Vpc Specialty Lending In... Share Discussion Threads

[brucie5] 08/7/2022 09:35

Why the drop?

[2wild] 08/7/2022 09:25

Added at 79.56p on 10% dividend yield and near 30% discount to nav, bargain.

[badtime] 07/7/2022 17:15

Continued weakness...list s couple of pence towards the end

[jong] 23/6/2022 09:04

XD today - 2p per share payable on 21st July.

[scrwal] 22/6/2022 23:02

A company will know well in advance its projected dates for various meetings etc so for the normal board meetings AGMs etc there should be no scheduling problems -apart from sudden illness...
The lengthened time frame is due to the board being over zealous regarding dotting the i's and crossing the t's - likely none of the shareholders would have batted an eyelid if things were done as per usual as they are happy with the current xd/payment and approval requirements.

[chucko1] 22/6/2022 13:41

Yes, it is likely they will have a reduced gap. This has happened before (April 02 2020 to June 11 20200. After all, the fund continues to accrue all this income and is bound to pay it out in due course - the income has not been asleep!

There has been an overreaction to this lengthened period - I presume they convene a board meeting to rubber stamp the dividend amount, but for all we know, the timetables of the Directors made it difficult to schedule the meeting close to 3 months after the last. Nothing abnormal in this.

[dodger777] 22/6/2022 13:24

Remember ex dividend day tomorrow. Hopefully the next one is only two months away because of the delay due to the Agm 👍🏻

[bluemango] 19/6/2022 19:51

Thanks guys, appreciated.

[redhill9] 19/6/2022 18:32

Someone (apologies, can't remember who) posts the Liberum notes on here periodically and they always seem positive in their view.

Not sure about the effect of rising interest rates on VSL but suspect it could be a mixture of positive and negative - negative if they mean risk of bad debts but positive if they mean opportunity for larger margins? As most of the book seems fairly short term, and VSL seem to manage it well, probably not a concern but others may disagree.

[waterloo01] 19/6/2022 18:05

Their recent presentation is a start. Not sure about notes but must be given the number of buy ratings

Analyst Ratings
Numis: Buy
Liberum: Buy
Stifel: Buy
Jefferies: Buy

[bluemango] 19/6/2022 09:29

Can any of you guys point me to a research note on VSL please?

And perhaps any opinions as to the effect of rising interest rates on prospects here?

[andyadvfn1] 15/6/2022 09:29

So just a month later than expected. Assume they have put the money they have withheld to good use. Hope those that were relying on the regular income stream haven't been too inconvenienced. Just go's to show diversity is required, too many eggs in one basket and all that ..

[jimmladd1] 14/6/2022 07:04

RNS Divi..."The Board of Directors of the Company has declared an interim dividend of 2.00 pence per share for the three-month period to 31 March 2022. The dividend will be paid on 21 July 2022 to shareholders on the register as at 24 June 2022. The ex-dividend date is 23 June 2022"

[skinny] 14/6/2022 07:04

.

The Board of Directors of the Company has declared an interim dividend of 2.00 pence per share for the three-month period to 31 March 2022. The dividend will be paid on 21 July 2022 to shareholders on the register as at 24 June 2022. The ex-dividend date is 23 June 2022.

The Company has elected to designate all of the interim dividend for the three-month period to 31 March 2022 as an interest distribution to its shareholders, thereby "streaming" income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income. No income tax will therefore be deducted at source from this, or from future interest distributions.

[peckers56] 13/6/2022 23:48

Earlier today, attended the AGM - only shareholder there (where were you!!)- believe I was FIRST EVER to attend since inception. Chairman adjusted format to reflect only me there - appreciated!!!!!. Auditor confirmed that BKKT,a SPAC "bought" at $0.50 (IPO at £10), is still, even at $3 (down from $40),in profit. Also, IM "intimated" that new/existing warrants are unlikely to be "sold" as there is little market for them (e.g. Kredivo.

[scrwal] 13/6/2022 13:58

A final dividend needs shareholder approval before it can be paid.
All that needs to be done is call the quarterly divis interims only and so no need for shareholder approval - after all they are 2p each qtr with no variance yet.

[2wild] 13/6/2022 12:34

Doesn't make any sense as most companies declare a recommended final dividend before the AGM.

[scrwal] 09/6/2022 00:05

London South East share chat has thrown this up about the lack of an announcement courtesy of adv11

"I think we have to wait for the AGM on 13th. June where they are proposing a change to the way dividends are approved.

Resolution 4 – Dividend Policy
Under the Company’s Articles of Association (the “Articles̶1;), the Board is authorised to approve the payment of interim dividends without the need for the prior approval of the Company’s shareholders.
However, having regard to corporate governance best practice relating to the payment of interim dividends without the approval of a final annual dividend by a company’s shareholders, the Board has decided to seek express approval of its dividend policy, set out on page 21 of the Annual Report."

Looks like we will be waiting for at least another week. Seems the board are making a mountain out of a molehill really. RNS should be issued on 16th, xd 23rd and dividend should be paid on 21st July.

[a0002577] 08/6/2022 14:00

Interesting share this one : basically a pretty solid 8 pence a year from their existing portfolio plus a kicker from the SPACs


But the Spacs can create a problem. Take this announcement from across the pond on BKKT



which talks of a "SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 20, 2022 - (NYSE: BKKT)"

This may go some way to explaining the fall from above $40 on listing to under $3 today,

[scrwal] 07/6/2022 12:32

We should get a rns about the divi tomorrow. Meant Thursday.

[nk104] 03/6/2022 13:51

The Thursday bank holiday must be the reason. Presumably can't go ex-dividend if the market is closed, so it's Wednesday instead.

[ctrader3] 01/6/2022 13:20

Are ex-dividend dates always Thursdays?

Don't worry about the record date. It's an administrative date, usually one day after the ex-dividend date. Are ex-dividend dates always Thursdays?
Mostly, but not always. There are occasionally circumstances where the ex-dividend day is different. These can occur when there is some other corporate action, such as a consolidation.

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or xmas, new year bank holidays.

[scrwal] 01/6/2022 13:09

If you look at a year I'm confident there are a few non Thursday xd dates.