Share Name Share Symbol Market Type Share ISIN Share Description
Law Debenture Corporation Plc LSE:LWDB London Ordinary Share GB0031429219 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 760.00 760.00 763.00 - 1,108 08:02:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 57.1 26.7 21.6 35.3 932

Law Debenture Share Discussion Threads

Showing 101 to 123 of 125 messages
Chat Pages: 5  4  3  2  1
Good thorough piece of research. Excellent first half performance. Unfortunately fully reflected in the now virtually non existent discount. Hopefully the service business will continue to grow and the UK seems a decent market to be in at the moment for the main portfolio. Glad they've sold down the hydrogen stocks. Some real froth there. But full marks for seeing the potential
Dividend Declaration - HTTPS://www.investegate.co.uk/law-debenture-corp--lwdb-/rns/dividend-declaration/202105261629269410Z/ First Interim Dividend Announcement - Builds on 42 year track record of maintaining or increasing dividends · Declaring a first interim dividend of 6.875 pence per ordinary share payable in July 2021, representing an increase of 5.8% over the prior year's first interim dividend. · It is the Board's intention for each of the first three interim dividends for 2021 to be equivalent to a quarter of Law Debenture's total 2020 dividend of 27.5 pence per ordinary share. · The Board's current intention is for the total 2021 dividend to be an increase on the total 2020 dividend of 27.5 pence per ordinary share. As the vaccine rollout continues at pace and economies begin to recover following the easing of restrictions, there is a definite feeling of optimism about the UK dividend outlook. The Board is, however, conscious that the pandemic has had a residual effect on dividends across the market and that they are unlikely to return to the level of 2019 for several years. It is at times like these when the benefits of Law Debenture's unique structure come to the fore. The consistent and diversified income provided by Law Debenture's Independent Professional Services businesses (IPS) gives us a genuine competitive advantage over other equity income trusts. The combination of IPS' steady income and our strong reserves allows Law Debenture to continue executing its 42 year track record of maintaining or increasing its dividend payments. As a result of this, we have declared a first interim dividend of 6.875 pence per ordinary share payable in July 2021; this represents an increase of 5.8% over the prior year's first interim dividend. At the Corporation's 2022 annual general meeting shareholders will be asked to vote on a final dividend to be paid in April 2022. It is the Board's current intention to recommend the final 2021 dividend payment such that the total dividend will be an increase on the 2020 dividend of 27.5 pence per ordinary share.
In case you missed our webinar with Law Debenture Investment Trust the recording and stockopedia report can be found here: hTTps://www.sharesoc.org/seminar/sharesoc-webinar-with-law-debenture-investment-trust-lwdb-29-april-2021/ To access the recording, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hxxps://www.sharesoc.org/membership/ Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the recording (and recordings/reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hxxps://www.sharesoc.org/contact-us/
Last chance to register for our webinar with Law Debenture Investment Trust (LWDB)tomorrow! Denis Jackson (CEO – Law Debenture) and James Henderson (Joint Portfolio – Manager) will both present. hTTps://www.sharesoc.org/events/sharesoc-webinar-with-law-debenture-investment-trust-lwdb-29-april-2021/
Law Debenture Investment Trust are presenting at our webinar on the 29th April which may be of interest to shareholders or potential investors. Denis Jackson (CEO – Law Debenture) and James Henderson (Joint Portfolio – Manager)present! More info here: hTTps://www.sharesoc.org/events/sharesoc-webinar-with-law-debenture-investment-trust-lwdb-29-april-2021/
Agreed, shammy, the operating business is low tech, necessary and stable and provides cover for 1/3rd of the income. If they can build on that with some half decent stock picking in a favourable UK value rallying market they should do well over the next year or two. Not going to make you rich but a good reliable savings product
This looks interesting. Fantastic divi too!
Any particular metric or reference that makes you say that?
Sounded a bit expensive to me, but probably a fairly good fit.
£20m cash for £2.2m EBITA annually sounds a great deal to me. As always I ask myself why Eversheds would sell. But clearly there has been a shift to focus more on the in house business, firstly organically and now through acquisition. Then they're actually using it as a USP to sell the trust. Interesting and quite clever in my view
hTtps://citywire.co.uk/investment-trust-insider/news/great-day-for-humanity-great-day-for-value-investment-trusts/a1423344 A bit old as I got this through a "what happened last week" email notification. LWDB and the likes have recovered a bit.
