If you had bought around the covid low, you could have taken out your stake and re-invested in another high yielder. Where safety first was the best policy.
Since the NAV peak a constant decline, although they paid out a special dividend of 5.1% of NAV.
The company is winding down so as they sell assets the dividend will fall, current dividend 15% of the reduced share price.
Depending on how long and for how much the assets are sold for the Snowball will print a loss.
BB comment
chucko1
By the paltry volume having gone through so far (most being mine), it seems that no one gives a damn anymore.
They ought to – those repayments are equal to about 1/3 of the shrivelled market cap. When you get that amount back at flat to NAV and the SP is at a 50% discount, there would have been quite a few buyers had it not been for the revulsion many must feel about this sorry episode.
But we are only a part of the way through. It’s like a movie where most of the murders occur in the opening scenes, while the consequences of these murders are explored as the main focal point thereafter.
Still a risky proposition given the concentrated nature of the portfolio, with DEINDE being roughly 80% of the value of the market cap.
As said, at this level, 1p dividends (if adequately earned from income – they just about are) equates to 15% yield. That’s not irrelevant although hardly lavish compensation for the trials one has to bear in owning/[analysing ? – ha ha this thing.
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