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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| City Of London Investment Group Plc | CLIG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 10.00 | 3.09% | 334.00 | 09:55:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 334.00 | 334.00 | 334.00 | 324.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 18/09/2023 | Interim | GBP | 0.11 | 29/02/2024 | 01/03/2024 | 28/03/2024 |
| 25/07/2023 | Final | GBP | 0.22 | 28/09/2023 | 29/09/2023 | 27/10/2023 |
| 20/01/2023 | Interim | GBP | 0.11 | 02/03/2023 | 03/03/2023 | 31/03/2023 |
| 19/07/2022 | Final | GBP | 0.22 | 29/09/2022 | 30/09/2022 | 04/11/2022 |
| 19/01/2022 | Special | GBP | 0.135 | 24/02/2022 | 25/02/2022 | 25/03/2022 |
| 19/01/2022 | Interim | GBP | 0.11 | 24/02/2022 | 25/02/2022 | 25/03/2022 |
| 13/07/2021 | Final | GBP | 0.22 | 07/10/2021 | 08/10/2021 | 29/10/2021 |
| 14/09/2020 | Interim | GBP | 0.11 | 04/03/2021 | 05/03/2021 | 19/03/2021 |
| Final | GBP | 0.2 | 08/10/2020 | 09/10/2020 | 30/10/2020 | |
| 16/09/2019 | Interim | GBP | 0.1 | 05/03/2020 | 06/03/2020 | 20/03/2020 |
| 18/02/2019 | Final | GBP | 0.18 | 10/10/2019 | 11/10/2019 | 29/10/2019 |
| Top Posts |
|---|
Posted at 22/4/2024 11:14 by montyhedge Looks good, wonder if a special dividend in the future. |
Posted at 22/4/2024 09:13 by brucie5 So this looks like having been yet another opportunity to accumulate an excellent high dividend business at rock bottom prices. The bottom has been in since last October and now thoroughly tested. |
Posted at 22/4/2024 07:26 by masurenguy FUNDS UNDER MANAGEMENT ("FuM") AS AT 31 MARCH 2024 & TRADING UPDATECity of London (LSE: CLIG), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds, announces that as at 31 March 2024, FuM were $10.1bn. This compares with $9.6bn as at 31 December 2023, an increase of 5.5%. IM Performance Relative investment performance of the Group's strategies was mixed over the period, with most Emerging Market and Fixed Income strategies outperforming, while Opportunistic Value and International Equity strategies underperformed. The investment teams continue to find value in the closed-end fund (CEF) universe as discounts remain historically wide across a number of asset classes. Flows Over the 3 month period, there were net inflows of $224m led by International Equity strategies at CLIM and Municipal Bond strategies at KIM. We are pleased that there has been a return to growth after a challenging period in capital markets. Sales activity continues to gain momentum as CEF discounts are at compelling levels and there is significant capacity. Marketing efforts are focused on new mandates in a number of the Group's asset classes that have very good long-term performance. Dividend The interim dividend of 11p per share was paid on 28 March 2024. As previously announced, savings of c.$2.5m of costs per annum will be fully realised in the next financial year. The Board will announce the final dividend on Thursday 25 July 2024 in its pre-close trading update. |
Posted at 09/4/2024 22:45 by robsy2 Clig is not an easy share to own. I have been here for years and it has provided dividend income only which has been enough to date , almost. |
Posted at 09/4/2024 12:29 by brucie5 CLIG is part of the Roland Head portfolio, which is not always a guarantee! But Roland does supply useful commentary on results.I believe dividend cover is touch and go and dependent on whether penciled in growth in earnings can be achieved. He writes: "Updated forecasts from house broker Zeus available on Research Tree suggest earnings per share of 33.4p per share in FY24, rising to 34.8p per share in FY25. Given the group's cash position, I would guess that hitting these targets would protect the dividend from a cut." His conclusion is that it represents good value, and he would consider topping up. Personally, I think that rising investment activity must be something of a rising tide as we see with LIO. The chart on CLIG suggests a large extended bottom - and it's not far off from where it fell in 2020. I imagine that the bod will do what they can to continue maintaining the div even if it eats somewhat into their fairly strong reserves. |
Posted at 14/3/2024 16:19 by masurenguy INTERIM DIVIDENDThe dividend of 11p per share (equivalent to 14.1 cents per share) will be paid on 28 March 2024. |
Posted at 31/1/2024 12:49 by masurenguy SIX MONTHS TO 31 DECEMBER 2023: TRADING UPDATE AND DIVIDEND DECLARATIONCity of London (CLIG) announces that on a consolidated basis, as at 31 Dec 2023, FuM were US$9.6bn. This compares with US$9.4bn at the Group's year end on 30 June 2023. A breakdown by strategy: FuM ($m) Dec-23: Jun-23 EM 3,578: 3,580 KIM 3,618: 3,520 INTL 2,004: 1,983 OV 278: 244 Other* 98: 97 Total 9,576: 9,424: +1.6% IM Performance Relative investment performance of the Group's strategies was mainly positive over the period, with OV and Fixed Income strategies outperforming, International Equity neutral and EM slightly negative. Significant CEF discount widening through late 2023 was partly reversed in Q4 which helped relative performance into year-end while NAV performance was positive. Over the six-month period, there were net outflows of circa US$294m across the Group's strategies, led by EM redemptions at CLIM and required minimum distributions for KIM clients at year end. Marketing and sales activity has picked up significantly in January as clients and prospects review their investment allocations. We are focused on new mandates in a number of the Group's asset classes with very good long-term performance as CEF discounts are at compelling levels and there is ample capacity. Operations The