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It's going ex-dividend tomorrow. Is it real?
I stumbled across this yesterday and wondered the same, surely the SP isn't going to fall off a cliff on Friday, but has a whiff of too good to be true
I have checked with HL and it's true. they got the figure showing 132p special dividend. It also says on this page that the ex-dividend date will be tomorrow, pay day on March 22. So, I have just bought 1k shares hoping that the SP will not fall more than 132p tomorrow, lol.
This is stupid now. I can only sell the shares for half a pence each after it has gone ex-dividend, lol.
Ok, so it did fall off a cliff... I've emailed Foresight and asked what their plans are going forwards.
Did you buy any shares?
DIVIDEND DECLARATION – ORDINARY SHARES
Further to recent communications with shareholders and following the successful sale of its portfolio of solar assets held in the Ordinary Share class, the Board of Foresight Solar & Technology VCT plc is pleased to declare a special interim dividend of 132.0p per Ordinary Share, which will be paid on 22 March 2023.
The shares will be quoted ex-dividend on 9 March 2023 and the record date for payment will be 10 March 2023.
This special interim dividend represents the majority of proceeds received from the sale, with an amount held back temporarily to retain the listing of the Ordinary Share class on the London Stock Exchange. A circular seeking to reorganise the share capital, which is expected to facilitate a further distribution, will be sent to shareholders in due course.
Yes, it says total return to shareholders will be 185p. So, there is still 53p to come yet. Let's hope we don't have to wait for too long.
And the pay day for this dividend will be March 22, not 10.
Yes I bought a few.
It's the record date for payment today which is different to the actual payment date.
I'm a bit confused by the 185p figure, it's not clear whether that is coming further down the line.
'A circular seeking to reorganise the share capital, which is expected to facilitate a further distribution, will be sent to shareholders in due course.' - So this will confirm the 53p and hopefully what will happen with the FTSV shares, IDK whether they'll wind it up or amalgamate it into one of the other funds?
No. this is as clear as mud. I couldn't find the dividend declaration RNS on here either. It did mention about this 185p total return to shareholders in the latest RNS though.
Here is the extract from the last RNS:
"Completion of the Sale of Ordinary Shares portfolio
Foresight Solar & Technology VCT plc (“the Fund”) is pleased to announce completion of the sale of its portfolio of solar assets held in the Ordinary Share class (the “sale”), generating gross proceeds of over £100m.
The final sale price has delivered a strong return to shareholders in the Fund of approximately 140p per Ordinary share compared to the last reported Net Asset Value of 131.2p per share as at 30 September 2022 and reflects Foresight’s capabilities in asset management optimization. The total return to investors is approximately 185p."
Someone just sold for £18.75! Probably got about £5 after commission and charges. Why not let it be and wait for it to recover or wait for the rest of the dividend, lol?
Ok, it's unclear as to how it will work and breakdowns, a bit more detail would have been nice from them, but what Andy posted confirms that more is to follow.
Yes, I don't understand, better to just sit on it.
Yes, let's just wait for the next payment then. Hope that they won't keep us waiting for too long.
I received the following this afternoon;
'The Solar and Technology VCTs which you hold shares in has now sold, please see the RNS below. .
https://www.londonstockexchange.com/news-article/FTSV/sale-of-ordinary-shares-portfolio/15783700
There is approximately 140p return per ordinary share. This will be paid via special dividend on the 22nd of March. This means that should you wish to re-invest the proceeds into the FWT share class, you are able to.
Reinvestment into another Foresight managed tax-efficient product will benefit from a 0% Initial fee, should you reinvest by the end of May 2023.
The exit proceeds are due to be paid to you via a special dividend on 22 March 2023 to your nominated bank account. If you would like to reinvest before the end of the 2022/2023 tax year, we encourage you to submit your application ASAP (with payment to follow) as we anticipate higher volumes than usual with Tax Year End fast approaching.
If you have any further questions regarding this, please contact the Investor Relations Team on 020 3667 8181 or at investorrelations@foresightgroup.eu
Should you require any further information please do not hesitate to contact me.'