Caledonia Investments Share Discussion Threads

[ianood] 09/2/2022 10:33

Nothing wrong with following a shrewd family such as the Cayzer's who have been around and successful for donkey's.

[chc15] 09/2/2022 09:03

This is the reason I don't invest here, too much family control.

[steve3sandal] 07/2/2022 12:57

I don't think it would make much difference to the discount but more buybacks would at least improve our NAV per share.

[mike the mechanic] 07/2/2022 10:57

I'd prefer more share buybacks to reduce the discount

[skyship] 07/2/2022 07:22

Glad to help. Just another feature which makes ADVFN so indispensable IMO.

[alanrussell] 06/2/2022 21:07

Hi Skyship, no I hadn't known that the FINANCIALS tab brought up all that info. Usually looked elsewhere - many thanks

[skyship] 06/2/2022 08:55

Just sent them an email; perhaps others might do similar...
[e-mail]
-----------------------

In May you will be announcing the Finals for the year to 31/03/22

It will be the 5th anniversary of the 100p Special dividend - made because of exceptional returns.

Well, the past 2 years will have seen a period of tremendously exceptional returns!

So, I'm emailing just to say that I hope the Board, having made disposals and built up a cash reserve last stated at £344m; will again decide to reward shareholders with a Special dividend.

This time around, it should be noted that a Special Dividend of 200p would cost just £109m - less than 32% of that last stated cash position.

[skyship] 06/2/2022 07:28

They should return more perhaps. They are again making exceptional returns & have built up CASH of £344m!

A 200p Special Dividend would cost just £109m...

[spoole5] 05/2/2022 21:53

Would still have plenty of cash even if they returned 100p

[skyship] 05/2/2022 08:26

JAF - thnx for flagging up that 100p Special Dividend announced back in May'17. Having done it the once then indeed, we could see another like that in a period of exceptional returns.

[skyship] 05/2/2022 08:06

alanrussell - as I'm sure you well know, but just in case:

At the very top of this page, click the FINANCIALS box - then scroll down to see the dividend record for the past 20yrs.

[spoole5] 04/2/2022 17:36

Another buyback

[jaf111] 04/2/2022 14:12

The divi issue is an intriguing one.....agree with Skyship's point re family, and also (I think) the trust has one of the longest unbroken runs of divi increases so would be reluctant to increase too much.

However with so much cash there could make a special divi payment.....indeed they did do this in August 2017 when they paid a 100p special (on top of the 39.9p final)

Whatever they do, I would hope there is some debate within the family / management
about the continuing very large discount, and what can be done to reduce it.

[alanrussell] 04/2/2022 13:37

You may well be right but I wonder if CLDN will maintain the same total amount of dividends paid which would result in an increased dividend per share. There was no sign of this in the interim, up by about 3%, but I will be interested to see what happens in the final. Time alone will tell.

[skyship] 04/2/2022 13:28

dip6666 - won't increase dividends other than small annual increments. Why? Because CLDN is controlled by the Cayser family - 48%.

Family owned businesses always prefer to leave the capital in the business to grow the NAV, rather than pay out returns to non-family shareholders.

[dlp6666] 04/2/2022 12:27

A shame (though they obviously have their reasons) that they don't use some of the cash to increase the dividend (which would also help tighten the discount).

[spoole5] 04/2/2022 12:02

They have 15% cash so plenty of dry powder

[apple53] 04/2/2022 11:20

Actually, I fear the GAINS on completed transactions may already have been in included in the December NAV. If this is not 100% clear, I guess I could write to IR.

I agree that other holdings await revaluation and so, absent a major market fall, the NAV remains understated.

[spoole5] 04/2/2022 10:53

Doesn't include the private equity holdings, they are valued twice a year

[skyship] 04/2/2022 10:52

Dn 1.9%. Commendably rapid with their update though!

Looking to add in the low 3500s:


free stock charts from uk.advfn.com

[spoole5] 04/2/2022 10:40

NAV 47.22, Down a tad.

[apple53] 04/2/2022 10:32

Thanks for the spot on BioAg, skyship. That's enough to put it pretty much at the top of the discount pile.
I have also bought some more. I had an oversized position last year when the discount got silly, then sold almost half prematurely and missed the last few quid. Swallowing pride and buying back in slightly above where I sold some.

I appreciate there are good trading opportunities in the trusts, but in the end I would prefer less volatility, and a more peaceful life, esp for those trusts with stamp duty (like caledonia). I'm probably just saying that now, though, as I think about not having sold the rest at £40, and will change my tune when I flip something.....

[andyj] 03/2/2022 04:40

I also bought in here yesterday, 2.5% initial allocation. Also in 30% cash, drip feeding...

[skyship] 02/2/2022 14:53

Ahh - so was he just liquidating an existing holding in a move to CASH? That I can understand having moved to 30% CASH myself very recently.

[spoole5] 02/2/2022 13:50

Just very bearish on markets in general. He runs a paper portfolio which people subscribe to, has a decent performance over the years, know someone who subscribes. He seemed to have overlooked the 15% cash position they have. Expect more buybacks tomorrow