HL SIPP — Dividend Portfolio · Buying Schedule

Updated 2026-04-13 09:00 · live prices from yfinance · income = trailing 12m dividend × shares for £4,800 position · £6.95/trade

🟡 Watch

TickerNameEx-DivBuy ByDaysPriceYieldEst. Income
LGEN Legal & General 23 Apr 22 Apr 10d 260p 8.3% £397
BA BAE Systems 23 Apr 22 Apr 10d 2198p 1.6% £74
🟡 RKT Net loss £385 after £0 divs received = 2.1× annual income — monitor
🟡 RKT Price 5136p within 10% of 52w low (4770p)

T+1 settlement — buy by market close on the day BEFORE ex-dividend date. Red alerts also trigger a Pushover notification.

Portfolio
£120,000
23 stocks + gold ETC
Position size
£4,800
£9,600 gold · £6.95/trade
SGLN Gold
6841p
No stamp duty · capital only
Positions held
14/26
£68,308 deployed

Actual Holdings — P&L

TickerSharesAvg CostLive Price InvestedValueCapital P&LDivs ReceivedTotal ReturnAnn. Income
AV 750 639p 623p £4,791 £4,676 £-116 £-116 (-2.4%) £295
BATS 100 4681p 4367p £4,681 £4,367 £-314 £-314 (-6.7%) £249
FRES 137 3633p 3549p £4,977 £4,862 £-115 £-115 (-2.3%) £141
GKP 1000 222p 195p £2,223 £1,954 £-269 £395 £+125 (+5.6%) £127
HIK 400 1221p 1318p £4,885 £5,270 £+385 £+385 (+7.9%) £285
HSBA 365 1319p 1325p £4,814 £4,835 £+20 £+20 (+0.4%) £358
LLOY 5000 99p 100p £4,968 £4,980 £+12 £+12 (+0.2%) £199
MNG 1500 315p 290p £4,723 £4,353 £-371 £-371 (-7.8%) £308
NWG 800 604p 604p £4,830 £4,834 £+4 £+4 (+0.1%) £295
OSB 850 568p 547p £4,826 £4,650 £-177 £-177 (-3.7%) £293
RCH 8000 62p 61p £4,998 £4,912 £-86 £-86 (-1.7%) £594
RKT 90 5564p 5136p £5,007 £4,622 £-385 £-385 (-7.7%) £185
SGLN 130 7302p 6841p £9,493 £8,893 £-601 £-601 (-6.3%)
SSLN 50 6182p 5294p £3,091 £2,647 £-444 £-444 (-14.4%)
Total £68,308 £65,854 £-2,454 £395 £-2,060 (-3.0%) £3,329/yr

Average cost includes commission and stamp duty. Income on actual shares held using trailing 12m dividends.

