PYAD HYP 2019_04 REINVEST – Year Six Progress

IanTHughes · #663381

Year Six: Dividend Re-Investment – due on 10 May 2024 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

Dividend Re-Investment Decision – 08 May 2024

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 1,857.0000  |   23,825.31  |     7.15% |  -2,296.20  |      0.00  |     8,280.28  |   5,984.08  |        7.91% |    1,883.70 
BATS | British American Tobacco  |    299  |  8,359.04  | 2,395.9970  |    7,164.04  |     2.15% |  -1,195.00  |      0.00  |     2,618.33  |   1,423.33  |        9.83% |      704.20 
WPP  | WPP                       |  1,780  | 14,997.55  |   829.6000  |   14,766.88  |     4.43% |    -230.67  |      0.00  |     3,018.88  |   2,788.21  |        4.75% |      701.32 
ITV  | ITV                       | 11,652  | 14,999.08  |    72.8650  |    8,490.23  |     2.55% |  -6,508.85  |    384.51  |     2,097.33  |  -4,027.01  |        6.86% |      582.60 
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   720.6000  |   17,474.55  |     5.24% |   2,476.28  |      0.00  |     2,708.69  |   5,184.97  |        4.45% |      777.30 
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   773.0000  |   21,350.26  |     6.41% |   6,350.94  |      0.00  |     6,065.29  |  12,416.23  |        5.89% |    1,256.71 
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   153.3000  |   12,191.95  |     3.66% |  -7,446.14  |      0.00  |     5,833.37  |  -1,612.77  |        9.52% |    1,161.13 
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   205.1000  |    9,674.57  |     2.90% |      96.45  |    622.64  |     1,694.08  |   2,413.17  |        9.61% |      929.24 
AV   | Aviva                     |  3,663  | 14,970.64  |   483.5000  |   17,710.62  |     5.31% |   2,739.98  |    816.84  |     5,060.47  |   8,617.29  |        6.91% |    1,223.44 
PHNX | Phoenix Grp Holdings      |  1,193  |  5,724.44  |   510.3400  |    6,088.36  |     1.83% |     363.92  |    317.93  |         0.00  |     681.85  |       10.32% |      628.11 
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   183.5070  |   16,299.08  |     4.89% |  -4,417.50  |    355.28  |       356.51  |  -3,705.71  |        2.18% |      355.28 
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,771.0000  |   13,317.92  |     4.00% |   1,331.18  |      0.00  |     3,155.30  |   4,486.48  |        3.39% |      451.20 
HLN  | Haleon PLC                |    941  |  2,723.59  |   330.9000  |    3,113.77  |     0.93% |     390.18  |     39.52  |        39.51  |     469.21  |        1.81% |       56.46 
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,389.0000  |   42,267.27  |    12.68% |  27,272.07  |    562.95  |     3,764.14  |  31,599.16  |        2.16% |      912.89 
SMDS | DS Smith                  |  4,310  | 14,997.11  |   358.8380  |   15,465.92  |     4.64% |     468.81  |      0.00  |     2,900.63  |   3,369.44  |        5.02% |      775.80 
IBST | Ibstock                   |  5,849  | 14,999.47  |   151.2160  |    8,844.62  |     2.65% |  -6,154.85  |      0.00  |     1,813.15  |  -4,341.70  |        4.63% |      409.43 
LAND | Land Securities Grp       |    818  |  7,499.19  |   692.0000  |    5,660.56  |     1.70% |  -1,838.63  |      0.00  |     1,349.25  |    -489.38  |        5.71% |      323.11 
BLND | British Land Company      |  1,273  |  7,494.24  |   418.8000  |    5,331.32  |     1.60% |  -2,162.92  |      0.00  |     1,215.33  |    -947.59  |        5.54% |      295.33 
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,277.0000  |   19,081.26  |     5.73% |   4,088.75  |      0.00  |     6,410.89  |  10,499.64  |        5.35% |    1,020.72 
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,525.0000  |    9,558.25  |     2.87% |    -274.82  |      0.00  |     2,296.21  |   2,021.39  |        6.18% |      590.69 
SHEL | Shell                     |    457  |  9,626.22  | 2,894.5250  |   13,227.98  |     3.97% |   3,601.76  |      0.00  |     1,842.87  |   5,444.63  |        3.81% |      503.91 
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,458.0000  |   10,745.46  |     3.22% |  -2,218.29  |      0.00  |     1,043.23  |  -1,175.06  |        7.69% |      826.82 
BP   | BP                        |  1,347  |  7,496.10  |   493.4500  |    6,646.77  |     1.99% |    -849.33  |      0.00  |     1,493.43  |     644.10  |        4.72% |      313.88 
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    67.1800  |    6,769.73  |     2.03% |  -8,228.75  |      0.00  |     3,892.64  |  -4,336.11  |       11.48% |      776.87 
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,038.5000  |    3,987.84  |     1.20% | -10,991.95  |      0.00  |       610.18  | -10,381.77  |        0.00% |        0.00 
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   707.5000  |    9,310.70  |     2.79% |  -1,359.89  |      0.00  |     2,547.85  |   1,187.96  |        6.51% |      605.88 
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Sub Total:                |         |            |             | £328,365.22  |    98.53% | -£6,993.47  | £3,099.67  |               |             |        5.50% |  £18,066.02 
     | Cash Balance:             |         |            |             |   £1,793.64  |     0.54% |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £3,099.67  |     0.93% |             |            |               |             |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Current Value:            |         |            |             | £333,258.53  |           |             |            |               |             |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             
     | Dividends Rec'd:          |         |            |             |  £73,068.62  |           |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £3,099.67  |           |             |            |               |             |              |             
     | Realised P/L:             | [2]     |            |             |   £9,178.94  |           |             |            |               |             |              |             
     | UnRealised P/L:           |         |            |             |  -£6,993.47  |           |             |            |               |             |              |             
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |             
     | Total:                    |         |            |             | £333,258.53  |   5.35%   |             |            |               |             |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£) 
Weapons            | 14,995.20  |  42,267.27  |      12.68% |  27,272.07  |      562.95  |       3,764.14  |    31,599.16  |        2.16% |        912.89 
Tobacco            | 34,480.55  |  30,989.35  |       9.30% |  -3,491.20  |        0.00  |      10,898.61  |     7,407.41  |        8.35% |      2,587.90 
Oil                | 30,086.07  |  30,620.21  |       9.19% |     534.14  |        0.00  |       4,379.53  |     4,913.67  |        5.37% |      1,644.61 
Mining             | 24,825.58  |  28,639.51  |       8.59% |   3,813.93  |        0.00  |       8,707.10  |    12,521.03  |        5.63% |      1,611.41 
Insurance: Life    | 20,695.08  |  23,798.98  |       7.14% |   3,103.90  |    1,134.77  |       5,060.47  |     9,299.14  |        7.78% |      1,851.55 
Fund Manager       | 29,216.21  |  21,866.52  |       6.56% |  -7,349.69  |      622.64  |       7,527.45  |       800.40  |        9.56% |      2,090.37 
Gambling           | 14,999.32  |  21,350.26  |       6.41% |   6,350.94  |        0.00  |       6,065.29  |    12,416.23  |        5.89% |      1,256.71 
Banks              | 14,998.27  |  17,474.55  |       5.24% |   2,476.28  |        0.00  |       2,708.69  |     5,184.97  |        4.45% |        777.30 
Insurance: NonLife | 20,716.58  |  16,299.08  |       4.89% |  -4,417.50  |      355.28  |         356.51  |    -3,705.71  |        2.18% |        355.28 
Packaging          | 14,997.11  |  15,465.92  |       4.64% |     468.81  |        0.00  |       2,900.63  |     3,369.44  |        5.02% |        775.80 
Advertising        | 14,997.55  |  14,766.88  |       4.43% |    -230.67  |        0.00  |       3,018.88  |     2,788.21  |        4.75% |        701.32 
Pharma             | 11,986.74  |  13,317.92  |       4.00% |   1,331.18  |        0.00  |       3,155.30  |     4,486.48  |        3.39% |        451.20 
Real Estate IT     | 14,993.43  |  10,991.88  |       3.30% |  -4,001.55  |        0.00  |       2,564.58  |    -1,436.97  |        5.63% |        618.44 
Utility: Water     | 10,670.59  |   9,310.70  |       2.79% |  -1,359.89  |        0.00  |       2,547.85  |     1,187.96  |        6.51% |        605.88 
Bricks             | 14,999.47  |   8,844.62  |       2.65% |  -6,154.85  |        0.00  |       1,813.15  |    -4,341.70  |        4.63% |        409.43 
Television         | 14,999.08  |   8,490.23  |       2.55% |  -6,508.85  |      384.51  |       2,097.33  |    -4,027.01  |        6.86% |        582.60 
Telecom: Mobile    | 14,998.48  |   6,769.73  |       2.03% |  -8,228.75  |        0.00  |       3,892.64  |    -4,336.11  |       11.48% |        776.87 
Cruising           | 14,979.79  |   3,987.84  |       1.20% | -10,991.95  |        0.00  |         610.18  |   -10,381.77  |        0.00% |          0.00 
Medical Products   |  2,723.59  |   3,113.77  |       0.93% |     390.18  |       39.52  |          39.51  |       469.21  |        1.81% |         56.46

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                      | Real P&L (£) | Comment                                                                     
20-Sep-19 | IBST | Ibstock                   |      292.45  | Return of Capital                                                           
09-Oct-19 | GNK  | Greene King               |    4,188.29  | Sale – Pending Takeover                                                     
16-Jul-21 | PNN  | Pennon Group              |    1,676.05  | Return of Capital - Share Consolidation                                     
21-Sep-21 | BHP  | BHP Group                 |      550.49  | Return of Capital                                                           
16-May-22 | AV   | Aviva                     |      173.70  | Return of Capital - Share Consolidation                                     
01-Jun-22 | BHP  | BHP Group                 |    2,565.55  | Return of Capital - Woodside Energy Group (WDS) shares                      
19-Jul-22 | GSK  | GSK PLC                   |     -275.74  | Return of Capital - Haleon PLC (HLN) shares - Share Consolidation           
19-Jul-22 | WDS  | Woodside Energy Group Ltd |        8.15  | Return of Capital - Woodside Energy Group (WDS) shares - Share Consolidation
          |      |                           |              |                                                                             
          |      | Total                     |   £9,178.94  |

Dividend Re-Investment: 11 September 2023

As at the close of business on Thursday 09 May 2024, the amount available for re-investment will be £2,416.28. This amount will be used to invest in one holding on Friday 10 May 2024.

Candidates

I am not one to place a limit on the yield being purchased. HYP is an income strategy so forget any idea of limiting the yield to twice the number you first thought of after stepping off the scales this morning. I am looking for the “Highest Sustainable Yield”.

To this end, the following candidates were considered:

EPIC | Company                  | Reward (%) | Decision | Comments                                    
VOD  | Vodafone Grp             |     11.48% | Possible | Resultant Sector Value Concentration (2.75%)
PHNX | Phoenix Grp Holdings     |     10.32% | Possible | Resultant Sector Value Concentration (7.85%)
BATS | British American Tobacco |      9.87% | Possible | Resultant Sector Value Concentration (9.99%)
MNG  | M & G PLC                |      9.61% | Possible | Resultant Sector Value Concentration (7.27%)
ABDN | Abrdn PLC                |      9.52% | Possible | Resultant Sector Value Concentration (7.27%)
IMB  | Imperial Brands          |      7.91% | Possible | Resultant Sector Value Concentration (9.99%)

Decision

1. Vodafone Grp (VOD) – Yield 11.48%

VOD will be releasing the full year results for the year ended 31 Mar 2024 on next Monday, 14 May 2024.

As I mentioned before:

My suspicion is, and it is only a suspicion, the management are going to concentrate on doing whatever is necessary to restore value to the company shares. I am not convinced that a dividend cut will be a part of that, but it cannot be ruled out. I would however be surprised if there were to be an increase in dividend, while this “action plan” is ongoing.

So, in spite of continuing cash generation, VOD is again to be passed over, at least until those final results provide further information.

2. Phoenix Grp Holdings (PHNX) – Yield 10.32%

This is a tough one.

On the one hand they are currently throwing off a lot of cash – including a recently increased dividend – but on the other there are those tha caution against a coming earnings drought.

https://finance.yahoo.com/news/phoenix- ... 48276.html

Personally, I am not very good at determining future events, preferring to base my decisions on what is or has been recently happening, together with a review of what the management think.

Phoenix announces strong full year 2023 results and new progressive dividend policy.

"Phoenix's vision is to be the UK's leading retirement savings and income business, and we are making great progress in delivering our strategy to achieve this, as our strong 2023 financial results demonstrate.

We have achieved our 2025 growth target two years early with £1.5bn of new business cash delivered by our Standard Life business - a new record. We delivered over £2bn of cash generation and maintained our resilient balance sheet, and our strong performance has enabled the Board to recommend a 2.5% dividend increase.

The next phase of our strategy will see us balance our investment across our strategic priorities to grow, optimise and enhance our business. This will support us in delivering the ambitious new 2026 targets we are announcing today. Our confidence in this strategy is demonstrated by the new progressive and sustainable dividend policy we will operate going forward."

So, I am going to stick with the management and add some more PHNX to the portfolio.

Incidentally:
3. British American Tobacco (BATS) – Yield 9.87%
and
4. M & G PLC (MNG) – Yield 9.61%
and
5. abdn PLC (ABDN) – Yield 9.52%
and
6. IMB PLC (IMB) – Yield 7.91%

All look pretty good to me, there are a lot of high-yielders around I believe. Famous last words?

I will be having a further quick review tomorrow - 09 May 2024 - but for now …..

Insurance Life – Phoenix Group Holdings (PHNX) – Yield 10.17% - is the decision for this dividend re-investment.

The Sector Value Concentration after purchase (7.85%) will leave the Insurance Life Business Sector holding as number five by that measure, well below the maximum allowed – 10% - but who knows, there may be further purchases to come.

I am not intending to purchase PHNX for any of the “real” portfolios under my control, and therefore the price to be applied for this “virtual” purchase will be the Mid Price reported on the day. I shall post an update when the details of the purchase are known.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian

IanTHughes · #663842

PYAD HYP 2019_04 REINVEST – Year Six: Dividend Re-Investment – 10 May 2024 - Result

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Update 10 May 2024

Dividend Re-Investment Purchase: Transaction Details

The Dividend Re-Investment indicated in the previous post has now been made as follows:

Date      | Business        | EPIC | Shares | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) | Comment                       
10-May-24 | Insurance: Life | PHNX |   463  | 518.7040  | -2,401.60  |   -12.01  |  -1.50  | -2,415.11  |  10.15%   | Routine Dividend Re-Investment

The price achieved is the Mid Price for the day, calculated by halving the sum of the day’s High Price and Low Price.

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 1,868.0000  |   23,966.44  |     7.08% |  -2,155.07  |      0.00  |     8,280.28  |   6,125.21  |        7.86% |    1,883.70 
BATS | British American Tobacco  |    299  |  8,359.04  | 2,433.0000  |    7,274.67  |     2.15% |  -1,084.37  |      0.00  |     2,618.33  |   1,533.96  |        9.68% |      704.20 
WPP  | WPP                       |  1,780  | 14,997.55  |   845.6000  |   15,051.68  |     4.45% |      54.13  |      0.00  |     3,018.88  |   3,073.01  |        4.66% |      701.32 
ITV  | ITV                       | 11,652  | 14,999.08  |    78.3000  |    9,123.52  |     2.69% |  -5,875.56  |    384.51  |     2,097.33  |  -3,393.72  |        6.39% |      582.60 
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   696.0000  |   16,878.00  |     4.98% |   1,879.73  |    599.95  |     2,708.69  |   5,188.37  |        4.59% |      774.13 
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   779.5000  |   21,529.79  |     6.36% |   6,530.47  |      0.00  |     6,065.29  |  12,595.76  |        5.84% |    1,256.71 
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   158.3000  |   12,589.60  |     3.72% |  -7,048.49  |      0.00  |     5,833.37  |  -1,215.12  |        9.22% |    1,161.13 
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   205.5000  |    9,693.45  |     2.86% |     115.33  |      0.00  |     2,316.72  |   2,432.05  |        9.59% |      929.24 
AV   | Aviva                     |  3,663  | 14,970.64  |   490.3000  |   17,959.69  |     5.30% |   2,989.05  |    816.84  |     5,060.47  |   8,866.36  |        6.81% |    1,223.44 
PHNX | Phoenix Grp Holdings      |  1,656  |  8,139.55  |   520.5000  |    8,619.49  |     2.55% |     479.94  |    317.93  |         0.00  |     797.87  |       10.12% |      871.88 
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   198.6000  |   17,639.65  |     5.21% |  -3,076.93  |    355.28  |       356.51  |  -2,365.14  |        2.01% |      355.28 
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,799.5000  |   13,532.24  |     4.00% |   1,545.50  |      0.00  |     3,155.30  |   4,700.80  |        3.33% |      451.20 
HLN  | Haleon PLC                |    941  |  2,723.59  |   327.8000  |    3,084.60  |     0.91% |     361.01  |     39.52  |        39.51  |     440.04  |        1.83% |       56.46 
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,394.0000  |   42,419.42  |    12.53% |  27,424.22  |    562.95  |     3,764.14  |  31,751.31  |        2.15% |      912.89 
SMDS | DS Smith                  |  4,310  | 14,997.11  |   363.0000  |   15,645.30  |     4.62% |     648.19  |      0.00  |     2,900.63  |   3,548.82  |        4.96% |      775.80 
IBST | Ibstock                   |  5,849  | 14,999.47  |   154.4000  |    9,030.86  |     2.67% |  -5,968.61  |    210.56  |     1,813.15  |  -3,944.90  |        4.53% |      409.43 
LAND | Land Securities Grp       |    818  |  7,499.19  |   668.5000  |    5,468.33  |     1.62% |  -2,030.86  |      0.00  |     1,349.25  |    -681.61  |        5.91% |      323.11 
BLND | British Land Company      |  1,273  |  7,494.24  |   407.6000  |    5,188.75  |     1.53% |  -2,305.49  |      0.00  |     1,215.33  |  -1,090.16  |        5.69% |      295.33 
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,297.0000  |   19,248.86  |     5.68% |   4,256.35  |      0.00  |     6,410.89  |  10,667.24  |        5.28% |    1,016.56 
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,605.0000  |    9,696.65  |     2.86% |    -136.42  |      0.00  |     2,296.21  |   2,159.79  |        6.09% |      590.69 
SHEL | Shell                     |    457  |  9,626.22  | 2,946.0000  |   13,463.22  |     3.98% |   3,837.00  |      0.00  |     1,842.87  |   5,679.87  |        3.73% |      501.86 
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,498.0000  |   11,040.26  |     3.26% |  -1,923.49  |      0.00  |     1,043.23  |    -880.26  |        7.46% |      823.46 
BP   | BP                        |  1,347  |  7,496.10  |   506.2000  |    6,818.51  |     2.01% |    -677.59  |      0.00  |     1,493.43  |     815.84  |        4.58% |      312.60 
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    69.4000  |    6,993.44  |     2.07% |  -8,005.04  |      0.00  |     3,892.64  |  -4,112.40  |        8.36% |      584.81 
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,045.0000  |    4,012.80  |     1.19% | -10,966.99  |      0.00  |       610.18  | -10,356.81  |        0.00% |        0.00 
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   713.5000  |    9,389.66  |     2.77% |  -1,280.93  |      0.00  |     2,547.85  |   1,266.92  |        6.45% |      605.88 
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Sub Total:                |         |            |             | £335,358.88  |    99.03% | -£2,414.92  | £3,287.54  |               |             |        5.40% |  £18,103.71 
     | Cash Balance:             |         |            |             |       £1.17  |     0.00% |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £3,287.54  |     0.97% |             |            |               |             |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Current Value:            |         |            |             | £338,647.59  |           |             |            |               |             |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             
     | Dividends Rec'd:          |         |            |             |  £73,691.26  |           |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £3,287.54  |           |             |            |               |             |              |             
     | Realised P/L:             | [2]     |            |             |   £9,178.94  |           |             |            |               |             |              |             
     | UnRealised P/L:           |         |            |             |  -£2,414.92  |           |             |            |               |             |              |             
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |             
     | Total:                    |         |            |             | £338,647.59  |   5.67%   |             |            |               |             |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£) 
Weapons            | 14,995.20  |  42,419.42  |      12.53% |  27,424.22  |      562.95  |       3,764.14  |    31,751.31  |        2.15% |        912.89 
Oil                | 30,086.07  |  31,321.99  |       9.25% |   1,235.92  |        0.00  |       4,379.53  |     5,615.45  |        5.23% |      1,637.92 
Tobacco            | 34,480.55  |  31,241.11  |       9.23% |  -3,239.44  |        0.00  |      10,898.61  |     7,659.17  |        8.28% |      2,587.90 
Mining             | 24,825.58  |  28,945.51  |       8.55% |   4,119.93  |        0.00  |       8,707.10  |    12,827.03  |        5.55% |      1,607.25 
Insurance: Life    | 23,110.19  |  26,579.18  |       7.85% |   3,468.99  |    1,134.77  |       5,060.47  |     9,664.23  |        7.88% |      2,095.32 
Fund Manager       | 29,216.21  |  22,283.05  |       6.58% |  -6,933.16  |        0.00  |       8,150.09  |     1,216.93  |        9.38% |      2,090.37 
Gambling           | 14,999.32  |  21,529.79  |       6.36% |   6,530.47  |        0.00  |       6,065.29  |    12,595.76  |        5.84% |      1,256.71 
Insurance: NonLife | 20,716.58  |  17,639.65  |       5.21% |  -3,076.93  |      355.28  |         356.51  |    -2,365.14  |        2.01% |        355.28 
Banks              | 14,998.27  |  16,878.00  |       4.98% |   1,879.73  |      599.95  |       2,708.69  |     5,188.37  |        4.59% |        774.13 
Packaging          | 14,997.11  |  15,645.30  |       4.62% |     648.19  |        0.00  |       2,900.63  |     3,548.82  |        4.96% |        775.80 
Advertising        | 14,997.55  |  15,051.68  |       4.44% |      54.13  |        0.00  |       3,018.88  |     3,073.01  |        4.66% |        701.32 
Pharma             | 11,986.74  |  13,532.24  |       4.00% |   1,545.50  |        0.00  |       3,155.30  |     4,700.80  |        3.33% |        451.20 
Real Estate IT     | 14,993.43  |  10,657.08  |       3.15% |  -4,336.35  |        0.00  |       2,564.58  |    -1,771.77  |        5.80% |        618.44 
Utility: Water     | 10,670.59  |   9,389.66  |       2.77% |  -1,280.93  |        0.00  |       2,547.85  |     1,266.92  |        6.45% |        605.88 
Television         | 14,999.08  |   9,123.52  |       2.69% |  -5,875.56  |      384.51  |       2,097.33  |    -3,393.72  |        6.39% |        582.60 
Bricks             | 14,999.47  |   9,030.86  |       2.67% |  -5,968.61  |      210.56  |       1,813.15  |    -3,944.90  |        4.53% |        409.43 
Telecom: Mobile    | 14,998.48  |   6,993.44  |       2.07% |  -8,005.04  |        0.00  |       3,892.64  |    -4,112.40  |        8.36% |        584.81 
Cruising           | 14,979.79  |   4,012.80  |       1.18% | -10,966.99  |        0.00  |         610.18  |   -10,356.81  |        0.00% |          0.00 
Medical Products   |  2,723.59  |   3,084.60  |       0.91% |     361.01  |       39.52  |          39.51  |       440.04  |        1.83% |         56.46

