QuotedData’s morning briefing 18 August 2020

In QuotedData’s morning briefing 18 August 2020:

  • Acorn Income declared a third interim dividend of 5.75p – in line with previous quarters – but its revenue reserves are running down as it uses these to top up income lost to dividend cuts by companies in its portfolio. Revenue reserves at 30 June were 14.6p, having been 21.6p on 31 December 2019. “The directors believe that 5.75p per share is a reasonable target for the fourth interim dividend that will be paid in December; however shareholders should note that the actual dividend will be set in the light of income earned over the remainder of the year as well as the outlook for 2021 and beyond.”
  • Dunedin Enterprise should receive £6.9m as a new investor injects growth capital into Hawksford (a leading provider of corporate, private client and fund services). The trust will retain a 5% stake in the company. The cash is equivalent to the value at 30 June 2020, and so the value of the retained stake will represent an uplift in the value of the trust (although we don’t know what that is).
  • JLEN Environmental Assets has announced a further 3.5p fall in its NAV (to 94p) as weaker power prices take their toll on valuations of renewable assets. Generation for the quarter ended 30 June was slightly above budget (good solar offset by weaker wind). The dividend is 1.69p, in line with forecasts.

We also have results from Aberdeen New India and Diverse Income 

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