SSE (SSE)

[Dod101]

Thanks Ian. No surprises there. Better enjoy this year's Final Dividend !

Dod

You're welcome Dod.

Further to the above, from Dividenddata;

Dividend 67.7p ps, ex div 27 Jul 23, paid on 11 Sep 23.

https://www.dividenddata.co.uk/dividend ... y?epic=SSE

I struggled to find this info in the SSE announcement itself to be honest.

I bought my SSE shares when COVID19 hit us all, and have done well with them since on a capital returns basis, and the current good dividend too of course too. But the lowering of the dividend in the future will stop me buying any more SSE, but I'm happy to continue holding my SSE shares.

Ian.

This is not the HYP Board so I can freely say that I think that if you want to have some exposure to the consequences in energy as a result of the climate initiatives, then holding SSE is surely a good way to do that. I am happy to hold.

Dod

[daveh]

Investor Timetable



2023 Annual Report published on sse.com/reportsandresults 16 June 2023

2023 Sustainability Report published on sse.com/reportsandresults 16 June 2023

2023 Annual Report published on sse.com/reportsandresults 16 June 2023

Q1 Trading Statement 20 July 2023

Annual General Meeting 20 July 2023

Ex-dividend date 27 July 2023

Record date 28 July 2023

Scrip reference pricing days 27 July - 2 August 2023

Scrip reference price confirmed and released via RNS 3 August 2023

Final day for receipt of scrip elections 24 August 2023

Final dividend payment date 21 September 2023

Notification of Closed Period 4 October 2023

Interim Results for the six months ended 30 September 2023 15 November 2023

[idpickering]

This is not the HYP Board so I can freely say that I think that if you want to have some exposure to the consequences in energy as a result of the climate initiatives, then holding SSE is surely a good way to do that. I am happy to hold.

Dod

Indeed on all counts Dod thank you.

I like the fact that SSE are getting more into renewables. In fact, our power up here in Orkney is provided by SSE Renewables. I hold other shares in that sector as you know, solar funds/wind power etc.

The results have been well received it seems, with the SSE sp being up 1.5% as I type.

Thanks to Dave h for the above too.

Ian.

[MDW1954]

Moderator Message:
Gents, as you know, this is the Company News board. We're here to share and discuss company news, rather than what is and isn't in our own portfolios. Just a gentle reminder... --MDW1954

[Dod101]

Moderator Message:
Gents, as you know, this is the Company News board. We're here to share and discuss company news, rather than what is and isn't in our own portfolios. Just a gentle reminder... --MDW1954

I will of course say nothing.

Dod

[EthicsGradient]

Thanks Ian. No surprises there. Better enjoy this year's Final Dividend !

Dod

You're welcome Dod.

Further to the above, from Dividenddata;

Dividend 67.7p ps, ex div 27 Jul 23, paid on 11 Sep 23.

https://www.dividenddata.co.uk/dividend ... y?epic=SSE

I struggled to find this info in the SSE announcement itself to be honest.

I bought my SSE shares when COVID19 hit us all, and have done well with them since on a capital returns basis, and the current good dividend too of course too. But the lowering of the dividend in the future will stop me buying any more SSE, but I'm happy to continue holding my SSE shares.

Ian.

It's 21 Sep, not the 11th. That info is in the announcement (date under "Investor Timetable"), but it is currently what they're recommending (AGM on 20th July) rather than a guarantee, so it seems reasonable to not make it too prominent.

URL hopefully without the "..." - https://www.dividenddata.co.uk/ex-divid ... chTerm=SSE

[idpickering]

Moderator Message:
Gents, as you know, this is the Company News board. We're here to share and discuss company news, rather than what is and isn't in our own portfolios. Just a gentle reminder... --MDW1954

Message received Malcolm. Thanks for your input.

Ian.

[idpickering]

SSE announces its timetable in relation to the final dividend of 67.7 pence per ordinary share for the year ending 31 March 2023.

Ex dividend 27 Jul 23, paid 21 Sep 23.

https://www.investegate.co.uk/announcement/7545385

Ian.

[idpickering]

Q1 Trading Statement.

á Reaffirming FY24 adjusted earnings per share guidance of more than 150p

á Dry and still weather conditions in Q1 led to a shortfall over the period equivalent to 5% of annual planned renewables output

á Key milestones achieved on major projects, supporting delivery of the Group's growth-focused NZAP Plus investment plan

This Trading Statement updates the market on SSE's financial outlook since publication of the Group's Preliminary Full-year Results statement on 24 May 2023 and provides operational performance data ahead of today's SSE plc Annual General Meeting.

TRADING UPDATE

Renewables performance in Q1 was lower than planned, reflecting dry and still weather patterns well below the long-term average, equating to a 5% shortfall on planned renewables output for the year. However, the key months in SSE's financial year are still to come and the first few weeks of Q2 have so far seen a return to more normal weather.

SSE therefore continues to expect to report full-year 2023/24 adjusted earnings per share of more than 150p, on the basis of a return to more normalised weather, and plant performance and market conditions continuing in line with expectations.

PROGRESS AGAINST STRATEGY

Good progress has been made in delivery of SSE's £18bn Net Zero Acceleration Programme (NZAP) Plus investment plans, with the following key milestones achieved on major projects:

á The 114th and final Vestas turbine was installed at Seagreen offshore wind farm in June, and around 90 of the turbines are now commissioned.

á Construction at Viking onshore wind farm remains on track, with more than half of the Vestas turbines now installed.

á First power from Dogger Bank A offshore wind farm is expected in the coming weeks, following connection of the first of the GE Renewables Haliade-X turbines.

