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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tufton Assets Limited | SHIP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.195 | 08:00:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.195 | 1.195 | 1.2025 | 1.195 | 1.195 |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 16/04/2024 | Interim | USD | 0.025 | 24/10/2024 | 25/10/2024 | 08/11/2024 |
| 16/04/2024 | Interim | USD | 0.025 | 25/07/2024 | 26/07/2024 | 09/08/2024 |
| 18/10/2023 | Interim | USD | 0.02125 | 25/01/2024 | 26/01/2024 | 09/02/2024 |
| 17/01/2023 | Interim | USD | 0.02125 | 26/10/2023 | 27/10/2023 | 10/11/2023 |
| 17/01/2023 | Interim | GBP | 0.01662 | 27/07/2023 | 28/07/2023 | 11/08/2023 |
| 17/01/2023 | Interim | USD | 0.02125 | 27/04/2023 | 28/04/2023 | 11/05/2023 |
| 18/10/2022 | Interim | GBP | 0.01723 | 26/01/2023 | 27/01/2023 | 10/02/2023 |
| 19/07/2022 | Interim | GBP | 0.01738 | 27/10/2022 | 28/10/2022 | 11/11/2022 |
| 19/07/2022 | Interim | USD | 0.02 | 28/07/2022 | 29/07/2022 | 12/08/2022 |
| 27/04/2022 | Interim | USD | 0.02 | 05/05/2022 | 06/05/2022 | 20/05/2022 |
| 18/01/2022 | Interim | USD | 0.02 | 27/01/2022 | 28/01/2022 | 11/02/2022 |
| 21/10/2021 | Interim | USD | 0.02 | 28/10/2021 | 29/10/2021 | 12/11/2021 |
| 22/07/2021 | Interim | USD | 0.01875 | 29/07/2021 | 30/07/2021 | 13/08/2021 |
| 22/04/2021 | Interim | USD | 0.01875 | 29/04/2021 | 30/04/2021 | 14/05/2021 |
| 21/01/2021 | Interim | USD | 0.01875 | 28/01/2021 | 29/01/2021 | 12/02/2021 |
| 26/10/2020 | Interim | USD | 0.0175 | 05/11/2020 | 06/11/2020 | 20/11/2020 |
| 30/07/2020 | Interim | USD | 0.0175 | 06/08/2020 | 07/08/2020 | 21/08/2020 |
| Interim | USD | 0.0175 | 07/05/2020 | 11/05/2020 | 26/05/2020 | |
| Interim | USD | 0.0175 | 06/02/2020 | 07/02/2020 | 21/02/2020 |
| Top Posts |
|---|
Posted at 20/12/2024 22:45 by 2wild Trump looking to increase exports of liquefied natural gas to Europe. Ship well place to benefit |
Posted at 07/11/2024 09:29 by craigso Thanks for the insight.I totally agree that in the absense of Trump noise, this fund would be a keeper. Good, well-covered dividend with the occasional capital return on top... But unfortunately the NAV, and the reduced discount resulting from SHIP's capital return policy, is reliant on the secondhand market for ships remaining reasonably strong. If sentiment regarding global trade / shipping goes sour, I can't see that market remaining decent. So we'd see both a reduction in NAV and a likely increase in the discount for the traded funds from the negative sentiment. Definitely one to keep an eye on and I can understand some people planning to hold. But I think it's more likely the share price goes back down to $1 than goes up to $1.50, so the yield isn't high enough to compensate... |
Posted at 06/11/2024 14:13 by skinnypope I’ve been pondering the holding I have here for a while. Here are my conclusions.1. This fund is criminally underfollowed. NAV per share grown from $1.00 to $1.616 in 5 years, (including the terrible C-19 era) with a very progressive dividend and buyback policy. Cherry on top is the capital return policy. 2. Headline NAV discount at 21% improved from low of 27% at FY23 [but still well shy of the 1 – 2% until 2021]. However, I think it’s interesting to strip out the cash and “residual assets” balances in the SPVs to get the underlying vessel NAV discount, which is now at 26%, versus the low of 29%. In other words, the discount hasn’t yet narrowed as much as the headline suggests. 3. Within the NAV is $36m of negative charter value, $27m of which unwinds over 12 months. Ceteris paribus, the NAV will automatically be $0.06 higher next year. 4. The dividend is well covered at x1.6 for next 18 months, driven by the 11.5% yield. This Q3 average yield dropped, but this was due to the renewed charters on Golding and Orson at “only” 20% yield (versus ~24% previous), but which also lengthened the average charter to 1.6 years (from 1.3). In other words, SHIP have sacrificed some yield to lengthen the portfolio and secure the dividend. 5. A lot of bulker charters ended in Q3/Q4 this year, about which SHIP have been reasonably quiet. The ClarkSea index has been dropping (from spectacular highs though, it must be said), suggesting the highest charter rates might be behind us. This suggests the average yield could drop further if/when these are renewed at lower rates – however the average yield needs to drop below 8% for the dividend to be uncovered, which can’t happen given the existing book of charters until at least 2 years in the future. 