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| Announcement Date | Type | Currency | Amount | Ex-Dividend Date | Record Date | Payment | |
|---|---|---|---|---|---|---|---|
| 17/1/2024 | Dividend income or Cash Dividend | GBP | 0.01 | 25/1/2024 | 26/1/2024 | 28/2/2024 | |
| 18/10/2023 | Dividend income or Cash Dividend | GBP | 0.01 | 26/10/2023 | 27/10/2023 | 30/11/2023 | |
| 20/7/2023 | Dividend income or Cash Dividend | GBP | 0.0149 | 27/7/2023 | 28/7/2023 | 31/8/2023 | |
| 20/4/2023 | Dividend income or Cash Dividend | GBP | 0.01 | 27/4/2023 | 28/4/2023 | 26/5/2023 | |
| 18/1/2023 | Dividend income or Cash Dividend | GBP | 0.01 | 26/1/2023 | 27/1/2023 | 28/2/2023 | |
| 19/10/2022 | Dividend income or Cash Dividend | GBP | 0.01 | 27/10/2022 | 28/10/2022 | 25/11/2022 | |
| 21/7/2022 | Dividend income or Cash Dividend | GBP | 0.0148 | 28/7/2022 | 29/7/2022 | 26/8/2022 | |
| 21/4/2022 | Dividend income or Cash Dividend | GBP | 0.01 | 28/4/2022 | 29/4/2022 | 27/5/2022 | |
| 19/1/2022 | Dividend income or Cash Dividend | GBP | 0.01 | 27/1/2022 | 28/1/2022 | 25/2/2022 | |
| 21/10/2021 | Dividend income or Cash Dividend | GBP | 0.01 | 28/10/2021 | 29/10/2021 | 30/11/2021 | |
| 22/7/2021 | Dividend income or Cash Dividend | GBP | 0.0147 | 29/7/2021 | 30/7/2021 | 31/8/2021 | |
| 22/4/2021 | Dividend income or Cash Dividend | GBP | 0.01 | 29/4/2021 | 30/4/2021 | 28/5/2021 | |
| 20/1/2021 | Dividend income or Cash Dividend | GBP | 0.01 | 28/1/2021 | 29/1/2021 | 26/2/2021 | |
| 14/10/2020 | Dividend income or Cash Dividend | GBP | 0.01 | 22/10/2020 | 23/10/2020 | 30/11/2020 | |
| 16/7/2020 | Dividend income or Cash Dividend | GBP | 0.0146 | 23/7/2020 | 24/7/2020 | 28/8/2020 | |
| 16/4/2020 | Dividend income or Cash Dividend | GBP | 0.01 | 23/4/2020 | 24/4/2020 | 29/5/2020 | |
| 15/1/2020 | Dividend income or Cash Dividend | GBP | 0.01 | 23/1/2020 | 24/1/2020 | 28/2/2020 | |
| 08/10/2019 | Dividend income or Cash Dividend | GBP | 0.01 | 24/10/2019 | 25/10/2019 | 29/11/2019 |
| Top Posts |
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Posted at 13/4/2024 03:59 by peterbill issued June 2022 - Seems like nothing new on the NCYF website ... |
Posted at 19/12/2023 18:55 by redhill9 Interesting presentation and Q&A.I recall several posters on here being sceptical about NCYF due to the dividend (at the time) not being covered fully by income. That point was addressed and is now not the case as income exceeds dividend, plus dividend reserves of over 3p per share retained to enable smoothing of dividends should such a situation return. I've done well from NCYF since first buying when the share price was at distressed levels due to market panic over covid in March 2020. Potential over the future sounds reassuring from this presentation and I'm planning to continue to hold/add. |
Posted at 19/12/2023 15:03 by sharesoc In case you missed our webinar with CQS New City High Yield Fund Limited (NCYF, the recording can be found on our YouTube channel: |
Posted at 05/11/2023 14:24 by sharesoc ShareSoc Webinar with CQS New City High Yield Fund Limited (NCYF) 23/11/23 3pm. Caroline Hitch (Chair) and Ian “Franco” Francis (Investment Manager) will present a full overview of the company and will give an update on current performance and future plans. Register here: [...] |
Posted at 20/7/2023 15:10 by cc2014 I wanted to beat CWA1 to it!The Company announces its fourth interim dividend of 1.49 pence per share (2022 - 1.48 pence) payable on 31 August 2023 to shareholders on the register on 28 July 2023, having an ex-dividend date of 27 July 2023. Lovely jubbly. I shall look forward to this. |
Posted at 14/7/2023 12:25 by peterbill Estimated NAV 45.56Year high 54.80pYear low 43.03pPremium / Discount -3.42%Market capitalisation £230.51 mnDividend yield 10.1%Ongoing charge 1.55%Top 10 holdings at 31/05/2023 % of assetsGalaxy Finco Ltd 9.25% 5.15Shawbrook Group Plc 12.103% 5.01The Co-Operative Bank Finance PLC 9.5% 5.00Aggregated Micro Power Infra 2 Plc 8% 4.62Virgin Money UK PLC 8.25% 4.57REA Finance Bv 8.75% 3.58Stonegate Pub Co Financing 2019 PLC 8.25% 3.51Barclays PLC 8.875% 3.44Albion Fin & Aggreko Holds Inc 8.75% 3.04Inspired Entertainment (Fin) PLC 7.875% 2.91Near year lows so have just added to my small holding - FWIW - DYOR |
Posted at 04/7/2023 08:02 by giltedge1 Thanks CC2014, for detailed analysis hold off for now if goes to a 10% discount may consider, I think UK investors are swayed by yield, not total return. For example many successful companies make 20% returns on capital, but pay no dividend. UK investors like cash dividends. |
Posted at 12/6/2023 10:51 by guitarsolo I think I'll wait to see the year end results. I'm going out on a limb here and predicting a final quarter divided of 1.49p! Mangement will hail that they have (est) 15 years of dividend increases, conveniently forgetting that increasing the dividend by 0.25% a year for 5 years is a real terms cut.But more importantly will be to see whether the dividend is fully covered by EPS. I recall last year's accounts included a couple of delayed coupons (REA and Matalan?) which were paid in the current year so we will need to adjust for that in case it presents an over-inflated EPS in the current year. Also, let's see if the reserve account is intact, or better still has slightly increased. I've had these for many years so have pocketed lots of dividends. But I also remember buying some at over 62p! |
