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Should go back to mid 170's fast today, anyone with spare cash snapping these up if the SP is still low 160s after the bell.

The SP movement smacks of shenanagans IMO even without the "Trumpenfreude", but it means good director deals, imminent 1st quarter announcement and an expected (early June perhaps) dividend to be confirmed.

110,000 boe/d...

5.07p ! Great level of div and good RNS, also a great day, by chance to release this as it turns out, ftse set to gap up around 400. Should be back about 110p today..

Not sure, but very welcome. Very modest volume of sales.

Perhaps news but we are due a run up as this is the month of the first 1/4 update and another dividends announcement.

And down we go by 2.6%

Not just interesting, but an excellent read for all buyers in the 40s and 50s..

"The Gretna Green BESS project is not currently part of GRID’s development pipeline but is instead part of Gresham House’s wider asset management business. Historically, projects initiated by the wider asset management business have typically been transferred to the energy storage fund to be developed.

GRID currently has an operational BESS portfolio of 945 MW/ 1,307 MWh all of which is sited in Great Britain. This is set to rise later in March 2025 when the under construction 87 MW Bradford West BESS is scheduled to come online, taking the portfolio to 1,072 MW. GRID also owns a 100 MW project in Walpole, Cambridgeshire, scheduled for completion in 2026. ESS News understands there is a further 727 MW of projects within GRID’s pipeline but not owned by the fund – this does not include the 456 MW Gretna project."

Great results !

Profit before tax up 105.9% year-on-year - Highest ever annual gross written premium - up 5% year-on-year

Total dividend in respect of 2024 at 13.0p over double the forecast - up 44.4% on 2023 - Share buyback of £5m proposed

Yet the SP only went up 5%. What Gives ?

Some proper director deals would send the right message to the market, but as we are, surely there will be a rise towards the ex-div date as the dividend becomes widely attractive. IMO The SP should move slowly back above 160..

"Do holders feel SMIF is still a good place to park funds for income in this mildly declining interest rate environment?"

Yes... But bear in mind this a slow mover so IMO reinvest the first 3 months dividends at least to ensure you won't lose your capital.

So this new loan deal potentially saves the company £210,000 (0.3% x £70m) which could probably fund a few days of their share buyback. As of last August they had used £143.8m of this facility, and as of Dec24 £134.4m (what is the level currently after declaring just under £107m of debt paid off), so in affect this agreement has been made on debt that doesn't really exist. Onwards, very slowly upwards but a fantastic yield.

I had sold a large part of my holding recently at 200 for personal needs, but rather than holding this money as originally planned I've just re-invested at 166.29. Surely the SP will creep back up to the 200s with a progress / trading update and two close dividends in the coming weeks.

The results recently do not justify a drop of 30% in the SP IMO. Patience should be rewarded here.

Hi avocet123 and all. The trend since September is down and set to go lower. The short position has edged up slightly, support is the 1400s especially the low 1400s (1405 from Oct 2022). I'm might buy low 1400s, and will definitely consider if that 1405 support breaks but the yield at 1400 is still only around 4.7% meaning there are much better yielding energy companies to buy.

You are giving far too much intellectual credit to Trump. Russia have sponsored him for years, he was even impeached for it, to make America weak. The problem for Russia is that even without the USA, the rest of Nato could beat Russian forces, but now the sleeping giants of Europe have been woken, Russia will not stand a chance. Trump is achieving Russia's goal of a massively weakened the USA, trouble is, there is no chance the people of the USA will stand for it, so by the time they wake up, they will have to safe guard their constitution and become another world player, and NATO will not allow them back in without those safeguards in place.

Hi StarBright

Without checking, I would bet the yield was a similar number of points above the base rate then as it is currently..

The last bit says it all

Net cash generation is £278,724m down from £405,510m the previous year.

Certainly there is no excuse for management fees to have increased by 20%, when cash generation is down by 30%.

Other than that the ship seems steady, but IMO the SP will not be adjusting upwards dramatically any time soon.

Whilst the SP will be cheap the new buyback can be sold to the market as increasing NAV per share etc but it also means they need £100m worth of sales to enable their buyback to happen which does not bring confidence for any sort of significant growth in the SP, but then I am not particularly supportive of buybacks in general.

My strategy will be the average down when possible this year whilst the yield is so good, re-invest the DIVs and wait for the wind to pick up.

To speed up green energy projects.

https://www.reuters.com/business/energy/uk-presents-plans-subsidy-reform-speed-up-green-energy-projects-2025-02-21/#:~:text=The%20UK%20last%20year%20awarded,the%20domestic%20renewable%20energy%20industry.

"The government, as a temporary measure, also wants to remove the ability of generators with existing CfDs to enter surrendered capacity from previous allocations rounds into AR7."

Much uncertainty. Anyone have an explanation ?

From a wider angle I can't see that altering subsidies in any way for existing projects would help new projects, and also surely raising capital from shareholders by issues is easier when the shares are higher as an incentive. We'll see.

There must be many investors large and retail ready to buy in to UKW whilst so cheap.

"A lot UK investors are putting their money in US, European, Asia, but not the UK"

Which is exactly why there are bargains to be had here. The wind is down, but not forever, the random-ness of weather makes that a certainty. Good luck to them if they want to put money into shares with PE ratios in the 100s, not me, and certainly not in these times when we have a warmongering moron on the loose in world politics. One crazy move and the markets will exit all the over priced shares first.

Steady ship and the current level of Dividends expected to continue. No surprises, but nice to see the gearings going slightly down. Would be good to see the NAV stabilise. IMO we're still over sold.

Recent wind has been lower but this may kick up with a seasonal jet stream.

@Gerry557 It must be because lefties after trying to un-flatten the Earth.

"Have you noticed how the weather and climate seem to be getting worse as we build more windmills, are they interfering with it all?"

Was it worth it ?

For me no, a buyback is simply a way that allows sellers to sell at the current price, this time to the tune of £100m !

Surely there are better ways to spend that cash like on debt or new projects than provide UKW share sellers with an always hungry buyer. Let's hope this signifies that those sellers are gone now and a normal market can resume, and decide if a yield of 8.7% is good or not.

Our raw materials : The weather/sunshine. Resource is practically infinite compared to our current use.

Fossil fuel industry... Constant billions spent on exploration/drilling/spill damage for an ever depleting resource, then more countless billions spent on processing/plants resulting in constant destruction to our weather systems.

Perfugalator. Your comment is the one that's stupid.

Of course It's a valid question to ask other investors in a discussion forum. It's what these are for.

SSE used to be a solid % yield, now the market has priced it to 1500, which will either be the base, and with it a 4.5% yield from which the SP can rise as the new projects slowly come on line, or does the market demand 5% in which case to the 1300s the SP will go, and obviously, I'd rather buy back in in the 1300s than 1500s. I top sliced then sold in the 1800s and 1900s in recent years and have been waiting for the SP to come back down after the dividend lowered.

Hi Morbox, that RNS was titled "Improved trading driven by industry developments" so should we be getting a 'regulatory trading update' soon. If so the rise in SP suggests good news, and sentiment delayed from the Jan 6th RNS as figures could back up that statement.