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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Octopus Renewables Infrastructure Trust Plc | ORIT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.30 | -0.42% | 70.40 | 14:38:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 67.30 | 67.30 | 70.90 | 70.70 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 29/01/2024 | Interim | GBP | 0.0145 | 08/02/2024 | 09/02/2024 | 23/02/2024 |
| 06/11/2023 | Interim | GBP | 0.0145 | 16/11/2023 | 17/11/2023 | 01/12/2023 |
| 07/08/2023 | Interim | GBP | 0.0145 | 17/08/2023 | 18/08/2023 | 01/09/2023 |
| 09/05/2023 | Interim | GBP | 0.0144 | 18/05/2023 | 19/05/2023 | 02/06/2023 |
| 31/01/2023 | Interim | GBP | 0.0131 | 09/02/2023 | 10/02/2023 | 24/02/2023 |
| 03/11/2022 | Interim | GBP | 0.0131 | 10/11/2022 | 11/11/2022 | 25/11/2022 |
| 29/07/2022 | Interim | GBP | 0.0131 | 11/08/2022 | 12/08/2022 | 26/08/2022 |
| 05/05/2022 | Interim | GBP | 0.0131 | 12/05/2022 | 13/05/2022 | 27/05/2022 |
| 19/11/2021 | Interim | GBP | 0.0125 | 17/02/2022 | 18/02/2022 | 04/03/2022 |
| 02/11/2021 | Interim | GBP | 0.0125 | 11/11/2021 | 12/11/2021 | 26/11/2021 |
| 10/06/2021 | Interim | GBP | 0.0125 | 12/08/2021 | 13/08/2021 | 27/08/2021 |
| 10/05/2021 | Interim | GBP | 0.0125 | 20/05/2021 | 21/05/2021 | 07/06/2021 |
| 05/02/2021 | Interim | GBP | 0.0106 | 18/02/2021 | 19/02/2021 | 05/03/2021 |
| 02/11/2020 | Interim | GBP | 0.0106 | 12/11/2020 | 13/11/2020 | 27/11/2020 |
| 03/08/2020 | Interim | GBP | 0.0106 | 13/08/2020 | 14/08/2020 | 21/08/2020 |
| Top Posts |
|---|
Posted at 11/4/2024 17:16 by gopher No hurry to buy in here, the 6p dividend is the temptation but the Aquila takeover still to be navigated. No surprise that stock dips below 70p in face of modest selling most days since results at start of month. |
Posted at 26/3/2024 21:29 by pj84 Just to add to the comment in the Citywire article in post 244 pointing out "ORIT's 'exceptional earnings visibility" in the presentation it was mentioned that even if power prices slumped that wouldn't directly lead to a cut in the dividend as ORIT has entered into long fixed price contracts with end users one example being a 15 year contract to supply electricity to Microsoft at a fixed price for 15 years. |
Posted at 26/3/2024 19:33 by pj84 Just listened to the presentation and didn't hear anything that raised any concerns for ORIT specifically.For those who aren't traders, buying now at these lows of more than a 30% discount to NAV whilst locking in a prospective dividend yield of over 8% (which is targeted to increase in line with inflation) with the possibility of falling interest rates improving sentiment in the sector and possibly reducing the discount, this could be a good time to buy if you are patient. |
Posted at 26/3/2024 00:38 by gopher Worth catching up with yesterdays presentation and QA on Investors meet to see ORIT response to some of the question raised here.For those of you who don't want to devote 45 minutes, ORIT came across as competent but sector is going through a difficult period and I think less savvy operators may get into trouble. |
Posted at 25/3/2024 15:20 by spectoacc BISA a non-starter, but Labour's plans will certainly be interesting.Noted this on wind this morning: I rated ORIT management, but the whole AERI/AERS palava put me right off - should stick to their knitting. They may yet attempt a high bid but if it's for paper, good luck. Agree insts are selling down the sector, but suspect as much due to us entering a 3rd year of retail withdrawal from the market. Had never previously been two consecutive calendar years before, even in the GFC. Is creating bargains but bargains that are getting still cheaper. Chart on ORIT does not look pretty. |
Posted at 25/3/2024 15:17 by gopher I would say ORIT sits in the middle of the sector risk premium. The infrastructure sector is under the cosh as a whole with renewables in particular focus as power prices and wind speeds fall. Maybe it’s safer with the sector heavyweights but ORIT is a worth considering with some flexibility in its mandate both geographically and technologically.One of the challenges for the Labour government is turbocharge green investment, the sector does offer reasonably secure cash flows and should be attractive to the pensions industry who appear to have sold down the UK very heavily in recent decades. British ISA is a sign that politicians are waking up to problem. |
Posted at 18/1/2024 20:42 by speedsgh Octopus keeps up with inflation lift to dividendOctopus Renewables Infrastructure (ORIT) is starting to establish a reputation for reliability as it has increased its dividend target by inflation for the third year.The board said it would pay 6.02p per share this year, an increase of 4% on last year's dividend of 5.79p per share.This rise, which is in line with the consumer prices index for the 12 months to 31 December, will still leave the payout fully covered by cashflow.Chair Phil Austin said the dividend hike was thanks to investment managers Matt Setchell, Chris Gaydon and David Bird and their 'successful delivery of construction projects'. ORIT has an operational capacity of 536MW via 29 assets across five countries, which can generate enough electricity to power 242,000 homes.However, Stifel analyst Will Crighton highlighted that dividend cover was 'squeezed' over the first half of last year to 1.1 times due to generation being 13% below budget, which will 'have acted as a drag on full-year numbers', which are yet to be released.'We expect cover to improve during 2024 with the 67MW Breach solar farm in Cambridgeshire soon to become operational,' he said. 