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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| City Of London Investment Group Plc | CLIG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -2.00 | -0.51% | 387.00 | 16:35:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 389.00 | 389.00 | 389.00 | 387.00 | 389.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 24/09/2024 | Final | GBP | 0.22 | 03/10/2024 | 04/10/2024 | 07/11/2024 |
| 18/09/2023 | Interim | GBP | 0.11 | 29/02/2024 | 01/03/2024 | 28/03/2024 |
| 25/07/2023 | Final | GBP | 0.22 | 28/09/2023 | 29/09/2023 | 27/10/2023 |
| 20/01/2023 | Interim | GBP | 0.11 | 02/03/2023 | 03/03/2023 | 31/03/2023 |
| 19/07/2022 | Final | GBP | 0.22 | 29/09/2022 | 30/09/2022 | 04/11/2022 |
| 19/01/2022 | Interim | GBP | 0.11 | 24/02/2022 | 25/02/2022 | 25/03/2022 |
| 19/01/2022 | Special | GBP | 0.135 | 24/02/2022 | 25/02/2022 | 25/03/2022 |
| 13/07/2021 | Final | GBP | 0.22 | 07/10/2021 | 08/10/2021 | 29/10/2021 |
| 14/09/2020 | Interim | GBP | 0.11 | 04/03/2021 | 05/03/2021 | 19/03/2021 |
| Final | GBP | 0.2 | 08/10/2020 | 09/10/2020 | 30/10/2020 | |
| 16/09/2019 | Interim | GBP | 0.1 | 05/03/2020 | 06/03/2020 | 20/03/2020 |
| Top Posts |
|---|
Posted at 02/12/2024 08:38 by speedsgh Commencement of Trading on OTCQX® Best Market - City of London (LSE: CLIG; OTCQX: CLIUF), a leading specialist asset management group offering a range of institutional and retail products investing primarily in closed-end funds, is pleased to announce that it has qualified to trade on the OTCQX® Best Market. CLIG upgraded to OTCQX from the Pink® market. CLIG commences trading today on OTCQX under the symbol "CLIUF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. "Moving to the OTCQX Market is a significant milestone for the Group," said Tom Griffith, CEO. "This is an effort to enhance visibility among U.S. investors, improve liquidity, and broaden stock access, all of which support our strategic growth initiatives." |
Posted at 07/11/2024 18:37 by melton john Thanks bud, I just checked and a small detail, the divi is in GBP 33p and fixed for the last 4 years so the US holders get a varied divi depending on FX rate according to Stocko but strong pound still good for dollar earnings conversion to GBP. From final results:"Recommended final dividend of 22p per share (2023: 22p) payable on 7th November 2024 to shareholders on the register on 4th October 2024, making a total for the year of 33p (2023: 33p)" So a pound gets less strong dollars for US holders and so less divi, yes?? I need a lie down now. USDGBP-CLIG (red,not to scale) correlation free stock charts from uk.advfn.com |
Posted at 07/11/2024 17:24 by eggbaconandbubble Melton John - Yes, More pounds to the dollar is good for CLIGIf the dollar is strong you get more £s to each $. Exchange rate $1.30 - For $1000 divi you receive £769 Dollar strenghtens to:- Exchange rate £1.20 - For $1000 divi you receive £833. |
Posted at 21/10/2024 06:01 by skinny IM PerformanceInvestment performance calendar year-to-date remains strong with the majority of CLIM & KIM core strategies outperforming. Over the most recent quarter, Opportunistic Value outperformed its benchmark while the other CLIM strategies underperformed. KIM's municipal bond, US equity, and international equity strategies outperformed whilst fixed income, conservative balanced, growth balanced, and SPAC strategies underperformed versus benchmarks over the quarter. Flows Emerging Market net inflows of $46 million, on the back of a new $70 million account and a $20 million Listed Private Equity account, led sales efforts in the first quarter of the financial year. Net investment outflows were $195 million for the Group over the period led by rebalancing of International Equity mandates after strong market performance. The bulk of outflows at Karpus were from a cash management account client using the funds to make an acquisition. Dividend On 24 September 2024 the Company (LSE: CLIG) announced a final dividend for the year ended 30 June 2024 of 22p per share. Subject to approval at the AGM on 28 October 2024, this will be paid on 7 November 2024 to shareholders on the register as at 4 October 2024. This will bring the total dividend for FY24 to 33p (FY23: 33p). |
Posted at 20/10/2024 20:43 by pdosullivan Hi all. I have written a blog on CLIG, which I am a shareholder in, that you may find of interest. Feedback very welcome and - as ever - DYOR. The blog can be found here: https://tbifund.word |
