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Yes Optimus mate, I bought for the dividends in the first place but CSN needs to do better this year as the dividend was barely half covered in 2020! Let's hope that a good set of results will be delivered on AUGUST 26. Wish everyone the very best of luck!
Yes seen_it_D_ ........ some surprising movement and volume on this share today for no obvious reason.
As you say could be sentiment.
Ive been a holder of CSN for a good few years and the dividends it has kicked out have been truly amazing.
Whilst they continue ill hold but always nice to see the SP increase
Oh, Aviva has also reported great results today as well. Maybe CSN's SP rises is the reaction to that too.
By the look of the SP movements, the reaction to announcement RNS of the half year report seems positive. Both DLG and LGEN delivered good figures. Let's hope that CSN will also come up with a good set of results too. Good luck everyone.
No that's not very good, but par for the course with Banks/Building societies!. I started off getting share certificates via Barclays but moved online to iii (as they were) over 20 years ago. I can't really fault them tbh, although their prices have increased quite a bit over the years!. They used to charge quarterly, but following the name change to ii it is now monthly fees of just under a tenner, although you do get this back as credit if you buy shares or reinvest dividends. Funnily enough they've just sent me a link if I refer a friend, (drop me a pm if you want the details) but basically I get a £100 and the friend gets a whole year of investing for free saving you up to £120 in service plan fees and an additional £120 in SIPP fees if they open an ii SIPP*. It's a bit of a "sprat to catch a mackeral" as my granny used to say as you need to fund it with at least £10,000! and obviously after 12 months you'll be forking out £9.99 a month (unless their fees go up again!). I've more than doubled my money in CSN in the ten years I've been reinvesting the dividends and managed to reinvest last months divi @ 270p recently (although with the stamp duty and fee it was 272.20p)
It turned up Wednesday afternoon, 2 days late. I currently get the dividend paid straight to bank, even though I bank with the Halifax it takes 3 working days to reach my account. I'll actually receive the dividend into my bank account next Monday.
You could say it's not the fastest/best service Lol.
Hope Halifax pull their finger out and you get it soon then, hopefully once all the dividends have been reinvested I'll be able to get a cheaper price! Got close today but the spread defeated my limit buy.
"you're" not sure why there is no edit post option on here.
Your lucky you've got it, I'm still waiting for mine with Halifax.
I used to do dividend reinvestment but same as you found the settlement prices were never in my favour.
Hi I was wondering whether anyone here uses ii to hold their shares?, I'd be interested to know what their dividend reinvestment price was today when the divi's hit the account. I've recently cancelled my automatic reinvestment with them as I've felt on a number of occasions their price was manipulated up eg last week my Aviva shares were bought at 411p before the price fell back below £4 a day or so later, and I can still buy the shares for less than this!. I will be reinvesting my divi in CSN at some point as I've been a holder since 2011 and have faith the dividends are secure and will compound nicely over the coming years. - Thanks
Hi Whitelye,
I've always found CSN very hard to read, mainly because in the murky world of actuary rates, investment returns, life expectancies, reserve releases blah blah blah it's hard to follow what's going on (and stay awake!). Embedded value gives you a very rough idea of someone's break-up value for the portfolios but until you tried to sell anything, no one really knows!
So I track the dividend (usually increasing around 3% pa.) and how the market reacts (presumably analysts who DO understand this!). In this instance, both of those metrics have proven reasonable.
Guitarsolo
Results to my reading not that rosy, albeit rise in dividend.
Let's hear the results.
The SP might move the most it has since the last time the company communicated to the market.
I did my research on this company and bought today because of the very attractive div yield and in anticipation of tomorrow's results which should have improved since last year. Why? Because interest rates have risen since last year, equity indices are at higher levels and the GBP had not appreciated versus the SEK since last year, albeit it has vs the EUR. Overall many of the exogenous factors are in their favour.
As Guitar says they have always been a low profile company, perhaps not the most exciting market they are in - however I first bought about 15 years ago when they were around £1 with a dividend of circa 10p = 10% with everybody worried about being a run off business, can they find more books to run at the right price, and therefore going to disappear one day etc.
Still going at over 2 1/2 times the share price and double the dividend - still people doubting...... take your choice!?!
This company needs to work on it's PR
Loughton/ Surprised: I believe the 400p is Panmure Gordon's estimate of Economic Value in 2020 (i.e. the marked-to-market valuation of Chesnara's constituent parts). This is down from circa 445p in 2019 and Panmure estimates it will drop again to 387p in 2021.
Chesnara should always trade at a discount to its Economic Value since, assuming that EV is fair, it wouldn't be easy to quickly dispose of assets. The question is, how much of a discount is warranted?
Most importantly, there is a decent cash pile (£77m) which covers the divided for two years at least. That should give them confidence to maintain/ slightly increase the dividend over the next couple of years. Beyond that, there are "headwinds" in terms of finding new business at the same rate of return as expiring portfolios. However, with footprints in the UK, Netherlands and Sweden there is a decent amount of diversification.
The share price is disappointing and I did reduce a while back. But I've been a holder since 2013 and do so mostly for the solid dividend.
Guitarsolo
I love the yield so picked up a few more today on this update.
As you say, IC stick with their advice ..... but I don't think they, or anyone else has a target price of 400p.
Or maybe that's your target price?
https://www.investorschronicle.co.uk/shares/2020/09/28/mixed-bag-for-chesnara/
Tip Update: Buy at 278p ...target price 400p
Results due 28 Sept. interim ex divi date 8th Oct. according to website
ex divi 10.09.20 :-)
Due soon?
Bought in about 8 weeks ago. Hasn't gone well, sold this morning, nursing a heavy loss. Seems a good business but difficult to navigate where SP is going. Bought into a mining company that's up for sale. Hope to recoup and more. Good luck to all holders.
a rare divi payer and increased it every year, solid performance and well run :-)
Watched interview on proactive investors re company. Little impact from Covid. Apart from a biggish currency cost last year all seems good. Dividend has increased every year so far which is always important.Seems good business in my opinion but as always DYOR.