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To provide investors with long-term dividends while preserving the capital value of its investment portfolio through investment principally in operational assets which generate electricity from renewable energy sources.
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It would be very informative to know what the real issue price of shares in circulation was. They started with 300m in 2013 but nearly all the shares in issue are ones released on sub ipos ( probably in the range of 110 to 130) and accretive to the nav. So far from being just shy of issuance they must have actually fallen some 20% or so not allowing for dividends. If there was a way of ascertai ing an average issue price it would be another useful tool in determining value now.
Put my money where my mouth is and went for for a first tranche of 10k at 98.14 just now. Pound cost averaging in with the volatility. Btw, having studied the results I can see the fixed price element of energy is somewhat over 50% in the near term.
All the brokers are at hold or buy. But the Market ( at a 23% nav discount) has other thoughts. My concerns are the for the energy being sold on the open Market and not fixed . About 50%, I think? Nevertheless I'm looking to buy, and surely both interest rates are topped and energy prices closing in on a bottom. You'd think further nav downgrades were limited.
Results seems fairly transparent, 7p down on nav 7p paid out and hence a clear accounting balance of zero profit and no off balance sheet jiggery pokery( it's something like a p/e of 500 which makes sense)Disappointing that there was no surplus dividend cover ladt year. Haven't got any of these just down, but any opinions on whether we are at the bottom on nav downward adjustments, which could again give a shocking price to earnings ratio and is there likely to be better cover on dividends in 24.
Result presentation well publicised
join investormeetcompany
This is the email I got about it. Should still be available as a recording.
"This is a reminder that THE RENEWABLES INFRASTRUCTURE GROUP LIMITED will shortly be holding the meeting Full Year Results at 2:00pm.
To join the meeting, click on the button below to accept the meeting invitation.
Accept
Should you have any questions, please contact support@investormeetcompany.com.
Looking back it appears some presentations are done days after the event. I wonder if I have complained about these before.
I don't know why they can't do what most other companies do. Are we second class.
I couldn't see a mention, but it may appear on the investormeet site soon or on youtube.
What no webcast of the finals or do I need to go to specsavers
Great to see the SP above the divi rate...
People piling in to beat ex-dividend date....expect an equal fall tomorrow.
Nice bounce
The seller has been a hurry ... might be cleared
Adding to the list, SSE renewables had a poor year so the same likely here. Difficulties with connecting to the national grid. Solar and battery issues with back up supply with a preference for alternatives. This might be resolved next year. Windfall taxes.
So quite a storm all happening at once. There is a likely hood that all these things might reduce in time but until then I suspect the sp will be down. So when will it start to normalise probably before things do get better but how close are we to the bottom
The share prices of all renewable energy and infrastructure trusts have fallen. Higher interest rates are sucking liquidity out of the market and the broad money supply is contracting. Government bonds are soaking up the available cash. Things could change pretty quickly when interest rates start falling.
My take is that the market is pricing in a lack of investment or incentives from the likely Labour government who will be skint.
My guess is the fall in forward power prices as gas prices come back down from the crazy highs of the last few years.
I am struggling to see why the fall is continuing. I would have thought the dividend yield being well over bond yields would have stopped the fall Any ideas anyone?
Ex-div date Payment date Amount
22/02/2024 28/03/2024 1.795p
There is an RNS that covers it
Discount approx 25% too
What is the script price? If its above current market then that is why or that new shares will be issued at a discount deemed too much for the board so its better to do cash only.
Anyway I have topped up on these under a quid
Could someone explain why the scrip is considered detrimental to shareholders electing for it due to the large discount to NAV, please? My understanding was it is a good idea to buy shares at a discount, so I am unclear what this is about.
Many thanks.
There it is... maybe they saw my post.