Investing in UK penny stocks can be risky business. But there are plenty of cheap shares, like these ones, I think are some of the best stocks to buy today.
Managers expect strong performance from Claverhouse’s British stocks
Credit: Jim Dyson /Getty Images
Reserves that could be used to support the trust’s dividend during the pandemic were behind our decision a year ago to add JP Morgan Claverhouse to our Income Portfolio at the expense of Invesco Income Growth. Its annual report, published last month, gave us an update on the state of those reserves.
The trust said that, following payment of the fourth quarterly dividend, its reserves would amount to £15.8m or 27.1p per share. This compared with £19.6m or 34.4p a share in 2019.
The total dividend for 2020 was 29.5p, up from 29p, as we have reported previously. So the current reserves would be enough to pay 92pc of the next annual dividend if it was left unchanged.
NOTES: Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) listed on the premium segment of the Main Market of the London Stock Exchange with the objective of delivering secure inflation linked returns by investing in affordable shared ownership, retirement and Local Authority housing throughout the UK. ReSI targets a secure, long-dated, inflation-linked dividend of 5.0 pence per share p.a. (paid quarterly) and a total return in excess of 8.0% per annum. Including recent committed acquisitions, ReSI s portfolio 3,060 properties, with an (unaudited) IFRS fair value of £345m. ReSI aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (Housing Associations, Local Authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial new affordable housing.