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To provide a sustainable and attractive long-term dividend by investing in a diversified portfolio of utility scale energy storage projects located in the UK, North America and Western Europe.
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I do wish this would stabilise, would like to get back to my regular £5 K holding but just can’t seem to steady
Diary is out of date here. This is ex dividend....
Agreed SP looks oversold and good point about interest rates.
Added this to my pension today. Looks like a fantastic opportunity at this price, and as interest rates come down the divi will get more and more attractive imo.
Assuming all the pending energised stuff becomes operational according to schedule I don’t have a worry about the divi
“ Europe’s solar power surge hits prices, exposing storage needs”
MrHorse, Have a look at the "Investment Objective and Target Yield" statement in the 2022 financial accounts (I should have said 0.5p per 7.0p not 7.5p, apologies). The aim is to increase the dividend in 0.5p steps i.e. if the average NAV drops below 107p then they sould pay 7p per annum
Trotsky, not seen this banding of NAV anywhere but it looks to be equivalent to 7% of NAV which has been the dividend target since inception. The references I have seen do quote some rounding to be applied and would suggest that if 107 NAV was average for the whole year then I would expect 7.5 dividend to be paid as so close to the NAV banding boundary and also a dividend reduction would cause havoc. Anyway I hope and expect a much greater revenue this year and certainly next so NAV should be climbing higher for the next few years.
Rylidan, Good point. Doh! Taking the average of the opening and the closing NAVs then the average NAV would be in excess of 107.5p for FY24.
MrHorse, I think you'll find that when the new dividend policy was introduced they said that they would pay 0.5p extra for every 7.5p over and above 100p i.e. they'd pay 7.0p if the average NAV was between 100p and 107.5p, 7.5p if the average NAV was between 107.5p and 115p and so on.
Note the energised figure increased by 45% but the operational figure only increased by 7% so clearly there is a lot still ready to come on line
Can’t see much to worry about for now
Hi TheTrotsky, I thought dividend was based on 7% of NAV which gives 7.49p based on NAV of 107 pence. Also there should be a substantial increase in operational assets in this calendar year so this should help increase NAV at March 2025.
I think you'll find the average NAV for 2024 was around 111p, so I expect the dividend to be maintained this year. It was only the closing NAV that dipped just under 107.5p.
Based on the average NAV for FY24 being slightly less than 107.5p, I believe that the dividend for FY25 will now be 7.0p (the dividend was to be increased in 0.5p increments for every 7.5p increase in NAV over and above 100p subject to a minimum of 7.0p pa).
It means the amount will count for the purposes of your 'interest on savings' tax allowance rather than 'dividend allowance'.
Not a concern if held in a Sipp or Isa.
Best to check with your broker though.
Does anyone know how qualifying interest income is treated outside a tax wrapper or within ISAs and SIPPs?
Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income", which may be designated as an interest distribution for UK tax purposes and, therefore, subject to the interest streaming regime applicable to investment trusts. Of this dividend declared, 1.5 pence is treated as qualifying interest income.
The Board has approved a fourth dividend of 1.5 pence per share, bringing the total dividend for the period ending 31 March 2024 to 7.5 pence per share as per the dividend target of 7% of average NAV over the reported period. Based on the 31 March 2024 share price, this dividend was equal to a 11.6% yield.
The ex-dividend date will be 27 June 2024, and the record date is 28 June 2024. The dividend will be paid on or around 15 July 2024.
Last year it was the 15 June so it must be imminent.
Any news on when this might go operational?
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Touched 70p on a weak day market wise, so perhaps sentiment moving in our direction!
I always look at it from a percentage basis. Dividend reinvestment costs 99p which doesn't seem like much. Irrespective of this I don't like to do a DRIP where the cost is over 1% of the amount being reinvested. With bid offer spread and stamp duty on some you can need 2-3% or more to break even. With regular investing being free it provides a nice alternative if you are organised.
I got caught out on the last GSF divi (my first since transferring to II). In my trading account where I hold a small number, the reinvestible component was only £18. I only realised after the fact. It means I paid 5.6% commission on the trade. I was not happy.
Thanks for the info its made it clearer now, my div each time is over 25.00 + the intrest bit so its within the 10.00 limits for reinvestment. As I do regular investing for other shares makes sense to do what you said Swsquires . happy to hear that they intend to keep the div rate. GLA
Getting like a game of snakes and ladders here…. Hoping this time we might push on through 70p
AJB also held up the transfer for a month because I didn't have £50 cleared cash in the account that I didn't know I needed to have in the account ..... so I put a stinging report on one of the social media websites ..... I was moved quickly thereafter.
US Natural Gas is holding past lows, the UK balancing mechanism seems to be functioning slightly better, while I'm still of the view that interest rates will drop this June and Sunak knows this will be so hence the July election so expect to see rallies in the sector going forwards.
We will see.
£10 per holding? MY AJB fees were well over £1000 a year down to £360 a year when including free trades.