Share Name Share Symbol Market Type Share ISIN Share Description
Aberdeen Diversified Income And Growth Trust Plc LSE:ADIG London Ordinary Share GB0001297562 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.40 0.41% 98.00 403,997 16:35:13
Bid Price Offer Price High Price Low Price Open Price
97.80 98.00 98.00 96.60 97.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 20.78 17.91 5.58 17.6 311
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:37 O 70,000 98.00 GBX

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Date Time Title Posts
18/12/202017:19Aberdeen Diversified Income and Growth Trust plc 96

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Aberdeen Diversified Inc... Daily Update: Aberdeen Diversified Income And Growth Trust Plc is listed in the General Financial sector of the London Stock Exchange with ticker ADIG. The last closing price for Aberdeen Diversified Inc... was 97.60p.
Aberdeen Diversified Income And Growth Trust Plc has a 4 week average price of 94p and a 12 week average price of 88p.
The 1 year high share price is 116p while the 1 year low share price is currently 66.60p.
There are currently 317,185,238 shares in issue and the average daily traded volume is 543,803 shares. The market capitalisation of Aberdeen Diversified Income And Growth Trust Plc is £310,841,533.24.
neilyb675: Aberdeen Diversified Income and Growth Trust (ADIG) has a diversified multi-asset approach, aiming to generate attractive long-term income and capital returns. After a strategic review in October 2020, the manager intends to increase the share of private assets in the portfolio to 45% by Q221 and to 55% over the long term (vs the previous c 43% target). ADIG's investment committee will now be led by Nalaka de Silva, head of private market solutions at Aberdeen Standard Investments (ASI). While ADIG's NAV TR performance has lagged the benchmark in recent years, the shares continue to offer an attractive FY21 yield of 5.8% (based on ADIG's dividend guidance). The manager's plan to maintain or increase dividends should be supported by the lower interest expense post the partial bond repurchase in early November 2020 and the use of revenue reserves. ADIG's NAV TR performance has lagged its benchmark (Libor + 5.5% pa) since the strategy change in March 2017 to an increased focus on less liquid assets. The NAV discount has widened to c 10-22% since end-March 2020 from 5% before the COVID-19 pandemic. The last 12 months (LTM) dividend yield is 5.7%, ahead of its peers. We note that in FY20 dividends were covered by earnings.
rich1952: No matter how many they buy back, the price is not maintained.I just don't see a future for this trust.
hugepants: I suspect its pretty accurate and you can probably get daily prices for most of the portfolio ie. 15.4% of the portfolio: 14.6% of the portfolio: top ten are here which can all be priced And the EM bonds will have a daily price etc etc
hugepants: Looking at the 5 year charts on the HL website the discount here is usually in the 5%-10% range. So the current 20% discount is at least twice the norm. Also fyi from the June interims; Discount management policy The Company's discount management policy seeks to maintain the Company's share price discount to NAV (calculated excluding income, with debt at fair value) below 5%, subject to normal market conditions. Unfortunately, as explained in the Investment Manager's Report, we were not in anything like normal market conditions. As the pandemic worries took hold and investor concerns multiplied through March, the Company's share price fell sharply which resulted in the discount (calculated with debt at fair value) widening from 7.6% at 30 September 2019 to 12.1% at 31 March 2020. During the period, the Company bought back 3.1 million shares into treasury at a cost of £3.4 million. The Board will continue to monitor the discount and buy back shares in support of the discount management policy (or undertake share issuance if required) when it believes it is in the best interests of shareholders, whilst also having regard to the prevailing gearing level and the composition of the Company's portfolio.
wunderbar: I've been meaning to comment on this thread for ages and now finally getting round to it. This stock comes in for a lot of flack but I'm actually a big fan. Why? Because it's boring as hell, decidedly dull, it just keeps plodding on and pays a generous dividend, currently c.6%. I've bought multiple tranches of this stock ranging from 84p to 109p, first in 2016 (when it was known as British Assets Trust / BlackRock Income Strategies Trust) and the rest in past 12 months including today @ 90p. My average is c.97p so slightly down but nothing to be overly concerned about. During many months of Covid induced volatility ADIG has actually been the rock of my portfolio, star performer in terms of resilience/stability - unlike certain other stocks I own which saw values plummet 50-80% before recovering on vaccine news. And not to mention ADIG has continued paying quarterly dividends throughout Covid/Lockdown whereas many blue chip stocks suspended payments altogether this year. I understand a longstanding issue with this trust is poor capital growth over the years. It's true many other trust's have seen good/stellar growth in past 10 years (pre Covid crash) whilst ADIG has suffered significant capital erosion during same period. I hasten to add timing is crucial, anyone buying at top of cycle will always inevitably suffer. This snippet recently caught my eye, courtesy of Citywire/Numis (28 October) "ADIG NAV total returns have been 4% over the last three years, versus 24% for the MSCI AC World index". Needless to say the trust's Fund Managers have failed miserably during this time. This is one of the oldest trust's around, formed in 1898! I Googled ADIG's share price chart over maximum period dating back to March 1995 when share price was 87p, fast forward 25 years and today it's just 90p. Tells its own story - this is purely an income stock thanks to the perennially generous dividend rather than a capital growth stock. Mind you if you tallied up all the dividends over the years that'd be quite a sum. On a final note some of you asked why the share price dropped sharply today, at one point falling 5.4% or 5p @ 88p before slight recovery. Quite remarkable given it briefly touched 96p first thing in morning (thus falling 8% in just a few hours - and there's me saying this stock has been stable!). Whilst I couldn't find a specific reason I did go on to discover approximately 15 of the top 20 fallers today were Investment Trusts, so it's definitely sector related. Come tomorrow if there's a continuation of this downward pressure I might consider topping up again.