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                      | Real P&L (£) |         Comment                                                   
20-Sep-19 | IBST | Ibstock                   |      292.45  | Return of Capital                                                 
09-Oct-19 | GNK  | Greene King               |    4,188.29  | Sale – Pending Takeover                                           
16-Jul-21 | PNN  | Pennon Group              |    1,676.05  | Return of Capital - Share Consolidation                           
21-Sep-21 | BHP  | BHP Group                 |      550.49  | Return of Capital                                                 
16-May-22 | AV   | Aviva                     |      173.70  | Return of Capital - Share Consolidation                           
01-Jun-22 | BHP  | BHP Group                 |    2,565.55  | Return of Capital - Woodside Energy Group (WDS) shares            
19-Jul-22 | GSK  | GSK PLC                   |     -275.74  | Return of Capital - Haleon PLC (HLN) shares - Share Consolidation 
19-Jul-22 | WDS  | Woodside Energy Group Ltd |        8.15  | Return of Capital - Share Consolidation                           
          |      |                           |              |                                                                   
          |      | Total                     |   £9,178.94  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

Date      | Balance   | Re-Invest?
10-Jun-24 | 2,688.76  |    Y         
10-Jul-24 | 1,108.45  |    N         
12-Aug-24 | 2,025.86  |    Y         
10-Sep-24 |   421.12  |    N         
10-Oct-24 | 4,132.75  |    Y          
11-Nov-24 | 2,175.19  |    Y          
10-Dec-24 |   548.02  |    N         
10-Jan-25 | 1,952.85  |    N         
10-Feb-25 | 2,582.43  |    Y         
10-Mar-25 |   374.52  |    N         
10-Apr-25 | 2,262.18  |    Y       
12-May-25 | 2,114.17  |    Y

The next Dividend Re-Investment will therefore be on 10 June 2024 when £2,688.76 is currently forecast to be available for re-investment. At the moment of course, it looks as if the decision will once again be Phoenix Grp Holdings (PHNX).

Of course, there is a month to wait during which much could change. As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Portfolio Value: To Date

As a High Yield Portfolio (HYP) the main aim is to increase the Income being produced, and investments are chosen to further that aim. This income re-investment is done with the assumption that an income drawdown may commence at any time and some semblance of portfolio balance must be maintained.

As a portfolio with the income all being invested rather than drawn down, the resulting Capital Value achieved is still important.

Accordingly the value of the portfolio has been recorded at the end of each quarter as follows:

Year Start | 05 Jul      | 05 Oct      | 05 Jan      | 05 Apr      | Year End 
06-Apr-19  | 259,509.36  | 261,593.22  | 296,020.32  | 197,839.92  | 05-Apr-20
06-Apr-20  | 226,071.10  | 217,987.76  | 250,944.78  | 269,488.45  | 05-Apr-21
06-Apr-21  | 281,107.37  | 271,335.37  | 288,791.35  | 299,408.37  | 05-Apr-22
06-Apr-22  | 271,759.08  | 272,155.05  | 304,883.30  | 296,301.23  | 05-Apr-23
06-Apr-23  | 282,914.89  | 283,322.68  | 312,829.91  | 321,667.49  | 05-Apr-24

Portfolio Value: Comments

I can currently report that Capital Value growth compares very favourably with what might have been achieved with the use of professional managers and Investment Trusts.

A more detailed review of the Capital Value progress will be made at the end of the year.

Other Actions Required

1. - HSBA – HSBC PLC: Special Dividend

I recognise such a payment as a Return of Capital (RoC). The amount to be received, around £400.00, will simply be re-invested along with all other income receipts, on 10 July 2024.

2. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small residue. It is intended that IP will have a secondary listing in London, so this holding will be maintained going forward.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian

IanTHughes · #667934

Year Six: Dividend Re-Investment – due on 10 June 2024 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

Dividend Re-Investment Decision – 07 June 2024

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 1,987.0000  |   25,493.21  |     7.59% |    -628.30  |    288.03  |     8,280.28  |   7,940.01  |        7.48% |    1,905.76 
BATS | British American Tobacco  |    299  |  8,359.04  | 2,437.0000  |    7,286.63  |     2.17% |  -1,072.41  |      0.00  |     2,618.33  |   1,545.92  |        9.66% |      704.20 
WPP  | WPP                       |  1,780  | 14,997.55  |   772.2000  |   13,745.16  |     4.09% |  -1,252.39  |    434.32  |     3,018.88  |   2,200.81  |        5.10% |      701.32 
ITV  | ITV                       | 11,652  | 14,999.08  |    79.0500  |    9,210.91  |     2.74% |  -5,788.17  |      0.00  |     2,481.84  |  -3,306.33  |        6.33% |      582.60 
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   694.6000  |   16,844.05  |     5.01% |   1,845.78  |    590.66  |     2,708.69  |   5,145.13  |        4.52% |      762.15 
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   795.0000  |   21,957.90  |     6.54% |   6,958.58  |      0.00  |     6,065.29  |  13,023.87  |        5.72% |    1,256.71 
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   152.3000  |   12,112.42  |     3.61% |  -7,525.67  |      0.00  |     5,833.37  |  -1,692.30  |        9.59% |    1,161.13 
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   198.3000  |    9,353.81  |     2.78% |    -224.31  |      0.00  |     2,316.72  |   2,092.41  |        9.93% |      929.24 
AV   | Aviva                     |  3,663  | 14,970.64  |   477.9000  |   17,505.48  |     5.21% |   2,534.84  |      0.00  |     5,877.31  |   8,412.15  |        6.99% |    1,223.44 
PHNX | Phoenix Grp Holdings      |  1,656  |  8,139.55  |   491.4000  |    8,137.58  |     2.42% |      -1.97  |      0.00  |       317.93  |     315.96  |       10.71% |      871.88 
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   210.0000  |   18,652.20  |     5.55% |  -2,064.38  |      0.00  |       711.79  |  -1,352.59  |        1.90% |      355.28 
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,629.0000  |   12,250.08  |     3.65% |     263.34  |    112.80  |     3,155.30  |   3,531.44  |        3.68% |      451.20 
HLN  | Haleon PLC                |    941  |  2,723.59  |   330.3000  |    3,108.12  |     0.93% |     384.53  |      0.00  |        79.03  |     463.56  |        1.82% |       56.46 
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,395.0000  |   42,449.85  |    12.63% |  27,454.65  |      0.00  |     4,327.09  |  31,781.74  |        2.15% |      912.89 
SMDS | DS Smith                  |  4,310  | 14,997.11  |   370.4000  |   15,964.24  |     4.75% |     967.13  |      0.00  |     2,900.63  |   3,867.76  |        4.86% |      775.80 
IBST | Ibstock                   |  5,849  | 14,999.47  |   156.8000  |    9,171.23  |     2.73% |  -5,828.24  |      0.00  |     2,023.71  |  -3,804.53  |        4.46% |      409.43 
LAND | Land Securities Grp       |    818  |  7,499.19  |   647.0000  |    5,292.46  |     1.58% |  -2,206.73  |      0.00  |     1,349.25  |    -857.48  |        6.12% |      323.92 
BLND | British Land Company      |  1,273  |  7,494.24  |   429.2000  |    5,463.72  |     1.63% |  -2,030.52  |      0.00  |     1,215.33  |    -815.19  |        5.31% |      290.24 
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,304.0000  |   19,307.52  |     5.75% |   4,315.01  |      0.00  |     6,410.89  |  10,725.90  |        5.18% |    1,000.83 
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,352.0000  |    9,258.96  |     2.76% |    -574.11  |      0.00  |     2,296.21  |   1,722.10  |        6.38% |      590.69 
SHEL | Shell                     |    457  |  9,626.22  | 2,732.5000  |   12,487.53  |     3.72% |   2,861.31  |    123.52  |     1,842.87  |   4,827.70  |        3.96% |      494.09 
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,414.0000  |   10,421.18  |     3.10% |  -2,542.57  |      0.00  |     1,043.23  |  -1,499.34  |        7.78% |      810.71 
BP   | BP                        |  1,347  |  7,496.10  |   462.7000  |    6,232.57  |     1.86% |  -1,263.53  |     76.94  |     1,493.43  |     306.84  |        4.94% |      307.76 
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    71.5200  |    7,207.07  |     2.15% |  -7,791.41  |    386.42  |     3,892.64  |  -3,512.35  |        8.04% |      579.62 
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,179.5000  |    4,529.28  |     1.35% | -10,450.51  |      0.00  |       610.18  |  -9,840.33  |        0.00% |        0.00 
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   596.5000  |    7,849.94  |     2.34% |  -2,820.65  |      0.00  |     2,547.85  |    -272.80  |        7.44% |      583.90 
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Sub Total:                |         |            |             | £331,293.10  |    98.60% | -£6,480.70  | £2,012.69  |               |             |        5.45% |  £18,041.25 
     | Cash Balance:             |         |            |             |   £2,688.76  |     0.80% |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £2,012.69  |     0.60% |             |            |               |             |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Current Value:            |         |            |             | £335,994.55  |           |             |            |               |             |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             
     | Dividends Rec'd:          |         |            |             |  £76,378.85  |           |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £2,012.69  |           |             |            |               |             |              |             
     | Realised P/L:             | [2]     |            |             |   £9,178.94  |           |             |            |               |             |              |             
     | UnRealised P/L:           |         |            |             |  -£6,480.70  |           |             |            |               |             |              |             
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |             
     | Total:                    |         |            |             | £335,994.55  |   5.43%   |             |            |               |             |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£) 
Weapons            | 14,995.20  |  42,449.85  |      12.63% |  27,454.65  |        0.00  |       4,327.09  |    31,781.74  |        2.15% |        912.89 
Tobacco            | 34,480.55  |  32,779.84  |       9.76% |  -1,700.71  |      288.03  |      10,898.61  |     9,485.93  |        7.96% |      2,609.96 
Oil                | 30,086.07  |  29,141.28  |       8.67% |    -944.79  |      200.46  |       4,379.53  |     3,635.20  |        5.53% |      1,612.56 
Mining             | 24,825.58  |  28,566.48  |       8.50% |   3,740.90  |        0.00  |       8,707.10  |    12,448.00  |        5.57% |      1,591.52 
Insurance: Life    | 23,110.19  |  25,643.06  |       7.63% |   2,532.87  |        0.00  |       6,195.24  |     8,728.11  |        8.17% |      2,095.32 
Gambling           | 14,999.32  |  21,957.90  |       6.54% |   6,958.58  |        0.00  |       6,065.29  |    13,023.87  |        5.72% |      1,256.71 
Fund Manager       | 29,216.21  |  21,466.23  |       6.39% |  -7,749.98  |        0.00  |       8,150.09  |       400.11  |        9.74% |      2,090.37 
Insurance: NonLife | 20,716.58  |  18,652.20  |       5.55% |  -2,064.38  |        0.00  |         711.79  |    -1,352.59  |        1.90% |        355.28 
Banks              | 14,998.27  |  16,844.05  |       5.01% |   1,845.78  |      590.66  |       2,708.69  |     5,145.13  |        4.52% |        762.15 
Packaging          | 14,997.11  |  15,964.24  |       4.75% |     967.13  |        0.00  |       2,900.63  |     3,867.76  |        4.86% |        775.80 
Advertising        | 14,997.55  |  13,745.16  |       4.09% |  -1,252.39  |      434.32  |       3,018.88  |     2,200.81  |        5.10% |        701.32 
Pharma             | 11,986.74  |  12,250.08  |       3.65% |     263.34  |      112.80  |       3,155.30  |     3,531.44  |        3.68% |        451.20 
Real Estate IT     | 14,993.43  |  10,756.18  |       3.20% |  -4,237.25  |        0.00  |       2,564.58  |    -1,672.67  |        5.71% |        614.16 
Bricks             | 14,999.47  |   9,171.23  |       2.73% |  -5,828.24  |        0.00  |       2,023.71  |    -3,804.53  |        4.46% |        409.43 
Television         | 14,999.08  |   9,210.91  |       2.74% |  -5,788.17  |        0.00  |       2,481.84  |    -3,306.33  |        6.33% |        582.60 
Utility: Water     | 10,670.59  |   7,849.94  |       2.34% |  -2,820.65  |        0.00  |       2,547.85  |      -272.80  |        7.44% |        583.90 
Telecom: Mobile    | 14,998.48  |   7,207.07  |       2.14% |  -7,791.41  |      386.42  |       3,892.64  |    -3,512.35  |        8.04% |        579.62 
Cruising           | 14,979.79  |   4,529.28  |       1.35% | -10,450.51  |        0.00  |         610.18  |    -9,840.33  |        0.00% |          0.00 
Medical Products   |  2,723.59  |   3,108.12  |       0.93% |     384.53  |        0.00  |          79.03  |       463.56  |        1.82% |         56.46

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                      | Real P&L (£) | Comment                                                                     
20-Sep-19 | IBST | Ibstock                   |      292.45  | Return of Capital                                                           
09-Oct-19 | GNK  | Greene King               |    4,188.29  | Sale – Pending Takeover                                                     
16-Jul-21 | PNN  | Pennon Group              |    1,676.05  | Return of Capital - Share Consolidation                                     
21-Sep-21 | BHP  | BHP Group                 |      550.49  | Return of Capital                                                           
16-May-22 | AV   | Aviva                     |      173.70  | Return of Capital - Share Consolidation                                     
01-Jun-22 | BHP  | BHP Group                 |    2,565.55  | Return of Capital - Woodside Energy Group (WDS) shares                      
19-Jul-22 | GSK  | GSK PLC                   |     -275.74  | Return of Capital - Haleon PLC (HLN) shares - Share Consolidation           
19-Jul-22 | WDS  | Woodside Energy Group Ltd |        8.15  | Return of Capital - Woodside Energy Group (WDS) shares - Share Consolidation
          |      |                           |              |                                                                             
          |      | Total                     |   £9,178.94  |

Dividend Re-Investment: 10 June 2024

As at the close of business on Friday 07 June 2024, the amount available for re-investment is £2,688.76. This amount will be used to invest in one holding on Monday 10 June 2024.

Candidates

I am not one to place a limit on the yield being purchased. HYP is an income strategy so forget any idea of limiting the yield to twice the number you first thought of after stepping off the scales this morning. I am looking for the “Highest Sustainable Yield”.

To this end, the following candidates were considered:

EPIC |        Company           | Reward (%) |   Decision   |                Comments                               
PHNX | Phoenix Grp Holdings     |     10.71% | Possible     | Resultant Sector Value Concentration (8.43%)          
MNG  | M & G PLC                |      9.93% | Possible     | Resultant Sector Value Concentration (7.18%)          
ABDN | Abrdn PLC                |      9.59% | Possible     | Resultant Sector Value Concentration (7.18%)

Decision

Phoenix Grp Holdings (PHNX) – Yield 10.32%

My thinking remains as it was on 10 May 2024 when Dividends were last re-invested in PHNX. As I said then:

On the one hand they are currently throwing off a lot of cash – including a recently increased dividend – but on the other there are those that caution against a coming earnings drought.

https://finance.yahoo.com/news/phoenix- ... 48276.html

Personally, I am not very good at determining future events, preferring to base my decisions on what is or has been recently happening, together with a review of what the management think.

Phoenix announces strong full year 2023 results and new progressive dividend policy.

"Phoenix's vision is to be the UK's leading retirement savings and income business, and we are making great progress in delivering our strategy to achieve this, as our strong 2023 financial results demonstrate.

We have achieved our 2025 growth target two years early with £1.5bn of new business cash delivered by our Standard Life business - a new record. We delivered over £2bn of cash generation and maintained our resilient balance sheet, and our strong performance has enabled the Board to recommend a 2.5% dividend increase.

The next phase of our strategy will see us balance our investment across our strategic priorities to grow, optimise and enhance our business. This will support us in delivering the ambitious new 2026 targets we are announcing today. Our confidence in this strategy is demonstrated by the new progressive and sustainable dividend policy we will operate going forward."

So, I am going to stick with the management and add some more PHNX to the portfolio.

Same again!

Incidentally:
M & G PLC (MNG) – Yield 9.93%
and
abdn PLC (ABDN) – Yield 9.59%

Both look pretty good to me, there are a lot of high-yielders around I believe. Famous last words?

I will be having a further quick review this weekend - 08/09 June 2024 - but for now …..

Insurance: Life – Phoenix Group Holdings (PHNX) – Yield 10.71% - is the decision for this dividend re-investment.

The Sector Value Concentration after purchase (8.43%) will leave the Insurance: Life Business Sector holding as number five by that measure, well below the maximum allowed – 10% - but who knows, there may be further purchases to come.

I am not intending to purchase PHNX for any of the “real” portfolios under my control, and therefore the price to be applied for this “virtual” purchase will be the Mid Price reported on the day. I shall post an update when the details of the purchase are known.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian

IanTHughes · #668329

Year Six: Dividend Re-Investment – 10 June 2024 - Result

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Update 10 June 2024

Dividend Re-Investment Purchase: Transaction Details

The Dividend Re-Investment indicated in the previous post has now been made as follows:

Date      | Business        | EPIC | Shares | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) | Comment                       
10-Jun-24 | Insurance: Life | PHNX |   546  | 489.6100  | -2,673.27  |   -13.37  |  -1.50  | -2,688.14  |  10.73%   | Routine Dividend Re-Investment

The price achieved is the Mid Price for the day, calculated by halving the sum of the day’s High Price and Low Price.

