|New City Energy
||EPS - Basic
||Market Cap (m)
New City Energy Share Discussion Threads
Showing 376 to 398 of 400 messages
|Have not looked at this particular case, but investment trusts are now allowed to pay dividends out of both income revenue and capital profits.|
|Investment income for 6 months = £289,000
How can they pay out over £250,000 in dividends for the 6 months and then pay all the company expenses and investment management fee?|
|For divi & NAV, am going to be getting near to buying again soon. Bid dropped so 12.5/14.5 but online is 13.3/13.6, amusingly tighter. Yesterday's NAV 17.57p, so about a 22% discount & 7.3% yield. Weak £ will have been helping the NAV - see nothing in the Top 10 holdings that's in Sterling.
Edit - UK 1.78%|
|17.4p, can argue how realisable that is, but whilst the divi rolls in, can't say too fussed.|
|Yesterday's NAV just reported - 17.13p XD. A NiCE little earner.|
|I did say HNL will be good for this one.|
|Anyone seen John Baron's write-up? Am guessing it came out today on his website, but I've no longer got access.|
|Bought some today, all things being equal divi looks safe with funds in reserve to cover any temporary shortfall. Other than that it's a question of an improving oil price ?|
|Anyone seen the HNL rns today there going places.|
|Dividend dropped into a/c from NCE, nice little earner. Still not seen John Baron's write-up.|
|This could make a few quid from HNL a very large holding.
CQS Asset Management Limited holding 1,473,542... 5% +|
|Seems it got a recent "tip" from IT guru John Baron, added to one of his portfolios. Looking forward to seeing his write-up. Nice to have got in well ahead of him :)|
|Yes they've realised some unlisted investments. Now comprise only 8% of the portfolio versus 14% at end sept 2015|
|Yes glad they're still describing the divi as sustainable; also they mentioned increased activity amongst unlisted holdings.|
|Interim results (to end March 2016). Look OK.
Current dividend of 1p decribed as "sustainable".
"..The Board took the difficult decision at the end of 2015 to reduce the level of dividends to an annual 1.0 pence per share payable as to 0.25p per quarter. We believe that this level is sustainable in the current environment."
So current yield is 9% and discount to NAV approx 30%.|
|I wonder who the big seller is. No holding RNSs yet. The company were buying back shares in Feb.
Biggest holding BW LPG doing well today. http://www.bloomberg.com/quote/BWLPG:NO|
|Yes, hopefully the "rebasing" to 1p is sustainable, or they'd have cut it by more.
NAV up to 16.5p I see.|
|Fair comment. Regarding running costs they reduced from £660K to £480K last year and they say cost-cutting will continue in the current year. Realistically will any trust have running costs of less than £0.4M per year?
I picked up a few more this morning. 11p to buy, not 12.5p as quoted. Big difference. Actual spread is 10p-11p.
The directors are implying a 1p a year dividend (0.25p paid quarterly) is sustainable which gives a current 9% yield.|
|Also been buying a few of these recently, though in any firesale the NAV would be considerably lower IMO. Just looking at two of the UK holdings (Egdon & Igas), if you had to sell a couple of hundred k (shares or £s!) of either of those you'd have some fun - doubt you'd get half price on Egdon, if you could get them away at all.
So I can see why a winding-up isn't in the interests of anybody (though completely acknowledge the ridiculous costs - think what just the listing and RNSs cost, even before the "investment" manager fees). But can also see how a cyclical recovery could lead to some good gains (again, look at EDR and IGAS charts, which isn't to say both couldn't go lower first).
So why am I in? Discount to NAV, recovery prospect, dividend (some bonds in there providing income), and what I think will be the endgame - they'll need to/have to merge with a bigger trust, to get the fees spread over a larger NAV and things like the listing cost removed. That should bring the discount in irrespective of a market recovery. Don't know when it'll happen, but happy to wait.
Won't be betting the house on them mind.|
|Ive bought at 11p mid price recently, Looks good value at 30%+ discount. Big dividend. Running costs are reducing and look like they could be down to £0.4M this year. Still high but realistically what you'd expect for a tiny AIM listed trust. About 85% of the investments are listed so the NAV is believable. And a broad range of O&G listed investments, some big companies in there, so looks a decent punt on the O&G sector recovering. At this discount I'm OK with them paying part of dividend out of capital if required..|
|Very impressive.......if only you were looking at the right factsheet
Try this one instead
|Regardless of whether this is a good investment at the present, its clear that the only people who've made money here long term are the investment managers (for whose benefit it was obviously set up). Last year the cost of running this was £660k (nearly £400k of which was paid to the managers)! NAV is currently only £12.6m. All the costs are charged against capital allowing them to pay a good dividend (and the give the appearance of delivering shareholder value) whilst the capital ebbs away.
I don't know who the major shareholders are but I'd guess it's discretionary clients put in here without their knowledge. I can't believe any reputable institution would be interested. So I guess the company will survive the continuation votes on the back of clients who don't even really know they are invested here. Unless there is a big recovery in oil price the gravy train will run out eventually. They'll eventually have to start liquidating capital to cover the running costs and then the income will suffer. It's a self perpetuating downward vortex.|