The resultant position in my top-up table is now:
Top-up Income Cost
Rank EPIC Rank EPIC % Income Rank Epic % Cost
1 WMH 1 TW. 5.85% 1 MARS 4.96%
2 IMB 2 SSE 4.75% 2 LLOY 4.49%
3 SSE 3 MARS 4.62% 3 WMH 4.30%
4 VOD 4 BT.A 4.40% 4 GSK 4.23%
5 BLND 5 IMB 4.32% 5 BT.A 4.20%
6 BT.A 6 AV. 4.31% 6 AV. 4.20%
7 KGF 7 RDSB 4.10% 7 SSE 4.18%
8 TW. 8 BATS 3.96% 8 MKS 4.08%
9 BA. 9 BP. 3.75% 9 PSON 3.86%
10 SMDS 10 ADM 3.73% 10 RDSB 3.86%
11 NG. 11 WMH 3.63% 11 BATS 3.43%
12 AV. 12 GSK 3.63% 12 BHP 3.41%
As is well known, I disqualify any share which, if topped up by 20% , would take its share of either income or cost over 5%. BT.A now enters that range, but RDSB drops out of it. VOD is currently next in line, notwithstanding its reduced dividend. If I ignore VOD, then BLND is next, followed by KGF.
I see that the yield on MKS Rights at 185p, assuming that the next interim is reduced to 4.1p, in line with the reduction in final, is just over 6%, which is acceptable.
My portfolio currently looks like this:
Value
Rank EPIC Weight % Median
1 DGE 3.84% 131.8%
2 SGRO 3.74% 128.2%
3 RDSB 3.73% 127.9%
4 CPG 3.67% 125.9%
5 GSK 3.63% 124.5%
6 MARS 3.49% 119.8%
7 BP. 3.44% 118.0%
8 RIO 3.27% 112.1%
9 ULVR 3.20% 109.8%
10 UU. 3.17% 108.9%
11 ADM 3.16% 108.3%
12 TW. 3.14% 107.7%
13 AV. 3.10% 106.5%
14 LGEN 3.09% 106.0%
15 BATS 3.01% 103.4%
16 BT.A 2.99% 102.4%
17 TATE 2.97% 101.9%
18 AZN 2.91% 100.0%
19 BHP 2.74% 94.0%
20 NG. 2.74% 94.0%
21 S32 2.72% 93.4%
22 MKS 2.67% 91.4%
23 LLOY 2.65% 90.8%
24 SSE 2.64% 90.4%
25 PSON 2.59% 88.7%
26 IMB 2.48% 85.0%
27 BLND 2.36% 80.9%
28 RB. 2.35% 80.7%
29 VOD 2.24% 77.0%
30 WMH 2.17% 74.6%
31 IMI 2.15% 73.8%
32 BA. 2.12% 72.6%
33 SMDS 2.09% 71.6%
34 KGF 2.00% 68.6%
35 TSCO 1.75% 60.1%
TJH