Posted at 02/10/2024 07:04 by masurenguy Good fund performance and solid resultsCity of London has announced its full-year results for 2024. As stated in the trading statement, FUM was $10.24bn, a 9% increase over the year. While market performance offset net outflows, there was a significant improvement in the latter in the second half, which bodes well going forward. Underlying profit before tax of $27.2m was a 0.5% increase over 2023’s $27.0m. A higher effective tax rate meant that underlying EPS declined 3% from 43.4¢ to 42.2¢. As previously announced, the final dividend was unchanged, at 22p, making 33p for the year as whole. Cash balances increased, to $33.7m, from $25.9m as of 31 December 2023. Funds: Performance in the underlying funds was excellent, with the Emerging Markets strategy being the only major underperformer. Even that saw outperformance in the second half of the year. Four out of six Karpus strategies outperformed by more than 250bps, which will help marketing efforts. Estimates: Tighter fee margins and adverse exchange rate movements have led to downgrades of our earnings estimates. Our 2025E underlying EPS has decreased by 3% from 50.6¢ to 49.2¢ and our 2026E EPS has decreased by 2% from 55.5¢ to 54.1¢. Valuation: After the recent performance, the 2025E P/E of 12.5x is a noticeable discount to the peer group. A 2025E dividend yield of 8.7% is well above the market average and should, at the very least, provide support for the shares in the current markets. Risks: Although City of London has reduced its relative emerging markets exposure, it is still 36% of assets. It has proved to be more robust than some other fund managers, aided by its good performance and strong client servicing. Market volatility remains a risk, although increasing diversification is also mitigating this. Investment summary: Having maintained good long-term investment performance and operational control, City of London is well-placed to grow organically. We believe the valuation remains reasonable. Now that the Karpus transaction has settled down, the prospects for future dividend increases may be more dependent on markets and the ability to attract new business. |
Posted at 24/9/2024 06:06 by masurenguy FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2024, DIVIDEND DECLARATION AND BOARD CHANGEFunds under Management (FuM) of US$10.2 billion at 30th June 2024. This compares with US$9.4 billion at the beginning of this financial year on 1st July 2023 - Net fee income was $66.2 million (2023: $65.5 million) - Underlying profit before tax* was $27.2 million (2023: $27.0 million). Profit before tax was $22.6 million (2023: $22.1 million) - Underlying basic earnings per share* were 33.5p (2023: 36.5p). Basic earnings per share were 27.8p (2023: 30.2p) after an effective tax charge of 24% (2023: 21%) of profit before taxation - Recommended final dividend of 22p per share (2023: 22p) payable on 7th November 2024 to shareholders on the register on 4th October 2024, making a total for the year of 33p (2023: 33p) For access to the full report, please follow the link below: Dividend The Board is proposing to recommend a final dividend of 22p per share (2023: 22p), subject to approval by shareholders at the Company's Annual General Meeting (AGM) to be held on 28th October 2024. This would bring the total dividend payment for the year to 33p (2023: 33p). Rolling five-year dividend cover based on underlying profits equates to 1.19 times (2023: 1.24 times). The Board confirms the final dividend timetable for the year to 30th June 2024: · Ex-dividend date: 3rd October 2024 · Dividend record date: 4th October 2024 · DRIP election date: 18th October 2024 · Dividend payment date: 7th November 2024 |
Posted at 13/9/2024 15:38 by aleman CITY OF LONDON INVESTMENT GROUP PLC("City of London" or "the Group" or "the Company" or "CLIG") Full Year Results release date The Company is announcing a short delay in the release for our Full Year Results. The Group's auditor, Grant Thornton UK LLP (GT), has requested additional time to complete their standard procedures as part of the audit finalisation process. Results were due to be released on 17 September 2024, as set out in our pre-close trading update on 25 July 2024. As a result, the Board will now announce the final dividend and results alongside publication of its Accounts for the year ended 30 June 2024 on 24 September 2024. For further information, please visit hxxps://www.clig.com Tom Griffith, CEO City of London Investment Group PLC Tel: 001-610-380-0435 Martin Green / James Hornigold Zeus Capital Limited Financial Adviser & Broker Tel: +44 (0)20-3829-5000 |
