City Of London Investment Share Discussion Threads

[eggbaconandbubble] 30/9/2024 12:59

How does ADVFN get a yield of 11.43% - see 'Financials'.

[maty] 30/9/2024 07:21

I see they have had a few new staff change and I think 1 new director .. they specialist me in emerging markets CEF so this seems to be a good play for the next period change is in the air imo

[masurenguy] 28/9/2024 17:00

Yesterdays closing shareprice was a 12 month high.

[pretax2] 27/9/2024 15:53

Short squeeze time.

[mister md] 26/9/2024 14:20

Added some more yesterday and today - tried to get a few pennies off the offer price as spread was wide, but had to pay full price - I'll take that as a positive sign and assume lift-off is imminent ;-)

[montyhedge] 25/9/2024 11:18

Good post.

[eggbaconandbubble] 25/9/2024 07:33

It would be interesting to see the average yield year on year.

[skinny] 25/9/2024 07:22

Yes - very acceptable!

[mister md] 25/9/2024 06:56

Interesting table of dividend history included in the results, going back to 2005 !
Superb yield and with the shareprice now way off the highs reached post-Covid, hopefully some capital appreciation too ...

[skinny] 24/9/2024 11:44

From memory, they paid a Special dividend in March 2019 & March 2022 - so maybe March 2025?

[montyhedge] 24/9/2024 11:25

I thought quite good figures, they seem to pay a special dividend every now and then, so hopefully next year all being well.

[robsy2] 24/9/2024 11:10

Pretty good performance in difficult markets with lots of headwinds. They are doing Ok. The divi is key here.One of my better performers this year.

[pvb] 24/9/2024 09:39

I seem to remember he (Paton) expressed a cautious(?) view on CLIG.



George Karpus has some strong opinions:

[deanowls] 24/9/2024 09:35

I be interested in the views of Mr Karpus now, was it Maynard Patton that did a previous interview with him?

[skinny] 24/9/2024 08:22

I was going by the then latest SETs trade - the UT trade of last evening - 360p
which gives 9.17%.

That has now been superseded by an AT trade @366 which still gives a yield of @9.01%.

Anyway - perhaps too pedantic for some.

Its still pretty damn good!

[brucie5] 24/9/2024 08:21

Thanks. Every little bit helps. ;)
And I stand corrected.

[eggbaconandbubble] 24/9/2024 08:08

33/380 X 100

[pvb] 24/9/2024 07:46

...Nothing wrong in being pedantic! :-)

[skinny] 24/9/2024 07:44

Without wishing to be pedantic, I think the yield is more like 9.17%.

[brucie5] 24/9/2024 06:52

But dividend held and just covered at 8.7%. I hold.

[eggbaconandbubble] 24/9/2024 06:17

Disappointing

[masurenguy] 24/9/2024 06:06

FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2024, DIVIDEND DECLARATION AND BOARD CHANGE

Funds 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

[pvb] 18/9/2024 16:55

Still positive on share price today.