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To invest mostly in operating UK wind farms with the aim to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio.
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I think you're right about that. What they mean by Q4 2023 dividend is the one paid in February 2024. It relates to the earnings in Q4 rather than a dividend in Q4. I've just looked back at their announcement to see where the misunderstanding has arisen:
"In recognition of the very strong cash flow delivered by the business through 2023 to date, the Board also has decided to pay a 3.43 pence per share dividend for Q4 2023 increasing the 2023 full year dividend target to 10 pence per share."
The RNS says that for the Q4 dividend it will be higher to make it to 10p. The dividend you have just received is for the quarter ending in September (Q3).
Thanks. Can anyone else confirm that they received 2.19p for Q4?
Does anyone know if this was supposed to be 3.43p or have I missed something?
I agree with you they said 2023/2024 dividend payment would be 10p
Just received the 4th quarter dividend my ii account. I had expected it to be paid at 3.43p per share, but it has been paid at 2.19p per share. Did I misunderstand the earlier announcement?
We've made it into the top 14 investment trusts, as picked by Investors Chronicle
https://www.investorschronicle.co.uk/news/2023/11/16/fourteen-investment-trusts-picked-by-professionals/
Hi - should this news not increase the share price of Greencoat?
I just thought it should?
Discount to NAV is now down to 10%, thanks to the increased share price. I wonder whether it's still worth doing share buybacks rather than reducing debt. Other renewable companies are even selling assets to reduce debt. UKW seems to be so confident about its profitability that it's happy to borrow at 7%. Let's hope they're right!
BBC News - Price paid for offshore power to rise by 50%
https://www.bbc.co.uk/news/business-67430888
There has been masses of wind promotional items on CNBC today
Great rise yesterday. Good steady buyback too.
Https://renews.biz/89441/uk-wind-power-still-a-better-deal-than-gas/
ZeroHedge picking up on the same...
https://www.zerohedge.com/commodities/german-govt-agrees-provisional-siemens-energy-guarantees-amid-wind-crisis
It will be interesting to see what impact this has.
Bloomberg-
The UK government is preparing to offer significantly higher subsidies for new offshore wind farms to get the country’s clean-power strategy back on track after developers shunned a previous auction.
The ceiling for bids from offshore wind companies in the next auction round is likely to be considerably more than this year’s £44 ($54) of guaranteed revenue per megawatt-hour of power produced, according to people familiar with the matter. The price, due to be published later this month, is likely to be set at about £70-75, one of the people said.
They are only buying their own shares because there is currently nothing worth investing in. Government is offering no security and incentives.. Too many headwinds and pylon protestors..
Yes long way to go yet, Nav still just over -14.
Adding up the shares in the share purchase RNSs so far, I get a total of 1.15 million shares purchased. By my rough calculation, that's about 0.05% of the shares in issue, or about 0.33% of the shares they announced they were planning to buy over the next year (about 15% of shares in issue). They've still got a long way to go!
Well, they haven't hung about buying sizeable tranches of their own shares.
I've noticed SHELL are also going through (a much larger) buyback, but they've also offered to buy shares back from investors.
Does anyone know how that works and or why it's different to our buyback?
Regards.