City Of London Investment Share Discussion Threads

[gateside] 12/2/2022 11:49

Half Year Report was out last year on 18th February - so I'd expect results in the next week or so.

[damanko] 25/1/2022 20:51

Cheers dV.

Ironic, n'est pas... Income becomes a little more important the older people get, and the less they rely on a regular, monthly income from employment...

[dissentingvoices] 25/1/2022 15:30

QUARTERLY DIVIDEND UPDATE

Interim Dividend 4.80p per share

Ex Dividend Date 27/01/2022

Payment Due 28/02/2022

[deeker] 17/1/2022 13:22

Very close to 2 year high :-)

[gateside] 17/1/2022 08:37

52 week high :-)

[ttg100] 01/1/2022 21:07

Thanks TT have been in hospital so just seen. Interesting.

Steady as she goes;)

[thamestrader] 17/10/2021 17:07

II had this to say.......

QuotedData highlights the fact that Finsbury Growth & Income Ord FGT and City of London Ord CTY trust, one of the three on a premium, are not only the largest trusts in the sector but the ones pulling in new business: CTY issued more than £106 million of new shares in the 12 months to end June 2021.

Yet CTY’s long-term figures lag most trusts at just 3.9% per year over the past five years. Only two trusts, Temple Bar Ord TMPL and Edinburgh Investment Ord EDIN, returned less, and TMPL’s performance has picked up markedly since a managerial change last year. In contrast, FGT has returned more than 9% a year over that five-year time frame.

It begs the question of why investors persistently return to CTY. James Carthew of QuotedData points to its status as an Association of Investment Companies' (AIC) dividend hero with 55 years of unbroken dividend growth. “CTY gets a lot of attention for leading the dividend hero table,” he explains. “Additionally, manager Job Curtis has a great reputation. It’s also large, and I think there’s a tendency for people to associate size with success and solidity.”

Nonetheless, the data suggests there may be stronger candidates for anyone looking at the sector’s capacity to deliver steady total returns and reliable income streams through difficult times, and keen to capitalise on these surprisingly sticky discounts of up to 9%. “Why not pick up a bargain if you can?” Carthew asks.

QuotedData ranked the UK equity income trusts from 1 to 22 (where 1 is highest) on each of six measures: yield, five-year NAV total returns, five-year dividend growth, discount, size and number of years’ consecutive dividend growth. A simple overall ranking was calculated by simply adding the six numbers together for each trust, so the one with the smallest total tops the table.

(CTY came 8th in the table, LWDB came top).

[panshanger1] 16/10/2021 07:54

Now trading at a discount too Very rare for a trust with sort of dividend record

[bothdavis] 02/10/2021 15:27

In The Times this week too.....very positive outlook.

Said it is undervalued and a great divi!!

[mirandaj] 02/10/2021 08:12

Interesting comments:

[topvest] 24/9/2021 20:18

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 20:22

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 10:37

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 09:29

....good one for the grandchildren?

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

[gateside] 11/6/2021 08:47

52 week high

[deeker] 09/6/2021 15:45

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

[ttg100] 07/5/2021 07:58

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

[thamestrader] 28/4/2021 09:41

yep, payday 28may

[gateside] 28/4/2021 09:34

Goes Ex-dividend tomorrow - 4.8p

[ttg100] 15/4/2021 09:06

Steady as she goes suits me these days

[ttg100] 13/4/2021 08:13

approaching ex divi on 29th

[panshanger1] 08/4/2021 07:56

New 52 week high @393