QuotedData’s morning briefing 15 May 2020

In QuotedData’s morning briefing 15 May 2020

  • Having collected 100% of rents due at the end of March, Triple Point Social Housing REIT has raised its dividend target for the year ended 31 December 2020 to 5.18p, 1.7p up on the figure for 2019. It has also appointed Stifel Nicolaus Europe Limited as sole corporate broker and joint financial adviser, alongside Akur Capital.
  • EJF Investments is considering an issue of zero dividend preference shares.
  • Better Capital 2012 says that some of the assets and operations of portfolio company Spicers-OfficeTeam Group have been sold. This increases the chances of it recovering some or all of the £7.6m it has lent the business but it confirmed that its equity stake is worthless.
  • GCP Infrastructure has announced a scrip share reference price of 109.48p per share.
  • Schroder Income Growth has announced interim results for the six months ended 29 February 2020. During the period, SCF’s NAV total return was -4.9%, which it says compares against -5.5% from the FTSE All-Share Index. The outperformance was driven by stock selection. The portfolio benefited from significant increases in dividends from a range of holdings, including miner BHP, Portuguese oil producer Galp, Tesco, leisure company Hollywood Bowl and alternative asset manager Intermediate Capital. Offsetting this were partial sales of some of the higher-yielding holdings, including Royal Dutch Shell, Micro Focus and HSBC, and from selling the holdings in Vodafone, Centrica and Halfords.

We also have stories on TRIG’s acquistion of the Merkur wind farm in Germany (including commentary on other portfolio developments), confirmation of Strategic Equity Capital’s move to Gresham House (effective 21 May), as well as annual results from Scottish Mortgage (an effective shelter from the storm of covid-19) and Aberdeen Asian Income (which benefited from exposure to tech and Chinese consumption).

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