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To provide investors with a sustainable, progressive quarterly dividend and enhanced capital value, through investment in ground based solar assets predominantly located in the UK.
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Nicer price now
Nice price, nice divvy
I bought in at 106p two years ago and have had 4 dividends a year since. The dividends now earn dividends so the return has been ok. The SP has fallen back a bit which is disappointing but I am in for the long term.
New to this share, the £100000 director buy would seem quite a vote of confidence,am i right in thinking this or is it a payment to him in shares?
Many thanks in advance
What do you think of the 6% increase in the target dividend? Looks pretty weak given the rate of inflation and the previous 2% increase.
This goes ex dividend on the 20.4.23.... I have added today hence the slight fall... If you believe that.....
I would like to see a small reduction in the dividend to account for this. It would only need to reduced the dividend per share by around 0.64%. The dividend forecast is I believe 7.12p per share, so it would only need to drop to 7.075p per share to account for the windfall tax. Maybe less as the battery storeage side is unaffected by the windfall tax. I can't see shareholders making too much fuss about such a small drop.
It seems like a simple way to negate the issue which is caused by no fault of the business or the BOD. The business itself is just as good as it was, and I see it doing well going forward.
Sooner or later the penny will drop that on shore wind has to be rolled out. Each day I pass a shopping centre and the wind turbine is usually flying. Villages and towns can all have their own and then there is no need for pylons... On windless days solar and water can help fill the gap with diesel and batteries as back up...
I don’t understand what’s going on here. The share price has drifted to a large discount v the NAV, which looks conservative to me.
This any good.
From Proactive Investor:
Foresight Solar Fund Ltd (LSE:FSFL) will suffer a modest hit to its NAV following the introduction of the windfall tax on renewable generators on 1 January, it has announced.
In a statement following the fund, it confirmed its net asset value of £771.2mln (126.4p) in late September would be reduced by 0.8p due to the new 45% tax.
After Russia’s invasion of Ukraine saw energy prices skyrocket, low-carbon generators have been among companies enjoying hiked profits, leading the government to introduce the levy.
Foresight added in its statement that it’s solar assets will be affected by the levy, while its battery storage resources will not.
Odd that the share price falls after the NAV RNS. The impact of the levy isn’t that bad, but I would have liked some idea of the annual cash impact.
Section 5.3.3 from today's statement:
"Electricity Generator Levy – The government is introducing the Electricity Generator
Levy, a temporary 45% tax that will be levied on extraordinary returns from low-carbon UK
electricity generation. For the purposes of the tax, extraordinary returns will be defined as the
aggregate revenue that generators make in a period from in-scope generation at an average
output price above £75/MWh. The tax will be limited to generators whose in-scope generation
output exceeds 100GWh across a period and will only then apply to extraordinary returns
exceeding £10 million. The tax will apply to extraordinary returns arising from 1 January 2023
and will be legislated for in Spring Finance Bill 2023."
Going to back to the H1 RNS, average FSFL 2022H1 revenue was £106/MWh. And UK generation for H1 was ~500GWh -> electricity generation revenue of about 53M, of which (106-75)/106 = 29% will be deemed excessive. So that's 45% of (29% of 53M) = £7M off the 116M H1 profit. Ie about 6% reduction in profit after tax. This compares with current SP being 11% below NAV of 126p as of 30th Sept. Could be worse IMHO. HEALTH WARNING: Im not an accountant - please DYOR.
buy, or will somebody now tell me it's a technically. Privately arranged transfer.
Big drops in the price in the past few days. Interest rates on the up I guess and that leaves the dividend yield less attractive. Still a hold for me.
HL, seem to be getting slower on paying dividends.... Im up to 16 days on some shares, when other brokers are 3 days. Seems to be a running joke, If its paid on Thursday / Friday then it wont be seen the same week.
They seem to take offence when I question the amounts of money being held back and can they explain the difference.
Added to the FTSE250 index which may explain the rise. However all solar generators have had a good day.
Added here but is shows as a sell......Been in for a year and is a steady hold..
Got mine on Friday (HL account)
Still waiting for mine to hit my HL account. HL are normally very good so it may not be their fault. Hopefully see it on Monday
Talking of payment day has anyone received their dividend yet, or are Hargreaves Lansdown being slow to credit client accounts ?
It’s payment day. Ex div was April.
This is ex div today... Will buy the shopping!!
Still going. Certainly doesn't seem any reason why this shouldn't go to a 10%-15% premium so 130p seems eminently possible in the short term.
...through 110p today. The elecy generators are fantastic inflation hedges, so I'm staying put here having bought most of my holding below £1.