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CLDN Caledonia Investments Plc

3,250.00
-25.00 (-0.76%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Caledonia Investments Plc CLDN London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-25.00 -0.76% 3,250.00 16:35:24
Open Price Low Price High Price Close Price Previous Close
3,265.00 3,260.00 3,275.00 3,250.00 3,275.00
more quote information »
Industry Sector
EQUITY INVESTMENT INSTRUMENTS

Caledonia Investments CLDN Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
21/11/2023InterimGBP0.189330/11/202301/12/202304/01/2024
23/05/2023FinalGBP0.49229/06/202330/06/202303/08/2023
22/11/2022InterimGBP0.18201/12/202202/12/202205/01/2023
26/05/2022SpecialGBP1.7530/06/202201/07/202204/08/2022
26/05/2022FinalGBP0.47330/06/202201/07/202204/08/2022
InterimGBP0.17502/12/202103/12/202106/01/2022
27/05/2021FinalGBP0.45901/07/202102/07/202105/08/2021
10/01/2020InterimGBP0.1703/12/202004/12/202007/01/2021
10/01/2020FinalGBP0.44525/06/202026/06/202006/08/2020
15/11/2018InterimGBP0.16605/12/201906/12/201909/01/2020
15/11/2018FinalGBP0.43227/06/201928/06/201908/08/2019

Top Dividend Posts

Top Posts
Posted at 13/3/2024 10:33 by riverman77
You're right, compared to the other PE funds CLDN seem to be making very little effort to tackle the discount, eg through buybacks. Hopefully they might announce something, but probably won't hold my breath. They have plenty of cash so certainly have the capability if they wanted to.
Posted at 13/3/2024 10:29 by cousinit
I'd just add, at current discounts I'd prioritise RCP over CLDN as they are buying back shares (admittedly, at a lower discount) but once there are some PE realisations I would expect the buyback to accelerate (so either would be accretive to NAV or start to close the discount)
Posted at 13/3/2024 09:06 by riverman77
Most of the PE funds have rerated a bit recently, while CLDN has gone the other way, so starting to look interesting as a trading opportunity if nothing else. About a third is in public equities so CLDN normally trades on a tighter discount than a traditional PE fund. Also I think the argument that the market distrusts PE valuations is becoming less plausible given the recent strength in stock markets.

CLDN now on a 38% discount. If I apply a 10% discount for the public equities and a zero discount for the 9% cash position, the market is valuing the private holdings (the PE funds and the direct holdings) on a 60% discount. These all look pretty solid positions so looks to be significant value here.
Posted at 29/2/2024 11:23 by skyship
IMO Fair Value at a 35.3% discount; but hardly cheap. QS99 seems to think the "yield is great" - bizarre or what! Yield a mere 2.01% - even less when he posted in December.

In the sector the highest yielder is the microcap MVI - Yield of 10.3% & Discount of 50.3%.

More routine would be APAX on a 7.3% yield and 31.8% discount.

PEY another good yielder at 6.9%; but discount just 25%

Highest discount from a major player is HVPE on 42%...but they are a stand-out - still no dividend as managers prefer to maximise their fees rather than reward shareholders!
Posted at 20/12/2023 10:04 by qs99
Peak interest rates IMO, small caps IMO will be back in vogue, more PE deals, all should IMO bode v. well for CLDN and have bought more...yield is great and discount to NAV looks unwarranted IMO....DYOR
Posted at 15/11/2023 19:27 by cousinit
This seems to explain a lot

hxxps://quoteddata.com/2023/11/encouraging-signs-cost-presentation-problem/?amp=1

Banks have to hold more capital due to AIF classification of ITs.No wonder we see wide spreads and thin markets.

Also I suspect with trusts like CLDN being in the 250 this is exacerbated by the index being used as a basket proxy for UK domestic outlook. Whips around with poor sentiment/index shorting and then covering on any positive news. Not sure if CLDN would be fully replicated in a basket given the lower free float or if other more liquid trusts generally used as a proxy.
Posted at 06/11/2023 13:11 by essentialinvestor
arja. a bit harsh perhaps - CLDN have
a proven track record of exits.
Now past performance, etc.

The holding I might be a little cautious on is the small pub chain - very difficult sector atm.
Posted at 05/11/2023 18:48 by arja
I guess the NAV is fairly irrelevant for CLDN with so many unquoted investments and why is has a massive discount to NAV quoted :)
Posted at 10/7/2023 16:38 by essentialinvestor
* Pennon has been very weak over the last month, but in terms of their overall investments that's tiny.

PE sector being hit hard with longer term rising rates and some questioning valuations in this context, obvs for CLDN PE exposure is a % of a wider portfolio.
Posted at 26/6/2023 10:56 by bigboyblue
It's a big discount. IGC (which I also hold) is interesting by way of a case study. They traded at a discount which was typically around 20-25% until 2 years ago when the board introduced a 2 yearly redemption facility. In 2021 the redemption was at a 6% discount to NAV and guess what; as the redemption date approached so the discount narrowed to around 6%. Post redemption it widened again, but nowhere near as much as it was previously. This year the redemption, in December, will be at a 3% discount and the recent share price has already narrowed to around 5-7%.

IGCs investments are all listed companies. A similar policy at CLDN would be more difficult because of the practical problem of valuing private companies accurately and selling them, if necessary, at short notice. However I'd have thought if the board wanted to narrow the NAV they could offer a redemption facility of around 10-15% without too much difficulty.

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