Today, BP PLC, the UK Oil Major pays out this March 2023 dividend.
$0.0661 = 5.5507p a share
https://www.londonstockexchange.com/news-article/BP./total-voting-rights/15857972
The total number of voting rights in BP p.l.c. is 17,991,766,214
Thus:-
17,991,766,214 x £0.055507 = £998,668,967.240498
£998million paid to shareholders.
https://www.londonstockexchange.com/stock/BP./bp-plc/company-page
The Harmony Energy Income Trust is a London listed investment trust.
Managed by Harmony Energy.
Interesting to see who its largest shareholders are.
Today, it pays out its March dividend of 2p a share.
The Company holds no shares in treasury and the total voting rights in the Company are 227,128,295.
https://www.londonstockexchange.com/news-article/HEIT/total-voting-rights/15818536
Thus:-
227,128,295 x £0.02 = £4,542,565.9
That is £4.545 Million paid to shareholders.
https://www.londonstockexchange.com/stock/HEIT/harmony-energy-income-trust-plc/company-page
Today, Shell PLC (Royal Dutch Shell) pays out its March 2023 quarterly dividend.
$0.2875 (24.11p) a share
https://www.londonstockexchange.com/news-article/SHEL/voting-rights-and-capital/15818538
Shell plc’s capital as at January 31, 2023, consists of 6,970,489,092 ordinary shares of €0.07 each. Shell plc holds no shares in Treasury.
Thus:-
6,970,489,092 x £0.2411 = £1,680,584,920.0812
That is £1.680 Billion paid to shareholders in Shell PLC
https://www.londonstockexchange.com/stock/SHEL/shell-plc/company-page
Tomorrow, JLEN plc (JLEN Environmental Assets Group) pays out its quarterly dividend.
1.78p a share.
JLEN is an environmental infrastructure investment fund which aims to provide shareholders with a sustainable, progressive dividend, paid quarterly and to preserve the capital value of its portfolio on a real basis over the long term through the reinvestment of cash flows not required for the payment of dividends.
https://www.londonstockexchange.com/news-article/JLEN/total-voting-rights/15346670
Company has 661,531,229 Ordinary Shares in issue
Thus:-
661,531,229 x £0.0178 = 11,775,255.8762
That is £11.775 million paid to shareholders.
https://www.londonstockexchange.com/stock/JLEN/jlen-environmental-assets-group-limited/company-page
The Ashoka Equity Investment Trust PLC is a London listed investment trust, focussed on the Indian equity market.
The investment strategy is to achieve long-term capital appreciation, mainly through investment in securities listed in India and listed securities of companies with a significant presence in India
Total net assets: £209.93 million.
Investment Manager: Acorn Asset Management Ltd
Investment Advisor: White Oak Capital Partners Pte. Ltd. (Singapore)
HM UK Government Borrowings: Feb 2023
Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. [www.dmo.gov.uk]
https://dmo.gov.uk/data/pdfdatareport?reportCode=D2.1PROF7
Another deficit month, thus to bridge the gap, needs to borrow on the bond market in Feb 2023, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-
22-Feb-2023 1½% Green Gilt 2053 2,000.0000
21-Feb-2023 0½% Treasury Gilt 2029 3,500.0000
14-Feb-2023 3¼% Treasury Gilt 2033 3,000.0000
08-Feb-2023 1 1/8% Treasury Gilt 2039 2,000.0000
07-Feb-2023 4 1/8% Treasury Gilt 2027 3,500.0000
01-Feb-2023 0 7/8% Green Gilt 2033 3,000.0000
£2,000.0000 Million + £3,500.0000 Million + £3,000.0000 Million + £2,000.0000 Million + £3,500.0000 Million + £3,000.0000 Million = £17,000 Million
£17,000 Million = £17.000 Billion
On another way of looking at it, is in the 28 days in Feb 2023, HM Government borrowed:- £607.14285714285714285714285714286 Million each day for the 28 days.
We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2029 to 2053. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“
Today U2 release The Songs of Surrender.
U2 > News > New Collector’s Edition Vinyl & Cassette
This release is an investment, its value is Even Better Than The Real Thing:-
(171) U2 – Even Better Than The Real Thing (Official Music Video) – YouTube
Federal Reserve Board – Recent balance sheet trends
The graph above, shows the end of Quantitive Easing. The US Central Bank is unwinding its position from buying US-Treasuries, (T-Bonds issued by the US Treasury) and selling them to Bond Investors (Fixed Income buyers), such as pension funds and insurance companies. The current assets on the balance sheet are valued at “only” $8.342 Trillion dollar$.
Global stock markets are under pressure with the collapse and rescue of Silicon Valley Bank.
Silicon Valley Bank: Shares fall as fears persist about failed US bank – BBC News
What is interesting, is to see the response from the US Federal Reserve. One thing for sure, is that Silicon Valley Bank, had a huge portolio of US T-Bonds (US Treasuries), and with rising interest rates, the value of these bonds has fallen in value, giving problems to bank, and is exactly what the UK saw with the disastrous mini-budget of Liz Truss and Kwasi Kwateng, that had a huge detrimental effect to UK pension funds, that owned UK Government Bonds (Gilts)
With rising interest rates, a bond that were historically issued paying an interest rate (coupon) of say 0.75%, was worth $100 at issue, could be worth $77 on the open market, when newer bonds issued are paying say 1.9%. So with this drop of 23% ($100 – $77 = $23 loss), the US Federal Reserve is offering to buy that bond trading at $77 for “par” = $100. The Fed is effectively buying the bonds at the issue value = face value. The lender of last resort is the buyer of last resort = The US Fed.