Posted at 08/8/2024 12:08 by masurenguy PRE-CLOSE TRADING UPDATE for the year to 30 June 2024City of London (LSE: CLIG) provides a pre-close trading update for its financial year ended 30 June 2024. Funds under Management were $10.2bn at 30 June 2024, an increase of 8.7% as compared to $9.4bn at 30 June 2023. Investment performance was ahead of the benchmark for the majority of the Group's strategies during the financial year. CLIM's International Equity, Opportunistic Value and Frontier Markets outperformed, while Emerging Markets (EM) equity lagged its index over the period. KIM's fixed income strategies, international equity, conservative balanced and SPAC strategies outperformed their market indices over the period, while US equity strategy lagged its benchmark. Net investment outflows reduced significantly to $26m in the 2nd half of the FY, from $294m in the first 6 months ending December 2023. Net investment outflows totaled $320m for the Group over the 12 month FY as clients reduced exposure to EM due to ongoing geopolitical volatility. International equity strategies attracted more than $150m in net new inflows over the period. Attractive discounts in the strategies continue to be the focus of marketing efforts across the Group's asset classes. Dividend The Board expects the final dividend for the y/e 30 June 2024 to be in line with the previous year. Following completion of the y/e audit, the Board will announce the final dividend and results for the y/e 30 June 2024 on 17 September 2024. The Group's AGM will be held on 28 October 2024 and the Group expects the dividend payment date to be in November 2024 similar to last year's timing. |
Posted at 31/1/2024 12:49 by masurenguy SIX MONTHS TO 31 DECEMBER 2023: TRADING UPDATE AND DIVIDEND DECLARATIONCity of London (CLIG) announces that on a consolidated basis, as at 31 Dec 2023, FuM were US$9.6bn. This compares with US$9.4bn at the Group's year end on 30 June 2023. A breakdown by strategy: FuM ($m) Dec-23: Jun-23 EM 3,578: 3,580 KIM 3,618: 3,520 INTL 2,004: 1,983 OV 278: 244 Other* 98: 97 Total 9,576: 9,424: +1.6% IM Performance Relative investment performance of the Group's strategies was mainly positive over the period, with OV and Fixed Income strategies outperforming, International Equity neutral and EM slightly negative. Significant CEF discount widening through late 2023 was partly reversed in Q4 which helped relative performance into year-end while NAV performance was positive. Over the six-month period, there were net outflows of circa US$294m across the Group's strategies, led by EM redemptions at CLIM and required minimum distributions for KIM clients at year end. Marketing and sales activity has picked up significantly in January as clients and prospects review their investment allocations. We are focused on new mandates in a number of the Group's asset classes with very good long-term performance as CEF discounts are at compelling levels and there is ample capacity. Operations The Group's income currently accrues at a weighted average rate of approximately 70 basis points, net of third party commissions. "Fixed" costs are c. US$2.3m per month, and accordingly the current run-rate for operating profit before profit-share is approximately US$3.2m per month based upon current FuM. The Group has proactively undertaken cost reductions as part of normal operations reflecting the current market environment. Based on actions initiated to date, savings of c. US$2.5m of costs per annum will be fully realised in the next financial year. The Group estimates the unaudited profit before amortisation and taxation for the six months ended 31 December 2023 to be approximately US$13.9m (six months ended 31 December 2022: US$13.8m, restated in USD based on average exchange rate). Inclusive of our regulatory and statutory capital requirements, cash and cash equivalents stood at US$28.8m at the end of the calendar year (US$28.6m as at 30 June 2023, restated in USD based on closing exchange rate), in addition to the seed investments of US$2.4m. Our cash reserves will allow us to continue managing the business conservatively through volatile markets while following our dividend policy for our shareholders. The Company is currently in a close period which will end with the publication of results for the six months ended 31 December 2023 on 23 February 2024. Dividend The Board declares an interim dividend of 11p per share, which will be paid on 28 March 2024 to shareholders registered at the close of business on 1 March 2024 (2022: 11p). The Board confirms the following interim dividend timetable: -- ex-dividend date: 29 February 2024 -- dividend record date: 1 March 2024 -- DRIP election date/ deadline 8 March 2024 -- announcement of USD dividend 14 March 2024 -- dividend payment date: 28 March 2024 |
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