Edinburgh Investment Dividends - EDIN

Edinburgh Investment Dividends - EDIN

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Stock Name Stock Symbol Market Stock Type
Edinburgh Investment Trust Plc EDIN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
3.00 0.45% 674.00 16:35:29
Open Price Low Price High Price Close Price Previous Close
669.00 669.00 674.00 674.00 671.00
more quote information »
Industry Sector
EQUITY INVESTMENT INSTRUMENTS

Edinburgh Investment EDIN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
06/06/2022InterimGBX6.431/03/202131/03/202209/06/202210/06/202229/07/202224.8
27/04/2022InterimGBX6.431/08/202131/12/202105/05/202206/05/202227/05/20220
26/01/2022InterimGBX630/03/202130/09/202103/02/202204/02/202225/02/20220
27/10/2021InterimGBX602/03/202130/06/202104/11/202105/11/202126/11/20210
28/05/2021SpecialGBX4.6531/03/202031/03/202124/06/202125/06/202129/07/202128.45
28/05/2021FinalGBX631/03/202031/03/202124/06/202125/06/202129/07/20210
28/04/2021InterimGBX631/08/202031/12/202006/05/202107/05/202128/05/20210
28/01/2021InterimGBX630/03/202030/09/202004/02/202105/02/202126/02/20210
03/11/2020InterimGBX601/03/202030/06/202012/11/202013/11/202027/11/20200
12/06/2020FinalGBX9.4531/03/201931/03/202025/06/202026/06/202031/07/202028.45
29/04/2020InterimGBX6.431/08/201931/12/201907/05/202011/05/202029/05/20200
27/01/2020InterimGBX6.430/03/201930/09/201906/02/202007/02/202028/02/20200
04/11/2019InterimGBX6.402/03/201930/06/201914/11/201915/11/201929/11/20190
12/06/2019FinalGBX9.2531/03/201831/03/201920/06/201921/06/201931/07/201928
23/04/2019InterimGBX6.2531/03/201831/03/201902/05/201903/05/201931/05/20190
25/01/2019InterimGBX6.2531/03/201831/03/201907/02/201908/02/201928/02/20190
05/11/2018InterimGBX6.2531/03/201831/03/201915/11/201816/11/201830/11/20180
31/05/2018FinalGBX9.231/03/201731/03/201821/06/201822/06/201824/07/201826.6
24/04/2018InterimGBX5.831/03/201731/03/201803/05/201804/05/201831/05/20180
24/01/2018InterimGBX5.831/03/201731/03/201801/02/201802/02/201828/02/20180
07/11/2017InterimGBX5.831/03/201731/03/201816/11/201717/11/201730/11/20170
26/05/2017FinalGBX9.1531/03/201631/03/201722/06/201723/06/201721/07/201725.35
24/04/2017InterimGBX5.431/03/201631/03/201704/05/201705/05/201731/05/20170
25/01/2017InterimGBX5.431/03/201631/03/201702/02/201703/02/201728/02/20170
07/11/2016InterimGBX5.431/03/201631/03/201717/11/201618/11/201630/11/20160
26/05/2016FinalGBX8.7531/03/201531/03/201609/06/201610/06/201629/07/201624.35
25/04/2016InterimGBX5.231/03/201531/03/201605/05/201606/05/201631/05/20160
26/01/2016InterimGBX5.231/03/201531/03/201604/02/201605/02/201629/02/20160
12/11/2015InterimGBX5.231/03/201531/03/201619/11/201520/11/201530/11/20150
21/05/2015FinalGBX8.631/03/201431/03/201511/06/201512/06/201531/07/201523.85
27/04/2015InterimGBX5.1531/03/201431/03/201507/05/201508/05/201529/05/20150
27/01/2015InterimGBX5.131/03/201431/03/201505/02/201506/02/201526/02/20150
13/11/2014InterimGBX531/03/201431/03/201520/11/201421/11/201428/11/20140
28/05/2014FinalGBX8.531/03/201331/03/201411/06/201413/06/201431/07/201423.5
28/04/2014InterimGBX531/03/201331/03/201407/05/201409/05/201430/05/20140
21/01/2014InterimGBX531/03/201331/03/201405/02/201407/02/201421/02/20140
14/11/2013InterimGBX531/03/201331/03/201420/11/201322/11/201329/11/20130
29/05/2013FinalGBX7.831/03/201231/03/201312/06/201314/06/201331/07/201322.8
22/04/2013InterimGBX531/03/201231/03/201301/05/201303/05/201323/05/20130
