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Https://www.ft.com/content/3a80d337-cd09-4d16-94f7-ec7e08720669
Lord Lee adds Chesnera to his portfolio as a consistent dividend payer with the potential for sp growth....
Why such low earnings to pay the dividend?
Time flies, interim dividend next month. Let's hope that people will start buying again. Would be nice to see it revisit £3 once more.
2,554 Buy this morning showing as a Sell
TT. This is a fine company with an excellent divi track record. I also hold AV and PHNX for regular income in my ISA
Hi. First time posting here under CSN. I only bought CSN a few months ago, after having it on my watchlist for a while. I was wary of it, as I didn't know how it would be affected by interest rate hikes. But the share price has been remarkably stable for the last 3 years, despite the interest rate chaos and market swings.
My main concern now is whether the dividend will be able to keep up with inflation over the long run. But, given the high current yield, I can live with some fall in the real value. I don't really expect my investments to give a real return of 8.3%. (It would be nice though.)
The only share i know where if the share price goes up,the overall share value goes down.It's a one off
Not so bad, only dropped by 14.5p. let see if it will rebound tomorrow then.
Looks like few people are buying for the 15.16p dividend. It will go ex next Thursday. Let's hope that the sp will hold after that. At least won't drop more than the dividend. GLA
Net asset value not always as important as free cash flow but useful to know as previous one can see 2021 was only 223 p
I have just checked the dividend history with DividendMax. If you have bought your shares at this price 9 years ago, then your lowest dividend yield would be about 6%. The current yield is just over 8%. So, you didn't lose money at all but enjoyed good incomes all these years.
Dividends received make it a lot better than money sitting in the bank over that time though.
Yet the SP is about the same as when I bought in around 9 years ago!!!!
Here is the extract from the half year results:
· Positive divisional commercial cash generation of £18.6m
· Strong solvency of 195%, above usual 140-160% operating range
· Economic value ("EcV") of £526.7m (351p per share)
· 3% increase to the interim dividend to 8.12p per share
Let's hope that the full year results will be as good. GLA
For CSN I tend to focus more on Solvency II surplus and free cash as that is what drives dividends to shareholders.
The IFRS results will be volatile because as CSN states Scildon marks assets to fair value but it’s liabilities currently use historic locked in assumptions so when interest rates rises the bond assets fall in value but liabilities don’t fall which creates an accounting loss. I suspect that assets and liabilities are largely matched and this is what matters in economic terms.
The gearing of the balance with debt that qualifies as SII capital should also boost returns on ordinary shares as it can be deployed for acquisitions to generate income in excess of cost of debt.
With 3 recent acquisitions I am happy to hold CSN for its yield.
Today's RNS, Abrdn doing a bit more stake building
Good to see Chesnara tipped in The TImes today. They also appreciate a good thing when they see it !
Agree Whitelye (getting your name right!).....I've held for a decade and pocketed the dividends. The share price is a bit of a pain but I believe it will improve as people seek boring and predictable.
Held CSN for years, much overlooked but always been a reliable payer. A small Phoenix - well sort of !
Morning WhiteEye,
Always difficult to read a CSN update! The headline loss figure is usually misleading (as is a large profit), as it swings around with mark to market valuations. I can appreciate the need for M2Ms to give an "immediate" valuation figure for investors, but it is not always that helpful for entities like CSN who aren't going to be disposing of portfolios in the short term. Same thing with REITs, if they're not going to be disposing of assets immediately, does it really matter what it is worth right now? (I know, you need it to assess solvency etc, but if a markdown causes a profit to become a loss, and then back to paper profit later, how has that helped?!)
There used to be a posted called greyinvestor (possibly from iii) who always had a few wise words to say. Not sure where he is nowadays. In his absence, I put faith in the management and I find their dividend movement a good indication of where they see the company. So a 3% uplift says to be they are confident but cautious. Sounds about right!
Guitarsolo
Good in most parts but taken a bit of a beating earlier this morning (as I write). Acquisitions on track or completed, good solvency and cash generation figures and increased divi. Loss of £104 million due to market conditions v. £20.8 million profit last year. No doubt the loss is being focussed on this morning although not a true measurement of the business.
CSN take another positive step in Netherlands.
I suspect life insurers are being ignored at present due to investors concerns over IFRS 17 the new accounting standard but this doesn’t impact cash flows
Happy to hold and pick up dividend yield
The company that keeps on growing. Positive news on the acquisition front as detailed in the RNS. Dividend enhancing as well. I do not understand why CSN is so overlooked !