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Start topping up again...but what?

Practical discussions about equity High-Yield Portfolios (HYP) for income
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monabri
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Re: Start topping up again...but what?

#215636

Postby monabri » April 17th, 2019, 12:28 pm

figwold wrote:Just looking at Schroders (SRDC) on Hargreaves Lansdown now. It quotes a yield of 1.45%.

Am I missing something?


It's "having a wobble"! The quoted yield is incorrect.

figwold
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Re: Start topping up again...but what?

#215640

Postby figwold » April 17th, 2019, 12:38 pm

Thanks Monabri

Checking the reported 2018 dividends on HL suggests 4.7%, which is more like it

spiderbill
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Re: Start topping up again...but what?

#215691

Postby spiderbill » April 17th, 2019, 3:44 pm

SDRC seems to be a share where the online data sources fail rather a lot.
Sharecast (formerly Digital Look) never seem to have forecast figures for yield or cover. Investorease never have ex-div and div payment dates, while ADVFN list the last dividend as April 2008!!

Why this is is a mystery, but there do seem to be a few others that they just can't seem to get the figures right on.

Arborbridge
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Re: Start topping up again...but what?

#215721

Postby Arborbridge » April 17th, 2019, 6:06 pm

spiderbill wrote:SDRC seems to be a share where the online data sources fail rather a lot.
Sharecast (formerly Digital Look) never seem to have forecast figures for yield or cover. Investorease never have ex-div and div payment dates, while ADVFN list the last dividend as April 2008!!

Why this is is a mystery, but there do seem to be a few others that they just can't seem to get the figures right on.


Oddly. my experience is the reverse, in the sense that sharecast never ever had SRDC forecasts, but has done more recently.
There's a forecast showing now, and HYPTUSS updated this morning.

PinkDalek
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Re: Start topping up again...but what?

#215733

Postby PinkDalek » April 17th, 2019, 7:02 pm

Arborbridge wrote:Oddly. my experience is the reverse, in the sense that sharecast never ever had SRDC forecasts, but has done more recently.
There's a forecast showing now, and HYPTUSS updated this morning.


Schroders (Non-Voting) (SDRC)

I can only find a forecast showing N/A https://www.sharecast.com/equity/Schroders_Non-Voting. Should I be looking somewhere else (other than HYPTUSS where I've never been)?

monabri
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Re: Start topping up again...but what?

#215736

Postby monabri » April 17th, 2019, 7:09 pm

Following your link PD I can see a reported yield of 4.5% listed under " Key Fundamentals ". .....( barely visible as there is an annoying 45 second pop up advert).

Edit for 2017
Sorry tried to delete this post but not allowed.

The sharecast website is.not.very.good.
Last edited by monabri on April 17th, 2019, 7:13 pm, edited 1 time in total.

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Re: Start topping up again...but what?

#215737

Postby Haoma » April 17th, 2019, 7:11 pm

FWIW I have been using Morningstar for SDRC data:

https://www.morningstar.com/stocks/XLON/SDRC/quote.html

Seems reasonable!

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Re: Start topping up again...but what?

#215740

Postby Arborbridge » April 17th, 2019, 7:22 pm

PinkDalek wrote:
Arborbridge wrote:Oddly. my experience is the reverse, in the sense that sharecast never ever had SRDC forecasts, but has done more recently.
There's a forecast showing now, and HYPTUSS updated this morning.


Schroders (Non-Voting) (SDRC)

I can only find a forecast showing N/A https://www.sharecast.com/equity/Schroders_Non-Voting. Should I be looking somewhere else (other than HYPTUSS where I've never been)?


Actually, you are correct in that it is not at present showing a forecast, only a historic yield. It was previously, so I'm confused too!

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Re: Start topping up again...but what?

#215744

Postby monabri » April 17th, 2019, 7:28 pm

The HL yield reported yield seems to be based on the interim divi only! Best to look at the table of " recent dividends" (and then to check for any "bad news" RNS reports!)

PinkDalek
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Re: Start topping up again...but what?

#215747

Postby PinkDalek » April 17th, 2019, 7:55 pm

Schroders (Non-Voting) (SDRC)

monabri wrote:The HL yield reported yield seems to be based on the interim divi only! Best to look at the table of " recent dividends" ...


https://www.hl.co.uk/shares/shares-sear ... rd-1-share

They only include the interim to calculate the yield until the final is paid (thus the Dividend Yield showing of 1.47% and despite what the box says about being based on the last reported annual dividend but their * Dividend has not yet been paid but has been declared by Schroders plc. gives a hint).

