Is the yield sustainable? |
8.4% yield now.
Kepler Trust research yesterday. |
Indeed, horrific announcements this week on PSBR and Inflation in the UK on top of the likely inflationary effects of Trumps protectionist agenda means rates higher for longer |
It's a closed ended fund - they don't suffer redemptions. More likely due to the recent rise in long term rates, gilt yields at multi year highs. |
Must admit, I never thought these would be at this level again. I can only think fund redemptions are hammering these reits and investment trusts.. |
If I were Management, I'd be far more aggresive in the buy back, 50 million shares a year is just under 2% of shares in issue. At least it funds a 2% increase in dividend at no extra cost to Trig as the shares held on Treasury don't attach a dividend. But if Management are confident in a NAV north of 120p then cancelling shares is massively more acretive than acquisitions or debt reduction. Clearly the Market doesn't believe it's worth 120p. |
Uptick in share price this morning.Let's hope that's the bottom and it is upwards from here. |
Well, they're certainly getting value at this price for the buy back! |
Who knows? Lower than expected power prices, not much wind, higher interest rates and the fact that the whole sector is out of favour at the moment. |
Is there a particular reason this is at a 5 year low? |
They can't go down forever. |
Director buy |
It's only on ex dividend day you get an accurate yield. On a quarterly compounding basis this is 7.7p a share and whoever got in at 91p got a chunky 8.5 % yield. Moreover, the dividend may increase in Q1. The 50 million buyback held on Treasury would actually fund a 2% rise in dividend at no extra cost to Trig. |
Normally bounces off 95p like Zebedee. In June we had one sub 95p close and a pound recovered in short order. We have had four days straight since Thursday of sub 95p and a lowest ever close yesterday ( and running into ex div to boot). Owning Trig has never been this trying. |
Yeah really unloved and that initial boost in the summer seems so long ago now.
Same across the whole sector though, along with the UK markets in general since the budget, so sit tight and pick up the divi while waiting for the turn which hopefully comes in 2025.
Good luck all 👍🏻 |
Surprised that this hasn't firmed into Thursday's ex dividend. If it is going to, it's an eleventh hour job. No firming and we will be trading 91/92p come Thursday...uncharted territory for Trig. |
Originally bought these along with BSIF, FSFL and NESF.
To date, anything I’ve made from dividends has been wiped out by share price depreciation. Currently around break even on three and just below water on NESF.
Rapid rise in interest rates didn’t do renewables any favours, but am hoping with interest rates reducing we may start to see some more investor interest and share price appreciation.
Majority of renewables trade well below NAV, so will stay with my current holdings and see what the future holds. |
For the not very much that it's worth, I held my nose to the share price "noise"(mixed mataphor, no doubt) and took a few at 94p. If they maintain the ability to continue to pay the dividend at current levels I'll be very happy with that. I'm prepared for further share price deterioration, especially with it being XD this Thursday, though hopefully not for TOO long. Good fortune to one and all |
Considering the direction of interest rate travel, all be it the reduction may be slower after the budget and US election, but helped by drift lower in oil cost, the main impact on inflation, the yield does seem very good. But that is also the case with many other stocks at the moment, so a good yield, but has not appreciated as I anticipated after recent purchases. Ignore the share price seems good advice above. |
It's all driven by the rise in gilt yields - nothing company specific. If you're of the view that rates will come down, this should do well. If not, then just ignore the share price and enjoy the 8% yield. |
The share price seems as weak as dishwater AND there's an ex dividend date coming up soon.
Anyone prepared to make the bull case(or, indeed, reinforce the bear case)? |
Not sure how long the scrip cancellation has been running. But Management clearly not too keen on giving shares away at this price as an alternative to cash ( and forces those who are adding into the secondary Market). Obviously one hell of a divergence between the Market and Management opinion just now. I think the Market is focused on the fall in NAV these past 15 months..basically it's fallen at the same rate as dividends paid out ( ie. nav adjusted earnings have been zero). How much longer they can keep adjusting nav down for interest rates, power prices and outages is a worry I suppose. Incidentally another 1.8p nav down on 1st November, keeping adjusted earnings at zero. |
 RNS Number : 3646L
Renewables Infrastructure Grp (The)
07 November 2024
7 November 2024
The Renewables Infrastructure Group Limited
Interim Dividend
The Renewables Infrastructure Group Limited (the "Company") is pleased to announce the third quarterly interim dividend in respect of the three month period to 30 September 2024 of 1.8675 pence per ordinary share (the "Q3 Dividend"). The shares will go ex-dividend on 14 November 2024 and the Q3 Dividend will be paid on 31 December 2024 to shareholders on the register as at the close of business on 15 November 2024.
In accordance with the terms and conditions of the Scrip Dividend Alternative and the Directors' power to cancel the Scrip Dividend Alternative where a change in market conditions might, in the reasonable opinion of the Directors, render the Scrip Dividend Alternative materially detrimental to those Shareholders electing for it, the Board has decided to cancel the Scrip Dividend Alternative in respect of the Q3 Dividend due to the Company's Ordinary Shares currently trading at a larger than 10% discount to the published Net Asset Value ("NAV"). Accordingly, Shareholders will receive the Q3 Dividend in cash and, should they so wish, can choose to apply the cash dividend in acquiring Ordinary Shares in the secondary market. |
Looks like we could be on for an all time closing low. And wouldn't be surprised if we had hit an all time intraday low this afternoon. OK, interest rate expectations somewhat higher since the Budget, but they are falling nevertheless. And heck take nearly a couple of pence off for the ex div and the yield is now about 8.5% |
Brought back in today having held before.
Decent discount to NAV and decent dividend yield assuming maintained :)
Hopefully BOE give another rate cut soon - might help.
Now hope we get a breezy winter! Not the storms though! |
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