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I heard the boss of Saudi state owned oil firm Aramco says demand in oil is increasing... Amin Nasser said on CNBC he expected total demand to grow to 1.2m barrels a day this year. Today's oil price is $44.87 as st 15:18. I don't know whether with that said this is a good idea to move funds from TEMI at a loss from 680p days, and use to offset CGT? Unsure if that idea of further dividend cut to 4p could happen this year? Would anyone therefore buy BRWM instead of BRCI? Many thanks.
Difficult one to call as the rebase might already be priced in and the anticipation of an upward rebase should take it higher IMO.
I'm not invested here but been looking at this stock for a long time. Nearly bought in when it was 49p. Now they have said 1p per quarter they are looking to conserve cash. Share price will go down . What price does everyone think it will go down to ? I saw in last few days one company pulling out of a blackrock fund!
I'd certainly be averaging down at those levels too if it ever happens but beginning to think the nav holds greater influence than the income,at least it's diversified within the sector as well as geographically positioned for recovery as/when. Timing will be the final arbiter and that's down to us. Good luck with yours too mate.
At 4p a year divvy, I see this dropping back to 38p- 40p range , I will be buying bucket loads at that level , I have no doubt long term the cycle will improve and divvy will recover. Good luck with your investment .
It looks like they've lined us up for a penny a quarter forwards but that could change and chances are so will the SP since it seems more governed by the value of the constituent holdings than their ability to pay the income so frustrating as it might be for those of us who bought these for the income,my inclination is to sit tight and wait...and wait...and wait! If they're still unable to pay 6ppa when things are back to normal and the SP here is back over a quid then I'll shift the lot at which point they'll be 120 within days aaarghhhh GLA
divvy being cut from 6p to 5p not as bad as feared , however it may get cut further next year , bailing out after ex divvy date.
Dividend Declaration Mon, 14th Mar 2016 10:13 BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC - Dividend Declaration PR Newswire London, March 14 Announcement of Quarterly Interim Dividend 14 March 2016 The Board of BlackRock Commodities Income Investment Trust plc is pleased to announce the first quarterly interim dividend in respect of the financial year ending 30 November 2016. A dividend of 1.5 pence per ordinary share has been declared by the Directors, payable on 21 April 2016 to holders of ordinary shares on the register at the close of business on 29 March 2016 (ex-dividend date is 24 March 2016). Since the publication of our Annual Report the sector has experienced further challenges as falling commodity prices have forced many companies to reduce or cancel their dividend payments, most notably ConocoPhillips and BHP Billiton cutting their dividends by 66% and 75%, respectively. In light of this the Board has revised its 2016 dividend target. It now intends to target a second quarterly interim dividend of 1.5 pence, followed by third and fourth quarterly interim dividend payments of 1 pence, making a total of 5 pence per ordinary share for the year as a whole. The Board intends to use revenue reserves to support this target if portfolio income alone is insufficient. Thereafter, the Board's intention is to maintain the quarterly dividend and grow this as market conditions allow. Enquiries: Mark Johnson BlackRock Investment Management (UK) Limited Tel: 020 7743 2300 Press Enquires: Lucy Horne, Lansons Communications Tel: + 44 (0)20 7294 3689
I'll take 100 110p in 18 months from now for a 40% gain + the divi myself, annualised to about 25%.
Certainly looking more positive on the underlying holdings,not sure about profits as never been in that position here as a long termer but long haul okay for me as long as the divi is held. Jemi along with a few others in that area looking more positive plus our latins(Blackrock and Aberdeen) got a boost on Brazil's mega week by the looks of it. GLA
As the long term trend is still at a nascent stage, it would be prudent to take profits when available now. Think 112p could be longterm target if Draghi steps in to get Europe going again... I bought a tranche here at 49p area and also in JEMI at 77.5pish..
This is starting to look like a good contrarian play with a high yield. Next stop 65p Roll up, roll up!
I'm starting to sense a bottom here at 51-53p. Fingers crossed the sentiment has turned.
Well the next one should be end of March(interim) so let's hope they stick to their guns!!
Thanks for confidence booster!!
There always seems to be a lag of a day or two following on from the market moves. Regarding the dividend,your guess is as good as mine but I still feel it's paramount they maintain it as most of the biggest holdings from what I can see are rightly or wrongly maintaining theirs plus this is an income fund so one would assume their activities have that in mind?!
weird how its not jumped with trend of oil up over last few sessions, like oilies jumped near 10%. Maybe its just cause of extremely high risky dividend?
http://tools.morningstar.co.uk/uk/cefreport/default.aspx?SecurityToken=F000000EYO]2]0]FCGBR$$ALL It says 2.19% disc to NAV. But how can it be a disc to NAV when sp today of 53.25p is higher than NAV of 49p?
There is talk that oil is bottoming and may be higher by the end of the year particularly if the producers can stitch together an agreement. This may help the sustainability of a high dividend. particularly important as there is a perception that UK interest rates are now unlikely to be increased and may even be cut. As to entry point there may be a better day than today but we are today looking at a nominal annual dividend rate of over 11 percent.
No comment was made to future dividend payout, but then no company can in such a volatile market. Why not just cut the dividend now to remove any uncertainty or move to a script dividend for next couple quarters? Maybe Irans Emergency OPEC meeting could help the markets as a whole soon?
Into profit and just received1.5pence quarterly dividend. Patience could be rewarded further. Interest rates look benign or weak.
BlackRock Commodities Income Trust Hit By Natural Resources Unrest Tue, 2nd Feb 2016 18:22 LONDON (Alliance News) - BlackRock Commodities Income Investment Trust PLC on Tuesday lamented a challenging year for commodities amid weak Chinese demand, production oversupply and US dollar strength. The trust's net asset value per share returned negative 29.4% in the year ended November 30, while the share price returned negative 34.8%. Over the same period, the Euromoney Global Mining Index and MSCI World Energy Index returned negative 38.9% and negative 12.1% respectively. Since its launch in December 2005, the trust's NAV has returned positive 0.5% and the share price negative 2.1%, with all percentages calculated in sterling terms with income reinvested. Since the year end and up to the close of business on Monday this week, the trust's NAV has returned negative 15.1% and the share price has returned negative 12.1%. The trust maintained its total dividend for its last financial year at 6.0 pence per share. "Over the past 12 months the sector has significantly reduced capital expenditure, cut costs, reduced its work force and is now beginning to lower production. Despite this, commodity prices continue to be driven down by China fears, oversupply and US dollar strength," Chairman Ed Warner said. "2016 is shaping up to be another tough year for the natural resources sector. Whether we have experienced the worst remains to be seen but one has to believe that the industry is now better positioned for any recovery. In this context dividends, however, remain under pressure as revenues fall and the cost of debt servicing rises," Warner added. Shares in the trust closed down 4.2% at 50.31 pence on Tuesday. By Samuel Agini; samagini@alliancenews.com; @samuelagini Copyright 2016 Alliance News Limited. All Rights Reserved.
The uptrend here continues... I say maybe to at least 66p before falling back a tad...
Holding some of the other ones you mentioned too plus some PEW,same kind of thing. On here it'll be interesting to see what happens with the oil price but also how they sustain the divi with the miners being equally low although they do have income from the Enbridge holding and their options trading. Tax, yes the 7.5% was a sneaky one alright but my main concern is it doesn't become a basis for future increases.....and a Tory government too,shocking! GLA.
Nice bounce but can it really be sustained given crude inventories? Won't the downward trend just resume until some big players stop pumping? Haven't added here yet but bought some ECWO which has an enormous discount. Shame all this yield will become a curse when the new dividend tax laws take effect next year.