Volta 10% dividend

February 5th 2024 

Volta's NAV = EUR 6,70 per share

Share price = EUR 5,14

Discount: has increased to 23% 

Dividend still 10% 

Saturday, December 17, 2022

Volta Finance notes 10% dividend

As at the end of November 2022, Volta’s NAV was €219.8m or €6.01 per share. 

Share price December 17th 2022: EUR 5 

Discount: 17%  

Dividend has increased to EUR 0,12 x 4 = EUR 0,48 = 10% 

With CLOs I don't know the "cat risk"... 

Earlier notes: https://sinaas.blogspot.com/2020/09/volta-finance-aax-constituent-notes-10.html 

Monday, September 21, 2020

Volta Finance (AAX constituent) notes. 10% dividend.

Every year I go through Dutch stocks: A to Z http://sinaas.blogspot.com/2016/04/valuation-of-all-stocks-listed-in.html

Now V -> Volta

"Investment objectives

Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. 

The assets that Volta may invest in either directly or indirectly include but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; commercial mortgage loans; automobile loans; student loans; credit card receivables; leases; and debt and equity interests in infrastructure projects (the “Underlying Assets”).

Volta’s approach to investment is through vehicles and arrangements that essentially provide leveraged exposure to portfolios of such Underlying Assets. In this regard, Volta reviews the investment strategy adopted by AXA Investment Managers Paris (the “Investment Manager” or “AXA IM”) on a quarterly basis. The current investment strategy is to concentrate on the following asset classes: CLO; Synthetic Corporate Credit; Cash Corporate Credit; and ABS. There can be no assurance that Volta will achieve its investment objectives.

The Investment Manager

AXA IM is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. "

Thought: if it is invested in debt, the returns might not be high considering today's low interest rates. (Libor Sept 2020: 0,39%)

Price: EUR 4,24 Net Asset Value (NAV) per share EUR 5,80 Discount (korting): 27%

https://www.voltafinance.com/media/29299/volta-monthly-report-august-2020.pdf  

Dividend: EUR 0,11 x 4 qaurters =  0,44 EUR / EUR 4,24 = 10% 

Volta seems like a buy here due to the dip in share price. I haven't done any homework on this. Caveat Emptor