Current Portfolio: Holdings

EPIC |         Company           | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 1,980.0000  |   25,403.40  |     7.60% |    -718.11  |    288.03  |     8,280.28  |   7,850.20  |        7.50% |    1,905.76 
BATS | British American Tobacco  |    299  |  8,359.04  | 2,402.0000  |    7,181.98  |     2.15% |  -1,177.06  |      0.00  |     2,618.33  |   1,441.27  |        9.81% |      704.20 
WPP  | WPP                       |  1,780  | 14,997.55  |   768.0000  |   13,670.40  |     4.09% |  -1,327.15  |    434.32  |     3,018.88  |   2,126.05  |        5.13% |      701.32 
ITV  | ITV                       | 11,652  | 14,999.08  |    78.2000  |    9,111.86  |     2.72% |  -5,887.22  |      0.00  |     2,481.84  |  -3,405.38  |        6.39% |      582.60 
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   693.6000  |   16,819.80  |     5.03% |   1,821.53  |    590.85  |     2,708.69  |   5,121.07  |        4.53% |      762.40 
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   791.0000  |   21,847.42  |     6.53% |   6,848.10  |      0.00  |     6,065.29  |  12,913.39  |        5.75% |    1,256.71 
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   149.9500  |   11,925.53  |     3.57% |  -7,712.56  |      0.00  |     5,833.37  |  -1,879.19  |        9.74% |    1,161.13 
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   203.0000  |    9,575.51  |     2.86% |      -2.61  |      0.00  |     2,316.72  |   2,314.11  |        9.70% |      929.24 
AV   | Aviva                     |  3,663  | 14,970.64  |   470.0000  |   17,216.10  |     5.15% |   2,245.46  |      0.00  |     5,877.31  |   8,122.77  |        7.11% |    1,223.44 
PHNX | Phoenix Grp Holdings      |  2,202  | 10,827.69  |   489.0000  |   10,767.78  |     3.22% |     -59.91  |      0.00  |       317.93  |     258.02  |       10.77% |    1,159.35 
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   207.0000  |   18,385.74  |     5.50% |  -2,330.84  |      0.00  |       711.79  |  -1,619.05  |        1.93% |      355.28 
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,621.0000  |   12,189.92  |     3.64% |     203.18  |    112.80  |     3,155.30  |   3,471.28  |        3.70% |      451.20 
HLN  | Haleon PLC                |    941  |  2,723.59  |   323.3000  |    3,042.25  |     0.91% |     318.66  |      0.00  |        79.03  |     397.69  |        1.86% |       56.46 
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,400.0000  |   42,602.00  |    12.74% |  27,606.80  |      0.00  |     4,327.09  |  31,933.89  |        2.14% |      912.89 
SMDS | DS Smith                  |  4,310  | 14,997.11  |   361.0000  |   15,559.10  |     4.65% |     561.99  |      0.00  |     2,900.63  |   3,462.62  |        4.99% |      775.80 
IBST | Ibstock                   |  5,849  | 14,999.47  |   155.8000  |    9,112.74  |     2.72% |  -5,886.73  |      0.00  |     2,023.71  |  -3,863.02  |        4.49% |      409.43 
LAND | Land Securities Grp       |    818  |  7,499.19  |   645.0000  |    5,276.10  |     1.58% |  -2,223.09  |      0.00  |     1,349.25  |    -873.84  |        6.14% |      323.92 
BLND | British Land Company      |  1,273  |  7,494.24  |   430.2000  |    5,476.45  |     1.64% |  -2,017.79  |      0.00  |     1,215.33  |    -802.46  |        5.30% |      290.24 
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,293.0000  |   19,215.34  |     5.75% |   4,222.83  |      0.00  |     6,410.89  |  10,633.72  |        5.21% |    1,001.14 
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,357.0000  |    9,267.61  |     2.77% |    -565.46  |      0.00  |     2,296.21  |   1,730.75  |        6.37% |      590.69 
SHEL | Shell                     |    457  |  9,626.22  | 2,757.5000  |   12,601.78  |     3.77% |   2,975.56  |    123.11  |     1,842.87  |   4,941.54  |        3.92% |      493.80 
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,422.0000  |   10,480.14  |     3.13% |  -2,483.61  |      0.00  |     1,043.23  |  -1,440.38  |        7.74% |      810.97 
BP   | BP                        |  1,347  |  7,496.10  |   470.8500  |    6,342.35  |     1.90% |  -1,153.75  |     76.96  |     1,493.43  |     416.64  |        4.85% |      307.84 
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    70.8800  |    7,142.58  |     2.14% |  -7,855.90  |    385.17  |     3,892.64  |  -3,578.09  |        8.09% |      577.76 
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,168.5000  |    4,487.04  |     1.34% | -10,492.75  |      0.00  |       610.18  |  -9,882.57  |        0.00% |        0.00 
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   590.5000  |    7,770.98  |     2.32% |  -2,899.61  |      0.00  |     2,547.85  |    -351.76  |        7.51% |      583.90 
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Sub Total:                |         |            |             | £332,471.90  |    99.40% | -£7,990.04  | £2,011.24  |               |             |        5.51% |  £18,327.47 
     | Cash Balance:             |         |            |             |       £0.62  |     0.00% |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £2,011.24  |     0.60% |             |            |               |             |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |             
     | Current Value:            |         |            |             | £334,483.76  |           |             |            |               |             |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             
     | Dividends Rec'd:          |         |            |             |  £76,378.85  |           |             |            |               |             |              |             
     | Ex-Dividend:              |         |            |             |   £2,011.24  |           |             |            |               |             |              |             
     | Realised P/L:             | [2]     |            |             |   £9,178.94  |           |             |            |               |             |              |             
     | UnRealised P/L:           |         |            |             |  -£7,990.04  |           |             |            |               |             |              |             
     |                           |         |            |             |              |    XIRR   |             |            |               |             |              |             
     | Total:                    |         |            |             | £334,483.76  |   5.33%   |             |            |               |             |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£) 
Weapons            | 14,995.20  |  42,602.00  |      12.74% |  27,606.80  |        0.00  |       4,327.09  |    31,933.89  |        2.14% |        912.89 
Tobacco            | 34,480.55  |  32,585.38  |       9.74% |  -1,895.17  |      288.03  |      10,898.61  |     9,291.47  |        8.01% |      2,609.96 
Oil                | 30,086.07  |  29,424.27  |       8.80% |    -661.80  |      200.07  |       4,379.53  |     3,917.80  |        5.48% |      1,612.61 
Mining             | 24,825.58  |  28,482.95  |       8.52% |   3,657.37  |        0.00  |       8,707.10  |    12,364.47  |        5.59% |      1,591.83 
Insurance: Life    | 25,798.33  |  27,983.88  |       8.37% |   2,185.55  |        0.00  |       6,195.24  |     8,380.79  |        8.51% |      2,382.79 
Gambling           | 14,999.32  |  21,847.42  |       6.53% |   6,848.10  |        0.00  |       6,065.29  |    12,913.39  |        5.75% |      1,256.71 
Fund Manager       | 29,216.21  |  21,501.04  |       6.43% |  -7,715.17  |        0.00  |       8,150.09  |       434.92  |        9.72% |      2,090.37 
Insurance: NonLife | 20,716.58  |  18,385.74  |       5.50% |  -2,330.84  |        0.00  |         711.79  |    -1,619.05  |        1.93% |        355.28 
Banks              | 14,998.27  |  16,819.80  |       5.03% |   1,821.53  |      590.85  |       2,708.69  |     5,121.07  |        4.53% |        762.40 
Packaging          | 14,997.11  |  15,559.10  |       4.65% |     561.99  |        0.00  |       2,900.63  |     3,462.62  |        4.99% |        775.80 
Advertising        | 14,997.55  |  13,670.40  |       4.09% |  -1,327.15  |      434.32  |       3,018.88  |     2,126.05  |        5.13% |        701.32 
Pharma             | 11,986.74  |  12,189.92  |       3.64% |     203.18  |      112.80  |       3,155.30  |     3,471.28  |        3.70% |        451.20 
Real Estate IT     | 14,993.43  |  10,752.55  |       3.21% |  -4,240.88  |        0.00  |       2,564.58  |    -1,676.30  |        5.71% |        614.16 
Bricks             | 14,999.47  |   9,112.74  |       2.72% |  -5,886.73  |        0.00  |       2,023.71  |    -3,863.02  |        4.49% |        409.43 
Television         | 14,999.08  |   9,111.86  |       2.72% |  -5,887.22  |        0.00  |       2,481.84  |    -3,405.38  |        6.39% |        582.60 
Utility: Water     | 10,670.59  |   7,770.98  |       2.32% |  -2,899.61  |        0.00  |       2,547.85  |      -351.76  |        7.51% |        583.90 
Telecom: Mobile    | 14,998.48  |   7,142.58  |       2.14% |  -7,855.90  |      385.17  |       3,892.64  |    -3,578.09  |        8.09% |        577.76 
Cruising           | 14,979.79  |   4,487.04  |       1.34% | -10,492.75  |        0.00  |         610.18  |    -9,882.57  |        0.00% |          0.00 
Medical Products   |  2,723.59  |   3,042.25  |       0.91% |     318.66  |        0.00  |          79.03  |       397.69  |        1.86% |         56.46

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                      | Real P&L (£) |         Comment                                                   
20-Sep-19 | IBST | Ibstock                   |      292.45  | Return of Capital                                                 
09-Oct-19 | GNK  | Greene King               |    4,188.29  | Sale – Pending Takeover                                           
16-Jul-21 | PNN  | Pennon Group              |    1,676.05  | Return of Capital - Share Consolidation                           
21-Sep-21 | BHP  | BHP Group                 |      550.49  | Return of Capital                                                 
16-May-22 | AV   | Aviva                     |      173.70  | Return of Capital - Share Consolidation                           
01-Jun-22 | BHP  | BHP Group                 |    2,565.55  | Return of Capital - Woodside Energy Group (WDS) shares            
19-Jul-22 | GSK  | GSK PLC                   |     -275.74  | Return of Capital - Haleon PLC (HLN) shares - Share Consolidation 
19-Jul-22 | WDS  | Woodside Energy Group Ltd |        8.15  | Return of Capital - Share Consolidation                           
          |      |                           |              |                                                                   
          |      | Total                     |   £9,178.94  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

Date      | Balance   | Re-Invest?
10-Jul-24 | 1,113.64  |      N    
12-Aug-24 | 2,022.07  |      Y    
10-Sep-24 |   399.14  |      N    
10-Oct-24 | 4,100.54  |      Y    
11-Nov-24 | 2,317.15  |      Y    
10-Dec-24 |   548.02  |      N    
10-Jan-25 | 1,946.83  |      N    
10-Feb-25 | 2,574.07  |      Y    
10-Mar-25 |   374.52  |      N    
10-Apr-25 | 2,246.42  |      Y    
12-May-25 | 2,111.24  |      Y    
10-Jun-25 | 2,956.49  |      Y

The next Dividend Re-Investment will therefore be on 12 August 2024 when £2,022.07 is currently forecast to be available for re-investment. At the moment of course, it looks as if the decision will once again be Phoenix Grp Holdings (PHNX). However, there are two months to wait during which much could change.

As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Other Actions Required

1. - HSBA – HSBC PLC: Special Dividend – 21 June 2024

I recognise such a payment as a Return of Capital (RoC). The amount to be received, around £400.00, will be re-invested along with the dividend receipts.

2. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small residue. It is intended that IP will have a secondary listing in London, so this holding will be maintained going forward.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian

IanTHughes · #678713

Year Six: Dividend Re-Investment – due on 12 August 2024 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£) | Year Div (%)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 2,126.0000  |   27,276.58  |     8.16% |   1,155.07  |      0.00  |     8,568.31  |   9,723.38  |        6.99% |    1,905.76  |       10.55%
BATS | British American Tobacco  |    299  |  8,359.04  | 2,801.0000  |    8,374.99  |     2.51% |      15.95  |      0.00  |     2,794.38  |   2,810.33  |        8.41% |      704.20  |        3.90%
WPP  | WPP                       |  1,780  | 14,997.55  |   678.8000  |   12,082.64  |     3.62% |  -2,914.91  |      0.00  |     3,453.20  |     538.29  |        5.80% |      701.32  |        3.88%
ITV  | ITV                       | 11,652  | 14,999.08  |    78.0500  |    9,094.39  |     2.72% |  -5,904.69  |      0.00  |     2,481.84  |  -3,422.85  |        6.41% |      582.60  |        3.23%
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   642.5000  |   15,580.63  |     4.66% |     582.36  |      0.00  |     2,899.11  |   3,481.47  |        4.86% |      757.81  |        4.20%
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   916.5000  |   25,313.73  |     7.58% |  10,314.41  |      0.00  |     6,065.29  |  16,379.70  |        5.04% |    1,276.04  |        7.06%
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   149.2000  |   11,865.88  |     3.55% |  -7,772.21  |      0.00  |     5,833.37  |  -1,938.84  |        9.79% |    1,161.13  |        6.43%
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   201.7000  |    9,514.19  |     2.85% |     -63.93  |      0.00  |     2,316.72  |   2,252.79  |        9.77% |      929.24  |        5.14%
AV   | Aviva                     |  3,663  | 14,970.64  |   482.5000  |   17,673.99  |     5.29% |   2,703.35  |      0.00  |     5,877.31  |   8,580.66  |        6.92% |    1,223.44  |        6.77%
PHNX | Phoenix Grp Holdings      |  2,202  | 10,827.69  |   535.5000  |   11,791.72  |     3.53% |     964.03  |      0.00  |       317.93  |   1,281.96  |        9.83% |    1,159.35  |        6.42%
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   174.2000  |   15,472.44  |     4.63% |  -5,244.14  |      0.00  |       711.79  |  -4,532.35  |        2.30% |      355.28  |        1.97%
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,565.5000  |   11,772.56  |     3.52% |    -214.18  |      0.00  |     3,268.10  |   3,053.92  |        3.83% |      451.20  |        2.50%
HLN  | Haleon PLC                |    941  |  2,723.59  |   377.0000  |    3,547.57  |     1.06% |     823.98  |      0.00  |        79.03  |     903.01  |        1.64% |       58.34  |        0.32%
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,277.5000  |   38,874.33  |    11.63% |  23,879.13  |      0.00  |     4,327.09  |  28,206.22  |        2.42% |      940.28  |        5.21%
SMDS | DS Smith                  |  4,310  | 14,997.11  |   438.8000  |   18,912.28  |     5.66% |   3,915.17  |      0.00  |     2,900.63  |   6,815.80  |        4.10% |      775.80  |        4.29%
IBST | Ibstock                   |  5,849  | 14,999.47  |   180.0000  |   10,528.20  |     3.15% |  -4,471.27  |      0.00  |     2,023.71  |  -2,447.56  |        2.83% |      298.29  |        1.65%
LAND | Land Securities Grp       |    818  |  7,499.19  |   620.0000  |    5,071.60  |     1.52% |  -2,427.59  |      0.00  |     1,448.22  |    -979.37  |        6.42% |      325.56  |        1.80%
BLND | British Land Company      |  1,273  |  7,494.24  |   396.6000  |    5,048.72  |     1.51% |  -2,445.52  |      0.00  |     1,350.77  |  -1,094.75  |        5.75% |      290.24  |        1.61%
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,097.0000  |   17,572.86  |     5.26% |   2,580.35  |      0.00  |     6,410.89  |   8,991.24  |        5.66% |      995.12  |        5.51%
RIO  | Rio Tinto                 |    173  |  9,833.07  | 4,914.5000  |    8,502.09  |     2.54% |  -1,330.98  |      0.00  |     2,296.21  |     965.23  |        6.96% |      591.74  |        3.28%
SHEL | Shell                     |    457  |  9,626.22  | 2,776.0000  |   12,686.32  |     3.80% |   3,060.10  |      0.00  |     1,965.98  |   5,026.08  |        3.87% |      491.27  |        2.72%
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,300.0000  |    9,581.00  |     2.87% |  -3,382.75  |      0.00  |     1,043.23  |  -2,339.52  |        8.41% |      806.09  |        4.46%
BP   | BP                        |  1,347  |  7,496.10  |   433.7500  |    5,842.61  |     1.75% |  -1,653.49  |     84.18  |     1,569.97  |       0.66  |        5.37% |      313.68  |        1.74%
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    73.8000  |    7,436.83  |     2.23% |  -7,561.65  |      0.00  |     4,274.54  |  -3,287.11  |        5.20% |      386.65  |        2.14%
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,054.0000  |    4,047.36  |     1.21% | -10,932.43  |      0.00  |       610.18  | -10,322.25  |        0.00% |        0.00  |        0.00%
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   592.5000  |    7,797.30  |     2.33% |  -2,873.29  |    399.14  |     2,547.85  |      73.70  |        7.49% |      583.90  |        3.23%
     |                           |         |            |             |              |           |             |            |               |             |              |              |             
     | Sub Total:                |         |            |             | £331,262.81  |    99.13% | -£9,199.13  |   £483.32  |               |             |        5.45% |  £18,064.33  |             
     | Cash Balance:             |         |            |             |   £2,418.09  |     0.72% |             |            |               |             |              |              |             
     | Ex Dividend:              |         |            |             |     £483.32  |     0.15% |             |            |               |             |              |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |              |             
     | Current Value:            |         |            |             | £334,164.22  |           |             |            |               |             |              |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |              |             
     | Dividends Rec'd:          |         |            |             |  £78,396.43  |           |             |            |               |             |              |              |             
     | Ex Dividend:              |         |            |             |     £483.32  |           |             |            |               |             |              |              |             
     | Realised P/L:             | [2]     |            |             |   £9,578.83  |           |             |            |               |             |              |              |             
     | UnRealised P/L:           |         |            |             |  -£9,199.13  |           |             |            |               |             |              |              |             
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |              |             
     | Total:                    |         |            |             | £334,164.22  |     5.14% |             |            |               |             |              |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Tobacco            | 34,480.55  |  35,651.57  |      10.67% |   1,171.02  |        0.00  |      11,362.69  |    12,533.71  |        7.32% |      2,609.96  |         14.45%
Insurance: Life    | 25,798.33  |  29,465.71  |       8.82% |   3,667.38  |        0.00  |       6,195.24  |     9,862.62  |        8.09% |      2,382.79  |         13.19%
Fund Manager       | 29,216.21  |  21,380.07  |       6.40% |  -7,836.14  |        0.00  |       8,150.09  |       313.95  |        9.78% |      2,090.37  |         11.57%
Oil                | 30,086.07  |  28,109.93  |       8.41% |  -1,976.14  |       84.18  |       4,579.18  |     2,687.22  |        5.73% |      1,611.04  |          8.92%
Mining             | 24,825.58  |  26,074.95  |       7.80% |   1,249.37  |        0.00  |       8,707.10  |     9,956.47  |        6.09% |      1,586.86  |          8.78%
Gambling           | 14,999.32  |  25,313.73  |       7.58% |  10,314.41  |        0.00  |       6,065.29  |    16,379.70  |        5.04% |      1,276.04  |          7.06%
Weapons            | 14,995.20  |  38,874.33  |      11.63% |  23,879.13  |        0.00  |       4,327.09  |    28,206.22  |        2.42% |        940.28  |          5.21%
Packaging          | 14,997.11  |  18,912.28  |       5.66% |   3,915.17  |        0.00  |       2,900.63  |     6,815.80  |        4.10% |        775.80  |          4.29%
Banks              | 14,998.27  |  15,580.63  |       4.66% |     582.36  |        0.00  |       2,899.11  |     3,481.47  |        4.86% |        757.81  |          4.20%
Advertising        | 14,997.55  |  12,082.64  |       3.62% |  -2,914.91  |        0.00  |       3,453.20  |       538.29  |        5.80% |        701.32  |          3.88%
Real Estate IT     | 14,993.43  |  10,120.32  |       3.03% |  -4,873.11  |        0.00  |       2,798.99  |    -2,074.12  |        6.08% |        615.80  |          3.41%
Utility: Water     | 10,670.59  |   7,797.30  |       2.33% |  -2,873.29  |      399.14  |       2,547.85  |        73.70  |        7.49% |        583.90  |          3.23%
Television         | 14,999.08  |   9,094.39  |       2.72% |  -5,904.69  |        0.00  |       2,481.84  |    -3,422.85  |        6.41% |        582.60  |          3.23%
Telecom: Mobile    | 14,998.48  |   7,436.83  |       2.23% |  -7,561.65  |        0.00  |       4,274.54  |    -3,287.11  |        5.20% |        386.65  |          2.14%
Pharma             | 11,986.74  |  11,772.56  |       3.52% |    -214.18  |        0.00  |       3,268.10  |     3,053.92  |        3.83% |        451.20  |          2.50%
Bricks             | 14,999.47  |  10,528.20  |       3.15% |  -4,471.27  |        0.00  |       2,023.71  |    -2,447.56  |        2.83% |        298.29  |          1.65%
Insurance: NonLife | 20,716.58  |  15,472.44  |       4.63% |  -5,244.14  |        0.00  |         711.79  |    -4,532.35  |        2.30% |        355.28  |          1.97%
Medical Products   |  2,723.59  |   3,547.57  |       1.06% |     823.98  |        0.00  |          79.03  |       903.01  |        1.64% |         58.34  |          0.32%
Cruising           | 14,979.79  |   4,047.36  |       1.21% | -10,932.43  |        0.00  |         610.18  |   -10,322.25  |        0.00% |          0.00  |          0.00%

[2] - Realised Profit and Loss & Return of Capital – To Date

   Date   | EPIC |         Name            | Real P&L (£) |                Comment                                         
20-Sep-19 | IBST | Ibstock                 |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King             |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp              |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp                 |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva                   |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp                 |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK PLC                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp Ltd |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings           |      399.89  | Return of Capital                                              
          |      |                         |              |                                                                
          |      | Total                   |   £9,578.83  |

Dividend Re-Investment: 12 August 2024

As at the close of business on Friday 09 August 2024, the amount available for re-investment is £2,418.09. This amount will be used to invest in one holding on Monday 12 August 2024.

I have decided to limit Income Concentration as follows:

Holding Income Concentration – 10%
Sector Income Concentration – 15%

I do not intend to allow any Re-Investment that would breech either of those two limits.

Candidates
Apart from the Income Concentration Limits mentioned above, I am not one to place a limit on the yield being purchased. HYP is first and foremost an income strategy, so I do not countenance any idea of limiting the yield purchased to twice the number you first thought of, after stepping off the scales this morning! I am simply looking for the “Highest Sustainable Yield”, subject only to appropriate diversification being maintained.

To this end, the following candidates were listed for consideration:

EPIC | Company                  | Reward (%) | Decision     | Comments                                                          
PHNX | Phoenix Grp Holdings     |      9.83% | Possible     | Holding/Sector Income Concentrations (7.63%)/(14.31%) within limit
ABDN | Abrdn PLC                |      9.79% | Possible     | Holding/Sector Income Concentrations (7.63%)/(12.71%) within limit
MNG  | M & G PLC                |      9.77% | Possible     | Holding/Sector Income Concentrations (6.36%)/(12.71%) within limit
BATS | British American Tobacco |      8.41% | Disqualified | Sector Income Concentration (15.40%) over limit                   
WDS  | Woodside Energy Grp Ltd  |      8.41% | Possible     | Holding/Sector Income Concentrations (5.52%)/(9.93%) within limit

Phoenix Grp Holdings (PHNX) – Yield 9.83%

My thinking remains as it was on 10 June 2024 when Dividends were last re-invested in PHNX. As I said then:

On the one hand they are currently throwing off a lot of cash – including a recently increased dividend – but on the other there are those that caution against a coming earnings drought.

https://finance.yahoo.com/news/phoenix- ... 48276.html

Personally, I am not very good at determining future events, preferring to base my decisions on what is or has been recently happening, together with a review of what the management think.