Full Portfolio — Live Prices & Income Forecast

#TickerNameLive PriceYield (fwd) Est. Income/yrCADI Score Ex-DivBuy ByNotes
1 ⚡ BATS British American Tobacco 4367p 5.7% £274 8 7.0 ~18 Mar ~17 Mar · 100/110 held @ 4681p (-6.7%)
2 ⚡ HIK Hikma Pharmaceuticals 1318p 5.4% £259 8 13.3 19 Mar 18 Mar · 400/364 held @ 1221p (+7.9%)
3 ⚡ NWG NatWest 604p 6.1% £293 6 9.9 19 Mar 18 Mar Declared · 800/794 held @ 604p (+0.1%)
4 ⚡ MNG M&G 290p 7.1% £339 26 Mar 25 Mar · 1500/1654 held @ 315p (-7.8%)
5 LLOY Lloyds 100p 4.0% £192 4 5.8 9 Apr 8 Apr · 5000/4819 held @ 99p (+0.3%)
6 AV Aviva 623p 6.3% £303 9 Apr 8 Apr · 750/770 held @ 639p (-2.4%)
7 RKT Reckitt 5136p 4.0% £191 4 5.3 9 Apr 8 Apr ⚠️ Fwd ~2.7% · T12m includes 235p one-off special — forward yield ~2.7% · 90/93 held @ 5564p (-7.7%)
8 OSB OSB Group 547p 6.3% £303 6 14.0 2 Apr 1 Apr · 850/878 held @ 568p (-3.7%)
9 FRES Fresnillo 3549p 2.9% £139 2 3.5 20 Apr 17 Apr · 137/135 held @ 3633p (-2.3%)
10 LGEN Legal & General 260p 8.7% £418 4 10.3 23 Apr 22 Apr
11 BA BAE Systems 2198p 1.6% £74 23 Apr 22 Apr Declared 22.8p
12 ADM Admiral 3319p 5.9% £284 2 3.4 14 May 13 May ⚠️ Incl. special · T12m includes variable special — floor yield ~4–5% if cut
13 TSCO Tesco 488p 3.5% £168 2 4.7 14 May 13 May
14 SVT Severn Trent 3244p 4.1% £197 9 4.9 28 May 27 May
15 HSBA HSBC 1325p 7.4% £355 5 7.2 ~Jun 200 shares held · 365/362 held @ 1319p (+0.4%)
16 LAND Land Securities 578p 7.0% £336 5 5.9 11 Jun 10 Jun REIT
17 III 3i Group 2700p 3.2% £154 5 6.7 18 Jun 17 Jun
18 BLND British Land 377p 6.3% £302 0 3.5 18 Jun 17 Jun REIT
19 UU United Utilities 1388p 3.8% £181 25 Jun 24 Jun
20 RCH Reach plc 61p 12.1% £581 0 18.1 TBC · 8000/7818 held @ 62p (-1.7%)
21 IMB Imperial Brands 3125p 5.3% £255 5 5.2 Jun (next) Quarterly
22 BP BP 588p 4.2% £200 Jun (next) Quarterly
23 BARC Barclays 434p 2.2% £106 5 4.6 Jun (next)
24 GSK GSK 2171p 3.4% £163 3 3.0 Jun (next) Quarterly
25 SGLN iShares Physical Gold ETC 6841p Anytime No stamp duty · 130/140 held @ 7302p (-6.3%)
26 SSLN iShares Physical Silver ETC 5294p Anytime No stamp duty · 50/91 held @ 6182p (-14.4%)
27 GKP Gulf Keystone Petroleum 195p 6.5% £312 ~Apr Legacy · Kurdistan oil · 1000/2456 held @ 222p (-12.1%)
Est. total £6,379/yr Net ~£6,179 after £200 platform fee

Yield and income use DividendMax forward annual yield where available, falling back to yfinance trailing 12m. ⚠️ RKT and ADM include special dividends in T12m — forward income will be lower. CADI/Score from DividendMax cache — refresh by dropping new divmax.rtfd into transactions/.


DivMax Watchlist — Rotation Candidates

Filtered for quality: cover ≥ 1.8×, yield 3.5–12%, no material cut forecast. Ranked by quality-adjusted score (yield × CADI track record × cover). Yield traps and infrastructure trusts excluded. DivMax: 2026-03-10 17:07.

TickerPrice Yield CADI FDI Cover Score Buy Before
TBCG ~£42.05 6.1% 6 +178% 3.3 14.9 21 May '26
SGRO ~£7.25 4.4% 12 +6% 5.4 14.2 26 Mar '26
ZIG ~£3.91 6.8% 5 0% 2.9 13.8 27 Aug '26
ICG ~£15.56 5.7% 15 +5% 2.0 12.5 18 Jun '26
DCC ~£46.9 4.7% 12 +5% 2.7 12.4 28 May '26
INVP ~£5.98 6.7% 5 +6% 2.4 11.3 13 Aug '26
MUT ~£9.13 4.4% 19 0% 2.0 11.1 14 May '26
RAT ~£20.2 5.0% 14 +7% 2.0 10.6 16 Apr '26
PAG ~£7.65 6.2% 5 +8% 2.4 10.4 02 Jul '26
FGP ~£1.74 5.2% 4 +29% 6.4 10.3 02 Jul '26
VSVS ~£4.22 5.6% 5 0% 2.5 9.8 23 Apr '26
TCAP ~£2.57 6.9% 5 +8% 2.0 9.7 09 Apr '26
CRDA ~£27.18 4.1% 14 +1% 2.2 9.6 09 Apr '26
GFTU ~£8.94 4.2% 6 +2% 3.5 9.3 23 Apr '26
HFG ~£5.02 7.4% 2 +5% 2.1 9.0 28 May '26

Green score ≥ 9 = strong candidate. Consider as a replacement if a current holding cuts its dividend or total return deteriorates.


Rotation Monitor

Two rotation triggers: Opportunity — net return (capital + dividends − costs) exceeds 10% and a watchlist candidate with a materially better score is available. Fundamental — dividend cut, CADI drops, or FDI < −20% → rotate regardless of return. Friction per rotation ≈ £38 (2× commission + stamp duty on new position).

