Australian (ASX) Stock Market Forum

WHF - Whitefield Industrials

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Belli said:
What is this mob doing with another SPP? Initial thoughts are if I do participate it will not be a large amount as I already hold plenty.
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don't follow this normally ,

do they need to redeem the preference shares , or are they just cashing up hoping for a market plunge

it might be just me but $5 doesn't look terribly attractive value at current returns ( obviously if you bought years back and cheaper you might be very happy with them )

***
Proceeds are being raised through the Plan for the purpose of investment in ASX listed securities, cash or cash equivalents in accordance with Whitefield’s investment strategy.

***

i guess it will be a matter of faith in the company's investment skills
 
Humdrum to say the least.

1668662512735.png


As expected dividend remains at 10.25c ff payable on 12 December and probably the same next half-year.

1668662455774.png
 
Considred the SPP offer. Will only put in a portion of the dividend payable on 12 Dec. My last buy for this LIC was some three years ago. It's there mainly to cover household overheads such as rates, utilities and house/contents insurance so will be a provision for increased costs.
 
Both WHF & SOL pay their respective dividends on Monday. In anticipation of this I have already distributed some funds towards the WHF SPP and VAS/VGS.

Nothing more to do until January.
 
And Whitefield celebrated 100 years, last week.

www.firstlinks.com.au

The 100-year-old Australian investment company you’ve never heard of

It’s one of Australia’s oldest listed investment companies, yet few investors have heard of it. While LICs like Australian Foundation Investment Company and Argo Investments grab the limelight, low key is how Whitefield prefers it.
www.firstlinks.com.au www.firstlinks.com.au
 
WHF reported yesterday afternoon. Dividend of 10.25c FF same as pcp. Payable 13 June. Investment revenue up by 9.8%. Net profit up by 7.3%. Increased tax expense up by 13% on operating income due to a higher proportion of unfranked income received. EPS up 8.1% to 15.4c.
 
WHF money in the account yesterday. Rates, utilities and house/contents insurance covered for another year.
 
WHF reports this week if it holds true to form. It will pay $0.1025. I say that with a high degree of confidence as that is what was reported in its last quarterly report in August. Dividend will be paid in December around the same time SOL decides to hand over the cash.

I hadn't added to the WHF holding for a considerable period so decided to dump some funds into it.
 
Belli said:
WHF reports this week if it holds true to form. It will pay $0.1025. I say that with a high degree of confidence as that is what was reported in its last quarterly report in August.
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and, in breaking news, from the latest Quarterly:

Dividend Outlook
"Whitefield’s earnings trajectory for the 2025 year will become more clear as we move through the quarter to September. The company is increasingly close to the point where it could consider increasing its dividend, subject to achieving a further level of sustainable earnings growth and economic conditions at the time.
At this point, the company expects to maintain its own ordinary share dividend for the half year ending September 2024 at 10.25 cents. Consistent with prior years, the dividends are expected to be paid in December 2024 and be fully franked."
.
shares are trading around $5.50, a bit under NTA.

TOP 20 INVESTMENTS At 31 Jul 2024 %
CBA COMMONWEALTH BANK OF AUSTRALIA 12.1%
CSL CSL LIMITED 7.7%
NAB NATIONAL AUSTRALIA BANK 6.3%
WBC WESTPAC BANKING CORP 5.5%
ANZ ANZ BANKING GROUP LIMITED 4.6%
WES WESFARMERS LIMITED 4.4%
MQG MACQUARIE GROUP LIMITED 3.6%
GMG GOODMAN GROUP 3.2%
TLS TELSTRA CORPORATION LIMITED 2.2%
ALL ARISTOCRAT LEISURE LIMITED 2.1%
WOW WOOLWORTHS GROUP LIMITED 2.0%
TCL TRANSURBAN GROUP 1.9%
QBE QBE INSURANCE GROUP LIMITED 1.6%
COL COLES GROUP LTD 1.4%
BXB BRAMBLES LIMITED 1.4%
COH COCHLEAR LIMITED 1.4%
JHX JAMES HARDIE INDUSTRIES PLC 1.3%
XRO XERO LIMITED 1.2%
SCG SCENTRE GROUP 1.1%
SUN SUNCORP GROUP LIMITED 1.1%
Cash CASH & CASH EQUIVALENTS 0.6%
 
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I had a look at the list of shareholdings in the recent annual report. What gives with the number of REIT's which are close to 10%? In other groups I wonder why WHF even holds some small, low value ones.

I hold WHF and have added but not since late last year.
 
Bellcose said:
I had a look at the list of shareholdings in the recent annual report. What gives with the number of REIT's which are close to 10%? In other groups I wonder why WHF even holds some small, low value ones.

