City Of London Investment Share Discussion Threads

[topvest] 24/9/2021 21:18

It's a good trust this one and happy to hold. Its the only trust to have a dividend record = to my age....pretty impressive when you think about it!

Ultimately, the dividend record is better than the total return though which is more on the average side.

[gateside] 22/9/2021 21:22

Annual Results out yesterday....

The improved profits and dividends reported by companies recently in respect of the first half of 2021 demonstrate the strength of the economic recovery after the sharp fall in 2020. This turnabout has been helped by the unprecedented monetary and fiscal stimulus orchestrated by central banks and governments globally. In the UK, the high household savings ratio accumulated as a result of restrictions on activities, such as overseas holidays, is expected to be released through markedly increased consumer spending.

The recent rise in inflation is being interpreted by many commentators as transitory, with higher commodity prices, especially for oil and gas, being a key driver. The global fiscal and monetary stimulus is expected to be wound down as the recovery becomes more established, subject to the continuing success of vaccines against Covid-19, especially if inflation becomes more persistent. Markets have become used to ultra-low interest rates and large-scale central bank buying of government bonds. A change in policy for these measures will be a test and may result in a degree of turbulence.

The UK equity market offers good relative value as can be seen by the large number of takeover bids in recent months, including the approach for Wm Morrison Supermarkets, where City of London has a shareholding. Dividend declarations by some of our investee companies during the last quarter of the 12 month period and during the first two months of the next financial year have been particularly encouraging and, if sustained, will materially improve our full year revenue return next year. Given this, together with the quality of the companies in our portfolio and the advantages of our closed-ended investment trust status, we are confident of building on City of London's unique 55-year record of annual dividend increases and of continuing to provide reliable returns.

[panshanger1] 22/8/2021 11:37

Think for your grandchildren you want a growth fund But if your looking for income and want a trust that has increased its dividend every year for over 50 years with a decent yield and low charges this is worth a look

[deadly] 22/8/2021 10:29

....good one for the grandchildren?

NAV dowm 1.5% over 5 years, think they'd prefer the cash.

[gateside] 11/6/2021 09:47

52 week high

[deeker] 09/6/2021 16:45

Be nice to break £4 and get back to the pre pandemic £4/4.50 range

[ttg100] 07/5/2021 08:58

NAV not moved forward a lot but good one for the grandchildren

[thamestrader] 28/4/2021 10:41

yep, payday 28may

[gateside] 28/4/2021 10:34

Goes Ex-dividend tomorrow - 4.8p

[ttg100] 15/4/2021 10:06

Steady as she goes suits me these days

[ttg100] 13/4/2021 09:13

approaching ex divi on 29th

[panshanger1] 08/4/2021 08:56

New 52 week high @393

[ttg100] 31/3/2021 09:10

Article from Hargreaves Landsdowne today

"City of London Investment Trust
This trust is known as one of the Association of Investment Companies (AIC) Dividend Heroes – it’s managed to grow its dividend for more than 50 years. Whilst manager Job Curtis hasn’t been managing the trust for quite that long, he does boast a long track record. He’s managed the trust since July 1991.

The trust focuses on UK equity income – specifically looking for UK companies with the ability to grow earnings and pay dividends to their investors. Curtis favours quality, well-managed companies, chosen because he believes they’ll regularly add to the trust’s income pay-out.

Though income, like returns, isn’t guaranteed and past performance is not a guide to the future.

Curtis looks for companies that make plenty of cash, and are conservatively run, in his view. This trust could be considered for a portfolio looking for income, or to add investment to UK companies."

Still holding GL all

[speedsgh] 24/3/2021 20:27

Dividend Declaration -

A third interim dividend of 4.80p per ordinary share of 25p, in respect of the year ending 30 June 2021 will be paid on 28 May 2021 to holders registered at the close of business on 30 April 2021. The Company's shares will go ex-dividend on 29 April 2021.