Phoenix announces strong full year 2023 results and new progressive dividend policy.

"Phoenix's vision is to be the UK's leading retirement savings and income business, and we are making great progress in delivering our strategy to achieve this, as our strong 2023 financial results demonstrate.

We have achieved our 2025 growth target two years early with £1.5bn of new business cash delivered by our Standard Life business - a new record. We delivered over £2bn of cash generation and maintained our resilient balance sheet, and our strong performance has enabled the Board to recommend a 2.5% dividend increase.

The next phase of our strategy will see us balance our investment across our strategic priorities to grow, optimise and enhance our business. This will support us in delivering the ambitious new 2026 targets we are announcing today. Our confidence in this strategy is demonstrated by the new progressive and sustainable dividend policy we will operate going forward."

So, I am going to stick with the management and add some more PHNX to the portfolio.

Same again!

Incidentally:
abdn PLC (ABDN) – Yield 9.79%
and
M & G PLC (MNG) – Yield 9.77%

Both look pretty good to me, although I am getting concerned as to the dividend at ABDN still being held. There are still a lot of high-yielders around I believe. Famous last words?

I will be having a further quick review this weekend - 10/11 August 2024 - but for now …..

Insurance: Life – Phoenix Group Holdings (PHNX) – Yield 9.83% - is the decision for this dividend re-investment.

As well as not breaching my new Income Concentration limits, the Sector Value Concentration after purchase (9.54%) will leave the Insurance: Life Business Sector holding as number three by that measure, still below the maximum allowed – 10% - but who knows, there may be further purchases to come.

As it happens, I am intending, on the same day, to purchase PHNX for one of the “real” portfolios under my control, and therefore the price to be applied for this “virtual” purchase will be the same price that I achieve for my “real” purchase. I shall post an update when the details of the purchase are known.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian.

IanTHughes · #679264

Year Six: Dividend Re-Investment – 12 August 2024 - Result

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Dividend Re-Investment Purchase: Transaction Details

The Dividend Re-Investment indicated in the previous post has now been made as follows:

Date      | Business        | EPIC | Shares | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) | Comment                       
10-Jun-24 | Insurance: Life | PHNX |   445  | 539.2740  | -2,399.77  |   -12.00  |  -1.50  | -2,413.27  |  10.73%   | Routine Dividend Re-Investment

The price achieved is the price achieved for a purchase of PHNX within a “real” HYP portfolio, managed by myself.

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex-Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Year Div (£) | Year Div (%)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 2,134.0000  |   27,379.22  |     8.13% |   1,257.71  |      0.00  |     8,568.31  |   9,826.02  |        6.96% |    1,905.76  |       10.19%
BATS | British American Tobacco  |    299  |  8,359.04  | 2,801.0000  |    8,374.99  |     2.49% |      15.95  |      0.00  |     2,794.38  |   2,810.33  |        8.41% |      704.20  |        3.77%
WPP  | WPP                       |  1,780  | 14,997.55  |   690.2000  |   12,285.56  |     3.65% |  -2,711.99  |      0.00  |     3,453.20  |     741.21  |        5.71% |      701.32  |        3.75%
ITV  | ITV                       | 11,652  | 14,999.08  |    78.4000  |    9,135.17  |     2.71% |  -5,863.91  |      0.00  |     2,481.84  |  -3,382.07  |        6.38% |      582.60  |        3.12%
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   643.9000  |   15,614.58  |     4.64% |     616.31  |      0.00  |     3,306.98  |   3,923.29  |        7.40% |    1,155.66  |        6.18%
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   933.0000  |   25,769.46  |     7.65% |  10,770.14  |      0.00  |     6,065.29  |  16,835.43  |        4.95% |    1,276.04  |        6.83%
ABDN | Abrdn PLC                 |  7,953  | 19,638.09  |   152.9500  |   12,164.12  |     3.61% |  -7,473.97  |      0.00  |     5,833.37  |  -1,640.60  |        9.55% |    1,161.13  |        6.21%
MNG  | M & G PLC                 |  4,717  |  9,578.12  |   203.9000  |    9,617.96  |     2.86% |      39.84  |      0.00  |     2,316.72  |   2,356.56  |        9.66% |      929.24  |        4.97%
AV   | Aviva                     |  3,663  | 14,970.64  |   484.2000  |   17,736.24  |     5.27% |   2,765.60  |      0.00  |     5,877.31  |   8,642.91  |        6.90% |    1,223.44  |        6.54%
PHNX | Phoenix Grp Holdings      |  2,647  | 13,240.96  |   538.0000  |   14,240.86  |     4.23% |     999.90  |      0.00  |       317.93  |   1,317.83  |        9.79% |    1,393.64  |        7.45%
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   174.9000  |   15,534.62  |     4.61% |  -5,181.96  |      0.00  |       711.79  |  -4,470.17  |        2.29% |      355.28  |        1.90%
GSK  | GSK PLC                   |    752  | 11,986.74  | 1,572.0000  |   11,821.44  |     3.51% |    -165.30  |      0.00  |     3,268.10  |   3,102.80  |        3.82% |      451.20  |        2.41%
HLN  | Haleon PLC                |    941  |  2,723.59  |   373.2000  |    3,511.81  |     1.04% |     788.22  |      0.00  |        79.03  |     867.25  |        1.66% |       58.34  |        0.31%
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,303.5000  |   39,665.51  |    11.78% |  24,670.31  |      0.00  |     4,327.09  |  28,997.40  |        2.37% |      940.28  |        5.03%
SMDS | DS Smith                  |  4,310  | 14,997.11  |   444.0000  |   19,136.40  |     5.68% |   4,139.29  |      0.00  |     2,900.63  |   7,039.92  |        4.05% |      775.80  |        4.15%
IBST | Ibstock                   |  5,849  | 14,999.47  |   179.0000  |   10,469.71  |     3.11% |  -4,529.76  |      0.00  |     2,023.71  |  -2,506.05  |        2.85% |      298.29  |        1.60%
LAND | Land Securities Grp       |    818  |  7,499.19  |   615.5000  |    5,034.79  |     1.50% |  -2,464.40  |      0.00  |     1,448.22  |  -1,016.18  |        6.47% |      325.56  |        1.74%
BLND | British Land Company      |  1,273  |  7,494.24  |   395.0000  |    5,028.35  |     1.49% |  -2,465.89  |      0.00  |     1,350.77  |  -1,115.12  |        5.77% |      290.24  |        1.55%
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,094.0000  |   17,547.72  |     5.21% |   2,555.21  |      0.00  |     6,410.89  |   8,966.10  |        5.67% |      995.12  |        5.32%
RIO  | Rio Tinto                 |    173  |  9,833.07  | 4,942.0000  |    8,549.66  |     2.54% |  -1,283.41  |      0.00  |     2,296.21  |   1,012.80  |        6.92% |      591.74  |        3.16%
SHEL | Shell                     |    457  |  9,626.22  | 2,799.0000  |   12,791.43  |     3.80% |   3,165.21  |      0.00  |     1,965.98  |   5,131.19  |        3.84% |      491.27  |        2.63%
WDS  | Woodside Energy Grp Ltd   |    737  | 12,963.75  | 1,310.0000  |    9,654.70  |     2.87% |  -3,309.05  |      0.00  |     1,043.23  |  -2,265.82  |        8.35% |      806.09  |        4.31%
BP   | BP                        |  1,347  |  7,496.10  |   439.6000  |    5,921.41  |     1.76% |  -1,574.69  |     84.18  |     1,569.97  |      79.46  |        5.30% |      313.68  |        1.68%
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    74.4400  |    7,501.32  |     2.23% |  -7,497.16  |      0.00  |     4,274.54  |  -3,222.62  |        5.15% |      386.65  |        2.07%
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,037.5000  |    3,984.00  |     1.18% | -10,995.79  |      0.00  |       610.18  | -10,385.61  |        0.00% |        0.00  |        0.00%
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   587.5000  |    7,731.50  |     2.30% |  -2,939.09  |    399.14  |     2,547.85  |       7.90  |        7.55% |      583.90  |        3.12%
     |                           |         |            |             |              |           |             |            |               |             |              |              |             
     | Sub Total:                |         |            |             | £336,202.53  |    99.86% | -£6,672.68  |   £483.32  |               |             |        5.56% |  £18,696.47  |             
     | Cash Balance:             |         |            |             |       £4.82  |     0.00% |             |            |               |             |              |              |             
     | Ex Dividend:              |         |            |             |     £483.32  |     0.14% |             |            |               |             |              |              |             
     |                           |         |            |             |              |           |             |            |               |             |              |              |             
     | Current Value:            |         |            |             | £336,690.67  |           |             |            |               |             |              |              |             
     | From:                     |         |            |             |              |           |             |            |               |             |              |              |             
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |              |             
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |              |             
     | Dividends Rec'd:          |         |            |             |  £78,396.43  |           |             |            |               |             |              |              |             
     | Ex Dividend:              |         |            |             |     £483.32  |           |             |            |               |             |              |              |             
     | Realised P/L:             | [2]     |            |             |   £9,578.83  |           |             |            |               |             |              |              |             
     | UnRealised P/L:           |         |            |             |  -£6,672.68  |           |             |            |               |             |              |              |             
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |              |             
     | Total:                    |         |            |             | £336,690.67  |   5.28%   |             |            |               |             |              |              |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Insurance: Life    | 28,211.60  |  31,977.10  |       9.50% |   3,765.50  |        0.00  |       6,195.24  |     9,960.74  |        8.18% |      2,617.08  |         14.00%
Tobacco            | 34,480.55  |  35,754.21  |      10.62% |   1,273.66  |        0.00  |      11,362.69  |    12,636.35  |        7.30% |      2,609.96  |         13.96%
Fund Manager       | 29,216.21  |  21,782.08  |       6.47% |  -7,434.13  |        0.00  |       8,150.09  |       715.96  |        9.60% |      2,090.37  |         11.18%
Oil                | 30,086.07  |  28,367.54  |       8.43% |  -1,718.53  |       84.18  |       4,579.18  |     2,944.83  |        5.68% |      1,611.04  |          8.62%
Mining             | 24,825.58  |  26,097.38  |       7.75% |   1,271.80  |        0.00  |       8,707.10  |     9,978.90  |        6.08% |      1,586.86  |          8.49%
Gambling           | 14,999.32  |  25,769.46  |       7.65% |  10,770.14  |        0.00  |       6,065.29  |    16,835.43  |        4.95% |      1,276.04  |          6.83%
Banks              | 14,998.27  |  15,614.58  |       4.64% |     616.31  |        0.00  |       3,306.98  |     3,923.29  |        7.40% |      1,155.66  |          6.18%
Weapons            | 14,995.20  |  39,665.51  |      11.78% |  24,670.31  |        0.00  |       4,327.09  |    28,997.40  |        2.37% |        940.28  |          5.03%
Packaging          | 14,997.11  |  19,136.40  |       5.68% |   4,139.29  |        0.00  |       2,900.63  |     7,039.92  |        4.05% |        775.80  |          4.15%
Advertising        | 14,997.55  |  12,285.56  |       3.65% |  -2,711.99  |        0.00  |       3,453.20  |       741.21  |        5.71% |        701.32  |          3.75%
Real Estate IT     | 14,993.43  |  10,063.14  |       2.99% |  -4,930.29  |        0.00  |       2,798.99  |    -2,131.30  |        6.12% |        615.80  |          3.29%
Utility: Water     | 10,670.59  |   7,731.50  |       2.30% |  -2,939.09  |      399.14  |       2,547.85  |         7.90  |        7.55% |        583.90  |          3.12%
Television         | 14,999.08  |   9,135.17  |       2.71% |  -5,863.91  |        0.00  |       2,481.84  |    -3,382.07  |        6.38% |        582.60  |          3.12%
Pharma             | 11,986.74  |  11,821.44  |       3.51% |    -165.30  |        0.00  |       3,268.10  |     3,102.80  |        3.82% |        451.20  |          2.41%
Telecom: Mobile    | 14,998.48  |   7,501.32  |       2.23% |  -7,497.16  |        0.00  |       4,274.54  |    -3,222.62  |        5.15% |        386.65  |          2.07%
Insurance: NonLife | 20,716.58  |  15,534.62  |       4.61% |  -5,181.96  |        0.00  |         711.79  |    -4,470.17  |        2.29% |        355.28  |          1.90%
Bricks             | 14,999.47  |  10,469.71  |       3.11% |  -4,529.76  |        0.00  |       2,023.71  |    -2,506.05  |        2.85% |        298.29  |          1.60%
Medical Products   |  2,723.59  |   3,511.81  |       1.04% |     788.22  |        0.00  |          79.03  |       867.25  |        1.66% |         58.34  |          0.31%
Cruising           | 14,979.79  |   3,984.00  |       1.18% | -10,995.79  |        0.00  |         610.18  |   -10,385.61  |        0.00% |          0.00  |          0.00%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

   Date   | EPIC |         Name            | Real P&L (£) |                Comment                                         
20-Sep-19 | IBST | Ibstock                 |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King             |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp              |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp                 |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva                   |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp                 |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK PLC                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp Ltd |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings           |      399.89  | Return of Capital                                              
          |      |                         |              |                                                                
          |      | Total                   |   £9,578.83  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

Date      | Balance   | Re-Invest?
10-Sep-24 |   403.96  |      N    
10-Oct-24 | 3,998.17  |      Y    
11-Nov-24 | 2,452.18  |      Y    
10-Dec-24 |   575.41  |      N    
10-Jan-25 | 1,971.86  |      N    
10-Feb-25 | 2,599.83  |      Y    
10-Mar-25 |   374.52  |      N    
10-Apr-25 | 2,240.27  |      Y    
12-May-25 | 2,507.94  |      Y    
10-Jun-25 | 3,075.08  |      Y    
10-Jul-25 | 1,111.11  |      N    
11-Aug-25 | 1,827.69  |      N

The next Dividend Re-Investment will therefore be on 10 October 2024 when £3,998.17 is currently forecast to be available for re-investment. At the moment of course, it looks as if the decision will once again be Phoenix Grp Holdings (PHNX), assuming no Income or Value Concentration limits are broken. M & G PLC (MNG) is currently the second choice.

However, there are two months to wait during which much could change. As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Other Actions Required

1. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small residue. It is intended that IP will have a secondary listing in London, so this holding will be maintained going forward.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian.

IanTHughes · #687404

Year Six: Dividend Re-Investment – due on 10 October 2024 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 2,151.0000  |   27,597.33  |     7.93% |   1,475.82  |      0.00  |     8,856.34  |  10,332.16  |        6.91% |   1,905.76  |     10.21%
BATS | British American Tobacco  |    299  |  8,359.04  | 2,681.0000  |    8,016.19  |     2.30% |    -342.85  |    176.05  |     2,794.38  |   2,627.58  |        8.78% |     704.20  |      3.77%
WPP  | WPP                       |  1,780  | 14,997.55  |   782.6000  |   13,930.28  |     4.00% |  -1,067.27  |      0.00  |     3,453.20  |   2,385.93  |        5.03% |     701.32  |      3.76%
ITV  | ITV                       | 11,652  | 14,999.08  |    78.8500  |    9,187.60  |     2.64% |  -5,811.48  |      0.00  |     2,481.84  |  -3,329.64  |        6.34% |     582.60  |      3.12%
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   691.8000  |   16,776.15  |     4.82% |   1,777.88  |      0.00  |     3,490.83  |   5,268.71  |        6.59% |   1,104.82  |      5.92%
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   922.5000  |   25,479.45  |     7.32% |  10,480.13  |    901.51  |     6,065.29  |  17,446.93  |        5.01% |   1,276.04  |      6.84%
ABDN | Abrdn                     |  7,953  | 19,638.09  |   159.2000  |   12,661.18  |     3.64% |  -6,976.91  |      0.00  |     6,413.93  |    -562.98  |        9.17% |   1,161.13  |      6.22%
MNG  | M & G                     |  4,717  |  9,578.12  |   206.0000  |    9,717.02  |     2.79% |     138.90  |    311.32  |     2,316.72  |   2,766.94  |        9.61% |     933.96  |      5.00%
AV   | Aviva                     |  3,663  | 14,970.64  |   473.9000  |   17,358.96  |     4.99% |   2,388.32  |    435.89  |     5,877.31  |   8,701.52  |        7.22% |   1,252.74  |      6.71%
PHNX | Phoenix Grp Holdings      |  2,647  | 13,240.96  |   516.0000  |   13,658.52  |     3.92% |     417.56  |    705.42  |       317.93  |   1,440.91  |       10.33% |   1,410.85  |      7.56%
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   182.9000  |   16,245.18  |     4.67% |  -4,471.40  |    177.64  |       711.79  |  -3,581.97  |        3.28% |     532.92  |      2.86%
GSK  | GSK                       |    752  | 11,986.74  | 1,459.5000  |   10,975.44  |     3.15% |  -1,011.30  |    112.80  |     3,268.10  |   2,369.60  |        4.11% |     451.20  |      2.42%
HLN  | Haleon                    |    941  |  2,723.59  |   386.6000  |    3,637.91  |     1.05% |     914.32  |      0.00  |        97.85  |   1,012.17  |        1.60% |      58.34  |      0.31%
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,297.0000  |   39,467.71  |    11.34% |  24,472.51  |      0.00  |     4,327.09  |  28,799.60  |        2.38% |     940.28  |      5.04%
SMDS | DS Smith                  |  4,310  | 14,997.11  |   461.8000  |   19,903.58  |     5.72% |   4,906.47  |      0.00  |     3,417.83  |   8,324.30  |        3.90% |     775.80  |      4.16%
IBST | Ibstock                   |  5,849  | 14,999.47  |   184.8000  |   10,808.95  |     3.11% |  -4,190.52  |      0.00  |     2,111.44  |  -2,079.08  |        2.76% |     298.29  |      1.60%
LAND | Land Securities Grp       |    818  |  7,499.19  |   639.0000  |    5,227.02  |     1.50% |  -2,272.17  |      0.00  |     1,523.47  |    -748.70  |        6.23% |     325.56  |      1.74%
BLND | British Land Company      |  1,273  |  7,494.24  |   428.2000  |    5,450.99  |     1.57% |  -2,043.25  |      0.00  |     1,350.77  |    -692.48  |        5.32% |     290.24  |      1.56%
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,304.0000  |   19,307.52  |     5.55% |   4,315.01  |      0.00  |     6,885.02  |  11,200.03  |        4.73% |     913.79  |      4.90%
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,298.0000  |    9,165.54  |     2.63% |    -667.53  |      0.00  |     2,528.42  |   1,860.89  |        6.34% |     581.22  |      3.11%
SHEL | Shell                     |    457  |  9,626.22  | 2,577.5000  |   11,779.18  |     3.38% |   2,152.96  |      0.00  |     2,085.48  |   4,238.44  |        3.99% |     469.66  |      2.52%
WDS  | Woodside Energy Grp       |    737  | 12,963.75  | 1,374.0000  |   10,126.38  |     2.91% |  -2,837.37  |      0.00  |     1,431.10  |  -1,406.27  |        7.01% |     710.08  |      3.80%
BP   | BP                        |  1,347  |  7,496.10  |   416.8500  |    5,614.97  |     1.61% |  -1,881.13  |      0.00  |     1,651.46  |    -229.67  |        5.73% |     321.92  |      1.72%
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    73.9000  |    7,446.90  |     2.14% |  -7,551.58  |      0.00  |     4,274.54  |  -3,277.04  |        5.07% |     377.78  |      2.02%
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,229.0000  |    4,719.36  |     1.36% | -10,260.43  |      0.00  |       610.18  |  -9,650.25  |        0.00% |       0.00  |      0.00%
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   574.5000  |    7,560.42  |     2.17% |  -3,110.17  |      0.00  |     2,946.99  |    -163.18  |        7.72% |     583.90  |      3.13%
     |                           |         |            |             |              |           |             |            |               |             |              |             |           
     | Sub Total:                |         |            |             | £341,819.73  |    98.20% | -£1,055.48  | £2,820.63  |               |             |        5.46% | £18,664.40  |           
     | Cash Balance:             |         |            |             |   £3,450.60  |     0.99% |             |            |               |             |              |             |           
     | Ex Dividend:              |         |            |             |   £2,820.63  |     0.81% |             |            |               |             |              |             |           
     |                           |         |            |             |              |           |             |            |               |             |              |             |           
     | Current Value:            |         |            |             | £348,090.96  |           |             |            |               |             |              |             |           
     | From:                     |         |            |             |              |           |             |            |               |             |              |             |           
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             |           
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             |           
     | Dividends Rec'd:          |         |            |             |  £81,842.21  |           |             |            |               |             |              |             |           
     | Ex Dividend:              |         |            |             |   £2,820.63  |           |             |            |               |             |              |             |           
     | Realised P/L:             | [2]     |            |             |   £9,578.83  |           |             |            |               |             |              |             |           
     | UnRealised P/L:           |         |            |             |  -£1,055.48  |           |             |            |               |             |              |             |           
     |                           |         |            |             |              |    XIRR   |             |            |               |             |              |             |           
     | Total:                    |         |            |             | £348,090.96  |   5.77%   |             |            |               |             |              |             |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)    |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Insurance: Life    | 28,211.60  |  31,017.48  |       8.91% |   2,805.88  |    1,141.31  |       6,195.24  |    10,142.43  |        8.59% |      2,663.59  |         14.27%
Tobacco            | 34,480.55  |  35,613.52  |      10.23% |   1,132.97  |      176.05  |      11,650.72  |    12,959.74  |        7.33% |      2,609.96  |         13.98%
Fund Manager       | 29,216.21  |  22,378.20  |       6.43% |  -6,838.01  |      311.32  |       8,730.65  |     2,203.96  |        9.36% |      2,095.09  |         11.23%
Mining             | 24,825.58  |  28,473.06  |       8.18% |   3,647.48  |        0.00  |       9,413.44  |    13,060.92  |        5.25% |      1,495.01  |          8.01%
Oil                | 30,086.07  |  27,520.53  |       7.91% |  -2,565.54  |        0.00  |       5,168.04  |     2,602.50  |        5.46% |      1,501.66  |          8.05%
Gambling           | 14,999.32  |  25,479.45  |       7.32% |  10,480.13  |      901.51  |       6,065.29  |    17,446.93  |        5.01% |      1,276.04  |          6.84%
Banks              | 14,998.27  |  16,776.15  |       4.82% |   1,777.88  |        0.00  |       3,490.83  |     5,268.71  |        6.59% |      1,104.82  |          5.92%
Weapons            | 14,995.20  |  39,467.71  |      11.34% |  24,472.51  |        0.00  |       4,327.09  |    28,799.60  |        2.38% |        940.28  |          5.04%
Packaging          | 14,997.11  |  19,903.58  |       5.72% |   4,906.47  |        0.00  |       3,417.83  |     8,324.30  |        3.90% |        775.80  |          4.16%
Advertising        | 14,997.55  |  13,930.28  |       4.00% |  -1,067.27  |        0.00  |       3,453.20  |     2,385.93  |        5.03% |        701.32  |          3.76%
Real Estate IT     | 14,993.43  |  10,678.01  |       3.07% |  -4,315.42  |        0.00  |       2,874.24  |    -1,441.18  |        5.77% |        615.80  |          3.30%
Utility: Water     | 10,670.59  |   7,560.42  |       2.17% |  -3,110.17  |        0.00  |       2,946.99  |      -163.18  |        7.72% |        583.90  |          3.13%
Television         | 14,999.08  |   9,187.60  |       2.64% |  -5,811.48  |        0.00  |       2,481.84  |    -3,329.64  |        6.34% |        582.60  |          3.12%
Insurance: NonLife | 20,716.58  |  16,245.18  |       4.67% |  -4,471.40  |      177.64  |         711.79  |    -3,581.97  |        3.28% |        532.92  |          2.86%
Pharma             | 11,986.74  |  10,975.44  |       3.15% |  -1,011.30  |      112.80  |       3,268.10  |     2,369.60  |        4.11% |        451.20  |          2.42%
Telecom: Mobile    | 14,998.48  |   7,446.90  |       2.14% |  -7,551.58  |        0.00  |       4,274.54  |    -3,277.04  |        5.07% |        377.78  |          2.02%
Bricks             | 14,999.47  |  10,808.95  |       3.11% |  -4,190.52  |        0.00  |       2,111.44  |    -2,079.08  |        2.76% |        298.29  |          1.60%
Medical Products   |  2,723.59  |   3,637.91  |       1.05% |     914.32  |        0.00  |          97.85  |     1,012.17  |        1.60% |         58.34  |          0.31%
Cruising           | 14,979.79  |   4,719.36  |       1.36% | -10,260.43  |        0.00  |         610.18  |    -9,650.25  |        0.00% |          0.00  |          0.00%

