals to IPE Shareholders The Board believes that the Proposals have a number of benefits for IPE shareholders: ~ Greater scale through the combination of similar investment portfolios: Shareholders will be able to continue with the same fund management company and investment manager with a similar investment style. Rhys Davies currently manages both funds with a good track record and does so with a similar investment objective of high income and a focus on high-yield fixed-interest securities. There is a high degree of overlap between the two investment portfolios. ~ Lower management fee arrangements: In connection with the Proposals, it has been agreed with Invesco Fund Managers Limited (“IFML”) that the management fee will be reduced to an annual amount equal to 0.65 per cent of the total assets less current liabilities to reflect the larger size of BIPS. This is a reduction from the IPE tiered annual management fee with a current blended rate of 0.76 per cent of IPE’s net assets; other costs will be spread across a larger asset base resulting in further economies of scale. ~ Sustainable income level: It is anticipated that the income yield payable to IPE shareholders will be placed onto a more sustainable basis as a consequence of the transaction. In addition, IPE shareholders will be paid a special pre-liquidation dividend of 0.75 pence per IPE ordinary share ahead of the transaction. ~ Increase in scale and improved liquidity: The Board expects that the enlarged entity will benefit from greater liquidity in its shares. ~ Potential for strong share price rating: The Board believes that the above benefits should assist the shares in maintaining a strong rating as the greater scale of BIPS is expected to result in broader market appeal. The Proposals will be subject to the approval by the shareholders of both IPE and CMHY in addition to regulatory and tax approvals. A timetable and further details of the Proposals will be announced in due course... Dividend Policy In connection with the Proposals, it is proposed that BIPS adopt a dividend policy to target an annual dividend of 11.0 pence per share over a three year period following the implementation of the Scheme by way of 4 quarterly dividends of 2.75 pence per share. This is approximately equivalent to an annual dividend of 4.25p per share for IPE shareholders[1]. It is anticipated that dividends will be substantially covered by net income from the portfolio, although BIPS will support the target dividend over this period through the use of revenue and capital reserves if necessary. Thereafter, the Board of BIPS shall give consideration to its ongoing dividend policy, taking into account the annualised net income from its portfolio and the market environment at that time. This proposed dividend policy has been agreed between the Board of IPE and CMHY in recognition of the differential in income distribution ratios adopted by each of the two companies and is intended to provide a path towards a longer-term sustainable income distribution to shareholders of BIPS. Whilst the target dividend of 11.0 pence per share would result in a reduction in the annual dividend income for IPE’s shareholders compared with IPE’s historical dividend pay-out, IPE shareholders will be paid a special pre-liquidation dividend of 0.75 pence per IPE ordinary share ahead of the transaction, which is expected to be approximately equal to the reduction for the first year following the merger. IPE’s dividend has been supported by the use of revenue reserves for several years. As noted in IPE’s 2020 Annual Financial Report, the medium term effects of Covid-19 will likely bring a prolonged period of very low interest rates, in light of which the Board would be reviewing whether the dividend policy is sustainable, balancing the need for current income against the requirement to preserve investors’ capital to earn that income in coming years. The Board of IPE has taken this into account when considering the dividend proposals set out above and believes they will continue to provide an attractive level of income for IPE shareholders over the long-term... Expected timetable It is currently envisaged that a shareholder circular and notice of the general meeting setting out the details of the Scheme and seeking shareholder approval will be sent to shareholders in April 2021. The relevant general meetings are also expected to be convened in May 2021. The Chairman of IPE, Kate Bolsover , commented: “We believe the combination of the two trusts to form Invesco Bond Income Plus (“BIPS”) to be beneficial and appropriate for IPE shareholders given the greater scale and lower ongoing charges. The Board believes the Proposals will provide an attractive and sustainable level of income for IPE shareholders over the long-term whilst also promoting greater liquidity in its shares and a strong long-term share price rating. The continuation of investment approach which will be led by the same fund manager and fund management house underpins the clear rationale for the merger, allowing shareholders to benefit from the manager’s strong track record.” |
Posted at 26/2/2021 12:13 by speedsgh Dividend Declaration - The Directors of the Company are pleased to announce the 2nd interim dividend, in respect of the period from 1 January 2021 to 31 March 2021, of 1.25 pence per Ordinary share. This dividend will be paid on 30 April 2021, to shareholders on the register on 9 April 2021. Shares will be quoted ex-dividend on 8 April 2021. |
Posted at 27/11/2020 10:31 by speedsgh A warning in today's results that the current dividend policy is to be reviewed...Annual Financial Report - "In the current economic and market environment, your Board continues to believe that shareholders place great value on the Company’s consistent dividend stream and has prioritised revenue generation through investment in relatively high-yielding and considered debt positions. Market yields remain at historically low levels but, despite this, your portfolio managers have generated a net revenue return of 4.54p per share. During a period when many companies have been forced to suspend dividends, the Board has maintained the 5.00p annual dividend for the year and a fourth interim dividend of 1.25p per share was declared on 22 September 2020. The shortfall of net revenue earned versus dividend paid was 0.46p which is the equivalent of £793,000 (2019: £525,000). This has been funded from revenue reserves which the Company has accumulated over a number of years. Our dividend policy has served investors well, but the medium term effects of Covid-19 will likely bring a prolonged period of very low interest rates. With that in mind the Board will be reviewing whether the policy is sustainable, balancing the need for current income against the requirement to preserve investors’ capital to earn that income in coming years." |
Posted at 24/11/2020 13:54 by speedsgh Dividend Declaration - The Directors of the Company are pleased to announce the 1st interim dividend, in respect of the period from 1 October 2020 to 31 December 2020, of 1.25 pence per Ordinary share. This dividend will be paid on 29 January 2021, to shareholders on the register on 8 January 2021. Shares will be quoted ex-dividend on 7 January 2021. |
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