KFL has an interesting strategy for the computation of dividend, paying 2% of NAV each quarter regardless of whether a rising or falling market/NAV. You are right the current quarterly dividend (yet to be paid, but cum div if you buy on or before 7 September ) is 3.52cps. I believe the highest quarterly dividend ever paid in the past has been 3.60cps, and the last reported NAV would support an even higher payout than that in the next quarter, if maintained.
It is sort of self-adjusting, because paying the dividend itself reduces the then current NAV.
KFL has an interesting strategy for the computation of dividend, paying 2% of NAV each quarter regardless of whether a rising or falling market/NAV. You are right the current quarterly dividend (yet to be paid, but cum div if you buy on or before 7 September ) is 3.52cps. I believe the highest quarterly dividend ever paid in the past has been 3.60cps, and the last reported NAV would support an even higher payout than that in the next quarter, if maintained.
It is sort of self-adjusting, because paying the dividend itself reduces the then current NAV.
Most likely it will keep rising till 8th Sept ....210 coming soon
12 the Nov Ex date ....2.03 minus expected 14 cents divvy = 1.89 likely exercise price on 18th Nov 2022 ...
Overall its a very attractive offer and should have keen interest
Used to be rich pickings, (I got a bit fat on a size of some of the feeds) when these warrants within the overall Kingfish group started trading but sadly these days it seems people are far more aggressive with growth assumptions and if the most recent Marlin warrant listing is anything to yardstick against these warrants will start trading well above their intrinsic value.
I will run my dog food sniffer nose over them looking for a feed a little closer to listing date but I am not going to hold my breath.
Shares currently trading circa 10% above NTA and very easy to replicate their modestly diversified portfolio so that's pretty boring too.
Last edited by Beagle; 18-10-2021 at 05:23 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Bookmarks