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Pay day is April 15 there'll be a lot of money kicking about for reinvestment and at present another 4.5p coming as normal end of June.
Remember due to Easter ex dividend date is 28 march as Good Friday and Easter Monday are holidays.
I contacted the company a while ago regarding future dividends and the reply was.
''Subject to there being no material change in the financial affairs of the group and the operational performance and cash flows continue at satisfactory levels, it is intended that the fixed semi-annual dividends on the company’s preference shares arising on 30 June 2024 and 31 December 2024 would be paid as they fall due''.
So looking good at present.
Nice to get confirmation, and hopefully no more missed payment dates in June.
The directors have today declared that a dividend in respect of all of the outstanding arrears of dividends on the preference shares (amounting in aggregate to 11.5p per preference share) will be paid on 15 April 2024 to holders of preference shares registered at the close of business on 2 April 2024.
New RNS out today regarding shareholder approval ...everything is going in the right direction so far
Agricore
Thanks for the link
Wr666,
Did they read this?
https://theoakbloke.substack.com/p/introducing-r-e-a-holdings
Thats interesting a big trade of 25000 shares around 4pm at 83.50 per share , someone out there must know something.
If all goes well its 11.5p paid on April 7 then back to normal with 4.5 paid June 30 and 4.5 paid Dec 30 so potential of 20.5p by end of 2024. Do we all top up now ?
Oops, just noticed the fly in the anointment…
December divi deferred until April 7th but the 7p of arrears to be paid at the same time.
Well this morning’s RNS has put a rocket under the prefs.
All arrears to be paid, fantastic news, but also security increased on future payments.
Could allow them to trade closer to par now.
The semi-annual dividends arising on the preference shares in June and December 2022 were paid on their respective due dates. In addition, a payment of 10p per share of arrears of dividend on the group’s preference shares was paid at the end of 2022. Provided that operational performance and cash flows continue at satisfactory levels, the directors continue to plan for the elimination of all arrears of dividend on the preference shares by the end of 2023.
So if all goes well 16p to be paid in total over the next 11 months, 2 x 4.5p & 7p of arrears.
100K buy yesterday probably dried up all the volume
I can’t buy anymore, nothing available from 10k to 1k, should have done it yesterday!
Well the RNS confirms that we will receive 14.5p end of December, with another 7p extra due. I think it is a great Risk/Reward asset. Yet no buys so far today on the bell, receiving that confirmation!
I reckon the RNS will be tomorrow or Thursday giving the announcement on the preference shares. I fully expect that they will confirm the extra 10p, giving a payout at the end of December of 14.5p. We will still be owed 7p for next year. Not bad when you can buy at 103!
Absolutely disappointed . Thought they would pay at least half of the outstanding. Hope they keep to their word when they announce the December Payment to retain Investor confidence
Well that is disappointing that they are not paying off any of the 17p debt that is still owed to holders. They agreed to pay 10p of the debt this year subject to market conditions, so fully expected 5p with this payment. The full 10p must be being paid in December, as palm oil prices are very good.
It's certainly been a decent performance and yield, I also own the Sterling bond, there's plenty in my fixed income buckets that's got more interesting.....I suppose we should start looking in to the potential of RAVP.
I'm still willing to pick up at 4% yield, if it's solid and likely to be delivering for the long term. Japan interests me at the moment. Frustratingly I'm waiting for an initial listing of a growth stock I have on my watch list and the maiden reports from TLEI/P & FSF. I'm well up on the former, down on the latter. That leaves me wondering if there's an opportunity in FSF over the long term. I intend to hold the Sterling bond through the revised maturity. ERO1? I sold on the US news, so It was neutral for me with a little bit of income.
A good indication in today’s RNS that they are going to be paying more than 10p, of the outstanding 17p, that they had previously agreed to pay. So this year we can expect more than 19p coupon. This must be the best yield in the UK market, does anyone know a bigger one?
Initally a rise of 3.5p seemed rather disappointing until I realised that today RE.B goes Ex-div so, in theory at least, should have fallen 5.5p. So +3.5p is effectively a rise of 9p when you take the dividend into account.
Well after today’s RNS dated 25 November, all being well this lovely preference share will be giving me a minimum of 19p dividend per share next year and last night they closed at £1.03, I wonder what they will finish today!
Another strong day, Sterling bonds back at par. Some weakness in the equity, I may get another chance at that. ;)
With palm oil prices at record levels, with a payment due of 5.5p in December, there is a very good chance that the 17p that is still owed on the pref coupon will come back to investors in June. Now that would be something to look forward to 21.5p being paid. Remember no ordinary dividend to be paid, until they have caught up with the missed payments. All that potential yield, with very little downside risk IMHO.
Bought last year, looks interesting on "forward prosperity": 18p of accumulated income...