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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cls Holdings Plc | CLI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.50 | -2.25% | 65.30 | 16:29:53 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 68.20 | 63.30 | 68.20 | 65.30 | 66.80 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT & SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 01/04/2025 | Final | GBP | 0.0268 | 10/04/2025 | 11/04/2025 | 23/05/2025 |
| 07/08/2024 | Interim | GBP | 0.026 | 05/09/2024 | 06/09/2024 | 02/10/2024 |
| 06/03/2024 | Final | GBP | 0.0535 | 21/03/2024 | 22/03/2024 | 02/05/2024 |
| 09/08/2023 | Interim | GBP | 0.026 | 07/09/2023 | 08/09/2023 | 03/10/2023 |
| 08/03/2023 | Final | GBP | 0.0535 | 23/03/2023 | 24/03/2023 | 02/05/2023 |
| 10/08/2022 | Interim | GBP | 0.026 | 08/09/2022 | 09/09/2022 | 03/10/2022 |
| 16/03/2022 | Final | GBP | 0.0535 | 24/03/2022 | 25/03/2022 | 29/04/2022 |
| 11/08/2021 | Interim | GBP | 0.0235 | 19/08/2021 | 20/08/2021 | 24/09/2021 |
| 10/03/2021 | Final | GBP | 0.052 | 25/03/2021 | 26/03/2021 | 29/04/2021 |
| 12/08/2020 | Interim | GBP | 0.0235 | 20/08/2020 | 21/08/2020 | 25/09/2020 |
| Top Posts |
|---|
Posted at 23/5/2025 15:12 by skyship JakNife - a brief and accurate summation of the Risk/Reward nature of CLI.Agree wholeheartedly. IMO CLI just bizarrely oversold. |
Posted at 23/5/2025 13:59 by jaknife shawzie,"Have I lost the plot? I thought that the dividend to be paid today was 2.68p per share, but I have received 1.18p per share. Anyone explain?" CLS is a REIT and pays two different types of dividends: A. A normal traditional "dividend" B. A "Property Income Distribution" (PID) [ FWIW the taxation of the two is different but from what you've said it sounds as if you must hold your shares in an ISA or SIPP otherwise you wouldn't have received 1.18p. ] This time round the "normal" dividend is 1.50p whilst the PID is 1.18p. You have been paid the PID (1.18p) and I would expect that the 1.5p from the normal dividend will be credited very soon! FWIW, this detail was in the notes to the accounts, if you search for "Distributions to shareholders and Total Accounting Return" you'll find it in the finals: JakNife |
Posted at 15/4/2025 13:55 by skyship A proposed final dividend of 2.68 pence per share, so as to retain cash to invest in the significant opportunities within our portfolio, resulting in a full-year dividend of 5.28 pence per share (2023: 7.95 pence per share). Dividend cover of 1.73 times, in line with the Group's revised dividend policy of the dividend being covered 1.50 to 3.00 times by EPRA earningsThey reduced the Final Divi by 50% (was 5.35p) |
Posted at 02/4/2025 08:56 by sigmund freud could someone please start a new thread with a new header please?i interpret the head of the current thread as very enticing and it can suck people in. when the reality is that as i predicted, the dividend has been reduced. which reduced both the yield and the capital through the fall in share price remember someone was promising you a "massive" 11% yield? can you be sure of who they are and what their intent was? can you truly believe anything posted on a BB by posters? there was a post on another company thread telling you to sell out of something else and get into cli just before the results. that should make you very cautious. and just to confirm, i am not part of any wider shorting group, do not hold any positions in cli, i was simply concerned about PI's potentially losing money due to the thread header and no one apparently challenging this. this is my last post on this company unless i see other things written that i want to bring to people's attention. |
Posted at 01/4/2025 20:24 by farrugia those selling because they reduced the dividend are very short-sighted. The dividend doesn't come from nothing - it comes from that company's balance sheet. If more money is left in the balance sheet it makes it a stronger company. We need this company to remain strong if we want to see the value to come out. Also, as soon as the dividend is paid, the stock price is deducted by the dividend amount!! |
Posted at 27/3/2025 09:01 by sigmund freud so, they delayed the annual report for a few days so they could publish this. perhaps they needed to get some good news out now because the report continues to show some stress, but it might not look quite as bad now.ok good news at least, spring mews has been sold. LTV down from 50.7 to 47.9 for a £100m deal. there were 2 more german properties for sale at another c£100m i think, so if they sell at comparative valuations LTV does start to look a little more sustainable at 45ish, but it really should be lower. as long as no further revaluations. i do remain concerned about potential over-renting. my main beef with this company is that they are clearly attempting a refinancing. but they are doing it by selling their assets. and it is their assets which are their future rental income. and hence future shareholder returns. and spring mews is one of their best properties because it is very fully let. they shouldn't be selling off the silver. i would not be holding out for asset appreciation in the current economic climate. they might well have needed to complete this sale before deciding on the dividend but it got too late for the sale to be confirmed for it to influence the dividend. i think any sensible company would reduce their dividend to pay down debt. i can't see it staying at its historic level. i can't see them doing a buyback. there are 40m shares sitting in the treasury already. imo they should refinance in a more typical way with a cash raise. however if they did that, the family holding would have to cough up a significant amount of that and i think it is the family who are perhaps under more pressure than anyone else here. they have lost an emormous amount of capital over the last 4 years or so. and lost their ceo and motivating force. so they keep things as he would have wanted them, in their eyes at least. often a large family holding is helpful for a business so they can steer the longer term plan. however in a refinancing situation their resistance to it becomes a hindrance. if they don't do a capital raise, i think the institutional shareholders will start to push for it and that will act as an anchor on the share price for ages. so my predictions for the report- no re-fi, reduced divvy, some further asset devaluation in the wider estate (not much though), ongoing stresses over financing, possible further sales. but also some good news re their redevelopment plan in vauxhall. chart - it is still in a very long term downtrend. there is some upside potential to around 90p which does look like quite a strong resistance level at the same level as the death cross. if you are lucky enough to have got in recently and it gets to that level, i would take the money and run. if the dividend is reduced you need another thread. again. there were some spectacularly wrong predictions in the old one. |
