Chelverton Uk Dividend Share Discussion Threads

[contrarian joe] 14/4/2015 18:18

FTSE 100 p/e ratio 16.24 FT 250 p/e ratio 21.8 FT small cap " 27.8 AIM 100 " 23 sdv " 16.4 W SDV low ratio & the fact that its leveraged closed fund status in a bull market should mean kicking the indices, instead it has under performed both small & aim over the last couple of months, must also bear in mind they pay out more income than the indices, just seems undervalued with a lack of interest atm.

[dr biotech] 14/4/2015 14:54

Last year the average discount to NAV was 7.7%. Now its just over 15%. Seems to be too wide to me and I have added some here today. Could do with a cut in the management fees though.

[dr biotech] 13/4/2015 09:29

Gap between the share price and NAV looks as wide as it has ever been. This time last year the NAV was the same and the share price was around 190. Funny thing sentiment.

[envirovision] 11/3/2015 13:37

A third interim dividend of 1.575p per Ordinary share will be paid on 2 April
2015 to the holders of Ordinary shares on the register at 20 March 2015, with
an ex-dividend date of 19 March 2015.

[mozy123] 27/2/2015 14:09

Different amount of share in issue thats all

[skinny] 27/2/2015 13:41

NAV _________

[envirovision] 27/2/2015 13:15

I know dividend growth has some way to go, I dont understand your adjusted price please explain?

[mozy123] 27/2/2015 13:08

enviro - "£9" its got a different capital stucture now that when it was - annual dividends are still 25% under those in 1999.

adjusted price is £2.40

[envirovision] 27/2/2015 12:58

and if you are in to your long term charting:

....or we could be seeing the start of a giant head that takes the share price up to say £9 in a few years time, now that one shoulder has formed....

(In line with that giant "W" which has formed over the last 16 years or so on the FT100) ;).

[speedsgh] 27/2/2015 12:36

Recent rebound possibly aided by the article in latest issue of Investment Trust Insider -

[essentialinvestor] 27/2/2015 12:23

I thought about 170 as previously mentioned.

[envirovision] 27/2/2015 12:21

Wow, turns out it hit a discount of 18% at one point, must have hit a record. No wonder we are seeing a robust rebound:

The Net Asset Value (NAV) at 20/02/2015 was:

Number of
shares in
issue:

Per Ordinary share (bid price) - including
unaudited current period revenue* 191.06p 16,550,000

Per Ordinary share (bid price) - excluding current
period revenue* 187.76p

Ordinary share price 156.50p

Discount to NAV (18.09)%

[dr biotech] 26/2/2015 16:03

Gap between the share price and NAV is still considerable. There has been a steady rise in the NAV since Nov.

[envirovision] 26/2/2015 08:51

Some way to go before a 20/200 day cross, that would be very bullish.

[madmix] 25/2/2015 15:40

I suspect it may just be the clearing of a stock overhang coupled with a discount that had widened too far. At 157p they were trading at a 17% discount to NAV, not seen since Jan '13.

The market now seems to be absorbing sellers and moving higher on modest buying.

[envirovision] 25/2/2015 15:27

blimey that is quite a rise in a day, especially since its a general down day.

Has the trust been tipped somewhere?

[mozy123] 16/2/2015 14:28

Most MP's have :) plus he used to work at rothschild!

[contrarian joe] 16/2/2015 11:43

Thanks Mozy 123, always reassuring to know someone of the calibre of john Baron has spotted the value here,he openely admits to having a lot of contacts with a lot of knowhow, who have helped him over the years.

[mozy123] 14/2/2015 15:22

john baron has bought some for his thematic portfolio - looks good for income, and the discount protects against some of the split capital nature.

hxxp://www.johnbaronportfolios.co.uk/site/history.php

[skinny] 13/2/2015 15:12

The Company announces:

Total Assets (including unaudited revenue reserves at 06/02/2015) of £40.85m

Net Assets (including unaudited revenue reserves at 06/02/2015) of £31.04m

The Net Asset Value (NAV) at 06/02/2015 was:

Number of shares in Issue : 16,550,000

Per Ordinary share (bid price) - including unaudited current period revenue* 187.58p

Per Ordinary share (bid price) - excluding current period revenue* 184.42p

Ordinary share price 156.50p

Discount to NAV (16.57)%

Ordinary shares have an undated life

ZDP share 115.31p 8,500,000

ZDP share price 126.25p

Premium to NAV 9.49%

ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018

*Current period revenue covers the period 01/05/2014 to 06/02/2015

Name of company % of portfolio

1 Clarke (T.) Plc Ordinary 10p 2.77

2 Stadium Group Plc Ordinary 5p 2.50

3 Acal Plc Ordinary 5p 2.49

4 Connect Group Plc Ordinary 5p 2.42

5 Shoe Zone (Holdings) Limited Ordinary 1p 2.19

6 GVC Holdings Plc Common EUR0.01 2.17

7 Kcom Group Plc Ordinary 10p 2.07

8 Alumasc Group (The) Plc Ordinary 12.5p 2.06

9 Town Centre Securities Plc REIT 25p 2.06

10 Braemar Shipping Services Plc GBp 10 2.00

11 Marston's Plc Ordinary 7.375p 2.00

12 Avesco Group Plc Ordinary 10p 1.98

13 Tritax Big Box REIT Plc 1.90

14 Wilmington Group Plc Ordinary 5p 1.87

15 Intermediate Capital Group Plc Ordinary 20p 1.86

16 Dairy Crest Group Plc Ordinary 25p 1.84

17 Jarvis Securities Plc Ordinary 1p 1.84

18 Personal Group Holdings Plc Ordinary 5p 1.79

19 St.Ives Plc Ordinary 10p 1.78

20 Epwin Group Plc Ordinary 10p 1.70

[envirovision] 12/2/2015 12:52

With the MCX 250 breaking out to fresh highs, the dividend here increasing against falling interest rates and inflation. The ever growing discount to NAV.

I have to say this is getting really stupid !

Be that as it may, your short term view EI may play out, after all the trusts shareprice now has historic resistance on the 200 day MA.

Which as it happens looks to be £1.70

jeez

[essentialinvestor] 05/2/2015 08:06

Many thanks.

I would also see this as late cycle, short term the current discount to NAV
may be attractive and one more run up towards the highs at 170 plus would not
surprise me, just imv.

[aleman] 04/2/2015 16:14

The main reason was I felt the bull run was getting long in the tooth and was due to end. Gearing here would backfire when things turned. (This already seems to be showing somewhat.) I feel there are some signs of things slowing in the UK but the government clearly wants to spin the party on a bit longer to the election and the media have been very cooperative. They can't spin corporate results up, though, and results seem to have weakened with the exception of housing and consumer. These two are driven by borrowing and cannot be sustained without the wider economy doing well. I think they will slump after the election and we could see more austerity announced (although debt/GDP is showing strong signs of peaking as both are growing at the same rate - but the balance is not yet strong enough to withstand a downturn). So I sold out here near the peak and looked for some other stuff with higher yields and hopefully a bit less vulnerable to a post-election downturn. That has produced very mixed results for me so far. I went for a couple of commodities plays that have fallen further but I still have increased dividend income to compensate - for now - and I have avoided some weakness here.

[essentialinvestor] 04/2/2015 10:34

Fat discount but possibly close to the peak in this business cycle.

Aleman, if you are around how come you sold out here?, TIA.