NAV with borrowings at par and including the fair value of IPS business(1) on 10 November 2020 was 623.29 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 584.86 pence per share (cum income).
Law Debenture uses Covid market falls to position for future dividend growth 7 September 2020 investmentweek.co.uk By David Brenchley Twitter: @davidbrenchley New additions to Law Debenture’s equity portfolio, bought during the Covid-19 market turmoil, should “increase the yield of the portfolio in two years’ time”, according to manager James Henderson. Henderson told Investment Week the trust is using gearing in order to “position for a recovery in earnings and dividends”. The manager is able to look through dividend cuts due to Law Debenture’s unique structure, which combines this equity investment portfolio with a professional services business, which historically accounts for 35% of the trust’s dividend distribution, he added. “We have been buying things at low levels, a lot of which do not yield at the moment but will come onto the dividend list in the next two or three years,” Henderson explained. “We are able to look through things and not be overly worried about the dividend payments from companies today because I think the best value opportunities are often the ones that are off the dividend list and [other UK equity income fund managers] have to kick out because they are not paying a dividend. “The overall effect of this will be to increase the yield of the portfolio in two years’ time, [although] we are doing this because these are cheap companies trading below book [value] that offer real opportunity.” Henderson bought shares in Marks & Spencer for the first time since he began running the trust. He said the retailer was “really using this slowdown to focus on their business and ask themselves some very hard questions about their role”. The firm said it would not distribute cash to shareholders for the year to 31 March 2021, but most sell-side analysts expect it to reinstate its dividend within two or three years. Elsewhere, Henderson had added some of the big life companies such as Aviva, which he described as “very sound value at the moment”. Law Debenture’s structure, unique in the UK equity income sector, has allowed Henderson to stray from chasing yield, with the trust’s IPS business remaining robust and generating healthy cash to return to investors. Reserves of £62.5m help, too. As a result, Henderson is able to hold some higher growth names, such as renewable energy companies Ceres Power and ITM, and have international exposure. Ceres and ITM were two of the biggest contributors to 2020’s performance, while Microsoft, which has now exited the portfolio, has contributed over a longer time period. Law Debenture has materially outperformed Henderson and Laura Foll’s other offering in the UK Equity Income sector, Lowland, in 2020, losing 13.2% compared to Lowland’s 32.1%. With a swathe of companies and, in turn, investment trusts and funds cutting dividends, chairman Denis Jackson said it was “at this point in the cycle… we think we are supposed to sing as an investment proposition”. “We have always said our professional services businesses had strong elements of countercyclicality to them and we are demonstrating that,” he reasoned. “And we have always said, because we have got that, that allows James to differentiate himself.” IPS is made up of three separate components: a pensions business, which provides services including on governance to pension trustees; a corporate trust business, which acts as a bond trustee and provides services both pre- and post-issue; and a corporate services business, which provides company secretarial and whistleblowing services to firms. The business as a whole saw revenue growth of 6.5% and earnings per share rise 6.6% in its half-year ended 30 June 2020. While the corporate services business saw a 4% decline in growth in H1, the pensions and corporate trust divisions grew by 14.5% and 11.6% respectively. Jackson sees tailwinds for all three businesses, with the pensions side having seen 50% compound growth in the past three years. Pensions are likely to undergo a professionalisation in governance similar to that seen in corporations over the past few decades, Jackson explained. Further, the corporate trust division has seen an uptick in business, with many companies tapping debt markets for new or follow-on issuance due to the pandemic. Finally, he continued, the whistleblowing services are likely to be in-demand as corporates become more concerned about employees’ well-being and look to provide channels to raise issues. Jackson said: “18 months ago, the guidance we gave is we would look to grow this business by between 5% and mid-single digits. To have done that in the face of such extraordinary economic conditions, we are really pleased with. And we think we could kick on significantly from there.” Law Debenture told investors its dividend, which has moved to a quarterly payout, would likely be held at 26p per share, a yield of around 5%, for the full-year. The move means it has not had
They have just uploaded two factsheets in a row: June and July. Always funny to see how the mood changes from one month to the next: June: Ceres Power was the best investment ever. July: Ceres Power was the worst detractor ever. One can pick that up when reading the two updates in one go. If the June one had been published earlier, I doubt I would have noticed. :)
Good half-year report. A technical decision, but at long last they get in line with everybody else: "In light of continued market volatility, we will be providing a daily NAV to the market from the start of August. This is another step in our journey of increasing transparency for our shareholders." I mean, they hold highly liquid/traded stuf, so why the weekly only update so far? It is not as if it were Private Equity.