'And the fund is also expecting to imminently acquire a sizeable 241MW portfolio of five solar assets in Ireland once construction has completed.'The analyst added that these acquisitions, along with improved generation performance, should 'more than offset any increased financing costs' and 'any impact on revenue from further asset sales'.Liberum analyst Alex O'Hanlon said the dividend hike will 'reinforce the credibility of the company as a progressive and reliable dividend payer' and could narrow the share price discount.ORIT trades on a discount of 17.7%, while peers such as JLEN Environment Assets (JLEN) and Downing Renewables Infrastructure (DORE) trail 20% and 25% below their asset values, respectively, despite both paying higher dividends. Before the announcement, ORIT yielded 6.4%, JLEN yielded 9.4% and Downing's yield was 7.7%. 'The dividend increase lifts the dividend yield to 6.8% and more in line with peers,' said O'Hanlon. 'Given this dividend is fully covered, investors should welcome this news and gain more trust in the company as a strong income play.'The dividend hike could also help sway investors of Aquila European Renewable (AERI), which ORIT has targeted for acquisition despite the board of the former being less than receptive. AERI has a dividend yield of 6.7%.Shares in ORIT were up just over 2% on Thursday to 90p. |
Posted at 18/1/2024 08:44 by speedsgh Increased Dividend Guidance - In line with the Company's progressive dividend policy, the Board of Octopus Renewables Infrastructure Trust plc is pleased to announce an increase in the target dividend to 6.02p* per ordinary share for the financial year from 1 January 2024 to 31 December 2024 ("FY 2024"). This increase of 4.0% over FY 2023's dividend target is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2023, and marks the third consecutive year the Company has increased its dividend target in line with inflation. The FY 2024 dividend target is expected to be fully covered by cashflows generated from the Company's operating portfolios. The Company is on track to deliver its dividend target for FY 2023 of 5.79p per ordinary share* and expects the dividend to be fully covered by cashflows arising from its operating assets. The fourth interim dividend for FY 2023 is expected to be declared in late January 2024. Phil Austin, Chairman of Octopus Renewables Infrastructure Trust plc, commented: "We're pleased to once again announce a dividend target increase in line with CPI, marking our third consecutive increase in line with inflation. This can be attributed to the Investment Manager's progress in the successful delivery of construction projects, with operational capacity now at 536MW, generated by 29 assets across 5 countries, equivalent to providing enough electricity to power 242 thousand homes. For 2024, 82% of ORIT's forecast revenues are fixed and 53% are explicitly inflation linked, and this is expected to contribute to stable cash generation over the year." |
Posted at 12/1/2024 15:59 by speedsgh Liberum tips Chrysalis and Octopus Renewables for turnaround - HTPS://citywire.com/Chrysalis and Octopus Renewables are added to stock broker Liberum’s top stock picks for the coming year, the only investment companies on the 13-strong list... ... Octopus Renewables Infrastructure, a £605m portfolio of solar and wind assets in Europe and the UK, also made it onto Liberum’s list of 13 stocks. Analyst Alex O’Hanlon said ORIT was at an ‘exciting juncture’ thanks to a capital recycling programme and a proposed merger with peer Aquila European Renewables (AERI). On the last working day before Christmas, ORIT issued a stock exchange announcement stating that after several approaches to the AERI board about a potential merger had met with no response, it had taken the deal to some shareholders and received their support. O’Hanlon said a ‘key drawback’ for the trust has been its scale and this would be addressed by the merger as its NAV would hit £1bn. ORIT also believes the deal will aid its capital recycling programme, a plan to sell assets to repay short-term debt facilities. In October last year, the trust made headway as it sold two Polish wind farms at a 14% premium to their latest valuation. The analyst said ORIT ‘provides strong inflation linkage, minimal currency risk and a dividend that is well covered’ but is differentiated from peers Renewables Infrastructure Group (TRIG) and Greencoat UK Wind (UKW) through ‘higher construction exposure (targets circa 30%) creating NAV uplift through yield compression once operational’. Shares in ORIT, which have suffered a more than 10% fall in the past 12 months, are trading at a 17% discount to NAV. The trust traded at 89p on Friday. Liberum has a target price of 115p. |
Posted at 19/11/2023 06:43 by masurenguy MIDAS SHARE TIPS: Backing windfarms from start to finish sparks a 7% returnOctopus Renewables Infrastructure Trust (Orit) adopts a more practical stance. Focused on wind and solar farms, the group produces enough electricity to supply about 500,000 homes, with more coming on track down the line. But managers Chris Gaydon and David Bird are not just keen to be green, they are also determined to deliver rewards for shareholders. With the shares at 90.5p and a dividend yield of more than 7%, the stock is worth a closer look for investors of all persuasions. Although most assets are in wind and solar power, Orit invests in other renewable options, including battery storage and green hydrogen. This diversification is designed to provide shareholders with an extra sparkle – the ability to deliver both long-term growth and attractive income. To date, the firm has done well on the income front. Dividends are paid quarterly and have almost doubled since Orit floated in 2019, increasing consistently in line with inflation, even when that was running at more than 10 per cent. Share price growth has been more elusive. Having listed at £1, the stock rose to £1.18 in the spring of 2022 but has drifted lower since, hit by rising interest rates and general apathy towards renewable energy stocks. The current price represents an opportunity. No position but onto my watchlist. |
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