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To provide investors with long-term dividends while preserving the capital value of its investment portfolio through investment principally in operational assets which generate electricity from renewable energy sources.
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There it is... maybe they saw my post.
Https://www.trig-ltd.com/investors/calendar/
Q4 dividend announcement was supposed to be today?
The signal is stay in cash. Hopefully sentiment will be buoyed by results and the acquisition of FIG energy/battery storage co. https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=TRIG.L
They announce the dividends and results separately. The 2nd dividend was announced 3 days before the interims. Last year finals were announced on 22nd Feb, and the dividend announced on 2nd. This year the results will be announced on 28th. So it looks like they announced the finals on the last Wednesday in February. I guess the dividend will be announced any time between now & 28th.
I have a note saying the 28th Feb is when we get results and divi announcement.
Why hasn't the q4 dividend be announced? A bit late.
Energy is selling off, recession incoming!
Hi Stewart - look at at my last 2 posts. it's down because inflation and interest rates are high and this is seen as a bond proxy. Also NAV is around 125, so it's trading at a huge discount.
Fundamentals say it should be higher. We have to just wait it out and sit back and take the dividend (which if reinvested means a good purchase price.)
Hi stewart1964,
I really can't see anything specific to TRIG that hasn't also affected other renewables Investment Trusts (although we've got their next results due imminently). The share prices of many others have been falling again quite heavily in a similar pattern over the last few weeks - UKW, SEIT, GSF, ORIT and EGL to name a few. They're all now trading at a large discount to their stated NAVs. TRIG's latest quarterly NAV was down quite a lot - from memory about 127p as compared to 131p - but they say their dividend is well-covered - about 1.6x. I can see that continued high savings interest rates make high-yielding shares seem less attractive, but in my experience savings interest rates have actually typically been falling quite a lot over the last couple of months. I decided late this afternoon to do a small top-up of my TRIG holding, and bought at a price just below 100p. Things weren't helped by this site apparently not showing any RNS announcements today, but as we now know the date of TRIG's forthcoming results, and they've recently announced their latest NAV and the dividend target for their next financial year, I doubt anything major's been missed.
This really has become a fallen star, just wondering if anyone would proffer an opinion on why? I haven't followed it lately, but I presume the low p/e was due to lower capital values? Maybe, geographical diversity also doesn't help income, I note Greencoat hasn't had similar problems, wholly based in the UK. And maybe solar doesn't get the fizz for your bucks had they just stuck to wind. I really don't know.
Once TRIG reports new results the UK windier weather should increase the number of KWh's generated by TRIG, and thus should be good for the share price.
However on the negative side wholesale UK electricity prices seem to have halved since last year.
Not sure how this will pan out in the financial results given TRIG gets Renewable obligations etc regardless of the market elec price.
https://www.catalyst-commercial.co.uk/works/februaury-2024-energy-market-brief/
Frustrating owning multiple alternatives and being overweight in renewables hasn’t been the best in terms of capital destruction. Long term view/foresight needed. Inflation linked Divi rises.
Annoying as it is with the mantra of wanting to go green and seeing current share prices sold down ....
Every month I’m adding as much as I can afford across the sector. Makes sense to me and it’s a large source of income for a decent pension....rapidly approaching.
For those into UAP/UFO reverse engineering.
If any alternative energy sources come out through cough cough UAP disclosure, well that changes everything, however I don’t think the Elite will let that happen anytime soon.
:-))
As others say, inflation up, interest rates have to go up so the "utility" of this share goes down. Hence the share price goes down.
Now would be the time to buy if you think inflation is coming down. See also other forms of pseudo-bond.
We've had low interest rates for such a long time that I got caught out when inflation and interest rates began to rise. as they go up, bond yields go up, so bond prices go down. I knew that. But Bond Proxies also go down. These are equity investments seen equivalent to bonds. This is very much a bond proxy, so whatever the fundamentals say, it will still go up and down in synch with bonds.
I have a number of investments in wind farms,solar, infrastructure and they are all doing abysmally. The dividend simply gets deducted from the sp and hey ho the race to bottom continues. Seems to me a long the way some suits make a tidy sum. Now that our beloved leaders have nearly wrecked the north sea oil companies they are now beginning to waffle over the rest of the energy sector... You invest and we will cut........Blue or red green or yellow.. The stench and waffle are over whelming
Agreed and the net dividend is well covered at 1.6x
Dividend
The Board has set the dividend target for 2024 at 7.47p per share, representing a 4% growth on the 2023 dividend. This increase reflects strong cash generation, but also recognises inflation has reduced materially from its peak and that future cash flows are expected to be moderated by reductions in power prices (with average forwards for 2024 lower than wholesale prices seen in 2023 across TRIG's markets). Maintaining healthy dividend cover provides the Company with optionality to fund organic investment in the portfolio to enhance total returns for shareholders.
Published NAV at 31/12/23 = 127.7. I doubt it's gone down much since then. Share price 101. Ridiculously large discount.
Https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-trig-renewables-infrastructure-group-retail-jul-2023
I have 12,000 shares bought in March 2021 and down £1,207 on capital having last topped up at 118p however had £1447 in dividends and due £215 divi next week.
GLA
Bought back in at last. 8669 shares at average (including fees) of £1.0381.
It was between this and PHP which I already hold, but wanted another stock to go with my UKW, FSFL, NG., and SSE in this broad sector.
It was the apparant discount to NAV that swayed me, and hopefully locking in the current yield while I wait for sentiment to improve.
Hopefully I will hold this forever this time, at least thats the plan, although that was the plan last time and I only held it for about 2 years prior to selling.
Anyone know why the sp keeps falling? Is it simply oil goes up renewable goes down?
My last top up wasn't the bargain I was looking for. Having some EPIC holdings that are being bought out, I decided to switch some funds in here at a pound and a penny as they have dropped a bit compared to waiting for the EPIC shares to be sold. The rest of the funds will go towards UKW and NG.
As most of the capital here was raised from sub ipos as high as 130p..it's getting to the stage that if you had invested pro rata from the initial offering and subsequent sub ipos you would be looking at a woeful return including dividends. Indeed if you had missed the initial share price surge and then continued to invest in the sub ipos you are almost certainly looking at a loss atvthsws distressed levels.
Well I got lucky, could have gone the other way, but with hindsight it was a good move. I really want to get back into this as I believe TRIG will be good long term. However I just don't understand why this seems to keep drifting down. I will buy back in, it will probably cost me more to wait but for the moment I'm just watching.
The price of €25m represents a 26 per cent premium to the valuation of the wind farms as at 31 December 2022.
https://www.insidermedia.com/news/ireland/investment-firm-sells-trio-of-wind-farms
I guess the price is being held back but Treasury yields which keep rising.
Selling 0.035GW of ageing units in return for €25m doesn't seem a bad idea. Considering the portfolio currently covers 2.8GW this is essentially rounding error. Shame the price is still such a discount at the moment, but maybe time to lower my average!
Very depressing. Every where you look there seems to be problems. Living in the digital age where news is almost immediate it is plain to see our planet is led by morons... There are thousands more morons who are happy to be led by them...!!