City Of London Investment Share Discussion Threads

[edward3] 03/12/2022 09:26

Dividend should be announced in the next week and paid later this month ..

[killing_time] 03/12/2022 09:06

Yep, I haven't received the CTY div yet. HL are getting worse at paying dividends on time. Probably turn up on Monday.

[gateside] 03/12/2022 09:06

Interactive Investor paid it on 30th Nov. I have all my dividends on automatic reinvestment.It was reinvested yesterday on the 2nd.

[thamestrader] 03/12/2022 08:48

Anybody with HL received/not received their dividend yet?
Should've been paid on 30 November.
Unlike HL or CTY to be late.

[topvest] 19/9/2022 20:37

Results out today. Unusual timing, but they were approved on Friday by the looks of things. Anyway, good results and well covered dividend. 56th raise. A core holding.

[mike the mechanic] 31/8/2022 14:54

The money is invested in more shares by CTY in line with the investment policy.
Because CTY share price is at a premium to the net asset value this should be a benefit to existing shareholders
Conversely investment trusts trading at a discount to the net asset value often buy back shares as it should increase the value per share

[c29110] 31/8/2022 13:42

Issue of equity question?

In June 22 alone CTY issued over 4.4 million shares. What do they do with this money?

I hear Job talking about selling positions to buy into other shares but never any talk of the money raised through issue of equity.

[ramellous] 25/8/2022 07:15

Job recently getting interviewed. Says that they have stopped using reserves for dividends and are putting cash back into the reserves now.

[income investor] 22/7/2022 08:36

Many thanks for posting the webinar. I have held CTY for all of Job Curtis's 31 years as manager. It has been a good steady Eddie that let's you sleep at night. It doesn't have the excitement of Scottish Mortgage but it is very reliable and a good conservative income equity fund which continued to grow its dividends through the Global Financial Crisis and the COVID pandemic!

[mirandaj] 21/7/2022 20:09

Job Curtis
July update webinar

[bothdavis] 22/6/2022 14:23

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 13:32

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 15:10

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 14:53

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 14:16

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

[niklol] 16/6/2022 13:55

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 12:01

Just added some more today ...

[topvest] 09/4/2022 16:59

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

[north sea boy] 08/4/2022 10:06

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 20:22

Brilliant Hats off to the managers

[bareknee] 07/4/2022 19:02

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.