European Assets Share Discussion Threads

[panshanger1] 30/7/2021 13:46

Having a run at 150 NAV again

[marktime1231] 07/7/2021 13:02

When I wrote EAT might hit 150p NAV in the next few weeks I of course meant minutes.


edit ... just short by a whisker, so weeks it is then.

[rcturner2] 06/7/2021 06:27

At the moment they are paying 2p every quarter as the dividend.

[marktime1231] 05/7/2021 21:58

A dividend of 9p or more will be payable in 2022 if NAV on 31 Dec 2021 is 150p or more. The declared dividend policy is to pay 6% of NAV as at closing year end, the figure is usually established and declared in early January.

The progress in NAV and direction of travel indicates a NAV of 150p will be met in coming weeks, but it may not hold as you say. What is the outlook for European small- and mid-caps, good momentum for now, things can swing around but I am hopeful we will continue to see growth in the year ahead.

EAT has had a turbulent few years but recent progress has been linearly positive. Not sure where the NAV growth is coming from or what the opportunities are, quite a diverse portfolio, happy to leave it to the managers. Since it is such a good performer I sense the manager is disappointed that there is still an 8-10% discount to NAV on the share price, but since I am here for long term income that is not really an issue. If it does return to a modest premium it would allow the manager to expand the fund.

Already overweight here otherwise I would be adding with confidence.

[jfinvestments] 05/7/2021 21:15

When would that have to hold until? December is it?

[aleman] 05/7/2021 12:51

NAV of 148.63p seems highest for a while. That would be pushing a 9p dividend if it held.

[marktime1231] 30/6/2021 11:27

Thank you Aleman, the stuff about dividends was known so they are just crowing, the bit about reserves and cash was interesting. What are they trying to say, we are loaded, our yield is safe, we have deep pockets ... are they grumpy that EAT sits on a discount of around 9%, but that is normal.

The answer is to buy shares off the market at such a discount rather than sit on unused reserves? Or fold the trust and give everyone a 9% bonus?

Much more interested in outlook, value being created in stock holdings to improve NAV and so improve future dividends.

[aleman] 30/6/2021 06:43

July Quarterly Dividend

European Assets Trust PLC ("the Company") announces that a dividend of 2.0 pence per share will be paid on 30 July 2021 to shareholders on the register on 9 July 2021, having an ex-dividend date of 8 July 2021.

In addition, t he Company has paid dividends of 2.0 pence per share in January and April 2021. It will also pay a further dividend of 2.0 pence per share in October 2021. These four interim dividends, with a cumulative total of 8.0 pence per share, provide an annual payment to shareholders representing six per cent of the closing net asset value per share of the Company as at 31 December 2020.

As at 31 December 2020, the Company's audited financial statements reported a Distributable Reserve of £346 million. In addition, as at 28 June 2021, the latest practicable date prior to publication of this announcement, €15 million of the Company's €45 million multi-currency loan facility with RBSI was undrawn and the Company had a cash balance of €9.6 million.

[panshanger1] 01/6/2021 07:29

New all time high @ 138.50

[north sea boy] 25/5/2021 13:39

9p would certainly exceed my expectations Marktime, and I would be very happy see it maintained at current 8p. But as you say, very glad that I have stuck by this one myself. Best wishesNSB

[marktime1231] 25/5/2021 13:18

And with today's progress to 135p I think EAT share price is hitting a 5-year and all-time high? Thank goodness I stuck with EAT through its bad patch.

Since EAT converts asset value growth into dividends, by setting a 6% of year-end NAV as the payout, hopefully this means we can look forward to even better income next year. But it is NAV and not share price or the shrinking discount we need to watch. And remembering NAV gets diluted as Sterling gains on the Euro, so we are running into a slight breeze.

NAV peaked at 145p recently and is now about 142p compared to 2020 year end at around 136p. Ending they year over 150p for a 9p+ annual dividend would be terrific.

[panshanger1] 28/4/2021 11:38

New 52 week high @133

[rcturner2] 13/4/2021 11:02

The dividend is 8p for 2021 making a yield of 6.37% at the current share price.

[panshanger1] 08/4/2021 16:15

Nice to finish up on ex div day

[panshanger1] 07/4/2021 16:28

Spot on Took the HL figure without thinking Still offering value IMO

[aleman] 07/4/2021 15:13

The yield is 6.4%.

[panshanger1] 07/4/2021 09:57

Still on 11% discount yielding 5 % Happy to hold

[aleman] 07/4/2021 09:50

Ex-dividend is tomorrow. 2.0p.

[panshanger1] 08/2/2021 12:51

Discount starting to narrow

[soi] 12/1/2021 22:17

Hi

I was invested in this ages ago, sold out and only recently re looked.
Yes, quite a nice yield at current share price

I nibbled a few @ 120.44. High looking at chart, divi baked in albeit may drop by same amount tomorrow.
Modest size buy, allowing for a further tranche or 2.

Good Luck to holders

[north sea boy] 07/1/2021 14:52

Quite an impressive performance from EAT this year; well done folks.

NSB

[goldthorpe] 07/1/2021 08:49

8p dividend for 2021; NAV still creeping up. Lovely.

[panshanger1] 30/12/2020 11:36

At this NAV yield likely to be around 7% next year GLA