Ediston Property Investm... Share Discussion Threads

[spectoacc] 31/8/2021 16:17

Lol the only disadvantage with EPIC being a monthly divi payer.. ;)

[spectoacc] 31/8/2021 16:04

Not sure if it was all the redundancies, but IG seem to be the new Barclays Stockbrokers.

[gary1966] 31/8/2021 16:01

So hindsight you are telling me that IG aren't even consistent with their own clients!!

[hindsight] 31/8/2021 14:45

Checked and IG paid .333361 here

[gary1966] 31/8/2021 14:20

I have been told at 12:57 in an email that apparently there is 20% withholding tax. Then they explain the calculation and make .4167 less 20% equal .319935. I have asked previously for them to sack their custodians Citi as they are completely incompetent but they refuse.

[spectoacc] 31/8/2021 14:07

And why wouldn't IG receive the full amount themselves I wonder..

You've really got to watch them these days, but glad to hear it's going to be sorted (without a trip to the FoS).

[flagon] 31/8/2021 13:32

Just had a call back from IG ... all will be sorted wrt ISA dividends. If I understood correctly IG didn't receive the full amount themselves. I'll post again when the correct quantum is credited to my account.

[ramellous] 31/8/2021 13:27

ii used to pay pids net of tax in a sipp and only paid the tax back once a year. Thankfully in the last year they now pay the gross amount on payday.

[marktime1231] 31/8/2021 12:42

You are probably right those numbers look strange like IG needs to make an adjustment, my pid landed fully intact at AJB.

[spectoacc] 31/8/2021 11:37

Used to get it less the deduction in one a/c, then the deduction added a few weeks later (might have been Selftrade).

IG, however, are increasingly inept. Need to keep an eye on things like RI, divis, and commission charged.

[theprovosts] 31/8/2021 11:32

I have mine is an ISA, and can confirm IG decided this month to only pay 0.3p. Ive contacted them to ask why this is.

[marktime1231] 31/8/2021 11:11

EPIC pays out a "property income distribution" subject by default to 20% income tax deduction, unless your holding is within a tax-sheltered wrapper like a SIPP where your broker/platform is able to receive the payment gross. REIT or property companies making property income distributions are considered by HMRC to be "other income" rather than "dividends" for tax purposes, and tax is payable at your marginal income tax rate, the 20% deduction is a nominal assumption.

If you have received the payment net but tax was not due you will have to claim via the tax return process. Or, to simplify things in future, move your holding to a tax-sheltered wrapper which is approved to receive the distribution gross.

EPIC is a REIT even though it doesn't say so in the title, Property Income is.

[gary1966] 31/8/2021 10:13

Flagon, IG for me. Have just got off from live chat and Vineeth has sent a message through to Corporate Actions. Thanks for confirming in the past you have received the full amount with IG. If you could get onto them as well, if you haven't already done so, that would be greatly appreciated.

[flagon] 31/8/2021 10:00

Similar position to Gary1966

Full whack received via Interactive Investor
0.319935pps received via IG all prior EPIC dividends via IG paid in full

All EPIC are held via ISAs

[cwa1] 31/8/2021 09:57

Thankfully I can't be of any help as I got the full "whack" in both my providers. Which broker are you with(if you don't mind me asking)?

[gary1966] 31/8/2021 09:54

Any reason why I would have only been paid .319935pps dividend? Have I missed something about mystery withholding tax etc?

[marktime1231] 26/8/2021 12:52

Good news spotting spin doctor and alan and banj.

Cowie having to look back over five pretty tumultuous years to explain his doubts about physical retail in general rather than retail parks as a special case. But he is right to invite us to look past the dividend at the underlying realisation of income and value - in my view the recently declared improvements in rent collection will produce sustainable income to comfortably cover 5p and as skyship says we can look forward to a step up to 5.5p at the end of the year. The wide discount should close but is not doing so yet, investors remain mindful of the risks.

Morrisons is just next door on the right of that aerial photo, a separate plot, but still an anchor for trade along with a McDonalds. All sorts of businesses in EPICs bit which survived or thrived during lockdown and are less at risk from online shopping, and maybe enjoying a busy time fuelled by the property market. As has been pointed out EPIC have a go-to list of potential takers for the vacant lots including Aldi and Costa Coffee.

[alan pt] 26/8/2021 12:28

Looks like Morrisons was not part of the LaSalle package from this link: hxxps://completelyretail.co.uk/scheme/3334

Also makes it clear that there are 12 units, per PR (thought I was going mad counting 13 in the PDF, must be some subdivision I guess)

[catch007] 26/8/2021 11:18

I added a small tranche today at circa 75.6p. Regular monthly income and prospects of increased Divi and share price in due course.

[spin doctor] 26/8/2021 10:52

Looks like EPIC may have declined the superstore (Morrisons) element of the retail park that was part of the initial offer. That would have been lower yielding of course, and maybe less potential for income enhancing activity.

[alan pt] 26/8/2021 10:41

Strangely enough, I sold ASLI to buy EPIC 11 months ago. Still liked ASLI but didn't see it continuing to rise fast from what was already a premium (boy, was I wrong there)

Done significantly better with EPIC though, so no regrets!

[skyship] 26/8/2021 10:24

Yield: 6.94% on 5.00p; but 7.64% on the likely 5.50p post the Sept y/e

[banj] 26/8/2021 10:03

Ian Cowie opinion in todays ii:

(Ian Cowie owns shares in Aberdeen Standard European Logistics Income (ASLI) as part of a diversified portfolio of investment trusts and other shares.)


For example, Ediston Property Investment Company EPIC +3.78% today focuses on retail warehouses or out-of-town retail parks that enable shoppers to touch what they are buying without worrying about the risk of contagion in crowds or public transport. Some 70% of EPIC’s assets are invested in retail parks with its biggest exposure in Wales, which accounts for 22% of assets, followed by the North East with 16%. By contrast, BCPT is 35% invested in London’s West End and 20% in the South East.

Despite EPIC’s total returns of 48% over the last year, plus a mouth-watering dividend yield of 6.9%, this £294 million trust continues to trade at a 17.4% discount to its NAV. Once again, the explanation might be that shareholders’ income has been shrinking by an annual average of 2.4% over the last five years when total returns were also negative at -5.3%. That underlines the worry that investors in physical retail are buying the past when, as the historic saying goes, yesterday’s river grinds no flour.

It’s always reassuring and often rewarding to see an asset you own become fashionable. But that’s no guarantee of future returns from ASLI or BOXE. If we have seen peak WFH and some shoppers persist in wanting to touch before they buy, BCPT and EPIC might prove to be better bargains for the brave.

[catch007] 25/8/2021 22:00

Stirling is a good purchase imho excellent catchment area, local connectivity and a decent tenant base in situ. EPIC will already be syndicating the 2 vacant lots to its core tenant base probably to gain a strong food or discount operator. If they can fill the voids then income generation and yield increases with a subsequent NAV uplift. They have attracted exactly that mix in Haddington. Placed a top up fill or kill order in late trading today sadly it got killed!