[2] - Realised Profit and Loss & Return of Capital – To Date

   Date   | EPIC |         Name            | Real P&L (£) |                Comment                                         
20-Sep-19 | IBST | Ibstock                 |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King             |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp              |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp                 |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva                   |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp                 |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK PLC                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp Ltd |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings           |      399.89  | Return of Capital                                              
          |      |                         |              |                                                                
          |      | Total                   |   £9,578.83  |

Dividend Re-Investment: 10 October 2024

As at the close of business on Wednesday 09 October 2024, the amount available for re-investment will be £3,450.60. This amount will be used to invest in one holding on Thursday 10 October 2024.

I have decided to limit Income Concentration as follows:

Holding Income Concentration – 10%
Sector Income Concentration – 15%

I do not intend to allow any Re-Investment that would breech either of those two limits.

Candidates
Apart from the Income Concentration Limits mentioned above, I am not one to place a limit on the yield being purchased. HYP is first and foremost an income strategy, so I do not countenance any novice investor idea of limiting the yield purchased to twice the number you first thought of, after stepping off the scales this morning! I am simply looking for the “Highest Sustainable Yield”, subject only to appropriate diversification being maintained.

To this end, the following candidates were listed for consideration:

EPIC |        Company           | Reward (%) | Decision     |           Comments                                                
PHNX | Phoenix Grp Holdings     |     10.33% | Disqualified | Sector Income Concentration (15.87%) over limit                   
MNG  | M & G                    |      9.61% | Possible     | Holding/Sector Income Concentrations (6.65%)/(12.77%) within limit
ABDN | Abrdn                    |      9.17% | Possible     | Holding/Sector Income Concentrations (7.78%)/(12.70%) within limit
BATS | British American Tobacco |      8.78% | Disqualified | Sector Income Concentration (15.35%) over limit                   
AV   | Aviva                    |      7.22% | Disqualified | Sector Income Concentration (15.39%) over limit                   
WDS  | Woodside Energy Grp      |      7.01% | Possible     | Holding/Sector Income Concentrations (5.03%)/(9.22%) within limit

Ignoring those that would breech Income Concentration limits:

M & G (MNG) – Yield 9.61%

The last Top-Up for MNG was 13 months ago – 11 September 2023 – since when both the subsequent final dividend and the recently announced interim dividend have both been increased. There has also been a small increase in the holding value.

Dividend History

The following table shows the progress of the annual dividend over various time periods:

Year End  | Dividend | 1 Year | 3 Years | 5 Years
31-Dec-24 | 20.0000  |  1.52% |   3.01% |   4.87%
31-Dec-23 | 19.7000  |  0.51% |   2.62% |        
31-Dec-22 | 19.6000  |  7.10% |   7.52% |        
31-Dec-21 | 18.3000  |  0.38% |         |

Note: figure for 31 December 2024 assumes that the final dividend will be increased by same percentage increase as for the recently announced interim dividend.

Interim Results: 4 September 2024

https://www.investegate.co.uk/announcem ... ts/8398089

RESILIENT FINANCIAL RESULT ACROSS OPERATING PROFIT AND CAPITAL GENERATION

GOOD PROGRESS ON OUR THREE STRATEGIC BUSINESS PRIORITIES

UPGRADED CAPITAL GENERATION AND COST SAVINGS TARGETS

Delivered good momentum on our Transformation programme at the halfway point of this three-year journey to create a leaner and more efficient organisation; continued to improve our ability to serve clients, reduce costs and unlock growth.

- M&G is well positioned to navigate the current uncertain economic climate due to its diversified business model, international footprint, compelling products and services, investment capabilities and expertise.
- The progress achieved in the first six months of the year underpin our continued confidence in the delivery of our strategic priorities and financial targets, as we remain focused on transforming M&G to deliver great client and shareholder outcomes.
- Our strategic priorities are clear: Maintain our financial strength, build on the progress already achieved in simplifying the business, and deliver profitable growth in the UK and internationally.
- We are making good progress on our financial targets, in particular on the upgraded operating capital generation target of £2.7 billion by end of 2024, and the upgraded cost savings target of £220 million by end of 2025.
- Our dividend policy of delivering stable or growing dividends to our shareholders remains unchanged.

“Good Progress” or not, some “improvements” would appear to be slower than might have been wished, leading to a smaller increase in dividend than I would have hoped for. However, "progress" is progress, and an "increase in dividend" is an increase in dividend, and I do believe the dividend will continue to increase, at least this year and next.

I say yes, make the Top-Up!

abdn PLC (ABDN) – Yield 9.17%

Look pretty good to me although, as mentioned before, there is a concern that the dividend at ABDN is still being held.

Generally, there are still a lot of high-yielders around I believe. Famous last words?

I will be having a further quick review later this week – 8/9 October 2024 - but for now …..

Fund Manager – M & G Plc (MNG) – Yield 9.61% - is the decision for this dividend re-investment.

As well as not breaching my new Income Concentration limits, the Sector Value Concentration after purchase (7.52%) will leave the Fund Manager Business Sector holding as number six by that measure, still below the maximum allowed – 10% - but who knows, there may be further purchases to come.

It is possible that, on the same day, I shall be making a purchase of MNG for one of the “real” portfolios under my control, and therefore, if so, the price to be applied for this “virtual” purchase will be the same price that I achieve for my “real” purchase. Whatever happens, I shall post an update when the details of the purchase are known.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian

IanTHughes · #688491

Year Six: Dividend Re-Investment – 10 October 2024 - Result

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Dividend Re-Investment Purchase: Transaction Details

The Dividend Re-Investment indicated in the previous post has now been made as follows:

Date      | Business     | EPIC | Buy/Sell | Shares (#) | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) | Comment                       
10-Oct-24 | Fund Manager | MNG  | Buy      |     1,676  | 204.6800  | -3,430.44  |   -17.15  |  -1.50  | -3,449.09  |   9.67%   | Routine Dividend Re-Investment

The price achieved is the price achieved for a purchase of MNG within a “real” HYP portfolio, managed by myself.

Current Portfolio: Holdings

EPIC | Company                   | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
IMB  | Imperial Brands           |  1,283  | 26,121.51  | 2,262.0000  |   29,021.46  |     8.39% |   2,899.95  |      0.00  |     8,856.34  |  11,756.29  |        8.34% |   2,420.76  |     12.35%
BATS | British American Tobacco  |    299  |  8,359.04  | 2,700.0000  |    8,073.00  |     2.33% |    -286.04  |    176.05  |     2,794.38  |   2,684.39  |        8.72% |     704.20  |      3.59%
WPP  | WPP                       |  1,780  | 14,997.55  |   755.8000  |   13,453.24  |     3.89% |  -1,544.31  |    267.00  |     3,453.20  |   2,175.89  |        5.21% |     701.32  |      3.58%
ITV  | ITV                       | 11,652  | 14,999.08  |    77.4500  |    9,024.47  |     2.61% |  -5,974.61  |      0.00  |     2,481.84  |  -3,492.77  |        6.46% |     582.60  |      2.97%
HSBA | HSBC Holdings             |  2,425  | 14,998.27  |   672.2000  |   16,300.85  |     4.71% |   1,302.58  |      0.00  |     3,490.83  |   4,793.41  |        6.93% |   1,128.85  |      5.76%
IGG  | IG Grp Holdings           |  2,762  | 14,999.32  |   912.5000  |   25,203.25  |     7.28% |  10,203.93  |    901.51  |     6,065.29  |  17,170.73  |        5.06% |   1,276.04  |      6.51%
ABDN | Abrdn                     |  7,953  | 19,638.09  |   156.9500  |   12,482.24  |     3.61% |  -7,155.85  |      0.00  |     6,413.93  |    -741.92  |        9.30% |   1,161.13  |      5.92%
MNG  | M & G                     |  6,393  | 13,027.21  |   204.9000  |   13,099.25  |     3.79% |      72.04  |    311.32  |     2,316.72  |   2,700.08  |        9.76% |   1,278.60  |      6.52%
AV   | Aviva                     |  3,663  | 14,970.64  |   479.7000  |   17,571.41  |     5.08% |   2,600.77  |    435.89  |     5,877.31  |   8,913.97  |        7.13% |   1,252.74  |      6.39%
PHNX | Phoenix Grp Holdings      |  2,647  | 13,240.96  |   514.5000  |   13,618.83  |     3.94% |     377.87  |    705.42  |       317.93  |   1,401.22  |       10.36% |   1,410.85  |      7.20%
DLG  | Direct Line Insurance Grp |  8,882  | 20,716.58  |   182.7000  |   16,227.42  |     4.69% |  -4,489.16  |    177.64  |       711.79  |  -3,599.73  |        3.28% |     532.92  |      2.72%
GSK  | GSK                       |    752  | 11,986.74  | 1,505.0000  |   11,317.60  |     3.27% |    -669.14  |      0.00  |     3,380.90  |   2,711.76  |        3.99% |     451.20  |      2.30%
HLN  | Haleon                    |    941  |  2,723.59  |   382.3000  |    3,597.44  |     1.04% |     873.85  |      0.00  |        97.85  |     971.70  |        1.62% |      58.34  |      0.30%
BA   | BAE Systems               |  3,043  | 14,995.20  | 1,251.5000  |   38,083.15  |    11.00% |  23,087.95  |      0.00  |     4,327.09  |  27,415.04  |        2.47% |     940.28  |      4.80%
SMDS | DS Smith                  |  4,310  | 14,997.11  |   456.8000  |   19,688.08  |     5.69% |   4,690.97  |      0.00  |     3,417.83  |   8,108.80  |        3.94% |     775.80  |      3.96%
IBST | Ibstock                   |  5,849  | 14,999.47  |   184.0000  |   10,762.16  |     3.11% |  -4,237.31  |      0.00  |     2,111.44  |  -2,125.87  |        2.77% |     298.29  |      1.52%
LAND | Land Securities Grp       |    818  |  7,499.19  |   632.5000  |    5,173.85  |     1.50% |  -2,325.34  |      0.00  |     1,523.47  |    -801.87  |        6.29% |     325.56  |      1.66%
BLND | British Land Company      |  1,273  |  7,494.24  |   426.4000  |    5,428.07  |     1.57% |  -2,066.17  |      0.00  |     1,350.77  |    -715.40  |        5.35% |     290.24  |      1.48%
BHP  | BHP Grp                   |    838  | 14,992.51  | 2,240.0000  |   18,771.20  |     5.42% |   3,778.69  |      0.00  |     6,885.02  |  10,663.71  |        4.97% |     933.66  |      4.76%
RIO  | Rio Tinto                 |    173  |  9,833.07  | 5,069.0000  |    8,769.37  |     2.53% |  -1,063.70  |      0.00  |     2,528.42  |   1,464.72  |        6.68% |     586.19  |      2.99%
SHEL | Shell                     |    457  |  9,626.22  | 2,593.0000  |   11,850.01  |     3.42% |   2,223.79  |      0.00  |     2,085.48  |   4,309.27  |        4.05% |     479.87  |      2.45%
WDS  | Woodside Energy Grp       |    737  | 12,963.75  | 1,324.0000  |    9,757.88  |     2.82% |  -3,205.87  |      0.00  |     1,431.10  |  -1,774.77  |        7.44% |     725.52  |      3.70%
BP   | BP                        |  1,347  |  7,496.10  |   410.8500  |    5,534.15  |     1.60% |  -1,961.95  |      0.00  |     1,651.46  |    -310.49  |        5.94% |     328.92  |      1.68%
VOD  | Vodafone Grp              | 10,077  | 14,998.48  |    74.6600  |    7,523.49  |     2.17% |  -7,474.99  |      0.00  |     4,274.54  |  -3,200.45  |        5.04% |     379.05  |      1.93%
CCL  | Carnival Corp.            |    384  | 14,979.79  | 1,420.0000  |    5,452.80  |     1.58% |  -9,526.99  |      0.00  |       610.18  |  -8,916.81  |        0.00% |       0.00  |      0.00%
PNN  | Pennon Grp                |  1,316  | 10,670.59  |   548.0000  |    7,211.68  |     2.08% |  -3,458.91  |      0.00  |     2,946.99  |    -511.92  |        8.10% |     583.90  |      2.98%
     |                           |         |            |             |              |           |             |            |               |             |              |             |           
     | Sub Total:                |         |            |             | £342,996.35  |    99.11% | -£3,327.95  | £2,974.83  |               |             |        5.72% | £19,606.83  |           
     | Cash Balance:             |         |            |             |     £114.31  |     0.03% |             |            |               |             |              |             |           
     | Ex Dividend:              |         |            |             |   £2,974.83  |     0.86% |             |            |               |             |              |             |           
     |                           |         |            |             |              |           |             |            |               |             |              |             |           
     | Current Value:            |         |            |             | £346,085.49  |           |             |            |               |             |              |             |           
     | From:                     |         |            |             |              |           |             |            |               |             |              |             |           
     | Cash In:                  |         |            |             | £254,904.77  |           |             |            |               |             |              |             |           
     | LESS Cash Out:            |         |            |             |       £0.00  |           |             |            |               |             |              |             |           
     | Dividends Rec'd:          |         |            |             |  £81,955.01  |           |             |            |               |             |              |             |           
     | Ex Dividend:              |         |            |             |   £2,974.83  |           |             |            |               |             |              |             |           
     | Realised P/L:             | [2]     |            |             |   £9,578.83  |           |             |            |               |             |              |             |           
     | UnRealised P/L:           |         |            |             |  -£3,327.95  |           |             |            |               |             |              |             |           
     |                           |         |            |             |              |   XIRR    |             |            |               |             |              |             |           
     | Total:                    |         |            |             | £346,085.49  |   5.64%   |             |            |               |             |              |             |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)   |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Insurance: Life    | 28,211.60  |  31,190.24  |       9.01% |  2,978.64  |    1,141.31  |       6,195.24  |    10,315.19  |        8.54% |      2,663.59  |         13.59%
Tobacco            | 34,480.55  |  37,094.46  |      10.72% |  2,613.91  |      176.05  |      11,650.72  |    14,440.68  |        8.42% |      3,124.96  |         15.94%
Fund Manager       | 32,665.30  |  25,581.49  |       7.39% | -7,083.81  |      311.32  |       8,730.65  |     1,958.16  |        9.54% |      2,439.73  |         12.44%
Mining             | 24,825.58  |  27,540.57  |       7.96% |  2,714.99  |        0.00  |       9,413.44  |    12,128.43  |        5.52% |      1,519.85  |          7.75%
Oil                | 30,086.07  |  27,142.04  |       7.84% | -2,944.03  |        0.00  |       5,168.04  |     2,224.01  |        5.65% |      1,534.31  |          7.83%
Gambling           | 14,999.32  |  25,203.25  |       7.28% | 10,203.93  |      901.51  |       6,065.29  |    17,170.73  |        5.06% |      1,276.04  |          6.51%
Banks              | 14,998.27  |  16,300.85  |       4.71% |  1,302.58  |        0.00  |       3,490.83  |     4,793.41  |        6.93% |      1,128.85  |          5.76%
Weapons            | 14,995.20  |  38,083.15  |      11.00% | 23,087.95  |        0.00  |       4,327.09  |    27,415.04  |        2.47% |        940.28  |          4.80%
Packaging          | 14,997.11  |  19,688.08  |       5.69% |  4,690.97  |        0.00  |       3,417.83  |     8,108.80  |        3.94% |        775.80  |          3.96%
Advertising        | 14,997.55  |  13,453.24  |       3.89% | -1,544.31  |      267.00  |       3,453.20  |     2,175.89  |        5.21% |        701.32  |          3.58%
Real Estate IT     | 14,993.43  |  10,601.92  |       3.06% | -4,391.51  |        0.00  |       2,874.24  |    -1,517.27  |        5.81% |        615.80  |          3.14%
Utility: Water     | 10,670.59  |   7,211.68  |       2.08% | -3,458.91  |        0.00  |       2,946.99  |      -511.92  |        8.10% |        583.90  |          2.98%
Television         | 14,999.08  |   9,024.47  |       2.61% | -5,974.61  |        0.00  |       2,481.84  |    -3,492.77  |        6.46% |        582.60  |          2.97%
Insurance: NonLife | 20,716.58  |  16,227.42  |       4.69% | -4,489.16  |      177.64  |         711.79  |    -3,599.73  |        3.28% |        532.92  |          2.72%
Pharma             | 11,986.74  |  11,317.60  |       3.27% |   -669.14  |        0.00  |       3,380.90  |     2,711.76  |        3.99% |        451.20  |          2.30%
Telecom: Mobile    | 14,998.48  |   7,523.49  |       2.17% | -7,474.99  |        0.00  |       4,274.54  |    -3,200.45  |        5.04% |        379.05  |          1.93%
Bricks             | 14,999.47  |  10,762.16  |       3.11% | -4,237.31  |        0.00  |       2,111.44  |    -2,125.87  |        2.77% |        298.29  |          1.52%
Medical Products   |  2,723.59  |   3,597.44  |       1.04% |    873.85  |        0.00  |          97.85  |       971.70  |        1.62% |         58.34  |          0.30%
Cruising           | 14,979.79  |   5,452.80  |       1.58% | -9,526.99  |        0.00  |         610.18  |    -8,916.81  |        0.00% |          0.00  |          0.00%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

   Date   | EPIC |         Name            | Real P&L (£) |                Comment                                         
20-Sep-19 | IBST | Ibstock                 |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King             |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp              |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp                 |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva                   |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp                 |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK PLC                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp Ltd |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings           |      399.89  | Return of Capital                                              
          |      |                         |              |                                                                
          |      | Total                   |   £9,578.83  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

Date      | Balance   | Re-Invest?
11-Nov-24 | 3,089.14  |      Y    
10-Dec-24 |   575.41  |      N    
10-Jan-25 | 2,001.64  |      Y    
10-Feb-25 |   624.17  |      N    
10-Mar-25 |   998.69  |      N    
10-Apr-25 | 2,879.67  |      Y    
12-May-25 | 2,728.33  |      Y    
10-Jun-25 | 3,075.08  |      Y    
10-Jul-25 | 1,335.78  |      N    
11-Aug-25 | 2,048.56  |      Y    
10-Sep-25 |   399.14  |      N    
10-Oct-25 | 3,675.12  |      Y

The next Dividend Re-Investment will therefore be on 11 November 2024 when £3,089.14 is currently forecast to be available for re-investment. At the moment of course, it looks as if the decision will once again be either Phoenix Grp Holdings (PHNX), or else M & G PLC (MNG), assuming no Income or Value Concentration limits are broken. PHNX is currently offered at a higher yield.

