Been thinking about DSN's now 35% holding in RE's main asset; irrespective of RE's own performance, I think DSN provides upside here. I looked through their (extremely detailed) annual accounts, and almost all their assets are 99/100% owned, with the exception of a mere handful, the lowest holding of which is 66%. They are also very profitable, suggesting they won't accept average performance in this holding, and taking full/majority control is obviously their plan.
Thanks both - I've updated. Based on a 79p ask price I calculate the 9p/0.79 to be 11.4% and 7p at 8.9% so a tasty 20.3% 2024 treat!... if paid! (and if not, then the 20.3% rolls into 2025 and becomes a 29.2% dividend treat in 12-24 months time - so the key question here is not "if paid in 2024" but if profitability can ever recover)
Been thinking about DSN's now 35% holding in RE's main asset; irrespective of RE's own performance, I think DSN provides upside here. I looked through their (extremely detailed) annual accounts, and almost all their assets are 99/100% owned, with the exception of a mere handful, the lowest holding of which is 66%. They are also very profitable, suggesting they won't accept average performance in this holding, and taking full/majority control is obviously their plan.
11.5p announced for pref shares today (RNS on the main RE. Listing)
11.5p announced for pref shares today (RNS on the main RE. Listing)
I only glanced briefly, but is the dividend not 9% on a £1 pref so nearly a 12% yield?
Yes. Agreed, should be 9p and therefore even higher yield...if paid!
Thanks both - I've updated. Based on a 79p ask price I calculate the 9p/0.79 to be 11.4% and 7p at 8.9% so a tasty 20.3% 2024 treat!... if paid! (and if not, then the 20.3% rolls into 2025 and becomes a 29.2% dividend treat in 12-24 months time - so the key question here is not "if paid in 2024" but if profitability can ever recover)
Interesting to see that the main share has treaded water, whilst the Prefs have appreciated 20% since you wrote this.