I hold WHF and have added but not since late last year.
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now i don't hold WHF

but that sounds similar to my current portfolio where i am using REITs ( especially 3 monthly payers ) as bond proxies/regular income injections

for WHF

TOP TWENTY HOLDINGS
As at 30 June 2024
COMMONWEALTH BANK OF AUSTRALIA 11.8%
CSL LIMITED 7.6%
NATIONAL AUSTRALIA BANK LIMITED 6.2%
WESTPAC BANKING CORPORATION 5.3%
ANZ BANKING GROUP LIMITED 4.8%
WESFARMERS LIMITED 4.1%
MACQUARIE GROUP LIMITED 3.7%
GOODMAN GROUP 3.4%
WOOLWORTHS GROUP LIMITED 2.2%
TELSTRA CORPORATION LIMITED 2.2%
ARISTOCRAT LEISURE LIMITED 2.0%
TRANSURBAN GROUP 2.0%
QBE INSURANCE GROUP LIMITED 1.6%
COLES GROUP LIMITED 1.4%
BRAMBLES LIMITED 1.4%
COCHLEAR LIMITED 1.4%
XERO LIMITED 1.3%
ORIGIN ENERGY LIMITED 1.3%
JAMES HARDIE INDUSTRIES PLC 1.2%
SCENTRE GROUP 1.2%

• Increasing exposure to stocks in the finance, real estate investment, heavy industrial, healthcare and insurance sectors.

vs.

my holdings at the beginning of this month

1st of September 2024

( by $value )

1. PME ( 'free-carried ' )

2. CLW ( at full cash risk )

3. MQG ( 'free-carried ' ) ( $100 behind )

4. WES ( some profit taken ) ( $300 behind )

5. BHP ( some profit taken )

6. CMW ( at full cash risk )

7. REP ( at full cash risk )

8. CUP ( at full cash risk ) ( $50 behind )

9. CDM ( at full cash risk )

10. SGLLV ( at full cash risk )

close behind is CAM ( at full cash risk ) , and HCW ( at full cash risk )

in theory similar , but in practice looks vastly different
 
Whitefield Industrials Limited’s Convertible Resettable Preference Shares (WHFPB) reach the end of their current term on 30 November 2024 and Whitefield Industrials Limited will not be renewing these securities for a further term.

Accordingly, the Company will today issue the attached Expiry & Conversion Notice to all current holders of WHFPBs notifying them of the conversion of their WHFPBs if they still hold them at the reset date.
 
I purchased 500 of WHFPB at the initial issue in 2012 and converted them to WHF ordinary shares at the first re-set date in 2018. Just over 11,900 shares in exchange. I received good dividends from WHFPB but couldn't see how WHF would be able maintain the dividend rate. It doesn't surprise me they are not going to be renewed.
 
Bellcose said:
I purchased 500 of WHFPB at the initial issue in 2012 and converted them to WHF ordinary shares at the first re-set date in 2018. Just over 11,900 shares in exchange. I received good dividends from WHFPB but couldn't see how WHF would be able maintain the dividend rate. It doesn't surprise me they are not going to be renewed.
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yes, it was 7 percent from memory. a family member held them.
 
new LIC ..IPO ...seeking to raise up to $200 million at an offer price of $1.25


Whitefield will use a similar “rotation strategy” to Plato Income Maximiser where it systematically shifts its positions to capitalise on a company’s income recognition and dividend payment period. It means the fund has an average holding period of just 11 weeks and each position is equally weighted at around 1.5 per cent.

The strategy allows them to capitalise on the market’s inability to efficiently recognise the income being generated by a company over a six-month period.

“Typically, income is under-recognised early in the cycle and increasingly recognised as dividends come into focus and the certainty of the income distribution increases, so there are favourable times across each six-month period in which to invest,”
 
Dona Ferentes said:
new LIC ..IPO ...seeking to raise up to $200 million at an offer price of $1.25


Whitefield will use a similar “rotation strategy” to Plato Income Maximiser where it systematically shifts its positions to capitalise on a company’s income recognition and dividend payment period. It means the fund has an average holding period of just 11 weeks and each position is equally weighted at around 1.5 per cent.

The strategy allows them to capitalise on the market’s inability to efficiently recognise the income being generated by a company over a six-month period.

“Typically, income is under-recognised early in the cycle and increasingly recognised as dividends come into focus and the certainty of the income distribution increases, so there are favourable times across each six-month period in which to invest,”
Click to expand...
Will likely appeal to some, at least Whitefield will make money 'clipping the ticket'.
 
the only problem for me is , if I want to treat WHI as a source of income, and I reckon I need $2k a month then in rough figures with a 5% yield, I'm going to have to get $500k worth for that dividend stream.
 

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