City Of London Investment Share Discussion Threads

[bothdavis] 22/6/2022 13:23

In 13 years + I suspect a lot of new shares issued instead of dividends, such as I do, or paid as bonuses.

[c29110] 22/6/2022 12:32

ssue of Equity. What does this mean exactly???? Cty keep issuing more and more shares. The most recent on the 17th June 2022 where they released another 470k shares.

In March 2009 there were around 207 million cty shares but now there are 458 million.

I thought investment trusts only had a certain amount of shares and that was it.

Are cty share holders being diluted or have I got the wrong end of the stick?

Will be very grateful if someone could please explain this.

[borisjohnsonshair] 21/6/2022 14:10

When I said replenished I meant at the pre-March 2020 market drop. That they are growing reserves again is reassuring.

[marko60] 21/6/2022 13:53

The dividend announcement on 7th April had this statement included "The 19.60p dividend for the year to 30 June 2022 is expected, based on our current projections for the revenue account, to be fully covered by earnings with a surplus carried to the revenue reserve."

[borisjohnsonshair] 21/6/2022 13:16

Div cover not at 1. Any concern with reserve still not replenished

[niklol] 16/6/2022 12:55

Me too.
Hope it doesn't drop too much more now we've bought!
Think Shell has taken it down today

[peterbill] 16/6/2022 11:01

Just added some more today ...

[topvest] 09/4/2022 15:59

Yes, always a steady performer. There has been no style drift which is good.

[north sea boy] 08/4/2022 09:06

It has certainly well exceeded my expectations, and fully covered by revenue. This has been a brilliant performance from CTY over the past 2 years.

[panshanger1] 07/4/2022 19:22

Brilliant Hats off to the managers

[bareknee] 07/4/2022 18:02

Turned out to be 5.0p in the end, with the RNS stating

" .... This would make a total dividend for the year to 30 June 2022 of 19.60p per share, an increase of 2.6% on the previous year and the Company's 56th consecutive annual increase. The 19.60p dividend for the year to 30 June 2022 is expected, based on our current projections for the revenue account, to be fully covered by earnings with a surplus carried to the revenue reserve."

Nice to see the reserves likely to be topped up.

[edward3] 06/4/2022 06:53

Divi News today ..

[gateside] 31/3/2022 10:00

I think they'll play safe and go for 4.9p

[gateside] 31/3/2022 09:58

Dividend update was issued on last Wednesday in March last year. Year before it was first Wednesday in April.So my guess is we will hear by Wednesday next week.

[north sea boy] 31/3/2022 09:28

4.9 perhaps, but can't see it stretching to 5??

[borisjohnsonshair] 31/3/2022 08:12

Div declaration due. 5p?

[gateside] 31/3/2022 08:10

52 week high

[tim 3] 12/3/2022 15:41

Yes a solid performer if ever there were one and if you bought after the covid drop you would probably be set for life at that price!Probably wouldn't fit in an ethical portfolio though lol !

[topvest] 12/3/2022 12:04

This trust has been increasing its dividend since the year I was born. A safe cautious home for your money in my view.

[topvest] 12/3/2022 12:03

Well they are certainly in the right companies (their top 10) at this point in the cycle!

[peterbill] 11/3/2022 16:43

From Trustnet

Top Holdings (31/01/2022)

1 British American Tobacco 4.202 Diageo 3.703 Shell 3.204 RELX 2.905 HSBC 2.606 Tesco 2.607 BP 2.408 M&G 2.409 Phoenix Group 2.4010 Rio Tinto 2.40Total 28.80

[edward3] 18/2/2022 07:52

Solid ....

"The Companys diverse portfolio, strong cash flow and revenue reserve give the Board confidence that it will be able to increase the dividend for the fifty-sixth consecutive year."