DJ Hardman & Co Research: Volta Finance Limited (VTA): Yield (10%, covered and growing) + capital growth
Hardman & Co Research
Hardman & Co Research: Volta Finance Limited (VTA): Yield (10%, covered and growing) + capital growth
28-Jul-2021 / 07:20 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
Hardman & Co Research: Volta Finance Ltd
Yield (10%, covered and growing) + capital growth
In our note, Re-Set, Re-Fi, Re-Light my Fire, published on 5 May 2021, we explored how favourable market conditions
mean that CLO vehicles can re-finance debt cheaply. This enhances the value of Volta's CLO equity positions, which have
been increased substantially in recent years, and is expected to lift total returns by 1%-1.5% p.a. for several years.
The higher cashflow further backs an already covered dividend, with a 2022E yield of 10.1%. With returns above the cost
of the dividend, the NAV is growing (supporting further dividend growth). With income and capital growth appealing to a
range of investors, the discount to NAV may narrow.
Please click on the link below for the full report:
https://www.hardmanandco.com/research/corporate-research/yield-10-covered-and-growing-capital-growth/
If you are interested in meeting the company, you can register your interest by clicking on the above link
To contact us:
Hardman & Co Contact:
1 Frederick's Place
London Mark Thomas
EC2R 8AE mt@hardmanandco.com
+44 20 3693 7075
www.hardmanandco.com
Follow us on Twitter @HardmanandCo
Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.
About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.
Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. -----------------------------------------------------------------------------------------------------------------------
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. -----------------------------------------------------------------------------------------------------------------------
1222142 28-Jul-2021
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222142&application_name=news
(END) Dow Jones Newswires
July 28, 2021 02:20 ET (06:20 GMT)
