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MXF Medicx Fund

96.40
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Medicx Fund LSE:MXF London Ordinary Share GG00B1DVQL92 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 96.40 95.80 96.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Medicx Share Discussion Threads

Showing 326 to 347 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
24/1/2019
15:43
Skinny - Dividends that's what we want haha. Have been slightly underwater on these for a long time, that should rectify itself now.
losos
24/1/2019
08:34
It certainly looks that way and the word "dividend" is mentioned no less than 83 times in the RNS.
skinny
24/1/2019
08:07
Feels like a sensible move to scale. I shall be offering my irrevocable undertaking too!
steve3sandal
11/12/2018
09:20
Peel Hunt Hold 75.93 72.00 76.00 Upgrades

Liberum Capital Buy 75.93 90.00 Reiterates

skinny
11/12/2018
09:13
BUILDING A BRIGHTER FUTURE FOR PRIMARY HEALTHCARE INVESTMENT



MedicX Fund is a leading investor in modern purpose-built primary healthcare properties. Our investment supports the transformation of the primary healthcare estate in the United Kingdom and Republic of Ireland.

FINANCIAL HIGHLIGHTS AND KEY ACHIEVEMENTS

Another year of strong performance, reflecting progress and achieving notable milestones.

FINANCIAL RESULTS

· 11.4% increase in EPRA13 earnings per Ordinary Share, from 3.5p per share to 3.9p per share;

· 14.8% total return on EPRA NAV2 for the financial year (2017: 12.7%);

· 6.9% increase in EPRA NAV per share, from 76.5p per share to 81.8 pence per share;

· Continued increase in rent receivable, up 8.6% to £40.3 million (2017: £37.1 million);

· Profit before tax was £49.1 million for the year; 47.4% higher than 2017 (£33.3 million);

· 10.0% increase in annualised rent roll1,14 from £40.0 million to £44.0 million;

· 89.4% (2017: 89.7%) of rent roll was directly from or reimbursed by the NHS11, Irish GPs or HSE12;

· EPRA cost ratios reduced year on year to 18.4% from 19.8% with the investment adviser fee reduction due to reduce this further; and

· Independent expert determination of March 2015 rent review at Clapham increase of 35% (equating to a compounded 10.54% per annum increase over the applicable 3 year rent review period).

INVESTMENTS

· 18.6% increase in the value of the property portfolio to £806.7 million1,4. This is as a result of £99.2 million of capital investment to acquire standing let properties and fund developments through forward funding schemes, less £5.3 million of disposals and a £32.3 million net valuation gain;

· Net Initial Yield of UK assets 4.85% at 30 September 2018 (2017: 5.08%);

· £80.3 million of new committed investments in UK and Republic of Ireland, since 1 October 2017, with a weighted average cash yield of 4.63% together with the acquisition of three sites for £5.3 million in anticipation of new schemes;

· Competed £63.8 million corporate portfolio acquisition of 12 fully let primary care centres with 10 of the properties having an average age of 5.5 years, WAULT of 14.2 years and an average lot size of £5.3m; and

· Strong pipeline of approximately £144 million (2017: £175 million) of further acquisition opportunities including projects with a value of £69 million in solicitors' hands1 (2017: £100 million).

INVESTMENT ADVISER FEE REDUCTION

· The Investment Adviser has agreed a reduction in its fees to reflect the change in the Company's dividend policy and to reduce its costs. Effective from 1 October 2018, the performance fee was abolished, and the investment adviser fee will be £0.5 million per annum lower until the portfolio reaches £1 billion with tapering savings between £1 billion and £1.25 billion. This immediately increases next year's earnings by 0.113 pence per share.

CAPITAL MANAGEMENT

· Quarterly dividend of 1.51p per share announced on 1 November 20185; total dividends of 6.04p per Ordinary Share for the year or 7.4% dividend yield on a share price of 82.0 pence per share at 30 September 20186 (2017: total dividends of 6.0p per Ordinary Share; 6.6% dividend yield);

· Total drawn debt facilities of £446.1 million1 with a weighted average fixed rate cost of debt of 4.26% and an average unexpired term of 12.3 years, compared with 4.29% and 12.7 years for the prior year; and

· Net debt of £430.0 million equating to 52.6% adjusted gearing at 30 September 2018 (30 September 2017: £340.7 million; 49.5%)1,7.

UPDATE ON DIVIDEND POLICY

As announced in May 2018, the Company intends to declare a fully covered dividend for the 2019 financial year onwards.

