I’ve bought for the blog portfolio 9952 shares in FSFL
for 9k.
Increase from low 7.4%
Yield 7.8%
Discount to NAV 23.4%
Cash for re-investment £1,275.00
Month: March 2024 (Page 19 of 19)
I’ve sold the portfolio shares in JLEN for a profit of £325.00
including the dividend earned but not received.
JLEN is up 20% from it’s low, so I’m going to switch into a
similar Trust that has not risen as far.
Total profit for JLEN £1,152.00
The NAV decreased in aggregate by £2.1 million to £65.7 million, equivalent to 81.62pps as of 31 December 2023. The decrease was primarily due to the £1.9 million (1.9%) reduction in the fair value of the investment properties which were impacted by the upward yield movement seen across the wider UK real estate sector, driven primarily by increases in interest rates and inflation during the year.
· Dividends declared in respect of the Period totalled 2.85pps, a 3.6% increase compared to half year ended 31 December 2022 and in line with the Board’s target annual dividend of at least 5.9pps A, which is expected to be fully covered. Dividends in respect of the Period were covered 103.9% by earnings.
· Dividend yield B of 8.3% is unchanged when compared to the prior Period reflecting the increase of both the dividend and the share price.
· The Company’s share price of 71.5p at the Period end represents a 10.5% increase during the Period, reflecting the substantial narrowing of the Company’s discount (to NAV) from 23.1% to 12.4%.
· EPS amounted to a profit of 0.80pps for the Period. The increase is largely due to a £7.9 million improvement in the fair value of the investment properties.
· The Group’s loan matures in October 2025 and is fixed at a weighted average interest cost of 3.19%. Loan to GAV of 37.5% and interest cover ratio of 571% gives significant headroom on the lender’s loan to value covenant of 60% and an interest cover covenant of 250%.
A This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company’s expected or actual results.
Foresight Solar Fund Limited
(“Foresight Solar” or “the Company”)
Declaration of Dividend
Foresight Solar is pleased to announce the fourth interim dividend, for the period 1 September 2023 to 31 December 2023, of 1.895 pence per ordinary share. The shares will go ex-dividend on 25 April 2024 and the payment will be made on 24 May 2024 to shareholders on the register as at the close of business on 25 April 2024.
This fourth interim dividend completes Foresight Solar’s dividend target of 7.550 pence per ordinary share for the 2023 financial year.