TickerRiskRotate out if…Capital P&L
GKP Spec Kurdistan oil legacy — rotate if pipeline shuts and dividend suspended -12.1%
RKT High Forward yield only ~2.7% — rotate at +10% net return -7.7%
RCH Spec 12% yield, CADI 0 — rotate immediately on any dividend cut -1.7%
FRES High Silver-linked variable dividend — rotate at +10% net return -2.3%
BATS Med FDI turns negative; cover (now 1.5) falls below 1.2 -6.7%
BLND High CADI 0, cover 1.1 — rotate at +10% net return or any dividend cut not held
ADM High Cover 1.0 (dividend = earnings) — if special removed, yield halves not held
MNG Low Dividend cut; cover falls below 1.5 -7.8%
TSCO Med Yield 3.5% is low — rotate at +10% net return if better yield available not held
LGEN Med Cover falls below 1.5; annuity book stress not held
LAND Med REIT, low cover is structural — rotate if dividend reduced not held
IMB Med Cut dividend in 2020; cover 1.4 — watch FDI closely each year not held
HSBA Med Cut dividend in 2020 — rotate if cover drops below 1.0 again +0.4%
HIK Med Earnings miss that cuts dividend; US tariffs confirmed on generics +7.9%
GSK Med Cover 1.4, yield 3.4% — weakest quarterly — rotate at +10% not held
BP Med Oil-price dependent quarterly — rotate if oil cycle turns down not held
BARC Med Yield 2.2% is low — rotate at +10% net return for better yield not held
OSB Low Cover drops below 2.0; UK buy-to-let market deteriorates sharply -3.7%
AV Low Dividend cut; cover falls below 1.5 -2.4%
UU Low Regulated utility — rotate only if dividend cut not held
SVT Low Regulated utility, CADI 9 — hold; rotate only if dividend cut not held
NWG Low FDI turns negative; regulatory capital shock +0.1%
LLOY Low Cover drops below 1.8; PPI-style regulatory shock +0.3%
III Low Cover 3.8, CADI 5 — very safe. Hold long-term not held
BA Low Defence dividend well covered — rotate only on fundamental change not held

Capital P&L only — dividend income not yet tracked here. Net return will be higher once dividends are counted.


2026 Dividend Calendar

Ex-Div DateTickerNameDividend/shareEst. Pay Date
~18 Mar ⚡ BATS BAT 61.26p ~May
19 Mar ⚡ NWG NatWest 23.0p 5 May
26 Mar ⚡ MNG M&G ~13.5p 8 May
9 Apr LLOY Lloyds 2.43p 19 May
9 Apr AV Aviva ~24p 21 May
9 Apr RKT Reckitt ~90p 28 May
20 Apr FRES Fresnillo ~15p 29 May
23 Apr LGEN L&G ~15p 4 Jun
23 Apr BA BAE Systems 22.8p 4 Jun
30 Apr CNA Centrica ~3.0p 4 Jun
14 May ADM Admiral ~120p 12 Jun
14 May TSCO Tesco ~9.5p 26 Jun
28 May MKS M&S ~2.6p 3 Jul
28 May SVT Severn Trent ~73p 14 Jul
~Jun HSBA HSBC ~11p TBC
11 Jun LAND Land Securities ~12p 24 Jul
18 Jun III 3i Group ~36p 24 Jul
18 Jun BLND British Land ~12p 24 Jul
25 Jun UU United Utilities ~34p 3 Aug
Later 2026 IMB Imperial Brands ~40p TBC
Later 2026 BP BP ~6p TBC
Later 2026 BARC Barclays ~5.6p TBC
Later 2026 GSK GSK ~18p TBC

Key Rules

T+1 settlement — buy by market close on the day BEFORE ex-dividend date
Use DRIP — free dividend reinvestment at HL; compounds returns automatically
SGLN — no stamp duty; buy anytime. Gold above JPM 2026 target — don't add more
HSBA — 365 shares held at ~1319p avg; full position = ~386 shares. Consider topping up on weakness
RKT.L — 235p special dividend (Feb 2026) was one-off. Forward yield ~2.7%, not the T12m figure shown
ADM.L — includes variable special dividend. Floor yield ~4–5% if special is cut
PHAG.L (silver) — wait for £50–55 entry. Do not buy yet
⚠️ Conflict note — banks (BARC, LLOY, NWG, HSBA) may remain cheap while geopolitical risk persists. Yields are better on weakness — watch for opportunities to build positions