Caledonia Investments Share Discussion Threads

[tykethat] 26/5/2022 08:27

It looks like the share price is going to be marked down appropriately. Out of one hand into the other!

[spoole5] 26/5/2022 07:54

Yes but the PE weighting is much lower here.

[skyship] 26/5/2022 07:34

Yes, thought shareholders might get 200p (see earlier post); however 175p a just pay-out.

Personally not currently holding as the NAV discount of 27.6% doesn't quite match the 35.1% at NBPE, yet alone the anomalous 41.8% at HVPE!!!

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Special dividend

The company has recommended special dividends in the past where either cash levels are high or there has been a significant disposal. Following the disposals of Deep Sea Electronics and BioAgilytix during the year, the board is recommending a special dividend of 175p per share at a cost of GBP95m. This provides a considerable enhancement to the long-term yield that Caledonia has delivered to shareholders which, on a ten year basis, is over 3%.

[spoole5] 26/5/2022 07:10

Still only a third of the cash pile!

[jaf111] 26/5/2022 07:02

175p special divi 👏👏👏

[spoole5] 25/5/2022 18:27

Special divi tomorrow?

[18bt] 24/5/2022 07:50

Results Thursday

[salvorhardin] 18/5/2022 08:00

Hi Flyer61. I'm going to have to pass on looking at I3E Energy. I'm very rusty nowadays when it comes to Oil and Gas companies, having almost entirely got out of the sector in 2015 asides from a few Soco International which were sold a few years later. Also I had never heard of I3E until you mentioned it, so I'd be starting from scratch!

And I have a lot on my plate for the next week, with the cricket season getting into full swing. Cheers!

[steve3sandal] 17/5/2022 20:55

They could get round that issue through a shareholder resolution. I haven't looked up the details but NAS have this issue covered so that Christopher Mills doesn't have to buy us all out.

[flyer61] 17/5/2022 12:51

Salvor hi,

If you get a chance can you run your analytical mind over I3E.

[salvorhardin] 17/5/2022 12:38

If Caledonia bought back a lot of its shares, this would increase the Cayzer family's stake to a large enough size where they would have to make a takeover bid for the investment trust.

The Takeover and Mergers Panel treats the Cayzers as a "concert party", the equivalent of a single entity, when it comes to their holding in Caledonia.

[spoole5] 17/5/2022 12:10

Ridiculous discount here, makes you wonder why they aren't buying back with all that cash

[skyship] 06/5/2022 13:10

Flyer - well, actually at the moment I'm out - switched allegiance to the massively undervalued NBPE, currently on an anomalous 40% NAV discount!

[flyer61] 06/5/2022 11:27

With you all the way on this one Skyship. This is where you want your money parked for the ultra long term.

[skyship] 06/5/2022 11:18

CLDN the first PE trust to report their Apr'22 NAV. Up 1.01% from 5032p to 5083p.

However the whole PE sector is under the cosh, so no reaction as they slip back to 3610p (29% discount); ahead of this month's Prelims which may well reveal a Special Dividend. Possibly as much as 200p.

[skyship] 20/4/2022 12:48

3780p - a late reaction to the Questor article; or someone knows or anticipates a good Special Dividend in the offing!

[skyship] 15/4/2022 10:02

A bit more than a mere mention. A full blown tip which will likely provide a reasonable rise on Tuesday.

[alanrussell] 14/4/2022 11:34

A mention in Questor column FWIW. Basically says no reason for such a discount therefore cheap. We may already know that.

[joe say] 09/4/2022 08:44

Laura need to expand her vocabulary somewhat vis a vis the response I (and others) have received;


Thank you for your email.

I have passed your feedback about dividends on to the team.

Kind regards

Laura

Alternatively, I may apply for a similar role - if all that's involved is a copy and paste!!!!

:)

[apple53] 08/4/2022 12:08

They could also buy shed loads of stock back and set a precedent (like in the US), that discounts CAN be controlled most of the time.
(Ducks to avoid the brickbats from the divi-fans)

btw the NAV impressed me even allowing for the 'baked in' chunk.

Without spending a chunk of time comparing the full year valuations with half year, it's quite hard to tell how private capital has done very recently, but presumably still well given the upside surprise (for me) on the NAV.

One thing to bear in mind that this is the first of the names that I look at with delayed valuations to have an end March NAV, which will include USD strength, impacting the quoted and funds portfolios (an upside which will be a following wind for the other names).

And that valuations for the funds portfolio will be down from end December (c. 22% of NAV possibly down 5%).

[joe say] 08/4/2022 07:55

I'll await Laura's email then as I too have sent in a similar 'request'

[jaf111] 08/4/2022 07:27

...but at least it's a consistent message!!!

[skyship] 07/4/2022 21:03

My response the very next day was pretty similar!!!
=================================================

Thank you for your email.

I have passed your feedback about dividends on to the team.

Kind regards

Laura

[jaf111] 07/4/2022 18:52

Thanks dlp6666