Hardly sensible and somewhat pointless. As you suggest, best to calculate oneself.

Gengulphus
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Re: Start topping up again...but what?

#215833

Postby Gengulphus » April 18th, 2019, 8:11 am

spiderbill wrote:SDRC seems to be a share where the online data sources fail rather a lot.
Sharecast (formerly Digital Look) never seem to have forecast figures for yield or cover. Investorease never have ex-div and div payment dates, while ADVFN list the last dividend as April 2008!!

Why this is is a mystery, but there do seem to be a few others that they just can't seem to get the figures right on.

I don't think there's any real mystery about it. Schroders is a company with two classes of share (SDR and SDRC) that pay identical dividends, so one declaration by the company (or one analyst forecast) covers both classes' dividends. Such companies are pretty rare - the only other HYP example I've come across is Royal Dutch Shell, with its RDSA and RDSB shares. Royal Dutch Shell is a prominent enough company that the data providers seem to have been persuaded (I'd guess by the number of error reports they received from users) to present the same dividend data about both (*) but I definitely remember a shortage of RDSB forecasts and other data on various sites and needing to look up RDSA in its place for a number of years after the Shell reunification. And I do have another example in my smallcaps portfolio: Dewhurst with voting (DWHT) and non-voting (DWHA) shares. It shows exactly the same pattern as Schroders: the voting share pages (https://www.sharecast.com/equity/Dewhurst and https://www.sharecast.com/equity/Schroders) show the dividend forecasts, the non-voting share pages (https://www.sharecast.com/equity/Dewhurst_Non-Voting and https://www.sharecast.com/equity/Schroders_Non-Voting) don't.

So it looks pretty clear to me that the data providers' systems don't by default cater for the possibility that one item of input dividend data can affect multiple types of traded shares. The data providers are capable of putting some sort of special measures in place to deal with specific cases, but they do that on a one-off basis - the systems don't have general "data for ticker XXX is also data for ticker YYY" functionality (loose description - it would actually need to be more carefully defined than that, because e.g. share price data isn't the same for SDR and SDRC). And only sufficiently prominent cases get that special one-off treatment, whatever it may be - special-case code written into the system's software, standing instructions to data entry staff, or something else I haven't thought of offhand.

(*) Well, almost - I do notice that https://www.sharecast.com/equity/Royal_Dutch_Shell_A and https://www.sharecast.com/equity/Royal_Dutch_Shell_B are currently showing 1- and 2-year forecasts of 143.54p and 144.35p for RDSA and 143.49p and 144.33p for RDSB...

Gengulphus

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Re: Start topping up again...but what?

#215846

Postby funduffer » April 18th, 2019, 9:03 am

Thanks for all the comments, and interesting to see the huge rabbit-holes the thread went down on yield definition and what quality means!

Anyway, perhaps to draw this thread to a close (since I started it!), I have topped up the following:

Imperial Brands (IMB) - an additional 2,5% of portfolio value (6% in total, 134% of median)
WPP (WPP) - an additional 1.6% of portfolio value (4.7% in total, 105% of median)

I will leave SLA/SDRC for another day maybe.

All sector limits preserved, checks all passed (cover, free cash flow, shorting).

All ship-shape and Bristol-fashion.

The rest went into my IT portfolio.

Back to sleep now. Goodnight!

FD

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Re: Start topping up again...but what?

#216263

Postby funduffer » April 19th, 2019, 8:05 pm

If anyone is still reading this thread, I just noticed I paid stamp duty on my IMB top-up, but not on the WPP one.

Can anyone enlighten me?

Not complaining, just puzzled.

FD

Itsallaguess
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Re: Start topping up again...but what?

#216266

Postby Itsallaguess » April 19th, 2019, 8:32 pm

funduffer wrote:
If anyone is still reading this thread, I just noticed I paid stamp duty on my IMB top-up, but not on the WPP one.

Can anyone enlighten me?

Not complaining, just puzzled.


I think the WPP holding company is registered in Jersey, and as such no stamp duty would normally payable when purchasing those shares.

Cheers,

Itsallaguess


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