HFEL dividend declaration

[daveh]

https://www.investegate.co.uk/announcem ... on/7586757

HERSON FAR EAST INCOME LIMITED

3rd Interim dividend for the year ending 31 August 2023

The directors have declared a third interim dividend of 6.10p per ordinary share in respect of the year ending 31 August 2023. The dividend will be paid on 25 August 2023 to shareholders on the register on 28 July 2023 (the record date). The shares will be quoted ex-dividend on 27 July 2023.

(It's their typo in the headline of the quote)

[88V8]

https://www.investegate.co.uk/announcement/rns/henderson-far-east-income-ltd---hfel/dividend-declaration/7586757
The directors have declared a third interim dividend of 6.10p

Last year = 6.0p.
An increase of 1.7%.
Huh.

V8

[monabri]

https://www.investegate.co.uk/announcement/rns/henderson-far-east-income-ltd---hfel/dividend-declaration/7586757

HERSON FAR EAST INCOME LIMITED

3rd Interim dividend for the year ending 31 August 2023

The directors have declared a third interim dividend of 6.10p per ordinary share in respect of the year ending 31 August 2023. The dividend will be paid on 25 August 2023 to shareholders on the register on 28 July 2023 (the record date). The shares will be quoted ex-dividend on 27 July 2023.

(It's their typo in the headline of the quote)

That spelling mistake doesn't exactly me with confidence!

[moorfield]

Last year = 6.0p.
An increase of 1.7%.
Huh.

It's not a dividend cut, unlike several of my HYPish dogs over that last few years. That'll do.

[Gerry557]

Whilst the dividend does increase regularly it seems the share price falls in unison. It's almost like it's eating itself.

I can't say its done well for me but maybe in years to come I'll get my investment back in one of those dividends even if the shares are only worth a penny.

Maybe it a timing issue on my part

[Dod101]

Last year = 6.0p.
An increase of 1.7%.
Huh.

It's not a dividend cut, unlike several of my HYPish dogs over that last few years. That'll do.

You are less demanding than I am. A derisory increase of 1.7% in an era where inflation is 8.7% and a share price that seems to be constantly in retreat, and 'that'll do'?

I can lose money myself, thank you. Gave up on it a long time ago.

Dod

[moorfield]

A derisory increase of 1.7% in an era where inflation is 8.7% and a share price that seems to be constantly in retreat, and 'that'll do'?

Compared to many so called FTSE HYP Shares, yes it will.

CPG
SSE
IMB
RDSB
VOD
DLG

Do you want me to go on Dod? I'm here all day.

[daveh]

A derisory increase of 1.7% in an era where inflation is 8.7% and a share price that seems to be constantly in retreat, and 'that'll do'?

Compared to many so called FTSE HYP Shares, yes it will.

CPG
SSE
IMB
RDSB
VOD
DLG

Do you want me to go on Dod? I'm here all day.

CPG don't own and never have
SSE Cost 4.9 squids dividend received 13.6 squids capital gain 12.9 squids - what's not to like?
IMB don't own and never have
SHEL cost 8.7 squids dividends received 8.0 squids capital gain 4.3 squids - not bad
VOD cost 7.7 squids dividend received 7. 1 squids capital loss 2.0 squids - not so good
DLG don't own and never have

So of those you mention 2 out of 3 have actually done OK or very well and only one seems to be paying the income out of capital

[Dod101]

A derisory increase of 1.7% in an era where inflation is 8.7% and a share price that seems to be constantly in retreat, and 'that'll do'?

Compared to many so called FTSE HYP Shares, yes it will.

CPG
SSE
IMB
RDSB
VOD
DLG


Do you want me to go on Dod? I'm here all day.

I do not recognise CPG or DLG although the latter is probably Direct Line. I hold only SSE IMB and SHEL (you may like to note that RDSB has not been used for some time) Although IMB has not been doing too well on the capital front the other tow are fine.

Dod

[scotia]

Whilst the dividend does increase regularly it seems the share price falls in unison. It's almost like it's eating itself.

Indeed it does. Looking at the total returns on the Hargreaves Lansdown Site, we have negative total returns over 1, 3 and 5 years for HFEL

[Dod101]

Whilst the dividend does increase regularly it seems the share price falls in unison. It's almost like it's eating itself.

Indeed it does. Looking at the total returns on the Hargreaves Lansdown Site, we have negative total returns over 1, 3 and 5 years for HFEL

I long ago gave up on HFEL for that reason and with such a poor dividend increase that is why I picked up on the comment 'that'll do'. Is moorfield looking for negative returns or has the god of income trounced the total return metric? I am not picking an argument but I am truly puzzled.

Dod

[Gerry557]

I read that thay said shareholders liked the dividend and it's increases.

I don't think they asked about the total return.

At first I thought I bought in too high but it seems it doesn't matter the price.

[moorfield]

Indeed it does. Looking at the total returns on the Hargreaves Lansdown Site, we have negative total returns over 1, 3 and 5 years for HFEL

I long ago gave up on HFEL for that reason and with such a poor dividend increase that is why I picked up on the comment 'that'll do'. Is moorfield looking for negative returns or has the god of income trounced the total return metric? I am not picking an argument but I am truly puzzled.

Dod

HFEL delivers income, and has done for several years - the clue is in the name of the instrument. Those who wanted or expected "total return" are in the wrong pub, clearly. Perhaps I have been lucky in that I started buying HFEL at £2.50, rather than £3.50?

