Secured Income Dividends - SSIF

Secured Income Dividends - SSIF

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Secured Income Fund Plc SSIF London Ordinary Share GB00BYMK5S87 ORD 1P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 66.00 00:00:00
Close Price Low Price High Price Open Price Previous Close
66.00
more quote information »
Industry Sector
GENERAL FINANCIAL

Secured Income SSIF Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
30/07/2020InterimGBX0.6230/06/201930/06/202006/08/202007/08/202028/08/20207
25/06/2020InterimGBX0.5830/06/201930/06/202002/07/202003/07/202024/07/20200
28/05/2020InterimGBX0.5830/06/201930/06/202004/06/202005/06/202026/06/20200
30/04/2020InterimGBX0.5830/06/201930/06/202007/05/202011/05/202029/05/20200
25/03/2020InterimGBX0.5830/06/201930/06/202002/04/202003/04/202024/04/20200
27/02/2020InterimGBX0.5830/06/201930/06/202005/03/202006/03/202027/03/20200
30/01/2020InterimGBX0.5830/06/201930/06/202006/02/202007/02/202028/02/20200
18/12/2019InterimGBX0.5830/06/201930/06/202002/01/202003/01/202024/01/20200
27/11/2019InterimGBX0.5830/06/201930/06/202005/12/201906/12/201927/12/20190
31/10/2019InterimGBX0.5830/06/201930/06/202007/11/201908/11/201929/11/20190
25/09/2019InterimGBX0.5830/06/201930/06/202003/10/201904/10/201925/10/20190
29/08/2019InterimGBX0.5830/06/201930/06/202005/09/201906/09/201927/09/20190
25/07/2019InterimGBX0.6230/06/201830/06/201901/08/201902/08/201923/08/20197
25/06/2019InterimGBX0.5830/06/201830/06/201904/07/201905/07/201926/07/20190
29/05/2019InterimGBX0.5830/06/201830/06/201906/06/201907/06/201928/06/20190
24/04/2019InterimGBX0.5830/06/201830/06/201902/05/201903/05/201924/05/20190
27/03/2019InterimGBX0.5830/06/201830/06/201904/04/201905/04/201926/04/20190
28/02/2019InterimGBX0.5830/06/201830/06/201907/03/201908/03/201929/03/20190
30/01/2019InterimGBX0.5830/06/201830/06/201907/02/201908/02/201922/02/20190
21/12/2018InterimGBX0.5830/06/201830/06/201903/01/201904/01/201925/01/20190
29/11/2018InterimGBX0.5830/06/201830/06/201906/12/201807/12/201828/12/20180
25/10/2018InterimGBX0.5830/06/201830/06/201901/11/201802/11/201823/11/20180
25/09/2018InterimGBX0.5830/06/201830/06/201904/10/201805/10/201826/10/20180
30/08/2018InterimGBX0.58330/06/201830/06/201906/09/201807/09/201828/09/20180
25/07/2018InterimGBX0.5230/06/201730/06/201802/08/201803/08/201831/08/20186.3
22/06/2018InterimGBX0.5330/06/201730/06/201805/07/201806/07/201827/07/20180
29/05/2018InterimGBX0.5230/06/201730/06/201807/06/201808/06/201829/06/20180
25/04/2018InterimGBX0.5330/06/201730/06/201803/05/201804/05/201825/05/20180
16/03/2018InterimGBX0.5230/06/201730/06/201805/04/201806/04/201827/04/20180
20/02/2018InterimGBX0.5330/06/201730/06/201801/03/201802/03/201823/03/20180
19/01/2018InterimGBX0.5230/06/201730/06/201801/02/201802/02/201823/02/20180
21/12/2017InterimGBX0.5330/06/201730/06/201804/01/201805/01/201826/01/20180
23/11/2017InterimGBX0.5230/06/201730/06/201807/12/201708/12/201729/12/20170
23/10/2017InterimGBX0.5230/06/201730/06/201802/11/201703/11/201724/11/20170
22/09/2017InterimGBX0.5330/06/201730/06/201805/10/201706/10/201727/10/20170
21/08/2017InterimGBX0.5230/06/201730/06/201807/09/201708/09/201729/09/20170
24/07/2017InterimGBX0.5330/06/201630/06/201703/08/201704/08/201725/08/20177.07
23/06/2017InterimGBX0.5330/06/201630/06/201706/07/201707/07/201728/07/20170
19/05/2017InterimGBX0.52530/06/201630/06/201701/06/201702/06/201723/06/20170
25/04/2017InterimGBX0.6830/06/201630/06/201704/05/201705/05/201726/05/20170
24/03/2017InterimGBX0.630/06/201630/06/201706/04/201707/04/201728/04/20170
15/02/2017InterimGBX0.630/06/201630/06/201702/03/201703/03/201724/03/20170
12/01/2017InterimGBX0.630/06/201630/06/201702/02/201703/02/201724/02/20170
12/12/2016InterimGBX0.630/06/201630/06/201705/01/201706/01/201727/01/20170
21/11/2016InterimGBX0.630/06/201630/06/201701/12/201602/12/201623/12/20160
25/10/2016InterimGBX0.630/06/201630/06/201703/11/201604/11/201628/11/20160
22/09/2016InterimGBX0.630/06/201630/06/201706/10/201607/10/201628/10/20160
23/08/2016InterimGBX0.630/06/201630/06/201701/09/201602/09/201623/09/20160
14/07/2016InterimGBX0.630/06/201530/06/201604/08/201605/08/201626/08/20164.8
28/06/2016InterimGBX0.630/06/201530/06/201607/07/201608/07/201629/07/20160
25/05/2016InterimGBX0.5530/06/201530/06/201602/06/201603/06/201624/06/20160
22/04/2016InterimGBX0.5501/12/201531/03/201605/05/201606/05/201627/05/20160
15/03/2016InterimGBX0.5501/12/201531/03/201631/03/201601/04/201626/04/20160
16/02/2016InterimGBX0.5501/12/201531/03/201603/03/201604/03/201630/03/20160
25/01/2016InterimGBX0.401/07/201531/12/201504/02/201605/02/201626/02/20160
24/12/2015InterimGBX0.401/07/201531/12/201507/01/201608/01/201629/01/20160
25/11/2015InterimGBX0.601/07/201531/12/201503/12/201504/12/201530/12/20150