15/01/2013InterimGBX531/03/201231/03/201306/02/201308/02/201322/02/20130
08/11/2012InterimGBX531/03/201231/03/201314/11/201216/11/201230/11/20120
01/06/2012FinalGBX731/03/201131/03/201213/06/201215/06/201231/07/201222
20/04/2012InterimGBX531/03/201131/03/201202/05/201204/05/201223/05/20120
25/01/2012InterimGBX531/03/201131/03/201201/02/201203/02/201217/02/20120
10/11/2011InterimGBX531/03/201131/03/201216/11/201118/11/201130/11/20110
31/05/2011FinalGBX6.5531/03/201031/03/201115/06/201117/06/201129/07/201122.99
26/04/2011InterimGBX4.7531/03/201031/03/201104/05/201106/05/201120/05/20110
26/04/2011SpecialGBX1.2631/03/201031/03/201104/05/201106/05/201120/05/20110
26/01/2011InterimGBX4.7531/03/201031/03/201102/02/201104/02/201118/02/20110
11/11/2010InterimGBX4.7531/03/201031/03/201117/11/201019/11/201030/11/20100
11/11/2010SpecialGBX0.9331/03/201031/03/201117/11/201019/11/201030/11/20100
01/06/2010FinalGBX6.3531/03/200931/03/201016/06/201018/06/201030/07/201020.6
01/03/2010InterimGBX4.7531/03/200931/03/201010/03/201012/03/201031/03/20100
28/01/2010InterimGBX4.7531/03/200931/03/201003/02/201005/02/201012/02/20100
12/11/2009InterimGBX4.7531/03/200931/03/201018/11/200920/11/200927/11/20090
09/06/2009FinalGBX6.1531/03/200831/03/200917/06/200919/06/200924/07/200920.4
27/04/2009InterimGBX4.7531/03/200831/03/200906/05/200908/05/200922/05/20090
27/01/2009InterimGBX4.7531/03/200831/03/200904/02/200906/02/200913/02/20090
06/11/2008InterimGBX4.7531/03/200831/03/200912/11/200814/11/200827/11/20080
29/05/2008FinalGBX5.6531/03/200731/03/200804/06/200806/06/200822/07/200819.9
24/04/2008InterimGBX4.7531/03/200731/03/200807/05/200809/05/200822/05/20080
28/01/2008InterimGBX4.7531/03/200731/03/200830/12/200701/02/200808/02/20080
25/10/2007InterimGBX4.7531/03/200731/03/200807/11/200709/11/200723/11/20070
29/05/2007FinalGBX5.6531/03/200631/03/200706/06/200708/06/200718/07/200718.85
24/04/2007InterimGBX4.431/03/200631/03/200702/05/200704/05/200718/05/20070
19/01/2007InterimGBX4.431/03/200631/03/200731/01/200702/02/200709/02/20070
27/10/2006InterimGBX4.430/03/200630/09/200608/11/200610/11/200624/11/20060
05/06/2006FinalGBX10.8531/03/200531/03/200614/06/200616/06/200621/07/200615.25
28/10/2005InterimGBX4.430/03/200530/09/200509/11/200511/11/200502/12/20050
25/05/2005FinalGBX8.9531/03/200431/03/200501/06/200503/06/200522/07/200513.15
03/11/2004InterimGBX4.230/03/200430/09/200410/11/200412/11/200402/12/20040
26/05/2004FinalGBX8.9531/03/200331/03/200402/06/200404/06/200422/07/200413.15
22/10/2003InterimGBX4.230/03/200330/09/200305/11/200307/11/200303/12/20030
20/05/2003FinalGBX8.9531/03/200231/03/200304/06/200306/06/200303/07/200313.15
23/10/2002InterimGBX4.230/03/200230/09/200230/10/200201/11/200202/12/20020
22/05/2002FinalGBX8.6531/03/200131/03/200205/06/200207/06/200204/07/200212.75
24/10/2001InterimGBX4.130/03/200130/09/200131/10/200102/11/200103/12/20010
23/05/2001FinalGBX8.4531/03/200031/03/200106/06/200108/06/200105/07/200112.45
24/10/2000InterimGBX430/03/200030/09/200030/10/200003/11/200001/12/20000
24/05/2000FinalGBX8.2531/03/199931/03/200005/06/200009/06/200006/07/200012.15
27/10/1999InterimGBX3.930/03/199930/09/199908/11/199912/11/199903/12/19990
19/05/1999FinalGBX8.0531/03/199831/03/199901/06/199907/06/199902/07/199911.85
28/10/1998InterimGBX3.830/03/199830/09/199809/11/199813/11/199804/12/19980
20/05/1998FinalGBX7.7531/03/199731/03/199801/06/199805/06/199803/07/199811.4

