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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Abrdn Diversified Income And Growth Plc | ADIG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.20 | 0.47% | 43.20 | 16:35:05 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 43.80 | 43.30 | 43.80 | 43.20 | 43.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 16/09/2024 | Interim | GBP | 0.0195 | 26/09/2024 | 27/09/2024 | 24/10/2024 |
| 29/02/2024 | Interim | GBP | 0.0142 | 07/03/2024 | 08/03/2024 | 27/03/2024 |
| 02/03/2023 | Interim | GBP | 0.0142 | 21/12/2023 | 22/12/2023 | 22/01/2024 |
| 26/10/2023 | Special | GBP | 0.0165 | 02/11/2023 | 03/11/2023 | 01/12/2023 |
| 02/03/2023 | Interim | GBP | 0.0142 | 21/09/2023 | 22/09/2023 | 19/10/2023 |
| 02/03/2023 | Interim | GBP | 0.0142 | 08/06/2023 | 09/06/2023 | 06/07/2023 |
| 02/03/2023 | Interim | GBP | 0.0142 | 09/03/2023 | 10/03/2023 | 03/04/2023 |
| 09/12/2021 | Interim | GBP | 0.014 | 22/12/2022 | 23/12/2022 | 19/01/2023 |
| 09/12/2021 | Interim | GBP | 0.014 | 22/09/2022 | 23/09/2022 | 20/10/2022 |
| 09/12/2021 | Interim | GBP | 0.014 | 16/06/2022 | 17/06/2022 | 14/07/2022 |
| 09/12/2021 | Interim | GBP | 0.014 | 03/03/2022 | 04/03/2022 | 31/03/2022 |
| 17/12/2020 | Interim | GBP | 0.0138 | 23/12/2021 | 24/12/2021 | 20/01/2022 |
| 17/12/2020 | Interim | GBP | 0.0138 | 23/12/2021 | 24/12/2021 | 20/01/2022 |
| 17/12/2020 | Interim | GBP | 0.0138 | 30/09/2021 | 01/10/2021 | 28/10/2021 |
| 17/12/2020 | Interim | GBP | 0.0138 | 17/06/2021 | 18/06/2021 | 15/07/2021 |
| 17/12/2020 | Interim | GBP | 0.0138 | 04/03/2021 | 05/03/2021 | 31/03/2021 |
| 13/12/2019 | Interim | GBP | 0.0136 | 24/12/2020 | 29/12/2020 | 22/01/2021 |
| 13/12/2019 | Interim | GBP | 0.0136 | 24/09/2020 | 25/09/2020 | 16/10/2020 |
| 13/12/2019 | Interim | GBP | 0.0136 | 18/06/2020 | 19/06/2020 | 10/07/2020 |
| 13/12/2019 | Interim | GBP | 0.0136 | 05/03/2020 | 06/03/2020 | 27/03/2020 |
| Top Posts |
|---|
Posted at 23/10/2024 07:25 by tiltonboy Patria PE (formerly Abrdn) have sold a slug of investments at 95% of NAV. Doubt there is any crossover with ADIG but it looks as if discounts have tightened |
Posted at 21/10/2024 09:14 by 2wild Updated nav 66.55p. Picked up 5000 at 42.66p this morning. 56% upside to NAV and a huge dividend yield as I await Capital Returns. |
Posted at 20/10/2024 18:04 by tiltonboy Abrdn have released a presentation on ADIG. Not certain whether it's on the website yet.Adds a little more colour, especially on commitments, but nothing much else |
Posted at 18/10/2024 10:42 by andmitch Ordinary shares 54.21% of cost base.B shares which were redeemed 45.79% of cost base. In document on ADIG website. |
Posted at 18/10/2024 10:24 by sll The (first) 38p+ capital return was done that way to keep it outside of CGT. It represented a diminution of one's book cost. ADIG specifically structured things that way to avoid CGT for those investors who could otherwise have been exposed to CGT - not those working through SIPPs and ISAs - as covered above. |
Posted at 18/10/2024 07:14 by citytilidie In answer to your question travester, if it’s not a dividend payment, it has to be a physical gain or loss for CGT purposes. Officially, there should be 2 specific ratios somewhere either online, or on the company website where you times your original purchase price with these ratios. One ratio will give you the new cost price, and the other would give you either a gain or a loss depending what you originally paid. Not many people use these, but it is the correct way if you want to be really exact. There are actually ratios every time a dividend is paid as theoretically you could end up in the long term paying tax on dividend income received and then capital gains on the profit when you come to sell as the book cost would be incorrect.As I said, most people just estimate it, so for ease, get everything in Isas in time is you can |
Posted at 27/6/2024 11:21 by skinnypope Note 2 to financial statement has a good breakdown of the income from the portfolio, which helps model the forward dividends.I had modelled the private assets generating around £10m p.a. but the income statement only shows £6-7m. "Overseas listed dividends" is quite a bit higher than I expected given the relatively smaller holdings ADIG had here - anyone got any ideas on this? Dropping the future income stream down to £6.5m brings my modelled dividends down, I see the forward yields now at ~5%, and the IRR including capital returns at 14%. Still a strong hold, but for capital rather than income going forward. |