6. The Clarkson NewBuild index remains incredibly high, almost at the highs of 2008. The charter-free element of the NAV therefore remains very well supported. So what does all this mean? I see two paths from here: 1) The near term maturing charters are rolled over at attractive rates, lengthening the book. This may sacrifice some yield, but the dividend is well covered for years in the futures. MY TAKE: A good outcome for income seekers, however market sentiment may turn as the Trump tariff fears take hold and future charter rates fall. NAV may be stable / decrease slightly, but sentiment could drive discounts wider. Overall, this makes the stock a HOLD if you have it and like income, but not a strong buy for a new investor. 2) If the new charter rates are not attractive enough, then use the strength of the vessel demand market to sell some more assets. Cash proceeds used for more capital returns at NAV. Possibly even put the fund into wind down, with the longest charters only 2-3years. MY TAKE: Not so good for income seekers as assets are sold and income drops, but a big tailwind for the share price as the discount disappears. I feel this may be the more likely outcome, so I am holding here and may buy more on weakness. |
Posted at 06/11/2024 10:23 by craigso Disappointed to have to sell out of SHIP this morning. But it looks to me like there's more downside than upside for the next few months / years... |
Posted at 08/2/2024 14:14 by rimau1 Tipped in the IC Alpha today although i don't have access, this was off my radar so i have bought some, the economics for shareholder returns seem compelling! 9% dividend, a possible capital return (based on the recently announced ship disposals i guess) and a 25% discount to BV in a structural growth market. |
Posted at 17/1/2024 11:20 by valhamos Yes - an excellent update, the company has performed and managed risks well over the years. Very pleased with the increase in dividend and the strong investment outlook with realisation then starting in 2028. |
Posted at 17/1/2024 08:55 by lord gnome Humdinger of an update this morning. Dividends increased to 10cents per share, nav up to $1.45 and a very possible substantial special dividend to return some capital. Just had to buy some more. RNS reads as though they are already planning to wind up the trust in 2027, in which case we could see substantial capital returns in due course. Lovely. |
Posted at 20/1/2023 11:00 by lord gnome Back in with a few today. Looking to diversify sources of income in an uncertain market and this looks as good as any. Appears to have good asset cover and a slowly increasing dividend. Will look to add but don't want to go in too deep. |
Posted at 28/7/2021 13:03 by valhamos The improved NAV predicted a year ago in my post 19 above has certainly come to pass. Good to see Tufton capitalising on strong container ship values with a couple of disposals this month with realised IRR of 31% and 47% with proceeds being recycled into vessels with excellent yields. With the planned dividend increase in Q3 yield will be a still very attractive 6.6% |
Posted at 22/4/2021 06:11 by jonwig Tufton Oceanic Assets announces that as at 31 March 2021, the unaudited net asset value ("NAV") was $284.44 million and the unaudited NAV per ordinary share was $1.053. The NAV total return for the quarter was 9.1%.The Company is pleased to announce a dividend of $0.01875 per ordinary share for the quarter ending 31 March 2021. The dividend will be paid on 14 May 2021 to holders of ordinary shares recorded on the register as at close of business on 30 April 2021 with an ex-dividend date of 29 April 2021. The Company continues to target a total annual dividend of $0.075 per share and is forecast to have a dividend cover of c.1.7x over the next 18 months and an average expected charter length of c.2.5 years (EBITDA weighted). The Company's quarterly factsheet as at 31 March 2021 will shortly be available on the Company's website in the Investor Relations section under Company Documents at www.tuftonoceanicass |
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