George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
To invest mostly in operating UK wind farms with the aim to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio.
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Looks like December winds will make up for the November calm. My train to Euston was cancelled today due to the overhead lines being blown down! Hopefully it’s not too windy though as I’ve read that some turbines are shut down once winds reach 50-55 mph.
13% below long-term average which I was surprised by - it seems like it has been wet and windy for months now!
The past three Decembers (El Nina's ) have been below the long term average so it will be interesting to see what happens now we are back in a El Nino phase.
I'm not convinced that an absence of new projects is much of a drawback. I'm happy for UKW to invest its surpluses in share buybacks or paying off debt. Over the near future I suspect the price will probably just move together with the UK stock market and/or interest rates, although the share buybacks should exert some upwards pressure. I added some shares recently at 145p, as markets seem pretty bullish at the moment, and maybe there'll be a Santa rally. Maybe I should have waited for another dip, but it seems like good value at that price, so I thought why risk missing the opportunity.
So, I wonder if the share price will pullback in the new year because we are going to find it harder to raise funds to therefore invest in new projects?
Stephen Lilly has already commented on needing patience, and maybe something might transpire after the share buyback but I've always been bullish on UKW, and I still am, but it doesn't mean I'd rather buy on the troughs than the peaks!
No matter what. UKW has a great future.
ATB.
I think you're right about that. What they mean by Q4 2023 dividend is the one paid in February 2024. It relates to the earnings in Q4 rather than a dividend in Q4. I've just looked back at their announcement to see where the misunderstanding has arisen:
"In recognition of the very strong cash flow delivered by the business through 2023 to date, the Board also has decided to pay a 3.43 pence per share dividend for Q4 2023 increasing the 2023 full year dividend target to 10 pence per share."
The RNS says that for the Q4 dividend it will be higher to make it to 10p. The dividend you have just received is for the quarter ending in September (Q3).
Thanks. Can anyone else confirm that they received 2.19p for Q4?
Does anyone know if this was supposed to be 3.43p or have I missed something?
I agree with you they said 2023/2024 dividend payment would be 10p
Just received the 4th quarter dividend my ii account. I had expected it to be paid at 3.43p per share, but it has been paid at 2.19p per share. Did I misunderstand the earlier announcement?
We've made it into the top 14 investment trusts, as picked by Investors Chronicle
https://www.investorschronicle.co.uk/news/2023/11/16/fourteen-investment-trusts-picked-by-professionals/
Hi - should this news not increase the share price of Greencoat?
I just thought it should?
Discount to NAV is now down to 10%, thanks to the increased share price. I wonder whether it's still worth doing share buybacks rather than reducing debt. Other renewable companies are even selling assets to reduce debt. UKW seems to be so confident about its profitability that it's happy to borrow at 7%. Let's hope they're right!
BBC News - Price paid for offshore power to rise by 50%
https://www.bbc.co.uk/news/business-67430888
There has been masses of wind promotional items on CNBC today
Great rise yesterday. Good steady buyback too.
Https://renews.biz/89441/uk-wind-power-still-a-better-deal-than-gas/
ZeroHedge picking up on the same...
https://www.zerohedge.com/commodities/german-govt-agrees-provisional-siemens-energy-guarantees-amid-wind-crisis
It will be interesting to see what impact this has.
Bloomberg-
The UK government is preparing to offer significantly higher subsidies for new offshore wind farms to get the country’s clean-power strategy back on track after developers shunned a previous auction.
The ceiling for bids from offshore wind companies in the next auction round is likely to be considerably more than this year’s £44 ($54) of guaranteed revenue per megawatt-hour of power produced, according to people familiar with the matter. The price, due to be published later this month, is likely to be set at about £70-75, one of the people said.