rich1952: Can anyone tell me what is the point of this share? Pity it's not wound up so that we can get some money back as it is constantly trading at a discount. From F & C, Blackrock to the current outfit, nobody seems to be able to make this share perform.
evendimmer: Bought as bset Feb '99. Changed control several times - never seen that price again, just limps from one distribution to the next. Monument to ineptitude.
essentialinvestor: I was just looking at ADIG this morning and thinking again why am I holding this!, Thankfully it's a small amount. The idea, from memory, is they would expect to mitigate about 50% of the falls in wider equity markets.
speedsgh: Half-Yearly Financial Report - HTTPS:// Performance Over the six months ended 31 March 2018, the Company's net asset value ("NAV") per share, with debt at fair value, fell by 0.1% on a total return basis. The Company's share price ended the period at 119.0p, resulting in a total return to shareholders over the period of 0.9%. By way of comparison, global equities (represented by the MSCI All Country World Index in sterling terms), returned -0.2%, UK equities (FTSE All-Share Index) returned -2.3% and UK government bonds (FTA UK Conventional Gilts All Stocks Index) returned +2.3% over the same period. The main positive contribution to shareholder returns over the period came from our exposure to listed equities. As noted in the Investment Manager's Report, the low volatility fund outperformed its benchmark index. In addition, the portfolio's equity exposure was reduced at what turned out to be favourable levels. Global stock markets made a strong start to the review period with many indices hitting record highs. The generally optimistic mood was shaped by the passing of tax reform legislation in the US, progress in the Brexit negotiations between the UK and the European Union, and some positive economic data from China. However, a sharp rise in volatility in the second half of the period reversed all of the gains. Speculation that the US Federal Reserve might accelerate monetary policy tightening, coupled with fears of a trade war between the US and China, hampered sentiment. Elsewhere in the portfolio, our private equity performance benefited from profitable realisations and valuation uplifts in several investments. Similarly, investments in global loans and asset backed securities, which are mostly related to corporate borrowing, also enjoyed buoyant market conditions throughout the period. The main negative contribution was from insurance linked securities which suffered losses as a result of several, unusually severe, natural catastrophes in 2017. Infrastructure also contributed negatively; falling share prices in the social infrastructure sector reflected negative political headlines and the collapse of Carillion, a service provider to a number of UK social infrastructure projects. Emerging market local currency bonds contributed negatively following a poor final quarter of 2017, but were largely unscathed by the return of volatility in other markets in the first quarter of 2018. The end of this reporting period marks the first anniversary of the Company's move to a new investment approach. Over the year ended 31 March 2018, the Company's NAV per share, with debt at fair value, rose by 4.5% on a total return basis. Overall, when the benefit of the shares trading at a narrower discount to NAV is taken into account, the total return to shareholders was +8.0%. This compared favourably to returns of +1.8% on global equities, +1.3% on UK equities and +0.5% on UK government bonds (using the indices noted above) over the same period. It should also be compared to our overall investment objective, namely that of delivering a return of LIBOR plus 5.5%, net of fees, over a rolling 5 year period; over the last 12 months, LIBOR plus 5.5% was equivalent to a return of 6.0%. Led by equities, most asset classes contributed positively over the year, with insurance linked securities being the notable exception. As envisaged in its Investment Policy, the Company's wide and diverse range of assets, with often very different return drivers and risk characteristics, ensured that the portfolio delivered much lower volatility than a portfolio with one or very few asset classes. As a tangible example of this, the maximum fall in the Company's NAV was 2.7% during the period of equity market weakness from January to March 2018, as compared to a 9.9% decline in the MSCI All Country World Index. Earnings and Dividends The Company's revenue return for the six months ended 31 March 2018 was 2.96 pence per share, compared to 3.17 pence per share in the comparable period ended 31 March 2017. This small decline in earnings is in line with expectations following the change in Investment Policy that was approved by shareholders in March 2017. In relation to the year to 30 September 2018, a first interim dividend of 1.31 pence per share was paid to shareholders on 29 March 2018. The Board has declared a second interim dividend of 1.31 pence per share to be paid on 27 July 2018 to shareholders on the register on 29 June 2018. The ex-dividend date is 28 June 2018. These dividends, paid and declared, have been fully covered by earnings in the period, reflective of the Company's move to a more sustainable dividend policy. Revenue reserves at 31 March 2018 are equal to around two years' dividend payout at the current annual rate. Discount Management Policy The discount, calculated with debt at fair value and excluding income, narrowed from 3.1% to 2.3% over the six months ended 31 March 2018. During the period 515,000 shares were repurchased in line with the Board's discount management policy which is, subject to normal market conditions, the prevailing gearing level and the composition of the Company's portfolio, to attempt to maintain the Company's share price discount to net asset value (ex income, with debt at fair value) at no wider than 5%. The Board continues to monitor closely the Company's discount or premium and will undertake share buybacks or consider a sale of shares from treasury, respectively, if it is in shareholders' interests to do so.
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