However, there is a month to wait during which much could change. As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Other Actions Required

1. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small residue. It is intended that IP will have a secondary listing in London, so this holding will be maintained going forward.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian

IanTHughes · #689339

Imminent de-listing of Woodside Energy Group (WDS) shares from the London Stock Exchange (LSE).

https://www.investegate.co.uk/announcem ... se/8488300

The holding of WDS within this “virtual” portfolio will be sold, with the sale proceeds being added to the dividend amounts to be re-invested in due course.

WDS is held within my own High Yield Portfolio (HYP), as well as other “real” portfolios under my control, and it is my intention that such holdings be sold in due course. These sales will take place on or before Friday 8 November 2024, with the sales proceeds being made available for re-investment on Monday 11 November 2024. Once these “real” holdings have been sold, the price achieved for such sales will be used to calculate the sale proceeds within this “virtual” portfolio.

The sale proceeds, currently expected to be just under £9,400, will be added to the amount already planned to be re-invested on 11 November 2024. On the weekend of the 9/10 November, I shall report my decision as to the purchase to be made in the usual manner. This purchase will go forward on Monday 11 November 2024.

Enjoy!

Ian.

IanTHughes · #694144

Year Six: Dividend Re-Investment – due on 11 November 2024 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

WDS Sale pending its De-Listing from the LSE: Transaction Details

With the imminent de-listing from the LSE of Woodside Energy Group (WDS), the holding of WDS has been sold as follows:

Date      | Business | EPIC | Buy/Sell | #     | Price (p)  | Cash (£)  | Fee (£) | Net (£)   |         Comment                 
07-Nov-24 | Oil      | WDS  | Sell     | -737  | 1,239.5415 | 9,135.42  |  -5.00  | 9,130.42  | Sale Pending De-Listing from LSE

The sale price assumed was the average of that achieved for a couple of “real” portfolios under my management.

Current Portfolio: Holdings

EPIC |         Company             | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)    | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
HSBA | HSBC Holdings               |  2,425  | 14,998.27  |   690.0000  |   16,732.50  |     4.79% |  1,734.23  |    187.30  |     3,490.83  |   5,412.36  |        6.83% |   1,142.54  |      6.19%
IMB  | Imperial Brands             |  1,283  | 26,121.51  | 2,367.0000  |   30,368.61  |     8.70% |  4,247.10  |      0.00  |     8,856.34  |  13,103.44  |        6.48% |   1,968.38  |     10.66%
BATS | British American Tobacco    |    299  |  8,359.04  | 2,733.0000  |    8,171.67  |     2.34% |   -187.37  |      0.00  |     2,970.43  |   2,783.06  |        8.62% |     704.20  |      3.81%
WPP  | WPP                         |  1,780  | 14,997.55  |   846.2000  |   15,062.36  |     4.32% |     64.81  |      0.00  |     3,720.20  |   3,785.01  |        4.66% |     701.32  |      3.80%
ITV  | ITV                         | 11,652  | 14,999.08  |    63.0000  |    7,340.76  |     2.10% | -7,658.32  |    198.08  |     2,481.84  |  -4,978.40  |        7.94% |     582.60  |      3.15%
MNG  | M & G                       |  6,393  | 13,027.21  |   194.2000  |   12,415.19  |     3.56% |   -612.02  |      0.00  |     2,628.04  |   2,016.02  |       10.30% |   1,278.60  |      6.92%
ABDN | Abrdn                       |  7,953  | 19,638.09  |   137.3500  |   10,923.44  |     3.13% | -8,714.65  |      0.00  |     6,413.93  |  -2,300.72  |       10.63% |   1,161.13  |      6.29%
IGG  | IG Grp Holdings             |  2,762  | 14,999.32  |   916.0000  |   25,299.92  |     7.25% | 10,300.60  |      0.00  |     6,966.80  |  17,267.40  |        5.04% |   1,276.04  |      6.91%
HLN  | Haleon                      |    941  |  2,723.59  |   363.3000  |    3,418.65  |     0.98% |    695.06  |      0.00  |        97.85  |     792.91  |        1.71% |      58.34  |      0.32%
GSK  | GSK                         |    752  | 11,986.74  | 1,381.0000  |   10,385.12  |     2.98% | -1,601.62  |      0.00  |     3,380.90  |   1,779.28  |        4.34% |     451.20  |      2.44%
IBST | Ibstock                     |  5,849  | 14,999.47  |   192.0000  |   11,230.08  |     3.22% | -3,769.39  |      0.00  |     2,111.44  |  -1,657.95  |        2.66% |     298.29  |      1.62%
SMDS | DS Smith                    |  4,310  | 14,997.11  |   565.5000  |   24,373.05  |     6.98% |  9,375.94  |      0.00  |     3,417.83  |  12,793.77  |        3.18% |     775.80  |      4.20%
BA   | BAE Systems                 |  3,043  | 14,995.20  | 1,377.5000  |   41,917.33  |    12.01% | 26,922.13  |    377.33  |     4,327.09  |  31,626.55  |        2.24% |     940.28  |      5.09%
AV   | Aviva                       |  3,663  | 14,970.64  |   456.2000  |   16,710.60  |     4.79% |  1,739.96  |      0.00  |     6,313.20  |   8,053.16  |        7.50% |   1,252.74  |      6.78%
PHNX | Phoenix Grp Holdings        |  2,647  | 13,240.96  |   490.4000  |   12,980.88  |     3.72% |   -260.08  |      0.00  |     1,023.35  |     763.27  |       10.87% |   1,410.85  |      7.64%
DLG  | Direct Line Insurance Grp   |  8,882  | 20,716.58  |   165.2000  |   14,673.06  |     4.20% | -6,043.52  |      0.00  |       889.43  |  -5,154.09  |        3.63% |     532.92  |      2.89%
BLND | British Land Company        |  1,273  |  7,494.24  |   386.6000  |    4,921.42  |     1.41% | -2,572.82  |      0.00  |     1,350.77  |  -1,222.05  |        5.90% |     290.24  |      1.57%
LAND | Land Securities Grp         |    818  |  7,499.19  |   593.0000  |    4,850.74  |     1.39% | -2,648.45  |      0.00  |     1,523.47  |  -1,124.98  |        6.71% |     325.56  |      1.76%
BHP  | BHP Grp                     |    838  | 14,992.51  | 2,135.0000  |   17,891.30  |     5.13% |  2,898.79  |      0.00  |     6,885.02  |   9,783.81  |        5.28% |     944.99  |      5.12%
RIO  | Rio Tinto                   |    173  |  9,833.07  | 4,946.0000  |    8,556.58  |     2.45% | -1,276.49  |      0.00  |     2,528.42  |   1,251.93  |        6.88% |     589.03  |      3.19%
SHEL | Shell                       |    457  |  9,626.22  | 2,564.5000  |   11,719.77  |     3.36% |  2,093.55  |      0.00  |     2,085.48  |   4,179.03  |        4.14% |     485.69  |      2.63%
BP   | BP                          |  1,347  |  7,496.10  |   373.3000  |    5,028.35  |     1.44% | -2,467.75  |     83.23  |     1,651.46  |    -733.06  |        6.62% |     332.92  |      1.80%
VOD  | Vodafone Grp                | 10,077  | 14,998.48  |    72.0400  |    7,259.47  |     2.08% | -7,739.01  |      0.00  |     4,274.54  |  -3,464.47  |        5.23% |     379.92  |      2.06%
CCL  | Carnival Corp.              |    384  | 14,979.79  | 1,680.0000  |    6,451.20  |     1.85% | -8,528.59  |      0.00  |       610.18  |  -7,918.41  |        0.00% |       0.00  |      0.00%
PNN  | Pennon Grp                  |  1,316  | 10,670.59  |   553.5000  |    7,284.06  |     2.09% | -3,386.53  |      0.00  |     2,946.99  |    -439.54  |        8.02% |     583.90  |      3.16%
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Sub Total:                  |         |            |             | £335,966.11  |    96.26% | £2,605.56  |   £845.94  |               |             |        5.50% | £18,467.48  |           
     | Cash Balance:               |         |            |             |  £12,219.56  |     3.50% |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £845.94  |     0.24% |            |            |               |             |              |             |           
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Current Value:              |         |            |             | £349,031.61  |           |            |            |               |             |              |             |           
     | From:                       |         |            |             |              |           |            |            |               |             |              |             |           
     | Cash In:                    |         |            |             | £254,904.77  |           |            |            |               |             |              |             |           
     | LESS Cash Out:              |         |            |             |       £0.00  |           |            |            |               |             |              |             |           
     | Dividends Rec'd:            |         |            |             |  £84,929.84  |           |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £845.94  |           |            |            |               |             |              |             |           
     | Realised P/L:               | [2]     |            |             |   £5,745.50  |           |            |            |               |             |              |             |           
     | UnRealised P/L:             |         |            |             |   £2,605.56  |           |            |            |               |             |              |             |           
     |                             |         |            |             |              |   XIRR    |            |            |               |             |              |             |           
     | Total:                      |         |            |             | £349,031.61  |   5.72%   |            |            |               |             |              |             |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)   |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Tobacco            | 34,480.55  |  38,540.28  |      11.04% |  4,059.73  |        0.00  |      11,826.77  |    15,886.50  |        6.93% |      2,672.58  |         14.47%
Insurance: Life    | 28,211.60  |  29,691.48  |       8.51% |  1,479.88  |        0.00  |       7,336.55  |     8,816.43  |        8.97% |      2,663.59  |         14.42%
Fund Manager       | 32,665.30  |  23,338.63  |       6.69% | -9,326.67  |        0.00  |       9,041.97  |      -284.70  |       10.45% |      2,439.73  |         13.21%
Oil                | 17,122.32  |  16,748.12  |       4.80% |   -374.20  |       83.23  |       3,736.94  |     3,445.97  |        4.89% |        818.61  |          4.43%
Mining             | 24,825.58  |  26,447.88  |       7.58% |  1,622.30  |        0.00  |       9,413.44  |    11,035.74  |        5.80% |      1,534.02  |          8.31%
Gambling           | 14,999.32  |  25,299.92  |       7.25% | 10,300.60  |        0.00  |       6,966.80  |    17,267.40  |        5.04% |      1,276.04  |          6.91%
Banks              | 14,998.27  |  16,732.50  |       4.79% |  1,734.23  |      187.30  |       3,490.83  |     5,412.36  |        6.83% |      1,142.54  |          6.19%
Weapons            | 14,995.20  |  41,917.33  |      12.01% | 26,922.13  |      377.33  |       4,327.09  |    31,626.55  |        2.24% |        940.28  |          5.09%
Packaging          | 14,997.11  |  24,373.05  |       6.98% |  9,375.94  |        0.00  |       3,417.83  |    12,793.77  |        3.18% |        775.80  |          4.20%
Advertising        | 14,997.55  |  15,062.36  |       4.32% |     64.81  |        0.00  |       3,720.20  |     3,785.01  |        4.66% |        701.32  |          3.80%
Real Estate IT     | 14,993.43  |   9,772.16  |       2.80% | -5,221.27  |        0.00  |       2,874.24  |    -2,347.03  |        6.30% |        615.80  |          3.33%
Utility: Water     | 10,670.59  |   7,284.06  |       2.09% | -3,386.53  |        0.00  |       2,946.99  |      -439.54  |        8.02% |        583.90  |          3.16%
Television         | 14,999.08  |   7,340.76  |       2.10% | -7,658.32  |      198.08  |       2,481.84  |    -4,978.40  |        7.94% |        582.60  |          3.15%
Insurance: NonLife | 20,716.58  |  14,673.06  |       4.20% | -6,043.52  |        0.00  |         889.43  |    -5,154.09  |        3.63% |        532.92  |          2.89%
Pharma             | 11,986.74  |  10,385.12  |       2.98% | -1,601.62  |        0.00  |       3,380.90  |     1,779.28  |        4.34% |        451.20  |          2.44%
Telecom: Mobile    | 14,998.48  |   7,259.47  |       2.08% | -7,739.01  |        0.00  |       4,274.54  |    -3,464.47  |        5.23% |        379.92  |          2.06%
Bricks             | 14,999.47  |  11,230.08  |       3.22% | -3,769.39  |        0.00  |       2,111.44  |    -1,657.95  |        2.66% |        298.29  |          1.62%
Medical Products   |  2,723.59  |   3,418.65  |       0.98% |    695.06  |        0.00  |          97.85  |       792.91  |        1.71% |         58.34  |          0.32%
Cruising           | 14,979.79  |   6,451.20  |       1.85% | -8,528.59  |        0.00  |         610.18  |    -7,918.41  |        0.00% |          0.00  |          0.00%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                | Real P&L (£) | Comment                                                        
20-Sep-19 | IBST | Ibstock             |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King         |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp          |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp             |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva               |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp             |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings       |      399.89  | Return of Capital                                              
07-Nov-24 | WDS  | Woodside Energy Grp |   -3,833.33  | Sale pending De-Listing from LSE                               
          |      |                     |              |                                                                
          |      | Total               |   £5,745.50  |

Capital/Dividend Re-Investment: 11 November 2024

As at the close of business on Friday 8 November 2024, the amount available for re-investment was £12,219.56. This amount, made up from the sale of the soon-to-be de-listed Woodside Energy Group (WDS) shares - £9,130.42 - together with dividends received over the past month - £3,089.14 - will be used to invest in the portfolio on Monday 11 November 2024.

I have decided to limit Income Concentration as follows:

Holding Income Concentration – 10%
Sector Income Concentration – 15%

I do not intend to allow any Re-Investment that would breech either of those two limits.

Candidates
Apart from the Income Concentration Limits mentioned above, I am not one to place a limit on the yield being purchased. HYP is first and foremost an income strategy, so I do not countenance any novice investor idea of limiting the yield purchased to twice the number you first thought of, after stepping off the scales this morning! I am simply looking for the “Highest Sustainable Yield”, subject only to appropriate diversification being maintained.

To this end, the following candidates were listed for consideration:

EPIC | Company                     | Reward (%) | Decision     | Comments                                                         
PHNX | Phoenix Grp Holdings        |     10.87% | Disqualified | Holding Income Concentration (13.81%) over limit                 
ABDN | Abrdn                       |     10.63% | Disqualified | Holding Income Concentration (12.42%) over limit                 
MNG  | M & G                       |     10.30% | Disqualified | Holding Income Concentration (12.83%) over limit                 
BATS | British American Tobacco    |      8.62% | Disqualified | Sector Income Concentration (19.06%) over limit                  
UKW  | Greencoat UK Wind           |      8.31% | Possible     | Holding/Sector Income Concentrations (5.19%)/(5.19%) within limit
ITV  | ITV                         |      7.94% | Possible     | Holding/Sector Income Concentrations (7.97%)/(7.97%) within limit
TRIG | The Renew. Infrastruct. Grp |      7.90% | Possible     | Holding/Sector Income Concentrations (4.94%)/(4.94%) within limit

As a result of the sale of WDS, the amount being re-invested is much larger than is normally the case, and none of the higher-yield options will allow such an amount without breeching one or both of by Income Concentration limits. I could no doubt split the amount amongst the higher-yield options but I have decided to invest this larger amount into a new Business Sector – Utility: Renewable. The re-investment will be split between:

Greencoat UK Wind (UKW) – Yield 8.31%
and
The Renew. Infrastruct. Grp (TRIG) – Yield 7.90%

It is possible that, on the same day, I shall be making a purchase of one or both of the above two shares for one of the “real” portfolios under my control, and therefore, if so, the price to be applied for this “virtual” purchase will be the same price that I achieve for my “real” purchase. Whatever happens, I shall post an update when the details of the purchase are known.

________
Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian.

IanTHughes · #694646

Year Six: WDS De-Listing - Re-Investment Purchase: 11 November 2024

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Dividend Re-Investment Purchase: Transaction Details

The Re-Investment indicated in the previous post has now been made as follows, with two thirds of the total being invested in the higher of the two yields:

  Date    |    Business        | EPIC | Buy/Sell | Shares (#) | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) |         Comment                 
11-Nov-24 | Utility: Renewable | TRIG |   Buy    |     4,300  |  94.6465  | -4,069.80  |     0.00  |  -1.50  | -4,071.30  |   7.82%   | Re-Invest proceeds from WDS Sale
11-Nov-24 | Utility: Renewable | UKW  |   Buy    |     6,155  | 131.6768  | -8,104.71  |   -40.52  |  -1.50  | -8,146.73  |   8.30%   | Re-Invest proceeds from WDS Sale

The price achieved for UKW is the price achieved for a purchase within a “real” HYP portfolio, managed by myself. The price achieved for TRIG is the Mid Price for the day, calculated by halving the sum of the day’s High Price and Low Price.

Current Portfolio: Holdings

EPIC |         Company             | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)    | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
HSBA | HSBC Holdings               |  2,425  | 14,998.27  |   699.2000  |   16,955.60  |     4.84% |  1,957.33  |    187.98  |     3,490.83  |   5,636.14  |        6.76% |   1,146.70  |      5.89%
IMB  | Imperial Brands             |  1,283  | 26,121.51  | 2,351.0000  |   30,163.33  |     8.62% |  4,041.82  |      0.00  |     8,856.34  |  12,898.16  |        6.53% |   1,968.38  |     10.11%
BATS | British American Tobacco    |    299  |  8,359.04  | 2,740.0000  |    8,192.60  |     2.34% |   -166.44  |      0.00  |     2,970.43  |   2,803.99  |        8.60% |     704.20  |      3.62%
WPP  | WPP                         |  1,780  | 14,997.55  |   851.6000  |   15,158.48  |     4.33% |    160.93  |      0.00  |     3,720.20  |   3,881.13  |        4.63% |     701.32  |      3.60%
ITV  | ITV                         | 11,652  | 14,999.08  |    63.4500  |    7,393.19  |     2.11% | -7,605.89  |    198.08  |     2,481.84  |  -4,925.97  |        7.88% |     582.60  |      2.99%
MNG  | M & G                       |  6,393  | 13,027.21  |   198.7000  |   12,702.89  |     3.63% |   -324.32  |      0.00  |     2,628.04  |   2,303.72  |       10.07% |   1,278.60  |      6.57%
ABDN | Abrdn                       |  7,953  | 19,638.09  |   138.8500  |   11,042.74  |     3.15% | -8,595.35  |      0.00  |     6,413.93  |  -2,181.42  |       10.51% |   1,161.13  |      5.96%
IGG  | IG Grp Holdings             |  2,762  | 14,999.32  |   929.5000  |   25,672.79  |     7.33% | 10,673.47  |      0.00  |     6,966.80  |  17,640.27  |        4.97% |   1,276.04  |      6.55%
HLN  | Haleon                      |    941  |  2,723.59  |   363.7000  |    3,422.42  |     0.98% |    698.83  |      0.00  |        97.85  |     796.68  |        1.70% |      58.34  |      0.30%
GSK  | GSK                         |    752  | 11,986.74  | 1,397.0000  |   10,505.44  |     3.00% | -1,481.30  |      0.00  |     3,380.90  |   1,899.60  |        4.29% |     451.20  |      2.32%
IBST | Ibstock                     |  5,849  | 14,999.47  |   194.6000  |   11,382.15  |     3.25% | -3,617.32  |      0.00  |     2,111.44  |  -1,505.88  |        2.62% |     298.29  |      1.53%
SMDS | DS Smith                    |  4,310  | 14,997.11  |   564.5000  |   24,329.95  |     6.95% |  9,332.84  |      0.00  |     3,417.83  |  12,750.67  |        3.19% |     775.80  |      3.98%
BA   | BAE Systems                 |  3,043  | 14,995.20  | 1,393.5000  |   42,404.21  |    12.11% | 27,409.01  |    377.33  |     4,327.09  |  32,113.43  |        2.22% |     940.28  |      4.83%
AV   | Aviva                       |  3,663  | 14,970.64  |   459.5000  |   16,831.50  |     4.81% |  1,860.86  |      0.00  |     6,313.20  |   8,174.06  |        7.44% |   1,252.74  |      6.43%
PHNX | Phoenix Grp Holdings        |  2,647  | 13,240.96  |   492.0000  |   13,023.24  |     3.72% |   -217.72  |      0.00  |     1,023.35  |     805.63  |       10.83% |   1,410.85  |      7.25%
DLG  | Direct Line Insurance Grp   |  8,882  | 20,716.58  |   160.6000  |   14,264.49  |     4.07% | -6,452.09  |      0.00  |       889.43  |  -5,562.66  |        3.74% |     532.92  |      2.74%
BLND | British Land Company        |  1,273  |  7,494.24  |   386.0000  |    4,913.78  |     1.40% | -2,580.46  |      0.00  |     1,350.77  |  -1,229.69  |        5.91% |     290.24  |      1.49%
LAND | Land Securities Grp         |    818  |  7,499.19  |   594.0000  |    4,858.92  |     1.39% | -2,640.27  |      0.00  |     1,523.47  |  -1,116.80  |        6.70% |     325.56  |      1.67%
BHP  | BHP Grp                     |    838  | 14,992.51  | 2,091.0000  |   17,522.58  |     5.01% |  2,530.07  |      0.00  |     6,885.02  |   9,415.09  |        5.41% |     948.43  |      4.87%
RIO  | Rio Tinto                   |    173  |  9,833.07  | 4,850.0000  |    8,390.50  |     2.40% | -1,442.57  |      0.00  |     2,528.42  |   1,085.85  |        7.03% |     589.89  |      3.03%
SHEL | Shell                       |    457  |  9,626.22  | 2,550.0000  |   11,653.50  |     3.33% |  2,027.28  |      0.00  |     2,085.48  |   4,112.76  |        4.18% |     487.46  |      2.50%
BP   | BP                          |  1,347  |  7,496.10  |   373.0000  |    5,024.31  |     1.44% | -2,471.79  |     83.53  |     1,651.46  |    -736.80  |        6.65% |     334.12  |      1.72%
VOD  | Vodafone Grp                | 10,077  | 14,998.48  |    73.0000  |    7,356.21  |     2.10% | -7,642.27  |      0.00  |     4,274.54  |  -3,367.73  |        5.12% |     376.63  |      1.93%
CCL  | Carnival Corp.              |    384  | 14,979.79  | 1,708.5000  |    6,560.64  |     1.87% | -8,419.15  |      0.00  |       610.18  |  -7,808.97  |        0.00% |       0.00  |      0.00%
UKW  | Greencoat UK Wind           |  6,155  |  8,146.73  |   132.1000  |    8,130.76  |     2.32% |    -15.97  |      0.00  |         0.00  |     -15.97  |        8.27% |     672.74  |      3.46%
TRIG | The Renew. Infrastruct. Grp |  4,300  |  4,071.30  |    94.3000  |    4,054.90  |     1.16% |    -16.40  |      0.00  |         0.00  |     -16.40  |        7.92% |     321.21  |      1.65%
PNN  | Pennon Grp                  |  1,316  | 10,670.59  |   560.5000  |    7,376.18  |     2.11% | -3,294.41  |      0.00  |     2,946.99  |    -347.42  |        7.92% |     583.90  |      3.00%
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Sub Total:                  |         |            |             | £349,287.30  |    99.76% | £3,708.72  |   £846.92  |               |             |        5.57% | £19,469.57  |           
     | Cash Balance:               |         |            |             |       £1.53  |     0.00% |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £846.92  |     0.24% |            |            |               |             |              |             |           
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Current Value:              |         |            |             | £350,135.75  |           |            |            |               |             |              |             |           
     | From:                       |         |            |             |              |           |            |            |               |             |              |             |           
     | Cash In:                    |         |            |             | £254,904.77  |           |            |            |               |             |              |             |           
     | LESS Cash Out:              |         |            |             |       £0.00  |           |            |            |               |             |              |             |           
     | Dividends Rec'd:            |         |            |             |  £84,929.84  |           |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £846.92  |           |            |            |               |             |              |             |           
     | Realised P/L:               | [2]     |            |             |   £5,745.50  |           |            |            |               |             |              |             |           
     | UnRealised P/L:             |         |            |             |   £3,708.72  |           |            |            |               |             |              |             |           
     |                             |         |            |             |              |   XIRR    |            |            |               |             |              |             |           
     | Total:                      |         |            |             | £350,135.75  |   5.77%   |            |            |               |             |              |             |