Top Dividend Posts

Top Posts
Posted at 25/1/2023 07:09 by spoole5
Declaration of second interim dividendThe Directors of The Edinburgh Investment Trust plc announce that they have declared a second interim dividend for the year ending 31 March 2023 of 6.40 pence per ordinary share (2022: 6.00p). The dividend is payable on 24 February 2023 to Ordinary Shareholders on the register on 3 February 2023. The shares will be quoted ex-dividend on 2 February 2023.The first interim dividend of 6.40 pence per share was paid on 25 November 2022 to shareholders on the Company's register on 4 November 2022 (ex-dividend date being 3 November 2022).
Posted at 29/11/2022 17:46 by boystown
Featured on Master Investor this evening:

--

A lot has happened to the £1.2bn Edinburgh Investment Trust (LON: EDIN) in the last few years. In March 2020 the board replaced Invesco’s longstanding manager Mark Barnett after three years of underperformance and put in place a team from Majedie, a firm which was subsequently taken over by Liontrust.

Barnett’s value-based approach had been out of favour for a considerable time, but there were also question marks over some of his stock selection decisions. Once he had been sacked the board took the opportunity to reduce the annual management fee and switch to a tiered charging structure.

It looks like the changes are starting to pay off as James de Uphaugh and Chris Field, who have been running the fund since the removal of Barnett, have done a good job improving the performance. Since March 2020 the trust has generated NAV and shareholder total returns of 56.9% and 66%, significantly ahead of the FTSE All Share total return of 43.3%.

A key recent development has been the re-financing of the expensive 7.75% long-term debt, with the fund issuing £120m of loan notes at an average interest cost of 2.44% and average maturity of 25 years. This cheap source of capital should give it a competitive advantage in the years to come.

A new approach
EDIN offers a diversified portfolio of 40 to 50 listed equities based on fundamental company research. There are no in-built style biases with the fund typically containing a mixture of growth, value and recovery stocks, the aim being to add value regardless of the economic and market conditions.

The stock-driven analysis focuses on the identification of companies with strong and sustainable business models, multiple drivers of returns and quality management teams. It’s a high conviction approach with capital protection a key element, with the manager considering the downside risk for each holding and scaling the position accordingly.

At the end of September the largest holdings included the likes of: Shell, Unilever, BAE, AstraZeneca, Tesco and NatWest. The key sector weightings were retailers, biotech and medical, banks, oil and gas. Overall the historic dividend yield was an attractive 4.2% and the ongoing charges a competitive 0.52%.

Solid footing
Having taken over at the height of the pandemic the first step was to re-balance the portfolio and rebase the dividend to a more sustainable level. The long-term objective is to grow the distributions ahead of inflation with the first interim dividend having recently been increased by 6.7%. A decision is yet to be taken about the total pay-out for the financial year.

James de Uphaugh has put together a well-diversified portfolio with multiple drivers of returns that should be able to withstand the uncertain economic environment. He believes that the inflationary pressures are easing and draws attention to the low valuations that look cheap on pretty much whatever metric you want to use.

The broker Investec believes that the Edinburgh Investment Trust has made solid progress in rebuilding credibility after what was a traumatic period, while stronger foundations bode well for the future. They have a buy rating on the fund and say that if the healthy absolute and relative performance can be maintained then the discount should narrow from the current level of seven percent.

Posted at 15/6/2022 23:14 by steve3sandal
I suspect Cazoo is the stub following the take private of Daily Mail. The Board haven’t covered themselves in glory for a long time. From the outside even I could see that the previous manager had gone wrong in his stock picking. At YE the NAV is the same as 2015 and the Trust is £200m smaller after buybacks. Chair stepping down is more tenure than any admission of, well, add your own word.
But I do like what JDU has done and I keep adding when I see the portfolio and share price dips. Liontrust takeover of the manager promised a higher level of promotion but not happened yet. The rebased dividend won’t help Edin reissue shares at a premium which they aspire but they might trade close to NAV with 3 years of JDU outperformance of the All Share and a quieter macro background. One of my larger holdings.

Posted at 15/6/2022 20:42 by topvest
Just taken a look at the Annual Report. Majedie seem to be performing as expected really; slightly above the benchmark. Not sure why they have £2m in Cazoo at the bottom end of the portfolio. Seems a bit odd for their "value style".

I can't help thinking that the board could have kept the dividend flat again really, maybe with a special dividend again, as they have the reserves to do do. Lost opportunity now as the record has gone - will take 19 more years to get it back!

I also think the Board should be making more of the 130+ year history. Again, a missed marketing opportunity. To be honest, I am not that impressed with the Board - they seem a bit light weight for such a historical institution.

