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GABI Gcp Asset Backed Income Fund Limited

-0.40 (-0.58%)
01 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Gcp Asset Backed Income Fund Limited GABI London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-0.40 -0.58% 68.40 16:27:57
Open Price Low Price High Price Close Price Previous Close
68.60 68.40 68.60 68.40 68.80
more quote information »
Industry Sector

Gcp Asset Backed Income GABI Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 08/2/2024 16:35 by neilyb675
The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce a quarterly dividend in respect of the period from 1 October 2023 to 31 December 2023 of 1.58125 pence per ordinary share (the "Q4 Dividend").

The ordinary shares will go ex-dividend on 15 February 2024 and will be paid on 15 March 2024 to holders of ordinary shares recorded on the register as at close of business on 16 February 2024.
Posted at 01/2/2024 18:54 by skinnypope
I tend to agree that there is a whiff of a takeover / buyout on the cards.

1. Delayed dividend – the cash pile is growing [and don’t forget the loan interest coming in every quarter ~£6m by end of Q1]

2. The RNS announcements re buybacks keep stressing “Any share buyback programme may be tempered by regulatory and commercial considerations in connection with any potential approaches for the Company at the relevant time.”

3. From the 29th Jan RNS, the shareholders being asked specifically “acceptable pricing on a potential sale of the Company”

4. The board being prepared to open the books for DD for a buyer at 72/78p [which seems a bit light]

5. Numis say the company is for sale – from Citywire “‘[The] announcement, alongside the relatively granular portfolio information provided on the company’s website, has the dual effect of providing shareholders with additional information to base their feedback and decisions upon, and puts a “for sale” sign up – making it clear to any potentially interested parties the options being considered by GABI’s board,’ said Jaffe.”
Posted at 01/2/2024 13:28 by cc2014
What I want to know is this:

GABI now has £50m in cash and no RCF.

It's planning a £7m buyback and and the dividend will cost them £7m, leaving £36m floating around doing nothing.

Surely they could use some of the £36m to fund a special dividend?
Posted at 29/1/2024 16:34 by loglorry1
I'm assuming (perhaps wishful thinking) that they'll aggressively buy back stock when loans are repaid over the next 12-18 months and that should juice the IRR a bit. GABI a bit different from DGI9 in nature but DGI9 starting to look a better bet than GABI but more risky.
Posted at 25/1/2024 14:36 by gemlotte55
Hocg, i thought they would have declared today, should be ex dividend on 1st February according to dividend max.
Posted at 25/1/2024 14:03 by garbetklb
Are dividends currently paused? I can't see anything that explicitly says so, but note the comment about cash being used to repay loans / buyback shares. But that appears to have been so for some time - before the December dividend was declared.
Posted at 18/12/2023 11:17 by cc2014
Hpcg. Money for sure is leaving the market to pay for mortgages or maintaining lifestyles or being put into 5%+ 5 year bonds etc but I would have thought that most of the sellers will be unsophisticated and own world trackers, US magnificent 5, or some other large tracker or ETF, not from a stock like GABI which most people have never heard of.

However, whilst I was digging through ADIG this morning I've discovered ADIG have sold 3.1m shares in GABI sometime between Feb and November this year. They have none left now. Whilst I see the actions of Aberdeen and thus the trade flow, I struggle with the why? They've been selling GABI at a discount to NAV to presumably buy private markets. I don't get it. It's not even an issue with Gravis as they've been adding to their holding in GCP.

Perhaps that's all the insight I need though. Do ADIG and some other funds really know what they are doing?
Posted at 13/12/2023 10:38 by cc2014
Logic has no part in the market.

The latest NAV is £397m. I cannot understand why the major shareholders seem to want to wind GABI up on the basis that it's not large enough or not liquid enough. On that basis you might as well wind up 75% of the Investment Trusts in the UK and the whole of AIM as well. (oh and hand over the whole of the financial markets to the US and close UK plc while you are at it)

Indeed at 60p, GABI was ranked 448th in the FTSE. Hardly too small.

So, the plan to resolve things seems obvious to me.

1. Pay off the RCF which will be done in the next 3 months. I expect the NAV will still be around £400m as both £30m of assets and £30m of liabilities will be gone.

2. Start buying back shares and keep doing so until the discount to NAV reaches 20%

3. When it gets to 20% see how big the NAV is and make a decision then about GABI's future.
Posted at 13/12/2023 09:39 by cc2014
lol. Good point Chucko. How embarrassing. Too much going on this morning with GABI, GCP, TENT at it as well.

GCP another one that's undervalued although perhaps by not as much as GABI
Posted at 08/11/2023 13:15 by speedsgh
Dividend Declaration -

The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce a quarterly dividend in respect of the period from 1 July 2023 to 30 September 2023 of 1.58125 pence per ordinary share (the "Q3 Dividend").

The ordinary shares will go ex-dividend on 16 November 2023 and will be paid on 15 December 2023 to holders of ordinary shares recorded on the register as at close of business on 17 November 2023.

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