Current Portfolio: Business Sectors

     Business      |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)   |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Tobacco            | 34,480.55  |  38,355.93  |      10.95% |  3,875.38  |        0.00  |      11,826.77  |    15,702.15  |        6.97% |      2,672.58  |         13.73%
Insurance: Life    | 28,211.60  |  29,854.74  |       8.53% |  1,643.14  |        0.00  |       7,336.55  |     8,979.69  |        8.92% |      2,663.59  |         13.68%
Fund Manager       | 32,665.30  |  23,745.63  |       6.78% | -8,919.67  |        0.00  |       9,041.97  |       122.30  |       10.27% |      2,439.73  |         12.53%
Oil                | 17,122.32  |  16,677.81  |       4.76% |   -444.51  |       83.53  |       3,736.94  |     3,375.96  |        4.93% |        821.58  |          4.22%
Mining             | 24,825.58  |  25,913.08  |       7.40% |  1,087.50  |        0.00  |       9,413.44  |    10,500.94  |        5.94% |      1,538.32  |          7.90%
Gambling           | 14,999.32  |  25,672.79  |       7.33% | 10,673.47  |        0.00  |       6,966.80  |    17,640.27  |        4.97% |      1,276.04  |          6.55%
Banks              | 14,998.27  |  16,955.60  |       4.84% |  1,957.33  |      187.98  |       3,490.83  |     5,636.14  |        6.76% |      1,146.70  |          5.89%
Weapons            | 14,995.20  |  42,404.21  |      12.11% | 27,409.01  |      377.33  |       4,327.09  |    32,113.43  |        2.22% |        940.28  |          4.83%
Packaging          | 14,997.11  |  24,329.95  |       6.95% |  9,332.84  |        0.00  |       3,417.83  |    12,750.67  |        3.19% |        775.80  |          3.98%
Advertising        | 14,997.55  |  15,158.48  |       4.33% |    160.93  |        0.00  |       3,720.20  |     3,881.13  |        4.63% |        701.32  |          3.60%
Real Estate IT     | 14,993.43  |   9,772.70  |       2.79% | -5,220.73  |        0.00  |       2,874.24  |    -2,346.49  |        6.30% |        615.80  |          3.16%
Utility: Water     | 10,670.59  |   7,376.18  |       2.11% | -3,294.41  |        0.00  |       2,946.99  |      -347.42  |        7.92% |        583.90  |          3.00%
Television         | 14,999.08  |   7,393.19  |       2.11% | -7,605.89  |      198.08  |       2,481.84  |    -4,925.97  |        7.88% |        582.60  |          2.99%
Insurance: NonLife | 20,716.58  |  14,264.49  |       4.07% | -6,452.09  |        0.00  |         889.43  |    -5,562.66  |        3.74% |        532.92  |          2.74%
Pharma             | 11,986.74  |  10,505.44  |       3.00% | -1,481.30  |        0.00  |       3,380.90  |     1,899.60  |        4.29% |        451.20  |          2.32%
Telecom: Mobile    | 14,998.48  |   7,356.21  |       2.10% | -7,642.27  |        0.00  |       4,274.54  |    -3,367.73  |        5.12% |        376.63  |          1.93%
Bricks             | 14,999.47  |  11,382.15  |       3.25% | -3,617.32  |        0.00  |       2,111.44  |    -1,505.88  |        2.62% |        298.29  |          1.53%
Medical Products   |  2,723.59  |   3,422.42  |       0.98% |    698.83  |        0.00  |          97.85  |       796.68  |        1.70% |         58.34  |          0.30%
Cruising           | 14,979.79  |   6,560.64  |       1.87% | -8,419.15  |        0.00  |         610.18  |    -7,808.97  |        0.00% |          0.00  |          0.00%
Utility: Renewable | 12,218.03  |  12,185.66  |       3.48% |    -32.37  |        0.00  |           0.00  |       -32.37  |        8.16% |        993.95  |          5.11%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

   Date   | EPIC |      Name           | Real P&L (£) |                  Comment                                       
20-Sep-19 | IBST | Ibstock             |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King         |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp          |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp             |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva               |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp             |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings       |      399.89  | Return of Capital                                              
07-Nov-24 | WDS  | Woodside Energy Grp |   -3,833.33  | Sale pending De-Listing from LSE                               
          |      |                     |              |                                                                
          |      | Total               |   £5,745.50  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

   Date   | Balance   | Re-Invest?
10-Dec-24 |   730.50  |      N    
10-Jan-25 | 2,243.10  |      Y    
10-Feb-25 |   622.96  |      N    
10-Mar-25 | 1,208.56  |      N    
10-Apr-25 | 2,842.82  |      Y    
12-May-25 | 2,737.41  |      Y    
10-Jun-25 | 3,228.93  |      Y    
10-Jul-25 | 1,422.15  |      N    
11-Aug-25 | 2,133.72  |      Y    
10-Sep-25 |   552.99  |      N    
10-Oct-25 | 3,538.46  |      Y    
10-Nov-25 | 3,198.24  |      Y

The next Dividend Re-Investment will therefore be on 10 January 2025 when £2,243.1 is currently forecast to be available for re-investment. At the moment it looks as if the decision will be one of Phoenix Grp Holdings (PHNX), abdn PLC (ABDN) or M & G PLC (MNG), assuming no Income or Value Concentration limits are broken. PHNX is currently offered at a higher yield.

However, there is a month to wait during which much could change. As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Other Actions Required

1. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small residue. It is intended that IP will have a secondary listing in London, so this holding will be maintained going forward.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian.

IanTHughes · #703850

Year Six: Dividend Re-Investment – due on 10 January 2025 – Decision

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140 and subsequently managed by myself.

Further details of how updates are to be made to this portfolio can be found on this thread: viewtopic.php?p=218513#p218513

Current Portfolio: Holdings

EPIC | Company                     | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)     | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
HSBA | HSBC Holdings               |  2,425  | 14,998.27  |   782.3000  |   18,970.78  |     5.29% |   3,972.51  |      0.00  |     3,680.67  |   7,653.18  |        6.21% |   1,177.65  |      6.02%
IMB  | Imperial Brands             |  1,283  | 26,121.51  | 2,604.0000  |   33,409.32  |     9.31% |   7,287.81  |      0.00  |     9,552.49  |  16,840.30  |        5.89% |   1,968.38  |     10.06%
BATS | British American Tobacco    |    299  |  8,359.04  | 2,973.0000  |    8,889.27  |     2.48% |     530.23  |    176.05  |     2,970.43  |   3,676.71  |        7.92% |     704.20  |      3.60%
WPP  | WPP                         |  1,780  | 14,997.55  |   814.0000  |   14,489.20  |     4.04% |    -508.35  |      0.00  |     3,720.20  |   3,211.85  |        4.84% |     701.32  |      3.58%
ITV  | ITV                         | 11,652  | 14,999.08  |    72.6000  |    8,459.35  |     2.36% |  -6,539.73  |      0.00  |     2,679.92  |  -3,859.81  |        6.89% |     582.60  |      2.98%
MNG  | M & G                       |  6,393  | 13,027.21  |   198.6500  |   12,699.70  |     3.54% |    -327.51  |      0.00  |     2,628.04  |   2,300.53  |       10.07% |   1,278.60  |      6.53%
ABDN | Abrdn                       |  7,953  | 19,638.09  |   140.8000  |   11,197.82  |     3.12% |  -8,440.27  |      0.00  |     6,413.93  |  -2,026.34  |       10.37% |   1,161.13  |      5.93%
IGG  | IG Grp Holdings             |  2,762  | 14,999.32  |   997.0000  |   27,537.14  |     7.67% |  12,537.82  |      0.00  |     6,966.80  |  19,504.62  |        4.63% |   1,276.04  |      6.52%
HLN  | Haleon                      |    941  |  2,723.59  |   378.1000  |    3,557.92  |     0.99% |     834.33  |      0.00  |        97.85  |     932.18  |        1.64% |      58.34  |      0.30%
GSK  | GSK                         |    752  | 11,986.74  | 1,340.0000  |   10,076.80  |     2.81% |  -1,909.94  |    112.80  |     3,380.90  |   1,583.76  |        4.48% |     451.20  |      2.31%
IBST | Ibstock                     |  5,849  | 14,999.47  |   174.8000  |   10,224.05  |     2.85% |  -4,775.42  |      0.00  |     2,111.44  |  -2,663.98  |        2.92% |     298.29  |      1.52%
SMDS | DS Smith                    |  4,310  | 14,997.11  |   546.0000  |   23,532.60  |     6.56% |   8,535.49  |    267.22  |     3,417.83  |  12,220.54  |        3.33% |     784.42  |      4.01%
BA   | BAE Systems                 |  3,043  | 14,995.20  | 1,153.0000  |   35,085.79  |     9.78% |  20,090.59  |      0.00  |     4,704.42  |  24,795.01  |        2.68% |     940.28  |      4.80%
AV   | Aviva                       |  3,663  | 14,970.64  |   474.5000  |   17,380.95  |     4.84% |   2,410.31  |      0.00  |     6,313.20  |   8,723.51  |        7.21% |   1,252.74  |      6.40%
PHNX | Phoenix Grp Holdings        |  2,647  | 13,240.96  |   510.5000  |   13,512.95  |     3.77% |     271.99  |      0.00  |     1,023.35  |   1,295.34  |       10.44% |   1,410.85  |      7.21%
DLG  | Direct Line Insurance Grp   |  8,882  | 20,716.58  |   256.0000  |   22,737.92  |     6.34% |   2,021.34  |      0.00  |       889.43  |   2,910.77  |        2.34% |     532.92  |      2.72%
BLND | British Land Company        |  1,273  |  7,494.24  |   362.4000  |    4,613.35  |     1.29% |  -2,880.89  |    155.81  |     1,350.77  |  -1,374.31  |        6.31% |     291.26  |      1.49%
LAND | Land Securities Grp         |    818  |  7,499.19  |   579.5000  |    4,740.31  |     1.32% |  -2,758.88  |     76.89  |     1,523.47  |  -1,158.52  |        6.90% |     327.20  |      1.67%
BHP  | BHP Grp                     |    838  | 14,992.51  | 1,965.0000  |   16,466.70  |     4.59% |   1,474.19  |      0.00  |     6,885.02  |   8,359.21  |        5.92% |     974.03  |      4.98%
RIO  | Rio Tinto                   |    173  |  9,833.07  | 4,698.0000  |    8,127.54  |     2.26% |  -1,705.53  |      0.00  |     2,528.42  |     822.89  |        7.34% |     596.30  |      3.05%
SHEL | Shell                       |    457  |  9,626.22  | 2,566.5000  |   11,728.91  |     3.27% |   2,102.69  |      0.00  |     2,209.00  |   4,311.69  |        4.27% |     500.62  |      2.56%
BP   | BP                          |  1,347  |  7,496.10  |   407.9500  |    5,495.09  |     1.53% |  -2,001.01  |      0.00  |     1,736.26  |    -264.75  |        6.24% |     343.12  |      1.75%
VOD  | Vodafone Grp                | 10,077  | 14,998.48  |    68.6200  |    6,914.84  |     1.93% |  -8,083.64  |    188.04  |     4,274.54  |  -3,621.06  |        5.44% |     376.09  |      1.92%
CCL  | Carnival Corp.              |    384  | 14,979.79  | 1,765.5000  |    6,779.52  |     1.89% |  -8,200.27  |      0.00  |       610.18  |  -7,590.09  |        0.00% |       0.00  |      0.00%
UKW  | Greencoat UK Wind           |  6,155  |  8,146.73  |   131.1000  |    8,069.21  |     2.25% |     -77.52  |      0.00  |       153.87  |      76.35  |        8.34% |     672.74  |      3.44%
TRIG | The Renew. Infrastruct. Grp |  4,300  |  4,071.30  |    88.2000  |    3,792.60  |     1.06% |    -278.70  |      0.00  |        80.30  |    -198.40  |        8.47% |     321.21  |      1.64%
PNN  | Pennon Grp                  |  1,316  | 10,670.59  |   575.0000  |    7,567.00  |     2.11% |  -3,103.59  |      0.00  |     2,946.99  |    -156.60  |        7.83% |     592.46  |      3.03%
     |                             |         |            |             |              |           |             |            |               |             |              |             |           
     |                             |         |            |             |              |           |             |            |               |             |              |             |           
     | Sub Total:                  |         |            |             | £356,056.63  |    99.20% | £10,478.05  |   £976.81  |               |             |        5.50% | £19,573.99  |           
     | Cash Balance:               |         |            |             |   £1,905.42  |     0.53% |             |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £976.81  |     0.27% |             |            |               |             |              |             |           
     |                             |         |            |             |              |           |             |            |               |             |              |             |           
     | Current Value:              |         |            |             | £358,938.86  |           |             |            |               |             |              |             |           
     | From:                       |         |            |             |              |           |             |            |               |             |              |             |           
     | Cash In:                    |         |            |             | £254,904.77  |           |             |            |               |             |              |             |           
     | LESS Cash Out:              |         |            |             |       £0.00  |           |             |            |               |             |              |             |           
     | Dividends Rec'd:            |         |            |             |  £86,833.73  |           |             |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £976.81  |           |             |            |               |             |              |             |           
     | Realised P/L:               | [2]     |            |             |   £5,745.50  |           |             |            |               |             |              |             |           
     | UnRealised P/L:             |         |            |             |  £10,478.05  |           |             |            |               |             |              |             |           
     |                             |         |            |             |              | XIRR      |             |            |               |             |              |             |           
     | Total:                      |         |            |             | £358,938.86  |     6.08% |             |            |               |             |              |             |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)   |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Tobacco            | 34,480.55  |  42,298.59  |      11.78% |  7,818.04  |      176.05  |      12,522.92  |    20,517.01  |        6.32% |      2,672.58  |         13.65%
Insurance: Life    | 28,211.60  |  30,893.90  |       8.61% |  2,682.30  |        0.00  |       7,336.55  |    10,018.85  |        8.62% |      2,663.59  |         13.61%
Fund Manager       | 32,665.30  |  23,897.52  |       6.66% | -8,767.78  |        0.00  |       9,041.97  |       274.19  |       10.21% |      2,439.73  |         12.46%
Mining             | 24,825.58  |  24,594.24  |       6.85% |   -231.34  |        0.00  |       9,413.44  |     9,182.10  |        6.38% |      1,570.33  |          8.02%
Gambling           | 14,999.32  |  27,537.14  |       7.67% | 12,537.82  |        0.00  |       6,966.80  |    19,504.62  |        4.63% |      1,276.04  |          6.52%
Banks              | 14,998.27  |  18,970.78  |       5.29% |  3,972.51  |        0.00  |       3,680.67  |     7,653.18  |        6.21% |      1,177.65  |          6.02%
Utility: Renewable | 12,218.03  |  11,861.81  |       3.30% |   -356.22  |        0.00  |         234.17  |      -122.05  |        8.38% |        993.95  |          5.08%
Weapons            | 14,995.20  |  35,085.79  |       9.77% | 20,090.59  |        0.00  |       4,704.42  |    24,795.01  |        2.68% |        940.28  |          4.80%
Oil                | 17,122.32  |  17,224.00  |       4.80% |    101.68  |        0.00  |       3,945.26  |     4,046.94  |        4.90% |        843.74  |          4.31%
Packaging          | 14,997.11  |  23,532.60  |       6.56% |  8,535.49  |      267.22  |       3,417.83  |    12,220.54  |        3.33% |        784.42  |          4.01%
Advertising        | 14,997.55  |  14,489.20  |       4.04% |   -508.35  |        0.00  |       3,720.20  |     3,211.85  |        4.84% |        701.32  |          3.58%
Real Estate IT     | 14,993.43  |   9,353.66  |       2.61% | -5,639.77  |      232.70  |       2,874.24  |    -2,532.83  |        6.61% |        618.46  |          3.16%
Utility: Water     | 10,670.59  |   7,567.00  |       2.11% | -3,103.59  |        0.00  |       2,946.99  |      -156.60  |        7.83% |        592.46  |          3.03%
Television         | 14,999.08  |   8,459.35  |       2.36% | -6,539.73  |        0.00  |       2,679.92  |    -3,859.81  |        6.89% |        582.60  |          2.98%
Insurance: NonLife | 20,716.58  |  22,737.92  |       6.33% |  2,021.34  |        0.00  |         889.43  |     2,910.77  |        2.34% |        532.92  |          2.72%
Pharma             | 11,986.74  |  10,076.80  |       2.81% | -1,909.94  |      112.80  |       3,380.90  |     1,583.76  |        4.48% |        451.20  |          2.31%
Telecom: Mobile    | 14,998.48  |   6,914.84  |       1.93% | -8,083.64  |      188.04  |       4,274.54  |    -3,621.06  |        5.44% |        376.09  |          1.92%
Bricks             | 14,999.47  |  10,224.05  |       2.85% | -4,775.42  |        0.00  |       2,111.44  |    -2,663.98  |        2.92% |        298.29  |          1.52%
Medical Products   |  2,723.59  |   3,557.92  |       0.99% |    834.33  |        0.00  |          97.85  |       932.18  |        1.64% |         58.34  |          0.30%
Cruising           | 14,979.79  |   6,779.52  |       1.89% | -8,200.27  |        0.00  |         610.18  |    -7,590.09  |        0.00% |          0.00  |          0.00%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                | Real P&L (£) | Comment                                                        
20-Sep-19 | IBST | Ibstock             |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King         |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp          |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp             |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva               |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp             |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings       |      399.89  | Return of Capital                                              
07-Nov-24 | WDS  | Woodside Energy Grp |   -3,833.33  | Sale pending De-Listing from LSE                               
          |      |                     |              |                                                                
          |      | Total               |   £5,745.50  |

Dividend Re-Investment: 10 January 2025

As at the close of business on Thursday 9 January 2025, the amount available for re-investment will be £2,095.11. This amount will be used to invest in one holding on Friday 10 January 2025.

Income Concentration: Limits

I have decided to limit Income Concentration as follows:

Holding Income Concentration – 10%
Sector Income Concentration – 15%

I do not intend to allow any Re-Investment that would breech either of those two limits.

Candidates
Apart from the Income Concentration Limits mentioned above, I am not one to place a limit on the yield being purchased. HYP is first and foremost an income strategy, so I do not countenance any idea of limiting the yield purchased to twice the number you first thought of, after stepping off the scales this morning! I am simply looking for the “Highest Sustainable Yield”, subject only to appropriate diversification being maintained.