Group's income currently accrues at a weighted average rate of approximately 70 basis points, net of third party commissions. "Fixed" costs are c. US$2.3m per month, and accordingly the current run-rate for operating profit before profit-share is approximately US$3.2m per month based upon current FuM. The Group has proactively undertaken cost reductions as part of normal operations reflecting the current market environment. Based on actions initiated to date, savings of c. US$2.5m of costs per annum will be fully realised in the next financial year. The Group estimates the unaudited profit before amortisation and taxation for the six months ended 31 December 2023 to be approximately US$13.9m (six months ended 31 December 2022: US$13.8m, restated in USD based on average exchange rate). Inclusive of our regulatory and statutory capital requirements, cash and cash equivalents stood at US$28.8m at the end of the calendar year (US$28.6m as at 30 June 2023, restated in USD based on closing exchange rate), in addition to the seed investments of US$2.4m. Our cash reserves will allow us to continue managing the business conservatively through volatile markets while following our dividend policy for our shareholders. The Company is currently in a close period which will end with the publication of results for the six months ended 31 December 2023 on 23 February 2024. Dividend The Board declares an interim dividend of 11p per share, which will be paid on 28 March 2024 to shareholders registered at the close of business on 1 March 2024 (2022: 11p). The Board confirms the following interim dividend timetable: -- ex-dividend date: 29 February 2024 -- dividend record date: 1 March 2024 -- DRIP election date/ deadline 8 March 2024 -- announcement of USD dividend 14 March 2024 -- dividend payment date: 28 March 2024 |
Posted at 23/10/2023 08:59 by mister md Shareprice in free-fall. Added a few more at 308p this morning but not sure how much further it could drop ? Re: the dividend / dividend cover, from RNS:"... your Board believes that the use of a dividend cover policy based on rolling five-year periods provides a prudent template that serves to protect shareholders from the market volatility that can affect profits of asset management companies. The beneficial effects of this policy are illustrated clearly in the year to 30th June 2023 when underlying fully diluted EPS have fallen by 18%. On the basis of unchanged dividend payments totalling 33p for the year as a whole, the cover ratio for the single year is 1.09, whereas the rolling five-year cover ratio, at 1.24, will remain marginally ahead of the 1.2 target level. Accordingly, your Board is recommending the payment of a final dividend of 22p per share, to be paid on 27th October 2023 to those shareholders on the register at 29th September 2023. This brings total distributions for the year to 33p, the same level as the previous year, excluding the 13.5p special dividend paid in March 2022." |
Posted at 18/10/2023 20:55 by eggbaconandbubble From Stockopedia.....The inverse of dividend cover is the Payout Ratio. As we define the Dividend from the Cashflow statement, that means that it's a negative cash-flow item so the Dividend Cover is negative and so is the Payout Ratio, so it's important to be aware of this when screening. From Wikipedia..... Generally, a dividend cover of 2 or more is considered a safe coverage, as it allows the company to safely pay out dividends and still allow for reinvestment or the possibility of a downturn.[1][3] A low dividend cover can make it impossible to pay the same level of dividends in a bad year's trading or to invest in company growth. A negative dividend cover is both unusual and a clear sign that the company is in trouble.[2] The higher the cover, the more unlikely it is that the dividend will fall the following year.[4] "Sometimes people don't want to hear the truth because they don't want their illusions destroyed." - Friedrich Nietzsche BB filtered! |
Posted at 17/10/2023 18:12 by masurenguy That is pure speculation. CLIG has cash and has historically been prepared to cover dividends beyond earnings in the short term. For example, in 2014 the eps was 20.7p and the dividend was 24.0p and in 2016 the eps was 23.3p and the dividend was maintained at 24.0p. The current projected eps for the year ending June 24 is 40c, which is effectively 32.5p, which would just be 1.5% below the current dividend of 33.0p. Management will clearly take a view based on forward projections and if the forecasted 2025 eps of 34.3p is still considered achievable next year then they could decide to maintain the existing dividend as they did in 2014 and 2016.That policy was reiterated by Barry Ayling in the recent annual report. "The Board believes that the use of a dividend cover policy based on rolling five-year periods provides a prudent template that serves to protect shareholders from the market volatility that can affect profits of asset management companies. The beneficial effects of this policy are illustrated clearly in the year to 30th June 2023 when underlying fully diluted EPS have fallen by 18%. On the basis of unchanged dividend payments totalling 33p for the year as a whole, the cover ratio for the single year is 1.09, whereas the rolling five-year cover ratio, at 1.24, will remain marginally ahead of the 1.2 target level." Excluding the brief COVID down spike in 2020 we are now at a 7 year low as are some other FTSE financial companies. Therefore, we can only wait and see if this current bear market persists or whether some green shoots start to appear as inflation starts to cool going forward. |
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