á A Joint Venture was signed with National Grid to deliver the Eastern Green Link 2 (EGL2) project, a 2GW HVDC subsea transmission cable from Peterhead to Drax.

á The Shetland HVDC project is currently on schedule ahead of energisation over the summer 2024, and Ofgem has provided Final Needs Case approval for the subsea transmission link to Orkney.

Gregor Alexander, Finance Director, said:

"SSE is a long-term business with a clear strategy, and we remain focused on delivering the ambitious NZAP Plus growth plan that we announced in May.

"We are making good progress on the critical national infrastructure projects that underpin our growth plans out to 2027, and we continue to develop options that could see us invest up to £40bn over the next decade.

"We are seizing the long-term opportunities presented by net zero while in the near term, subject to normal weather and plant availability, our outlook for the full-year remains unchanged."

https://www.investegate.co.uk/announcem ... t-/7643470

Ian (I hold).

[idpickering]

Result of AGM.

The Annual General Meeting of SSE plc took place in Perth today. All 22 Resolutions, as set out in the Notice of Annual General Meeting, were passed by shareholders on a poll. The following table shows the votes cast on each resolution:

https://www.investegate.co.uk/announcem ... gm/7645537

Ian.

[csearle]

As SSE's good fortunes seem to be linked with "bad" weather a hedge might be a company whose are linked with "good" weather. Something in the domestic holiday field maybe!

[idpickering]

As SSE's good fortunes seem to be linked with "bad" weather a hedge might be a company whose are linked with "good" weather. Something in the domestic holiday field maybe!

Thanks for your input Chris. For me I like to think I'm hedging my bets by owning three solar income funds, but discussing them is off topic here of course.

Ian.

[Dod101]

As SSE's good fortunes seem to be linked with "bad" weather a hedge might be a company whose are linked with "good" weather. Something in the domestic holiday field maybe!

I think this item is blown (or not of course) out of all proportion. A 5% drop in planned renewables output is easily made up over the course of their financial year but in any case this is a well known risk with wind turbines and if it is affecting them how much more will it be affecting companies like UK Wind where wind output is their only business. SSE has a built in hedge with all its other electricity generators.

Dod

[Dod101]

Has anyone got any idea why SSE's share price dropped by nearly 6% yesterday? Now at just over £17 that is the lowest share price since March in the midst of all the inflation etc concerns.

Dod

[Itsallaguess]

Has anyone got any idea why SSE's share price dropped by nearly 6% yesterday?

Now at just over £17 that is the lowest share price since March in the midst of all the inflation etc concerns.

It went ex-dividend yesterday Dod -



Source - https://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=sse

That no doubt accounts for most of any share price drop, although as stated in the above details, the final dividend itself only accounted for less than 4% of the previous closing share price.

Cheers,

Itsallaguess

[Dod101]

Has anyone got any idea why SSE's share price dropped by nearly 6% yesterday?

Now at just over £17 that is the lowest share price since March in the midst of all the inflation etc concerns.

It went ex-dividend yesterday Dod -



Source - https://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=sse

That no doubt accounts for most of any share price drop, although as stated in the above details, the final dividend itself only accounted for less than 4% of the previous closing share price.

Cheers,

Itsallaguess

Thanks I had forgotten that but of course the drop was nearly 100p against the dividend of a mere 67.7p. I guess that is the answer but it looks as if the market was looking for an excuse to mark it down. It should on that basis recover fairly quickly. Thanks.

Dod

[Dod101]

the drop in the SSE share price continued yesterday so there is something more afoot then simply the ex div date. The price is now £16.73. Maybe invstors are suddenly realising that the dividend is going to be cut or they worry that the debt is too high or simply that their investment programme pushes real benefits into the future. Or maybe as simple as the cost of electricity they generate has fallen.

Dod

[BullDog]

the drop in the SSE share price continued yesterday so there is something more afoot then simply the ex div date. The price is now £16.73. Maybe invstors are suddenly realising that the dividend is going to be cut or they worry that the debt is too high or simply that their investment programme pushes real benefits into the future. Or maybe as simple as the cost of electricity they generate has fallen.

Dod

I suspect it's the former. Glad I sold out a while ago.

[idpickering]

SSE Issues New Sustainability Framework.

SSE, the leading electricity infrastructure company, has published an updated Sustainability Financing Framework (the "Framework"), that represents the next step of maturity in SSE's approach to sustainable financing and will help deliver its ambitious net zero-focused growth strategy.

SSE is already one of the largest issuers of Green Bonds in the UK having raised £2.5bn since 2017.

The new Framework merges SSE's Green Bond and Sustainability-Linked Bond frameworks and the aim of this new Framework is to facilitate transparency through high quality disclosure in SSE's Green and Sustainability-Linked financing for interested stakeholders. To achieve this, SSE has aligned the Framework to the following key external frameworks and standards:

https://www.investegate.co.uk/announcem ... rk/7712805

Ian.

[idpickering]

Publication of Prospectus.

SSE plc, Scottish Hydro Electric Power Distribution plc, Scottish Hydro Electric Transmission plc, Southern Electric Power Distribution plc - Publication of Prospectus

The following has been approved by the Financial Conduct Authority and is available for viewing:

Prospectus dated 24 August 2023 (the Prospectus) relating to the SSE plc, Scottish Hydro Electric Power Distribution plc, Scottish Hydro Electric Transmission plc and Southern Electric Power Distribution plc €10,000,000,000 Euro Medium Term Note Programme.

https://www.investegate.co.uk/announcem ... us/7718128

Ian.