Top Dividend Posts

DateSubject
20/8/2020
10:08
makinbuks: Yes, the incentive fees are interesting too. Look pretty balanced to me. Interesting that they get 10% of anything in excess of NAV. That gives incentive to keep pursuing loans that have had a provision applied to them, ie a lot of the platform stuff. A key theme seems to be simplicity and avoidance of cost. I'm delighted with that and the simplicity of repayment via dividend. Your 3rd point is correct but doesn't affect me personally
15/7/2020
12:32
spectoacc: Agreed - something close to NAV (c.87p), and the divi along the way, with hopefully some decent capital returns sooner rather than later. Good point about platform loans, and of course Covid. Pretty sure the SQN RNS the other day will have opened the SSIF Board's eyes to Dawn Kendall & co. They had enough of that from the GLIF days. Could perhaps have given an option to roll into SQNX rather than SQN, but SSIF does have one of the shorter durations & aren't alone in winding up. The whole sector's been a palava, with just one or two notable exceptions (eg read GABI RNS today), & others gone into wind-down (eg HWSL). "Secured" is a misnomer.
26/5/2020
08:54
makinbuks: Sounds like get the wind up startted with a deal in a few months/ a year once the position with COVID is clearer to shorten the process. Whats the difference between that and the ongoing payment of an uncovered dividend? Obviously the main concern is that we get as close to NAV as possible. Personally I have no problem waiting
02/5/2020
07:12
spectoacc: Hold SQNX & SSIF (in size) but no SQN, & wouldn't much fancy a merger with that long duration, dodgy AD co too. Thinking they might realise as much cash as they can across all 3, then announce an option of getting money back (at a discount) or continuing with a larger, fully merged entity. Certainly won't be imminent but perhaps a year down the line if/when Covid over, AD issues resolved etc. With the cash exit not too generous in the knowledge the SSIF s/holders wants out.
30/4/2020
14:32
spectoacc: Thanks @Makinbuks. Wonder if there'll now be an attempt to merge with say SQNX? Otherwise, IMO SSIF just too small to survive. They're never going to grow it.
30/4/2020
10:41
spectoacc: "It is the SSIF Board's expectation that at the same time as the appointment of KKV to manage AFIF is formalised, which is expected to occur on or around 1 June, 2020, the management of SSIF will transfer to KKV on the same contractual terms as are currently in place. This transfer is expected to take place with the agreement of both the SSIF Board and SQN CM which will continue to provide support and consulting services to KKV for a period of at least an additional twelve months at no additional cost to SSIF. The SSIF Board remains aware, however, that the appointment of KKV to manage AFIF remains subject to the finalisation of various agreements between AFIF, KKV and SQN CM. Shareholders should note that this expected change in management arrangements will not affect the previously announced Continuation Vote that is due to be held on 19th June 2020 and that Dawn Kendall and her team will be extensively involved in that process. "
31/3/2020
13:48
spectoacc: Saw it come out this morning, meaning to go back to it, completely forgot. It's excellent, IMO. Recognises the Covid-19 issue, recognises it may drag on (unlike so many, who think it'll be over inside a quarter). Saying an extra 12 months or so for wind-up, and delaying the EGM, perfectly sensible. And: " During these turbulent times our priority is to focus on preserving cash and maintenance of dividend cover for our Shareholders. Equally, we are pleased that the Manager is conducting sensible and cooperative conversation with our borrowers to set their minds at rest with a priority given to protecting their financial health and that of their people. This emergency period will pass and it is incumbent on all stakeholders to behave in a responsible and fair manner. We do expect the maturity profile of the loans to be extended but are encouraged that updates from underlying businesses have been broadly encouraging at this early stage. " So likelihood is loan extensions until Covid-19 passes. Often get nervous holding SSIF, but it's the pick of the bunch IMO. Compare it to SQN's latest massive NAV write-down of the AD plants today.
24/1/2020
08:14