Posted at 25/5/2023 12:01 by marktime1231 I was lucky enough to get 56p when I sold out here a couple of years ago, spooked by management warnings that the dividend might be cut because income was not covering it and a suspicion that they were gearing up to compensate.Since then NCYF has dropped to sub 50p but is maintaining a healthy premium to NAV and is able to issue new shares regularly, there must be high yielding bargains available and plenty of institutional demand. More confidence here than SMIF for example where the premium has evaporated. Is the worst over? Is it worth trying here again, noting a probable 1.49p final is coming up and annual yield of 9% is on offer. Risky perhaps, but so is everything. Or is the strong premium enough to warn NCYF is expensive whereas SMIF, on a 3% discount (temporarily?), is a bargain on paper? |
Posted at 23/6/2022 10:53 by redhill9 CC2014, thank you for your response.I agree with most (not quite all!) of what you say. First, absolutely right about Raven being, most probably, a write-off and I’d certainly suggest NCYF should have sold out at the first hint of a Russia invasion but, trying to be fair, very few people thought the invasion would actually happen and was mere posturing and also we don’t know if selling once it happened was achievable (although I’d guess they probably could have sold at some price). Hindsight, of course. However, the point perhaps to be recognised is that NCYF is a High Yield fund and as such there will be risk – anyone who expects high yield without commensurate risk is in the camp of “both wanting cake and eating it”. More important is your point about the effect of dividends being paid from capital, which I understand and referred to it in my post, but the question is how much this is likely to continue/accelerate in the future. You mention that the share price has reduced from 100p to around half but, for perspective, my own situation is I hadn’t heard of NCYF until March 2020 when, on the advice of a friend, I had a look and started buying at 38p and then bought several more tranches in the following months. My average book price is just under 49p so the current annual dividend of 4.47p means a book yield of over 9%. That fact alone may influence my perspective on continuing to hold NCYF. Also, it may be relevant to add that, currently, all dividends received within my income portfolio are reinvested into other income stocks so when NCYF repays capital as an element of dividend this becomes reinvested somewhere else. I’m comfortable with this, so long as I remain aware that the yield contains an element of capital. For my own position, I see two key questions. The first question is: having bought the shares with the intention of a long term hold, how will the yield be affected over the foreseeable future? The second question is: would I be better to sell at the current share price of 53.6p, and giving up a current market yield of 8.3%, and invest elsewhere? Your answer for the first question is to suggest the long term return is more like 6% if the capital reduction is on average 2.5% per year. That may be correct but may I ask what timescale are you using for that calculation? For the second question, my own view is that, barring some significant change in known circumstances, I’m happy to continue holding NCYF within my income portfolio unless I can find a similar fund that offers a better yield allowing for normal considerations of risk/reward plus the impact of capital reduction. Do you know of any? A fairly extreme example may be Marble Point (MPLS) which is an investment company paying a yield of over 12% and I hold a small % in my portfolio, far less than NCYF, but MPLS is (I consider) much higher risk than NCYF. Regarding your point about Aviva Prefs drifting down to 100p and then being redeemed at par, I think I’m right in saying that after the debacle several years ago when they slipped into their financial report (apparently without the non-execs appreciating the implications) a comment that they were considering doing just that and the subsequent furore across the investment industry, resulting in the Aviva CEO and CFO each losing their jobs, Aviva announced that any future redemption of irredeemable prefs would only be by tender (as NWBD did recently at a premium to sp, a tender that wasn’t fully taken-up by a long way). Also, with that in mind, if Aviva Prefs drift down to 100p wouldn’t that, all other things being equal, likely be a reflection of the overall market rather than just prefs themselves? We may not wholly agree on NCYF and that may be partly due to different perspectives, but I do appreciate you're post above as it is always good to have someone challenge a point of view. |
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