City Of London Investment Share Discussion Threads

[ttg100] 31/3/2021 08:10

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 ?

[andyj] 01/2/2021 00:11

A rare opportunity to buy below NAV at the moment.

[damanko] 26/1/2021 18:09

Cheers UK1, not everybody will have been aware, good to know.

[ukneonboy] 26/1/2021 11:48

Just in case anybody was not aware - here is some useful dividend data

Shares quoted "ex div" on 28-Jan-21

Dividend paid 26-Feb-21

Rate of dividend 4.75p per share

[damanko] 14/1/2021 19:53

Good luck ttg,

Keep the shares for a few years.

Reinvest the dividends of course.

I think you'll do okay.

Regards.

d

[ttg100] 14/1/2021 13:09

bought a few for the bottom drawer

[damanko] 11/12/2020 10:26

Boozey,

"The dividend is very modest". Really? Compared to current interest rates?. A strange comment in my view, given what is happening with Bank & Building Society accounts.

In any case, and leaving aside the more or less non existent income from putting money into a Bank or BS, my yield in CTY is hovering around the 20% mark.

Not a boast, simply a fact. I guess it depends how long ago an investment in CTY was made.

Go well etc, I reckon long term holders, or current investors with a long term view on this IT will do okay, as long as they ignore the blips, ignore market gyrations, and of course reinvest the dividends until such time that they require a cash income.

panshanger: Excellent point, one that the press seems to ignore, and always has, the Weekend money sections relentlessly recommend Unit Trusts, with far higher costs, and often mediocre performance by comparison.

bothdavis: Great post, concise, straight to the point. Though I wonder just how many people (in the big picture) are aware of what you've posted.

To put some of this City of London IT stuff into context:

This thread on ADVFN was started over 12 years ago.

And look at the number of posts... Enough said.


d.

[panshanger1] 11/12/2020 09:32

-And a dividend that has been increased every year for over half a century

[bothdavis] 11/12/2020 09:05

When you can get 0.1% on savings accounts I think the current 5.2% yield of City of London is damn good!

[boozey] 10/12/2020 23:56

A solid stock, the dividend is very modest - consistent but modest.

[mike the mechanic] 10/12/2020 10:19

Sign of investors looking for dividend income I think

[tim 3] 02/11/2020 11:26

HI guys.
Notice these are trading over 4% premium to nav, well above 12 month average, a sign of confidence?

[chc15] 22/10/2020 07:16

Might top up here, ex div next week.