spectoacc: Has taken them a few days, but the communication at SSIF is much improved: "We would like to share with you a recently published research note from Kepler on the SQN Secured Income Fund. http://www.rns-pdf.londonstockexchange.com/rns/7915A_1-2020-1-23.pdf In light of Monday's announcement from SSIF's sister fund, the Asset Finance Income Fund, we would like to take this opportunity to highlight the following points: -- The SQN Secured Income Fund is managed by Dawn Kendall who joined to set up a separate subsidiary for SQN in April 2017 in order to take over stewardship of the trust. Dawn has over 30 years experience of fixed income investing, previously holding senior positions at Twenty Four, Investec, Architas, Newton and SG Warburg. -- The Fund is very well diversified across sectors with the diversity of borrowers reducing thematic or sector risk. The Fund does not hold any exposure to Anaerobic Digestion projects and therefore will be unaffected by the write downs associated with these assets in the sister fund SQN Asset Finance Income Fund managed by Neil Roberts. -- As you will read in the attached independent note from Kepler, since taking over the Fund Dawn has built a portfolio of senior secured direct loans and reduced the Fund's (inherited) exposure to peer to peer platforms. Dividend cover has been achieved with the new asset mix, the underlying portfolio now generates a yield of 10% which is in excess of the target return of net 8% total return per annum. -- As highlighted in the note, the Fund AUM at the end of December was GBP50m which is below GBP250m targeted when management was assumed. As a result, investors will be given the opportunity to decide on the Fund's future by way of a continuation vote and as mentioned in a press release in December 2019, SQN and the Board are in discussions regarding the timing for this and we will be in touch on that point shortly. We hope that the work carried out by Dawn and the team provides comfort that the mandate is in good shape and will continue to provide the returns that make it an attractive proposition to investors seeking a regular income. We thank you for your continued trust and support. If you would appreciate a follow up call to discuss the Secured Income Fund in further detail we would be very happy to organise. "
03/1/2020
12:48
spectoacc: All fair points. My worry is that SSIF is still trading too highly, compared to eg SQN/SQNX, that ought to be very similar. Where once they traded at a big premium/SSIF at a discount, now we have SQN/X at a big discount and SSIF at a relatively smaller one. Yes, minor in the scheme of things, the divi is what matters. But as you say, there's a large holder wanting out of SSIF, with absolutely no liquidity in the shares and no prospect of bulking up. Do we just roll on until the next recession/depression?
16/4/2019
13:13
makinbuks: Just been reminding myself of the following from the announcement made on Dec 11th "In further support of SSIF's relaunch and growth plan, Somerston (owner of c.28% of SSIF) has agreed to make up to 11,780,000 of its shares (the "Option Shares") available to new investors at a price of 95p per share, a 2.2% discount to the last published NAV in October. The Option Shares represent approximately 80% of Somerston's entire shareholding in SSIF. The Investment Manager and the SSIF Board see this as an important step in further broadening SSIF's investor base and it is expected that any increased free float of SSIF's shares will boost liquidity in the market. To the extent that Somerston retains any Option Shares at 31 March 2019, the Investment Manager has agreed to buy any such residual shares at 95p per share with a view to making such shares available to new investors as SSIF's growth strategy takes its course. The number of Option Shares has been agreed such that the Investment Manager can at most hold shares representing 29.9% of SSIF's voting rights and as such no obligation under Rule 9 of the Code will be triggered" So quite apart from the question of raising new funds I find it surprising there has been no RNS post 31st March concerning the shareholdings of Somerston, the Investment Manager and others. I can't imagine anyone will have paid 95p when 92p was available in the market but if the transaction didn't go ahead surely a RNS would be necessary for that too
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