The Board intends to declare a fourth interim dividend of 4.80p per share for the year to 30 June 2021. The fourth interim dividend will be declared in July 2021. This would make a total dividend for the year to 30 June 2021 of 19.10p per share, an increase of 0.5% on the previous year and the Company's 55th consecutive annual increase.

[ttg100] 19/2/2021 10:03

City of London Investment Trust Underperforms Benchmark In Half Year
Fri, 19th Feb 2021 09:39
(Alliance News) - City of London Investment Trust PLC said Friday it underperformed its benchmark in the first half of its financial year, blaming the underperformance on negative stock selection.

For the six months ended December 31, the investment trust's net asset value total return was 6.9%, compared to the FTSE All-Share Index which returned 9.3%.

City of London Investment's net asset value per share as at December 31 was 357.4 pence, up from 344.0p at the end of June.

The trust's share price at the end of December was 370.5p, reflecting a 3.7% premium to net asset value. The stock was trading 0.4% higher at 359.00p each on Friday morning in London.

City of London said the UK equity market fell slightly over the first four months of the fist half, with the outlook uncertain for many companies due to the Covid-19 pandemic. However, a rally took place in the final two months on positive vaccine news.

The company blamed its performance on negative stock selection, noting the biggest detractor was not holding equity investment instruments - especially Scottish Mortgage Investment Trust PLC - followed by being underweight in travel & leisure, including not holding Flutter Entertainment PLC.

It noted it was also hurt by its above-average exposure to gas, water & multi-utilities. In addition, some of its portfolio's more defensive holdings were underperformers, such as food manufacturer Nestle SA, US telecommunications operator Verizon Communications Inc and business publisher & events firm RELX PLC.

Looking ahead, Chair Laurie Magnus said: "The roll-out of three vaccines against the Covid-19 virus is very encouraging and provides "light at the end of the tunnel". It is unlikely, however, that there will be a smooth path to herd immunity for the UK or globally given current limitations to the supply of the vaccines and the apparent scope for the virus to mutate.

Governments and central banks have responded to the enforced lockdowns of economies as a result of Covid-19 with unprecedented fiscal and monetary easing. It is likely that, after a contraction in the first quarter of 2021, the UK and global economy will recover sharply over the rest of the year, with consumer demand bolstered by running down the high savings ratios accumulated while economic activity was restricted."

Turning to dividends, City of London said it expects to be able to increase the payout after having declared two interim dividends of 4.75p each during its financial year, noting the quarterly rate will be reviewed before the third interim dividend is declared in March.

By Ife Taiwo; [e-mail]

Copyright 2021 Alliance News Limited. All Rights Reserved.

"Bit middling but ok for the moment ttg"

[amggts] 16/2/2021 13:36

I've taken a similar view with CTY.

I'd prefer to allocate future profits towards this investment trust rather than add anoter buy to let to my property portfolio.

[damanko] 03/2/2021 17:49

Great comment AM. On a stress scale of 1 to 10, I'd say buy to let is 7 to 8, CTY around 1+/-...

I'm sure you're astute enough to be aware that capital gains in CTY is a long term affair, in fact the share price is back to a level last seen in 2013. Selling is all about timing.

I'm 130%+ up since buying CTY at various times over the years, though that's probably because to date I've always reinvested, gradually reducing the price paid.

As Dr Spock would say, "Go well and...".

PS: I have some damp stains in my bathroom, can you send somebody to sort it ASAP?

[amggts] 02/2/2021 19:07

I've added a few as well. I'd struggle to get the current cty yeild on a buy to let so i've taken a fairly chunky position.

Cty will never phone me up in the middle of the night complaining their boiler doesnt work:~)

[ttg100] 01/2/2021 09:52

added a few

[panshanger1] 01/2/2021 09:46

Well this behaves like the footsie 100 ( with a slight skew to the better dividend payers )which is also well down. Need to get through this phase of the pandemic( imo ) for it to make more progressThis IT is all about the dividend -increased every year for over half a century (ie never cut)GLA

[bothdavis] 01/2/2021 09:33

very frustrating how long it is taking to regain its past share price

[asmodeus] 01/2/2021 00:20

Buy what, Andy ?