No one here has yet been able to argue by picking apart its financial statements, as far as I am aware, why HFEL cannot continue to do that. The floor is open to you scotia and Dod101...

Context, as ever, is important. HFEL is one of a spread of investment trusts I have bought into replacing lower yield FTSE HYP shares, into a portfolio which is already delivering on my personal objective - a natural yield income exceeding the higher rate income tax threshold. I am (only just) 50, and that income continues to be reinvested, not necessarily into HFEL. Shall we reconvene here in 7-10 years time?

[scotia]

HFEL delivers income, and has done for several years - the clue is in the name of the instrument. Those who wanted or expected "total return" are in the wrong pub, clearly.

I think you are misunderstanding my comment on HFEL. In my view it is unimportant whether you obtain a return as income or as growth. BUT the important part is that overall you get more back than you put in. I.E. I expect the total return (achieved in any manner) to be positive. OK - there may be bad years and better years - but with HFEL on 1, 3 and 5 year periods the return has been negative - which is what I pointed out, without making further comment.
To expand my comment, I could have added that there are other ITs in the same geographical area with "income" in their title which have shown significantly better performance. E.G. SOI (Schroder Oriental Income) and JAGI (JP Morgan Asia Growth and Income).

[Dod101]

I long ago gave up on HFEL for that reason and with such a poor dividend increase that is why I picked up on the comment 'that'll do'. Is moorfield looking for negative returns or has the god of income trounced the total return metric? I am not picking an argument but I am truly puzzled.

Dod

HFEL delivers income, and has done for several years - the clue is in the name of the instrument. Those who wanted or expected "total return" are in the wrong pub, clearly. Perhaps I have been lucky in that I started buying HFEL at £2.50, rather than £3.50?

No one here has yet been able to argue by picking apart its financial statements, as far as I am aware, why HFEL cannot continue to do that. The floor is open to you scotia and Dod101...

Context, as ever, is important. HFEL is one of a spread of investment trusts I have bought into replacing lower yield FTSE HYP shares, into a portfolio which is already delivering on my personal objective - a natural yield income exceeding the higher rate income tax threshold. I am (only just) 50, and that income continues to be reinvested, not necessarily into HFEL. Shall we reconvene here in 7-10 years time?

You might as well have started with say £50,000 in a deposit account paying say 1% interest (as you might well have done until recently) but decided that you need an income of say 8%, so make up the difference by drawing down capital. After 5 years that investment will not look very clever. However your income account will look great. That way is the way to penury and why I always try to get at least some capital growth as well as a decent (but usually not excessive) income. You are only 50 and so presumably have time to build up income.

Without the likes of HFEL I have more income than I spend and with a relatively modest yield across the portfolio of about 4.5% (no doubt a bit more now after the recent falls in capital value) it has held up well for some years. By the end of June, my income for this year is up just under 10%, more or less keeping pace with inflation, helped I may say by shares like Shell and HSBC.

I have never much like the investment house of Henderson and I do not think that combining with Janus has helped it much. HFEL obviously appeals to some otherwise I think it is a candidate for one of those mergers that we are seeing in the IT world. It is a small trust and seems unable to make a meaningful contribution to the sphere of trusts in which it operates. I doubt that t would be missed.

Dod

[monabri]

From the HFEL factsheet
https://www.hl.co.uk/shares/shares-sear ... td-ord-npv

"We are confident about the outlook for dividends considering the excess cash being generated"

At what point will this "excess cash" translate to a better than a 1.5% increase in dividend?

I hold HFEL but I'm beginning to wonder if all I'm doing is buying someone else a yacht?

Total Return is all that matters - I can cut out the middleman and pay myself my own money...

[88V8]

I long ago gave up on HFEL for that reason and with such a poor dividend increase that is why I picked up on the comment 'that'll do'. Is moorfield looking for negative returns or has the god of income trounced the total return metric? I am not picking an argument but I am truly puzzled.

HFEL delivers income, and has done for several years - the clue is in the name of the instrument. Those who wanted or expected "total return" are in the wrong pub, clearly. Perhaps I have been lucky in that I started buying HFEL at £2.50, rather than £3.50?

Yes, as in most investments, timing matters.

As a rule I disregard TR, but each time I open my portfolio it is painfully apparent that this Investment Tyrannosaurus has been chomping my capital and pooing it out as taxable dividends
Once again, huh,

V8

[Gerry557]

I'm just glad I'm still a great investor but unfortunately have lousy timing

Still if I wait long enough.......

[monabri]

https://www.investegate.co.uk/announcem ... on/7820343

4th Interim dividend for the year ended 31 August 2023

The directors have declared the fourth interim dividend of 6.10p per ordinary share in respect of the year ended 31 August 2023. The dividend will be paid on 24 November 2023 to shareholders on the register on 27 October 2023 (the record date). The shares will be quoted ex-dividend on 26 October 2023.

[moorfield]

https://www.investegate.co.uk/announcement/rns/henderson-far-east-income-ltd---hfel/dividend-declaration/7820343

4th Interim dividend for the year ended 31 August 2023

The directors have declared the fourth interim dividend of 6.10p per ordinary share in respect of the year ended 31 August 2023. The dividend will be paid on 24 November 2023 to shareholders on the register on 27 October 2023 (the record date). The shares will be quoted ex-dividend on 26 October 2023.

That's 24.2p for the year, following 21.6, 22.4, 23.0, 23.4, 23.8p in previous years. 11.3% yield.