Any other ITs (obviously other than Lowland) with relatively higher yield and similar growth rate?
Bought a slice of it yesterday, as a "UK Income" type (80% of it is UK). I used to pile in BHI, but this one is bigger, with a smaller spread and with 35% of the dividend coming from their own business, it seems more reassuring in the long term.
Dividend Declaration - HTTPS://uk.advfn.com/stock-market/london/law-debenture-LWDB/share-news/Law-Debenture-Corp-PLC-Dividend-Declaration/82614097 First Interim Dividend Announcement - Law Debenture Dividend Yield Hits 4.9% -- Moving to quarterly dividends, creating greater regularity and predictability around dividend payments -- Declaring a first interim dividend of 6.5 pence per ordinary share payable in July 2020 -- Further interim dividends of 6.5 pence per ordinary share expected in October 2020 and in January 2021 -- Board's current intention for the full year 2020 dividend to be at least equal to 2019 dividend of 26.0 pence per share The Corporation declared, and our shareholders overwhelmingly approved, a 50% increase in our final dividend payment for 2019 earlier this year. This step change in dividend brought our dividend yield from 3.5% for the year ended 31 December 2018 to 4.0% for the year ended 31 December 2019(1) . The 2019 full year dividend per share was 26.0p (up 37.6%). With significant turmoil in global markets as a result of the Covid-19 pandemic, a large number of quoted companies have cut their dividends in order to protect the long term future of their businesses. This is happening at a time when the recipients of those dividends may themselves be increasingly reliant on that income. The great advantage of the investment trust structure is the ability to retain a portion of income received each year in order to smooth dividends in times of market stress. With that backdrop, the unique advantage of the Law Debenture structure has never been more evident. We approach 2020 with a professional services business that has funded 35% of dividends for the investment trust over the preceding 10 years and group retained earnings of GBP62.5m(2) . The combination of this diversification of income and the strength of our reserves provides us with a genuine competitive advantage over other equity income trusts when forming our dividend policy. We also announced we were moving to a structure of quarterly dividends. We felt paying quarterly dividends would help to provide our shareholders with greater regularity of dividend income, which we hoped would prove attractive to new and existing shareholders. This has proved timely, as yield becomes increasingly scarce and shareholders' cash flows constricted. With that back drop, the Corporation is delighted to declare a first interim dividend of 6.5 pence per ordinary share in respect of the year ending 31 December 2020. This dividend will be paid on 28 July 2020 to shareholders registered at the close of business on 26 June 2020. The Corporation's shares will go ex-dividend on 25 June 2020. Based on the current share price, that implies a dividend yield for the Law Debenture share of 4.9%(3) We intend to pay two further interim dividends of 6.5 pence per ordinary share in October 2020 and January 2021. Shareholders will be asked to vote on a final dividend to be paid in April 2021 at the Corporations 2021 AGM. It is the Board's current intention to recommend the final dividend payment be at least 6.5 pence per share.
Number 1! HTtps://www.investmentweek.co.uk/news/4013281/uk-equity-income-investment-trusts-best-dividend-cover?
The Law Debenture Corporation p.l.c. Net Asset Value as at 20 March 2020 The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business(1) on 20 March 2020 was 486.05 pence per share (cum income), which excludes the proposed 2019 final dividend of 19.40p as the shares went ex-dividend on 12 March. With the Corporation's long term debt stated at fair value, the NAV was 466.15 pence per share (cum income). The mid-market price at the close of business on 20 March 2020 was 431.00 pence per share. The final dividend will be paid, subject to shareholder approval, on 16 April 2020 to holders on the register at the record date of 13 March 2020. Net Asset Value Excluding Income Including Income (pence) (pence) NAV with debt at par 483.08 486.05 ---------------- ---------------- NAV with debt at fair value 463.18 466.15 ---------------- ----------------
Chat Pages: 5  4  3  2  1
ADVFN Advertorial
Your Recent History
Law Debent..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211020 07:56:47