Posted at 20/6/2024 11:30 by skinnypope @hohum - where have you seen that holding please?The only abrdn investment in Action that I can find is in their old APEO fund (now rebranded as Patria), in which ADIG has no holding? [ADIG did hold some 3i equity however, but this has now been sold]. Thanks in advance :-) While we wait for the capital return I just had another glance at my numbers and I'm still amazed that the share price hasn't re-rated higher. Post the capital return I see the following: 1. 38p cash return should drop the share price by 38p i.e. new share px = 44.3p 2. Market cap will be £133m, versus NAV of £209m [remaining cash £17m, PE assets £190m, £2m "others"] = discount of 36% 3. Discount is much higher than it should be compared to peers (roughly 25%), or even compared to earlier this year (Feb = 29%) 4. Forward dividends - a tough one this, but I see the annual dividends historically funded by the public assets around 33% [£5.5m p.a.] and the private assets by 67% [£11.5m p.a.]. Even if I cut that down to £10m p.a. from the private assets going forward, that's a dividend yield of over 7% |
Posted at 22/2/2024 16:04 by hugepants They say that going forwards dividends will be smaller and less regular whereas returns of capital will get bigger and less regular. Same end result though. This from the recent circular;Dividends The Board intends that it will continue to pay a sufficient level of dividend to ensure that the Company will not retain more than 15 per cent. of its income in an accounting period so as to maintain the Company's investment trust status during the Managed Wind-Down process. In addition, and in accordance with the Company's proposed dividend policy that is set out in the Accounts and will be put to Shareholders at the AGM, any dividend going forward will also reflect the Company's plan to return cash to Shareholders in a tax efficient manner. Therefore if Shareholders vote to approve the Investment Policy Resolution and put the Company into Managed Wind-Down, the Directors will still declare certain dividends based on the Company's net income but the quantum and timing of any dividends going forward will be at the sole discretion of the Board. In the absence of unforeseen circumstances, it is the current intention of the Board that the Company will pay an interim dividend around the end of March 2024, the Initial Return of Capital (subject to all the required Shareholder and Court approvals being received as noted above) around the end of June 2024 and a further interim dividend around the middle of October 2024. Thereafter, it is likely that dividends will be paid in smaller, less regular amounts principally for the purpose of maintaining the Company's investment trust status and capital will be returned progressively to Shareholders in larger, less regular amounts by the most efficient mechanism available. The Board will therefore be taking into account the UK tax consequences for Shareholders in determining the most efficient means of returning realised cash during the Managed Wind-Down process. |
Posted at 21/12/2023 16:13 by skinnypope Follow up post to my attempt to model the wind down cashflows.I agree I am way too pessimistic on the 30% discount to sell the Tranche 2 assets, and in fact it’s not outlandish to expect a decent accretion in the NAV of these assets in the coming year. I will move my discount to 20% on these, but still keep the discount to reflect the execution and timing risks, with ADIG being a slightly “forced” seller. I’ve spent a bit of time thinking and modelling the potential future dividend policy, which may be a fool’s errand, but here goes. - The dividends (and bond interest) paid out each year seem to be matched against the portfolio dividend and fixed income receipts fairly precisely. - If this is the case going forward, I can use the same portfolio wind down schedule to model decreasing income into the fund, therefore model future dividends. What follows here is total guesswork, but grounded in the above assumptions, so please treat with a healthy degree of scepticism. 1. Looking at the portfolio breakdown on the bonds / credit / equities portfolio being sold first, I see running yields generating around £5.5m per annum, roughly a third of the total pay-out ADIG is making. 2. The other income coming from the private assets is pretty impossible to know, except that it must be paying out around £10-11m per annum [if anyone can help validate this, I’d appreciate it]. 3. So, I will model the pay-out dropping on the Apr24 dividend by the full amount of the liquid portfolio (in other words the Apr dividend will be 0.95p per share), and then straight line amortises down every quarter on a pro-rata basis for the two private portfolios, down to zero at the end of 2028. So here is the punchline – with my pessimistic views on the selldown valuations combined with my new (possibly naïve) views on future dividends, I now have the total return up to an annualised 15.2% |
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