So not a tax payer bailout, but a rescue from the US Federal Reserve, who effectively is using its balance sheet to buy these assets trading at “inflated prices” using its mighty balance sheet (A balance sheet of over $8 Trillion) to theoretically buying an asset that trades today at $77 for $100. “In Fed…We Trust” The Fed’s actions have been very decisive, to ensure smooth market functioning and stability in the financial markets.
Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors :
“To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy.
The Federal Reserve is prepared to address any liquidity pressures that may arise.
The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution’s need to quickly sell those securities in times of stress.
With approval of the Treasury Secretary, the Department of the Treasury will make available up to $25 billion from the Exchange Stabilization Fund as a backstop for the BTFP. The Federal Reserve does not anticipate that it will be necessary to draw on these backstop funds.
After receiving a recommendation from the boards of the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, Treasury Secretary Yellen, after consultation with the President, approved actions to enable the FDIC to complete its resolutions of Silicon Valley Bank and Signature Bank in a manner that fully protects all depositors, both insured and uninsured. These actions will reduce stress across the financial system, support financial stability and minimize any impact on businesses, households, taxpayers, and the broader economy.
The Board is carefully monitoring developments in financial markets. The capital and liquidity positions of the U.S. banking system are strong and the U.S. financial system is resilient.
Depository institutions may obtain liquidity against a wide range of collateral through the discount window, which remains open and available. In addition, the discount window will apply the same margins used for the securities eligible for the BTFP, further increasing lendable value at the window.
The Board is closely monitoring conditions across the financial system and is prepared to use its full range of tools to support households and businesses, and will take additional steps as appropriate.”
The SDCL Energy Efficiency Income Trust PLC
The SDCL Energy Efficiency Income Trust PLC is a London listed investment trust, investing in and dedicated to investments in energy efficiency projects.
Energy efficiency involves the delivery of cheaper, cleaner and more reliable energy solutions at the point of use, reducing or eliminating reliance on the grid or subsidies. This can be achieved for commercial, industrial and public buildings through on-site energy generation, such as combined heat and power units and roof-top solar installations, or through energy demand reduction measures, such as efficient lighting, heating and cooling solutions and also through effective use of energy storage solutions. A substantial and rapidly growing marketplace has emerged for energy efficiency solutions, providing SEEIT with an attractive growth sector in which to invest.
M&G Investments hold 11% of the stock.
https://www.londonstockexchange.com/news-article/SEIT/holding-s-in-company/15851806
A yield of……
https://www.londonstockexchange.com/stock/SEIT/sdcl-energy-efficiency-income-trust-plc/fundamentals
4.91%
https://www.londonstockexchange.com/stock/SEIT/sdcl-energy-efficiency-income-trust-plc/company-page
Yesterday, the financial giant Legal and General PLC, the UK’s largest investor, announced its annual results.
L&G Full Year Results 2022 Part 1 – 07:00:03 08 Mar 2023 – LGEN News article | London Stock Exchange
LEGAL & GENERAL GROUP PLC LGEN Stock | London Stock Exchange
The investment strategy of the BMO Global Smaller Companies Trust PLC is to secure a high total return by investing in smaller companies world.
https://www.columbiathreadneedle.co.uk/the-global-smaller-companies-trust-plc/
It is one of the largest specialist global smaller companies investment trusts. Greater inherent growth potential in smaller companies. Strong
dedicated small company investment team. The dividend has risen in each of the last 52 years.
Top 10 holdings (%) % of net assets Sector
Eastspring Investments Japan Smaller Companies Fund 4.0% of the fund Collective investments
Aberdeen Standard SICAV I Japanese Smaller Companies Sustainable Equity Fund 3.2% of the fund Collective investments
Pinebridge Asia ex Japan Small Cap Fund 3.0% of the fund Collective investments
The Scottish Oriental Smaller Companies Trust 3.0% of the fund Collective investments
Utilico Emerging Markets Trust 2.1% of the fund Collective investments
Schroder ISF Global Emerging Markets Smaller Companies Fund 2.1% of the fund Collective investments
Eagle Materials 1.8% of the fund Industrials
LKQ 1.7% of the fund Consumer Discretion
The Ensign Group 1.4% of the fund Healthcare
Kirby 1.4% of the fund Industrials
https://www.londonstockexchange.com/stock/GSCT/the-global-smaller-companies-trust-plc/company-page
The abrdn China Investment Company is a London listed investment trust. Its investment objective To produce long-term capital growth by investing predominantly in Chinese equities.
Top 20 holdings.
Tencent Holdings 7.0% of the fund
Kweichow Moutai 4.9% of the fund
Meituan 4.2% of the fund
China Merchants Bank 3.9% of the fund
Alibaba Group Holding 3.5% of the fund
Contemporary Amperex Technology 3.2% of the fund
Bank of Ningbo 3.1% of the fund
JD.com 3.0% of the fund
China Tourism Group Duty Free 2.7% of the fund
AIA Group 2.6% of the fund
Ping An Bank 2.6% of the fund
Glodon 2.2% of the fund
Proya Cosmetics 2.2% of the fund
Wanhua Chemical 2.2% of the fund
Longi Green Energy Technology 2.0% of the fund
Shenzhen Mindray Bio-Medical 2.0% of the fund
Sungrow Power Supply 1.9% of the fund
Nari Technology 1.7% of the fund
Yunnan Energy New Material 1.7% of the fund
Cash 3.8% of the fund
Total 60.3 % of the fund
Total number of investments 57
https://www.londonstockexchange.com/stock/ACIC/abrdn-china-investment-company-limited/analysis
