Tufton Assets Share Discussion Threads

[valhamos] 05/1/2024 19:02

The company is registered in Guernsey so no US withholding tax, dividends are paid gross.

[hindsight] 05/1/2024 18:41

I presume $ dividends are paid gross, no US withholding tax ?

[valhamos] 05/7/2023 10:22

We haven't quite dropped to the levels of 2020 when I last bought some of these but have decided it's time to add more, especially as the investment managers and various staff and directors bought more recently along with the sizeable 4.1m share buyback announced today. 8.5% yield looks attractive if you expect inflation to fall back later this year.

[lord gnome] 22/6/2023 19:11

Looks like a forced seller being cleared today at any price the market will bid. 95 cents? WTF!

[lord gnome] 12/5/2023 11:31

The GBP is strong and the share price is weak - so I've added a few more. Paid slightly less than 1.11 at USD1.23 to the GBP. That's a touch under 90p in real money.

[2wild] 13/4/2023 07:06

I brought some Friday at 1.145 USD a good place to park some cash if you want to get exposure to US dollar with a high quarterly safe yield

[lord gnome] 13/4/2023 06:24

Share buyback programme continuing at a steady pace - too steady, perhaps. They are buying back at an even rate of 100,000 shares per day. My best guess is that they are helping out a shareholder who needs to sell a large quantity but without dumping them on the market in one go and trashing the share price. The shares will not make any progress whatsoever until the seller is cleared. What we are seeing is the agreed price. Could be a good time to add / buy.

[lord gnome] 20/1/2023 11:00

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.

[loss-leader] 22/2/2022 08:43

Might be time to buy a LNG tanker? LL

[valhamos] 28/7/2021 13:03

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%

[jonwig] 22/4/2021 06:11

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.tuftonoceanicassets.com/quarterly-reports .

[apollocreed1] 13/4/2021 13:50

@marktime1231-Bear in mind that AJB will take 1.5% off of your dividends as a currency conversion fee as they don't let you hold the dividends in USD.

[marktime1231] 12/4/2021 20:35

Thank you very helpful. I would hope that a sheltered stake in a SIPP would be registered by AJB as tax exempt to receive dividends gross. Tempted to dip in with a small stake and see how it goes, the yield is about twice as much as I am getting from my commodity income trust.

[jonwig] 12/4/2021 19:31

marktime -

If there's a "commodity supercycle" starting, demand will stay strong for some years; otherwise it's going to be pretty cyclical.

Tax - "The Company has been granted exemption from liability to income tax in Guernsey under the Income Tax (Exempt Bodies) (Guernsey) Ordinance, 1989 amended by the Director of Income Tax in Guernsey for the current period. Exemption is applied and granted annually and subject to the payment of a fee, currently £1,200."

Divis and earnings are presented in USD because their income is received in USD. Your divis are taxed as overseas income if you're UK-based. My broker (II) pays divis in USD and I keep a USD account with them.

[marktime1231] 12/4/2021 19:18

Watching SHIP for a while attracted by the positive well-funded narrative and the high yield. Is this an enduring good business or a temporary bubble of demand for certain classes of shipping? I wonder what the downside looks like, too risky to be in my pension portfolio? This is a UK based (and taxed?) company but registered in Guernsey or IoM, priced in dollars ... so er is the dividend recalculated in pence and paid gross of any witholding taxes?

[bisiboy] 22/3/2021 18:00

have a few of these and added this morning. see them as steady.

[jonwig] 22/3/2021 08:23

Interims;



Robust performanc, and strong outlook:

At the end of the financial period, the Company had increased charter cover to c. 2.8 years and strong forecast dividend cover of c.1.5x over the next 12-18 months. I am encouraged by the Company's performance over the financial period and believe the strategy of diversification, strong charter cover and low leverage will enable the Company to grow profitably in the coming years.

[gilston] 02/3/2021 17:14

Interims due 22nd March.

[jonwig] 07/8/2020 11:19

The three trades today (0.84188) are all buys despite ADVFN's rickety algorithm.

[apollocreed1] 06/8/2020 15:21

@Valhamos - I think you're right. I just need to get hold of some dollars to buy this. I usually convert them in Revolut cost free and then send them to the broker II to buy.

[valhamos] 06/8/2020 08:53

Not sure why this has started to fall again in the last few weeks; presumably neither can the company hence today's small share buyback. Recovering demand and falling supply of new shipping capacity has to lead to improved NAV in the future; currently yielding 8.2%

[apollocreed1] 28/2/2020 00:56

This has held up surprisingly well in the plunging market. Very few "alternative investment trusts" have held their value, and shipping stocks like Maersk, Carnival etc have been the worst performers.

[markyjacob123] 11/9/2019 12:56

Another placing under the programme.

Things I would rather invest into mind you.