Posted at 27/4/2022 08:58 by bluemango
Nice to see an increased dividend, now 6.4p a quarter, translates to 4.1% yield if they maintained that level for all four payments - but surely there's a good prospect of a larger final in July (as in previous practice) to boost it still further.
Posted at 01/1/2022 19:27 by steve3sandal
Thanks for your contribution here, interesting tale and I think lots could benefit from selling poor companies and buying good ITs. My recent position here was started a year earlier when I felt Barnett was supporting some of Woodford's blue sky deals and his position and performance became untenable, and the discount opened up. I got some decent entry points and flagged a number of things to the Board though I'm sure that was incidental. I'm very impressed by James DeUpaugh and they've done a great job getting the NAV where it is. Sadly the discount which appeared under previous management is still with us but I'm hoping this will change. An improvement to UK sentiment and the takeover of Majedie by Liontrust may bring about more buyers than sellers. Also at its size Edin should be looking at a zero discount control policy.
Posted at 08/11/2021 19:20 by essentialinvestor
EDIN was overdue some catch up, which is why I highlighted it recently.
Now XD as well.

Posted at 26/10/2021 09:17 by rcturner2
Yes I agree, it is a pretty bog standard trust, but it does what it says on the tin, it gives you exposure to decent stocks at a discount with a steady dividend.
Posted at 02/6/2021 16:33 by boystown
Master Investor - Nick Sudbury says:

Edinburgh Investment Trust’s first full year’s results under new manager James De Uphaugh show clear outperformance and a narrowing of the discount.

Edinburgh Investment Trust (LON:EDIN) had struggled for years under Invesco’s Mark Barnett, so it was no great surprise when the board appointed Majedie’s James De Uphaugh to take over last March. It was fortunate timing with the transition period coinciding with the onset of the pandemic.

In its final results for the year to 31 March, the UK equity income fund made a NAV total return of 34.8%, which was well ahead of the 26.7% recorded by the FTSE All-Share as markets recovered from their March 2020 lows. The share price return was even stronger at 46.4% due to the narrowing of the discount.

Turnover was much higher than normal at 39% as the manager re-positioned the portfolio and reacted to the rapidly changing events during the year. Significant additions included Standard Chartered and Acsential, while legacy holdings in Glaxo, Legal & General and Barrick Gold were sold or reduced to increase the pro-cyclical tilt following the development of the first vaccine last November.

Plenty of upside potential

De Uphaugh believes that the UK is rich in stocks that are exceptionally well-placed both operationally and in valuation terms. In order to take advantage he uses a flexible total return approach with the concentrated 50-stock portfolio consisting of a mix of growth, value and recovery names.

Despite the recent strong performance, many British companies continue to trade at a discount to their international peers. It is possible that the successful vaccine rollout and the fact that Brexit is now behind us could enable the valuation gap to close, but the focus continues to be on fundamental research with the aim of identifying the stocks with the greatest upside potential.

Many of the largest positions are regarded as leaders in their fields and are likely to emerge from the crisis stronger. In order to protect capital, the manager considers the potential downside risk for each holding and scales the level of investment accordingly.

New starting point for the dividend

Lots of UK companies reduced their dividends during the pandemic and because of this the board decided to rebase the fund’s underlying distribution to 24 pence per share, a level from which it should be able to achieve sustainable growth ahead of inflation. This gives the shares a prospective yield of 3.75%, which is marginally below the four percent average from the UK equity income sector.

A special dividend of 4.65 pence has also been declared in respect of the year ended 31 March. It will be paid from the revenue reserves with the ex-div date being 24 June and will maintain the annual income in line with the previous year’s so as to protect investors.

A 12-month period is too short to properly assess the performance of the new manager, but it is reassuring to see that the fund has continued to outpace the index since the end of its financial year. The broker Investec has recently issued a buy recommendation with the shares available on a 4.5% discount to NAV.

Posted at 22/3/2021 11:53 by goldpiguk
Hi heialex1,

With many income investment trusts at or near NAV, EDIN still looks an attractive buy. It is my largest ISA holding (15,000 shares) and I am fully invested here.

The share price still suffers a little from negative sentiment following the sacking of the previous managers, and Majedie have yet to establish a proven track record at EDIN.

The refinancing of the debenture in the next few months should help sentiment, giving annual savings of c.£5 million (from memory), and I would expect the discount to narrow substantially over the next year.

Today I have made a small initial investment in Murray International (MYI), mainly to broaden my IT,ISA portfolio, rather than as a great buying opportunity. This is the first time I have bought an IT above NAV. IMO many IT's are currently looking a little over bought, but am happy to average in to new holdings and possibly build smaller positions in several IT's. These IT investments are intended to be held for many years and are not purchased for trading purposes.

EDIN is an attractive long term hold.

My portfolio of IT's is currently, (from largest to smallest by value):

EDIN, DIG, MRCH, AAIF, HFEL, MYI,

Goldpig

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