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More buying of property earning 10% and selling of property earning 5%. It is what this management is good at and they are level headed enough to stick to what works.
AceOfClubs
Yup - heard back from Interactive. A reclaim of withholding tax will be made but they're only done annually, so yeah, not holding my breath, but not a problem really. Silverknight or others affected may want to drop them a note to ensure you're on their radar.
The bulk of the money paid out by SRE on the 25 January was not an equity dividend but a PID (Property Interest Distribution) taxable at source at 20% under HMRC rules. If you hold in a SIPP or ISA with a decent broker they will recover the tax for you, but it's a tiresome task, HMRC are hopelessly inefficient - so it will take some months.
AceOfClubs
I'm also with II and hold mine in an ISA. Although the divi's been increased I've ended up with much less.
Okay - so i think this is explained here:
https://www.sirius-real-estate.com/media/2203/shareholder-taxation-section.pdf
the 20% withholding tax definitely explains the gap. need to work out whether or not the fact that i hold it in my SIPP makes any difference. ..
Er ... yeah ... now that you mention it ... i got two payments, one of just under 2 cents per share and a second of just over 0.5 cents respectively. so got 2.5 and was expecting a total of 3? is that what you're seeing too? how odd. I use Interactive, which broker are you with?
Divi less than expected. Anyone else noticed it?
Hold recommendation in the Telegraph last week, (Questor).
...so far so good.
SRE new offer for share subscription closed the offer early today at 12:30.
A dividend of 0.030 was declared and to be paid on 24 January 2024 if registered at close off business 14 December 2023.
Dividend is a 11% increase on last year.
Well done Sirius
Higher interest rates will have little or no impact. They will pass any increased costs to their tenants or tighten the purse strings on any spending. They have done it before and will do it again.
Well this seems to have stabalised. Interest rates at 4.25% are always going to be a dampner on a hgh leveraged business. However I'm not really sure why the company needs a float of cash at 123million when last year it only dealt in 45 million assets. I think better management of cash would be a better way of raising the overall share price.
News just gets better
Why does nobody post on this share?
Dividend cut off dates approaching
Nice RNS. Significantly increased dividend expected
Declaration date 12 Jun 2023 (Mon)
Ex-div date 13 Jul 2023 (Thu)
Pay date 17 Aug 2023 (Thu)
Been researching this one since my last post. For me its a buy to hold with that sort of dividend on an 80p share. Lot of upside with this company in the future as well IMO.
Appreciate your view. Thank you.
Looks only fair value at 80p. 20% discount to NAV is reasonable in the current macro climate. Not going back to £1.50 anytime soon. I regard this as one of the better managed property companies with some growth prospects and scope to increase the dividend. It has some very low interest rate loans locked in but they won't last forever. I have held for 10+ years.
AceofClubs
Anybody see a reason not to buy a chunk of this share?
Strange there are so many trades and no movement. These were over £1.50 a year ago!
https://www.proactiveinvestors.co.uk/companies/news/998918/sirius-real-estate-dividend-tracks-ffo-higher-998918.html
the ceo.....on sky news atm
The net asset value of this share is E1. You can buy it at 76p.