Posted at 21/3/2025 09:08 by sigmund freud some people seem to think that non-recourse loans make the company safer.understandable, that stops one turkey of an investment bringing down an entire company. but cli's structure has got way too complicated. even with some sales, there must be 120 or so subsidiary companies which have loans to 20 different lenders or so so no lender is quite aware of what their own position is in relation to CLI topping up their loan from the family trust. let's say that trust holds £100m. that's less than £1m per subsidiary company. from a lender's perspective, non-recourse loans are more risky to them than to CLI. so those types of loans will have stricter covenants. the banks will have to act more quickly to call time on their loans if they are getting under water. this is why the LTV going above 50% for the whole company is such a problem. there are clearly going to be subsidiary companies who are well underwater and their lenders will be getting twitchy. which lender blinks first? there might be a rush for the exit. CLI needs to cut its dividend. but it can't do that without potentially breaking its UK REIT status, which might have unforeseen consequences. an awkward place to be. FX has gone against them, not a lot, but every % counts at this level. they have told all their lenders that spring mews was going to be sold in december. then in early march. let's face it, someone only needs to break wind at head office for them to issue an rns. i suspect the sale has still not gone through. PI's with small holdings need to get out before the report is published, it is far too risky to hold. lots of CLI will be held by institutional holders who can't sell quickly in case that sale collapses the share price bad news might trigger a slow motion train crash and a continuation of a terribly long-running downtrend. put your money somewhere safer and sleep soundly for the next week or so |
Posted at 24/2/2025 20:52 by baner There is an excellent management team in CLS and very competent family owners. They will not gamble with the company, and accordingly will continue to take the LTV down to a comfortable level. My estimate is this will erode the NAV a bit further however with a stable financial position as a result: 160-180p pro forma NAV with 30% LTV and an 8-9% dividend yield within a year or two. There will then be a program of share buy backs, increasing the NAV again: this is an excellent chance to double your money in two years, while earning a really good dividend income meanwhile. The risk is not at all as high as the market seems to assume. |
Posted at 18/2/2025 15:19 by sigmund freud back here to post more doom i'm afraidthis chart knows more than you know, the down pressure is extreme, be careful. i do hope people took my advice to sell into any strength chart- barely got above the 20dma then fallen again, at all time low on this ticker today bigger volume on falling prices OBV still downsloping, more sells than buys, no sign of a trend reversal for people hoping for an increase in valuations, do not hold out too much hope. segro reported recently (who have properties that someone might want to hold), and their valuation was flat. no hope in sight for offices yet. compare share price returns v other reits since the recent lows from 1/1/25: crei-0.78% gpe 0.35% rgl 1.9% php 2.25% whr 6.8% supr 4.99% whr 6.8% bbox 11.8% cli -7.1% cli is sticking out like a sore thumb, something is different and something is wrong. do not get fooled by yield and nav. still no mention of vauxhall sale. if it isn't mentioned in the update next week, you have a problem if any cut in the dividend, that is a red flag. the dividend is covered by rents not profits. it would show they are in mitigation to avoid the company going into liquidation. it would likely need a re-financing with catastrophic effect on share price you only have to look at what re-fi's did to rgl and gpe, but they are looking more stable than cli now. the LTV is key, and it was way too high and not coming down, they are just hoping it will, until there is evidence to the contrary. imho, cli is a company that likes building shiny new buildings. all well and good when the market is going up and they think they are being clever leveraging. but they took their eye off the finances. if the LTV goes over 50%, forget this being a property company. it would be a finance story instead, and not a good one. you need to be brave and foolhardy, with deep pockets, to hold before the update. sell and buy back in when there is a definite bottom. apologies all, not shorting, just saying what i am seeing, which helps avoid bias |
Posted at 24/1/2025 11:34 by sigmund freud but if LTV is going up when they are selling properties, they are struggling to cover their debt financing. LTV will get closer to 100% the more properties they sell. hoping for a distribution at the end is akin to hoping that LTV does not exceed 100% at the end. they are essentially in the market trying to get out. in this commercial office market, you want to be a tenant and not the landlord.as the properties get sold, fixed costs as a % go up and any reduction in interest rates might be cancelled out by higher rates due LTV. the easiest assets to sell are likely to be the stronger ones. they won't have sold the rubbish ones, no one will buy at a price they want. valuations are likely based on completed sales that the valuer knows about which are based on predicted income from tenable buildings. in the current environment with office buildings that may be hopeful. a signficant amount of tenancies are to government depts, but there is no sign of a return to the office there. upcoming uk budget cuts mean more and more of governemnt tenancies will end. same probably true in germany. the sub-company structure is designed to prevent one lousy asset bring down a whole company. the safety of that disappears if many of the sub-companies are in the same position. some reits will thrive at the end of this period, but they will be the ones with the assets everyone wants. many of CLI's types of buildings are being converted to student lets in city centres. but the individual company nature means that none of them will be able to raise the cash to refurb on top of an empty tenancy. and if you are a student landlord, you buy at firesale prices (or should do). don't look at this as you would at VOD halfing their dividend. in VOD's situation, you hope it will allow the share price to grow for a capital return. if CLI halves their dividend, it is a financial red flag and that you might not have a company to give you dividends in future. imho |
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