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CLI Cls Holdings Plc

86.20
0.20 (0.23%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Cls Holdings Plc CLI London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.20 0.23% 86.20 16:35:29
Open Price Low Price High Price Close Price Previous Close
85.50 85.50 87.10 86.20 86.00
more quote information »
Industry Sector
REAL ESTATE INVESTMENT & SERVICES

Cls CLI Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
06/03/2024FinalGBP0.053521/03/202422/03/202402/05/2024
09/08/2023InterimGBP0.02607/09/202308/09/202303/10/2023
08/03/2023FinalGBP0.053523/03/202324/03/202302/05/2023
10/08/2022InterimGBP0.02608/09/202209/09/202203/10/2022
16/03/2022FinalGBP0.053524/03/202225/03/202229/04/2022
11/08/2021InterimGBP0.023519/08/202120/08/202124/09/2021
10/03/2021FinalGBP0.05225/03/202126/03/202129/04/2021
12/08/2020InterimGBP0.023520/08/202021/08/202025/09/2020
05/03/2020FinalGBP0.050502/04/202003/04/202029/04/2020
14/08/2019InterimGBP0.023522/08/201923/08/201927/09/2019

Top Dividend Posts

Top Posts
Posted at 10/6/2024 09:29 by nickrl
MIxed bag on sales though as some still below even latest valuation maybe indicates bottom isn't in on offices. That said their strategy is to clear off ones with imminent refinancing largely so the interest bill doesn't keep creeping up and threatening divi cover.
Posted at 03/5/2024 07:39 by spectoacc
CLI divi landed yesterday in HL - wow. Love the lumpy ones.
Posted at 02/5/2024 14:03 by strathroyal
If it's dividend re-investment, then they are quicker off the mark than my broker! I'll go for the sale of Spring Mews for a good price as I've not been able to find anything about this.
Posted at 27/4/2024 18:15 by nickrl
@barnes dividend is covered by free cash flow currently. CLS historically weren't a REIT so they retained a much higher level of free cash and as their interest rate burden has increased they've been able to hold the dividend. They do have an increasing vacancy level and further refinancing to contend with that will erode this margin of safety but thats more than in the share price although with its incessant drifting lower i do keep asking myself what am i missing.
Posted at 24/4/2024 13:53 by skyship
Patience has to be the name of the game; and holding CLI provides a 9.6% covered yield whilst we do so.
Posted at 02/4/2024 20:48 by spectoacc
10% yields not so uncommon tho - eg SEIT, GSF (12%!), GCP (nearly), NESF. That's not counting the winder-uppers, which I'm sure holders will be hoping for 15%+ pa on (eg ADIG, API, GABI, VSL).

Think CLI being tarnished by both the US offices implosion (which could have years to run) and the wholly predictable RGL train wreck.

CLI is no RGL, but where will the price settle..
Posted at 12/3/2024 14:29 by spectoacc
It's a view, but it's about CLI's valuation, not the poor outlook. CLI can hang on until interest rates start to fall, and some other office providers have given up the ghost.

10p EPS and £2 s/p, maybe not. 10p EPS and 93p s/p, much more interesting.
Posted at 12/3/2024 14:01 by ammons
dated 7 March 2024, sell, FWIW

===========================================

CLS Holdings' office values continue their freefall

Investors waiting on a recovery in this property equity's fortunes should invest their time and money elsewhere

March 7, 2024

by Mitchell Labiak

Vacancy rate climbing

Earnings and dividend growth look weak

Pretty much any way you look at it, CLS Holdings (CLI) is headed in the wrong direction.

The landlord's portfolio of European office assets outside big city centres is nosediving in value even faster than last year as high interest rates and questions around post-Covid working continue. Its net asset value (NAV) has been slashed by 28.5 per cent from its 327p high point in 2021, while its shares have lost well over two-thirds of their value since a high of 311p in late 2019.

IFRS earnings per share (EPS) do not cover its flat dividend, but adjusted earnings per share (EPS) stripped of valuation changes does. However, that adjusted EPS fell from 11.6p to 10.3 because its net rental income growth failed to offset rising finance costs from its growing net debt mountain, which is now larger than its equity value. This enormous leverage makes it unique in the UK-listed property sector. Not in a good way.

Consensus forecasts are for adjusted EPS to nudge up to 10.6p by 2025 and for the dividend to hit 8.22p, but even this limited growth looks overly bullish. CLS' vacancy rate has climbed to 11 per cent from 7.4 per cent the year before, driven by its empty UK offices, where vacancy climbed from 10 per cent to 15.8 per cent. When there is so much space in your portfolio, it becomes hard to raise rents, something retail landlords know all too well. The discount to NAV might tempt some, but we believe this is a fair reflection of the strong possibility that CLS will need to offload its emptying assets into a depressed market to chip away at its debt. Sell.
Posted at 16/2/2024 10:20 by wshak
Hi Skyship,

I'm in for the long haul with CLI.

With a lot of these ITs, REITS, property companies, etc, I just want to see what prices look like when interest rates come down in 12 months, and clip divis whilst I wait.

I haven't gone mad on CLI but have a chunk that I wouldn't want to lose.

Main thing holding me back from investing more seriously is an investment that went badly wrong in Speymill Deutsche back in the day when there was also a ridiculous discount to NAV. Debt was much higher there, however.
Posted at 23/1/2024 16:29 by skyship
CLS Holdings (CLI) – Massive NAV Discount coupled with a very high Yield

CLI is a commercial property investment company with a £2.21bn portfolio split between the UK (46%); Germany (42%) and France (12%). It specialises in prime offices in prime locations. It has c718 tenants, including blue-chip organisations and government departments.

Exc. Shares held in Treasury, there are 397.4m shares in issue. As at 23rd Jan’24 CLI had a MCap of c£378m.

The family of the founder together hold 60% of the equity, with one family member, Bengt Mortstedt, serving as a Non-Exec director.

The quality of their properties can be viewed on their website; and of special interest is this presentation of a newly completed refurbishment in the City, in London:



06/03/24 – Prelims to 31st Dec’23


09/08/23 – Interims to 30th Jun’23


15/11/23 – Q3 Trading Update


Co. website:

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