To this end, the following candidates were listed for consideration:

EPIC | Company                     | Reward (%) | Decision | Comments                                                          
PHNX | Phoenix Grp Holdings        |     10.44% | Possible | Holding/Sector Income Concentrations (8.23%)/(14.56%) within limit
ABDN | Abrdn                       |     10.37% | Possible | Holding/Sector Income Concentrations (6.96%)/(13.42%) within limit
MNG  | M & G                       |     10.07% | Possible | Holding/Sector Income Concentrations (7.52%)/(13.39%) within limit
TRIG | The Renew. Infrastruct. Grp |      8.47% | Possible | Holding/Sector Income Concentrations (2.52%)/(5.93%) within limit 
UKW  | Greencoat UK Wind           |      8.34% | Possible | Holding/Sector Income Concentrations (4.29%)/(5.91%) within limit 
BATS | British American Tobacco    |      7.92% | Possible | Holding/Sector Income Concentrations (4.40%)/(14.38%) within limit

Decision

Phoenix Grp Holdings (PHNX) – Yield 10.44%

PHNX was this portfolio’s dividend re-investment made on 10 July 2024, since when the company has produced its Interim Results for the six months ending 30 June 2024. These results can be found here:

https://www.investegate.co.uk/announcem ... ts/8417320

A generally positive report indicating increased profits and an improving cash generation, leading to an increased interim dividend. The Chief Executive Officer (CEO) reported as follows:

"Phoenix's vision is to be the UK's leading retirement savings and income business, and I am pleased with the initial progress we have made in executing on our 3-year strategy, as our 2024 interim financial results demonstrate.

We have delivered 19% growth in Operating Cash Generation and remitted total cash generation of £950 million in the first half. We have generated 3%pts of recurring Solvency II capital and our resilient balance sheet has enabled us to repay £250 million of debt and to invest in our business. Strong growth in our capital-light Pensions and Savings business in particular has supported a 15% increase in operating profit. The Board has declared an Interim dividend which is a 2.5% year-on-year increase.

I am confident that as we continue to execute on our strategy we are building a growing business that is on track to deliver our financial targets and create shareholder value."

I see no reason to look elsewhere for the first dividend re-investment in 2025.

I will be having a further quick review later this week, but for now …..

Insurance: Life – Phoenix Group Holdings (PHNX) – Yield 10.44% - is the decision for this dividend re-investment.

This purchase will probably leave the Income Concentration from the Insurance: Life sector, very close to the limit of 15%. As a result, the next dividend re-investment, due in April 2025, will most probably need to be directed elsewhere.

We shall see!

---------

I will likely be making a purchase of PHNX for one of the “real” portfolios under my control, and therefore, if so, the price to be applied for this “virtual” purchase will be the same price that I achieve for my “real” purchase. Whatever happens, I shall post an update when the details of the purchase are known.

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the events of the Portfolio during its fifth year.

Enjoy!

Ian.

IanTHughes · #705285

Year Six: Dividend Re-Investment – 10 January 2025 - Result

For the activity during Year One of this portfolio please see this thread: viewtopic.php?f=15&t=17908
For the activity during Year Two of this portfolio please see this thread: viewtopic.php?f=15&t=22901
For the activity during Year Three of this portfolio please see this thread: viewtopic.php?f=15&t=33979
For the activity during Year Four of this portfolio please see this thread: viewtopic.php?f=15&t=34041
For the activity during Year Five of this portfolio please see this thread: viewtopic.php?f=15&t=39071

This is an update on the HYP constructed by pyad, as recorded on this thread: viewtopic.php?f=15&t=16868&start=140

Further details of how updates are to be made to this portfolio can be found on this thread:
viewtopic.php?p=218513#p218513

Dividend Re-Investment Purchase: Transaction Details

The Dividend Re-Investment indicated in the previous post has now been made as follows:

   Date   |    Business     | EPIC | Buy/Sell | Shares (#) | Price (p) | Cash (£)   | Stamp (£) | Fee (£) | Total (£)  | Yield (%) |         Comment               
10-Jan-25 | Insurance: Life | PHNX | Buy      |       428  | 486.4400  | -2,081.96  |   -10.41  |  -1.50  | -2,093.87  |  10.96%   | Routine Dividend Re-Investment

The price achieved was the price achieved for a purchase of PHNX within a “real” HYP portfolio, managed by myself.

Current Portfolio: Holdings

EPIC | Company                     | Shares  | Cost (£)   | Price (p)   | Value (£)    | Value (%) | P/L (£)    | Ex Div (£) | Div Rec'd (£) | Overall (£) | Y'ld (%) [1] | Yr Div (£)  | Yr Div (%)
HSBA | HSBC Holdings               |  2,425  | 14,998.27  |   799.1000  |   19,378.18  |     5.46% |  4,379.91  |      0.00  |     3,680.67  |   8,060.58  |        6.08% |   1,177.65  |      5.95%
IMB  | Imperial Brands             |  1,283  | 26,121.51  | 2,609.0000  |   33,473.47  |     9.43% |  7,351.96  |      0.00  |     9,552.49  |  16,904.45  |        5.88% |   1,968.38  |      9.94%
BATS | British American Tobacco    |    299  |  8,359.04  | 2,966.0000  |    8,868.34  |     2.50% |    509.30  |    176.05  |     2,970.43  |   3,655.78  |        7.94% |     704.20  |      3.56%
WPP  | WPP                         |  1,780  | 14,997.55  |   728.0000  |   12,958.40  |     3.65% | -2,039.15  |      0.00  |     3,720.20  |   1,681.05  |        5.41% |     701.32  |      3.54%
ITV  | ITV                         | 11,652  | 14,999.08  |    69.9000  |    8,144.75  |     2.29% | -6,854.33  |      0.00  |     2,679.92  |  -4,174.41  |        7.15% |     582.60  |      2.94%
MNG  | M & G                       |  6,393  | 13,027.21  |   192.5500  |   12,309.73  |     3.47% |   -717.48  |      0.00  |     2,628.04  |   1,910.56  |       10.39% |   1,278.60  |      6.46%
ABDN | Abrdn                       |  7,953  | 19,638.09  |   134.4000  |   10,688.83  |     3.01% | -8,949.26  |      0.00  |     6,413.93  |  -2,535.33  |       10.86% |   1,161.13  |      5.86%
IGG  | IG Grp Holdings             |  2,762  | 14,999.32  |   987.0000  |   27,260.94  |     7.68% | 12,261.62  |      0.00  |     6,966.80  |  19,228.42  |        4.68% |   1,276.04  |      6.44%
HLN  | Haleon                      |    941  |  2,723.59  |   371.7000  |    3,497.70  |     0.99% |    774.11  |      0.00  |        97.85  |     871.96  |        1.67% |      58.34  |      0.29%
GSK  | GSK                         |    752  | 11,986.74  | 1,349.5000  |   10,148.24  |     2.86% | -1,838.50  |      0.00  |     3,493.70  |   1,655.20  |        4.45% |     451.20  |      2.28%
IBST | Ibstock                     |  5,849  | 14,999.47  |   159.8000  |    9,346.70  |     2.63% | -5,652.77  |      0.00  |     2,111.44  |  -3,541.33  |        3.19% |     298.29  |      1.51%
SMDS | DS Smith                    |  4,310  | 14,997.11  |   570.0000  |   24,567.00  |     6.92% |  9,569.89  |    267.22  |     3,417.83  |  13,254.94  |        3.19% |     784.42  |      3.96%
BA   | BAE Systems                 |  3,043  | 14,995.20  | 1,192.0000  |   36,272.56  |    10.21% | 21,277.36  |      0.00  |     4,704.42  |  25,981.78  |        2.59% |     940.28  |      4.75%
AV   | Aviva                       |  3,663  | 14,970.64  |   471.8000  |   17,282.04  |     4.87% |  2,311.40  |      0.00  |     6,313.20  |   8,624.60  |        7.25% |   1,252.74  |      6.33%
PHNX | Phoenix Grp Holdings        |  3,075  | 15,334.83  |   479.4000  |   14,741.54  |     4.15% |   -593.29  |      0.00  |     1,023.35  |     430.06  |       11.12% |   1,638.97  |      8.28%
DLG  | Direct Line Insurance Grp   |  8,882  | 20,716.58  |   255.0000  |   22,649.10  |     6.38% |  1,932.52  |      0.00  |       889.43  |   2,821.95  |        2.35% |     532.92  |      2.69%
BLND | British Land Company        |  1,273  |  7,494.24  |   341.0000  |    4,340.93  |     1.22% | -3,153.31  |    155.81  |     1,350.77  |  -1,646.73  |        6.71% |     291.26  |      1.47%
LAND | Land Securities Grp         |    818  |  7,499.19  |   540.5000  |    4,421.29  |     1.25% | -3,077.90  |      0.00  |     1,600.36  |  -1,477.54  |        7.40% |     327.20  |      1.65%
BHP  | BHP Grp                     |    838  | 14,992.51  | 1,988.0000  |   16,659.44  |     4.69% |  1,666.93  |      0.00  |     6,885.02  |   8,551.95  |        5.85% |     974.03  |      4.92%
RIO  | Rio Tinto                   |    173  |  9,833.07  | 4,818.0000  |    8,335.14  |     2.35% | -1,497.93  |      0.00  |     2,528.42  |   1,030.49  |        7.15% |     596.30  |      3.01%
SHEL | Shell                       |    457  |  9,626.22  | 2,625.0000  |   11,996.25  |     3.38% |  2,370.03  |      0.00  |     2,209.00  |   4,579.03  |        4.17% |     500.62  |      2.53%
BP   | BP                          |  1,347  |  7,496.10  |   425.1000  |    5,726.10  |     1.61% | -1,770.00  |      0.00  |     1,736.26  |     -33.74  |        5.99% |     343.12  |      1.73%
VOD  | Vodafone Grp                | 10,077  | 14,998.48  |    66.1800  |    6,668.96  |     1.88% | -8,329.52  |    188.04  |     4,274.54  |  -3,866.94  |        5.64% |     376.09  |      1.90%
CCL  | Carnival Corp.              |    384  | 14,979.79  | 1,770.0000  |    6,796.80  |     1.91% | -8,182.99  |      0.00  |       610.18  |  -7,572.81  |        0.00% |       0.00  |      0.00%
UKW  | Greencoat UK Wind           |  6,155  |  8,146.73  |   122.6000  |    7,546.03  |     2.13% |   -600.70  |      0.00  |       153.87  |    -446.83  |        8.92% |     672.74  |      3.40%
TRIG | The Renew. Infrastruct. Grp |  4,300  |  4,071.30  |    80.3000  |    3,452.90  |     0.97% |   -618.40  |      0.00  |        80.30  |    -538.10  |        9.30% |     321.21  |      1.62%
PNN  | Pennon Grp                  |  1,316  | 10,670.59  |   519.5000  |    6,836.62  |     1.93% | -3,833.97  |      0.00  |     2,946.99  |    -886.98  |        8.67% |     592.46  |      2.99%
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Sub Total:                  |         |            |             | £354,367.98  |    99.78% | £6,695.53  |   £787.12  |               |             |        5.59% | £19,802.11  |           
     | Cash Balance:               |         |            |             |       £1.24  |     0.00% |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £787.12  |     0.22% |            |            |               |             |              |             |           
     |                             |         |            |             |              |           |            |            |               |             |              |             |           
     | Current Value:              |         |            |             | £355,156.34  |           |            |            |               |             |              |             |           
     | From:                       |         |            |             |              |           |            |            |               |             |              |             |           
     | Cash In:                    |         |            |             | £254,904.77  |           |            |            |               |             |              |             |           
     | LESS Cash Out:              |         |            |             |       £0.00  |           |            |            |               |             |              |             |           
     | Dividends Rec'd:            |         |            |             |  £87,023.42  |           |            |            |               |             |              |             |           
     | Ex Dividend:                |         |            |             |     £787.12  |           |            |            |               |             |              |             |           
     | Realised P/L:               | [2]     |            |             |   £5,745.50  |           |            |            |               |             |              |             |           
     | UnRealised P/L:             |         |            |             |   £6,695.53  |           |            |            |               |             |              |             |           
     |                             |         |            |             |              | XIRR      |            |            |               |             |              |             |           
     | Total:                      |         |            |             | £355,156.34  |     5.86% |            |            |               |             |              |             |

Current Portfolio: Business Sectors

Business           |  Cost (£)  |  Value (£)  |  Value (%)  |  P/L (£)   |  Ex-Div (£)  |  Div Rec'd (£)  |  Overall (£)  | Y'ld (%) [1] |  Year Div (£)  |  Year Div (%) 
Tobacco            | 34,480.55  |  42,341.81  |      11.92% |  7,861.26  |      176.05  |      12,522.92  |    20,560.23  |        6.31% |      2,672.58  |         13.50%
Insurance: Life    | 30,305.47  |  32,023.58  |       9.02% |  1,718.11  |        0.00  |       7,336.55  |     9,054.66  |        9.03% |      2,891.71  |         14.60%
Fund Manager       | 32,665.30  |  22,998.56  |       6.48% | -9,666.74  |        0.00  |       9,041.97  |      -624.77  |       10.61% |      2,439.73  |         12.32%
Mining             | 24,825.58  |  24,994.58  |       7.04% |    169.00  |        0.00  |       9,413.44  |     9,582.44  |        6.28% |      1,570.33  |          7.93%
Gambling           | 14,999.32  |  27,260.94  |       7.68% | 12,261.62  |        0.00  |       6,966.80  |    19,228.42  |        4.68% |      1,276.04  |          6.44%
Banks              | 14,998.27  |  19,378.18  |       5.46% |  4,379.91  |        0.00  |       3,680.67  |     8,060.58  |        6.08% |      1,177.65  |          5.95%
Utility: Renewable | 12,218.03  |  10,998.93  |       3.10% | -1,219.10  |        0.00  |         234.17  |      -984.93  |        9.04% |        993.95  |          5.02%
Weapons            | 14,995.20  |  36,272.56  |      10.21% | 21,277.36  |        0.00  |       4,704.42  |    25,981.78  |        2.59% |        940.28  |          4.75%
Oil                | 17,122.32  |  17,722.35  |       4.99% |    600.03  |        0.00  |       3,945.26  |     4,545.29  |        4.76% |        843.74  |          4.26%
Packaging          | 14,997.11  |  24,567.00  |       6.92% |  9,569.89  |      267.22  |       3,417.83  |    13,254.94  |        3.19% |        784.42  |          3.96%
Advertising        | 14,997.55  |  12,958.40  |       3.65% | -2,039.15  |        0.00  |       3,720.20  |     1,681.05  |        5.41% |        701.32  |          3.54%
Real Estate IT     | 14,993.43  |   8,762.22  |       2.47% | -6,231.21  |      155.81  |       2,951.13  |    -3,124.27  |        7.06% |        618.46  |          3.12%
Utility: Water     | 10,670.59  |   6,836.62  |       1.92% | -3,833.97  |        0.00  |       2,946.99  |      -886.98  |        8.67% |        592.46  |          2.99%
Television         | 14,999.08  |   8,144.75  |       2.29% | -6,854.33  |        0.00  |       2,679.92  |    -4,174.41  |        7.15% |        582.60  |          2.94%
Insurance: NonLife | 20,716.58  |  22,649.10  |       6.38% |  1,932.52  |        0.00  |         889.43  |     2,821.95  |        2.35% |        532.92  |          2.69%
Pharma             | 11,986.74  |  10,148.24  |       2.86% | -1,838.50  |        0.00  |       3,493.70  |     1,655.20  |        4.45% |        451.20  |          2.28%
Telecom: Mobile    | 14,998.48  |   6,668.96  |       1.88% | -8,329.52  |      188.04  |       4,274.54  |    -3,866.94  |        5.64% |        376.09  |          1.90%
Bricks             | 14,999.47  |   9,346.70  |       2.63% | -5,652.77  |        0.00  |       2,111.44  |    -3,541.33  |        3.19% |        298.29  |          1.51%
Medical Products   |  2,723.59  |   3,497.70  |       0.98% |    774.11  |        0.00  |          97.85  |       871.96  |        1.67% |         58.34  |          0.29%
Cruising           | 14,979.79  |   6,796.80  |       1.91% | -8,182.99  |        0.00  |         610.18  |    -7,572.81  |        0.00% |          0.00  |          0.00%

[1] - Yield and Forecast Income are based on my own Share Database Spreadsheet and are essentially calculated from the dividends that would have been earned over the previous 12 months, unless the company itself has clearly indicated otherwise.

[2] - Realised Profit and Loss & Return of Capital – To Date

Date      | EPIC | Name                | Real P&L (£) | Comment                                                        
20-Sep-19 | IBST | Ibstock             |      292.45  | Return of Capital                                              
09-Oct-19 | GNK  | Greene King         |    4,188.29  | P & L: Sale Pending Takeover                                   
16-Jul-21 | PNN  | Pennon Grp          |    1,676.05  | Return of Capital: Share Consolidation                         
21-Sep-21 | BHP  | BHP Grp             |      550.49  | Return of Capital                                              
16-May-22 | AV   | Aviva               |      173.70  | Return of Capital: Share Consolidation                         
01-Jun-22 | BHP  | BHP Grp             |    2,565.55  | Return of Capital: Woodside Energy Group (WDS) shares          
19-Jul-22 | GSK  | GSK                 |     -275.74  | Return of Capital: Haleon PLC (HLN) shares, Share Consolidation
19-Jul-22 | WDS  | Woodside Energy Grp |        8.15  | Return of Capital: Leftover Share Consolidation                
21-Jun-24 | HSBA | HSBC Holdings       |      399.89  | Return of Capital                                              
07-Nov-24 | WDS  | Woodside Energy Grp |   -3,833.33  | Sale pending De-Listing from LSE                               
          |      |                     |              |                                                                
          |      | Total               |   £5,745.50  |

Next Actions Required

Next Dividend Re-Investment

Dividends received by this Portfolio are re-invested on the 10th day of each month or, should that not be a market day, the first market day after the 10th day, just so long as a cash balance of at least £2,000.00 is available the day before. Therefore, based on current dividend expectations, the anticipated Dividend Re-Investment timetable for the next 12 months is as follows:

Date      | Balance   | Re-Invest?
10-Feb-25 |   788.36  |      N    
10-Mar-25 | 1,373.99  |      N    
10-Apr-25 | 3,035.03  |      Y    
12-May-25 | 2,753.14  |      Y    
10-Jun-25 | 3,343.01  |      Y    
10-Jul-25 | 1,432.82  |      N    
11-Aug-25 | 2,144.12  |      Y    
10-Sep-25 |   553.01  |      N    
10-Oct-25 | 3,568.52  |      Y    
10-Nov-25 | 3,312.30  |      Y    
10-Dec-25 |   729.28  |      N    
12-Jan-26 | 1,917.47  |      N

The next Dividend Re-Investment will therefore be on 10 April 2025 when £3,035.3 is currently forecast to be available for re-investment. At the moment of course, it looks as if the decision will once again be either Phoenix Grp Holdings (PHNX), or else M & G PLC (MNG), assuming no Income or Value Concentration limits are broken. PHNX is currently offered at a higher yield.

However, there are three months to wait during which much could change. As usual, a final decision will be made, and reported here, a few of days before the Re-Investment is due to be made.

Other Actions Required

1. - SMDS – DS Smith PLC: All-Share Takeover

New York based International Paper Company (IP) has proposed an all-share takeover of SMDS. As I understand it SMDS shareholders will receive 0.1285 shares of IP for each SMDS share held, giving this portfolio an IP holding of 553 shares, plus a small cash residue. It is currently intended that IP will have a secondary listing in London, so the holding of SMDS will be replaced by this new holding of IP which will be maintained going forward.

I do not personally maintain a holding of SMDS in any of the “real” portfolios under my management, and therefore have no broker to remind me of the timeline of events. If I miss anything, please do speak up!

2. - DLG – Direct Line Group: Cash and Share Takeover

The Life Insurer Aviva PLC (AV) has proposed a Cash and Share Takeover of DLG, which the board of DLG is “minded to recommend”. The terms of the Cash and Share deal, should it go forward, are as follows:

Each DLG share will be bought for a price of 129.70p PLUS 0.2867 AV shares PLUS DLG shareholders will receive a final dividend of 5.00p per share. In total this values each DLG share at 275.00p, using the closing price of an AV share on 27 Nov 2024 – 489.30p.

DLG shareholders will be asked for their approval or otherwise in due course. Assuming this offer is accepted by DLG shareholders, there may still be an investigation by the Competition and Mergers Authority (CMA), on the grounds that AV and DLG, once combined as one group, would corner more than 20% of the UK Motor Insurance market. There is therefore some way to go yet!

Assuming the deal goes ahead as detailed above, the cash amount received by this portfolio for its holding of DLG shares - £11,519.95 – as well as the amount received as dividend - £444.10 – will be retained for re-investment in accordance with HYP principles, just as soon as it is determined that the cash has been received. The extra AV shares – 2,546 - will simply be added to the current holding of AV.

I do maintain my own “real” holding of DLG, and therefore will be kept up-to-date by my broker, as to the timeline of events, should I miss anything myself.

-----

Should anyone wish to comment on this or any prior top-ups, as well as any other actions taken in the management of this virtual HYP Portfolio, then please do so but only on this related thread: viewtopic.php?f=15&t=43343

The intention is to keep this thread simply recording the history of the Portfolio, during its sixth year.

Enjoy!

Ian

The Lemon Fool

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PYAD HYP 2019_04 REINVEST – Year Six Progress

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Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

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Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

Re: PYAD HYP 2019_04 REINVEST – Year Six Progress

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