This new policy of paying a fully covered dividend is intended to free up additional funds for the Group to invest in attractive opportunities, and enable it to deliver superior capital growth over time from a sector which continues to demonstrate attractive growth prospects.

Going forward, the Company intends to continue to pay shareholders the dividend on a quarterly basis, in March, June, September and December of each financial year and on a growing covered basis.

Subject to unforeseen circumstances and based on the current performance, the Directors are targeting dividends of 3.80p per share for the financial year ended 30 September 2019.

more.....

skinny
23/7/2018
07:33
Nice to see the NAV increase to 80.8p.

No mention of the next dividend, so I assume it's still 1.51p, and goes ex-dividend on 16 August, as stated on the company website.

buccini
29/6/2018
16:36
billy half the money is dividend and half is 'property income distribution'. This is because MXF gets its profits partly from rental income and some from sale of property - capital gain. If your shares are in an ISA or SIPP then it doesn't matter a jot. But if you are holding in an ordinary share portfolio then you will need to declare the two halves in different parts of your tax return. Dividends have their own zero rate allowance so you probably won't pay tax unless you have lots of share dividend income. The PID counts as income and as far as I can tell will be added to your other income and so might well be fully taxable, depending on how much other earned and unearned income you have.

This is not tax or financial advice.

grahamg8
29/6/2018
15:59
Got the balance of £120.80. Don't know why they split the divi up.

All's well that ends well.

billy5
29/6/2018
10:11
Received dividend today.

It shows 20k and the sum of £151.00.

Last quarter an amount of £271.80 was paid on the 29.3.18 for the same holding.

Am I missing something or is there more to come.

Any advice would be appreciated.

Billy.

billy5
22/6/2018
13:39
Not exactly the expected fund-raise but still - decent price:

22 June 2018

MedicX Fund Limited

("MedicX ", "the Fund" or "the Company")

Issue of Ordinary Shares

MedicX Fund Limited (the "Company") announces that earlier today, Friday 22 June 2018, it issued for cash 8,700,000 ordinary shares of no par value in the Company. The ordinary shares were issued under the Company's block listing facility, at a price of 81.25 pence per share.

The net proceeds raised will be used by the Company for general commercial purposes.

spectoacc
07/6/2018
13:40
Doing well, look odds-on for being able to raise the money above NAV again.
spectoacc
05/6/2018
11:28
No PID received and not expecting it for a while ...Youinvest (my broker) sort it out about six weeks after due date
badtime
01/6/2018
13:25
Still no PID in my account anyone else with Lloyd's had theirs ?
pooroldboy55
30/5/2018
11:40
For those that remain invested, Edison have released a new research note on MXF today...

Positioning for continuing growth -

speedsgh
25/5/2018
15:13
Citywire
Turning to our list of fallers this week, healthcare property company Medicx (MXF) made a splash, tumbling over 8% after saying it would cut its dividend next year having consulted with shareholders. The shares have yielded over 7% for some time but with the dividends covered only 61.5% by earnings in the half-year to March, the board has agreed it would be wise to move to a fully covered dividend in 2019, which could see payouts fall to 3.5p from the 6.04p expected this year.

It is thought this should broaden Medicx's appeal to investors. Winterflood Securities agreed, saying a prospective covered yield of 4.5% was attractive and the shares gained ground to close 6% down for the week.

Like some other alternative income trusts, Medicx shares have de-rated sharply in the past year from a 23% premium to just 6% last week. This week's fall leaves them 2% below NAV, their first discount in 10 years that leaves them with a Z-score of -1.9.

davebowler
25/5/2018
15:12
!FOLLOWFEED
davebowler
25/5/2018
12:44
Curiously, the stronger MXF are (or the nearer to NAV) the more likely they'll get the mooted fundraising away at or above NAV and the more hunky-dory everything is. The lower they are, the more negative it looks. ie buy dear, sell cheap :) So not looking too bad currently at c.79p.
spectoacc
23/5/2018
11:33
Held these for a few years and enjoyed the div...but on yesterday's news I dipped out on the same day at 78p
badtime
23/5/2018
11:16
Keith, quite a feisty response!
chucko1
23/5/2018
09:34
I agree and that will not be easy. Indeed when one adds in the risk of a Marxist government and a severely reduced yield and its risks begin to outweigh the rewards.
andyj
22/5/2018
16:01
Getting that fund raise away will be key, or they'll start to look like there's no more growth.
spectoacc
22/5/2018
15:49
Peel Hunt have a target of 72p .... still not enough for me ... 66p or less.
keith95
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older

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