Mckay Securities Share Discussion Threads

[skyship] 25/11/2009 07:32

So - divi reduced from 4.7p to 2.7p - but can't see any estimate for the full year - presumably earnings dependent so calculation to be done. Asset position good however - better than anticipated:

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The external valuation of the Group's property portfolio at 30th September 2009 totalled GBP217.40 million. This represented a 2.1% reduction (GBP4.69 million) in book value for the half year period compared with a 7.6% (GBP24.82 million)reduction for the corresponding period last year.

Net asset value per share at 30th September was 177 pence, an increase of 2.3% from 173 pence at 31st March 2009. Adjusted net asset value per share, which disregards the fair value of interest rate hedging instruments showed a small reduction to 225 pence from 227 pence over the same period

The Board has declared a dividend of 2.7 pence per share (H1 2009 - 4.7 pence) payable on 14th January 2010 to shareholders on the register on 4th December 2009.
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[manrobert] 25/11/2009 07:22

the results seem pretty good and report sounds very positive going forward

[gary1966] 24/11/2009 22:34

Interim figures tomorrow.

[leoboy] 20/11/2009 13:24

Lord Gnome , AlanJI , SteMiS - thnks yr quick answers . I think i understand now ; will wait for Selftade to claim back for me the 'withholding tax' (currently 20%) on the divi . Cor blimey a bit of a palaver !

Rgds

Leoboy .

[stemis] 20/11/2009 13:04

As AlanJI says it because it is a REIT.

I hold shares in my Selftrade SIPP and emailed Selftrade. This is what they said

Thank you for your recent message.

We will claim the REIT back for you. There at present no way of automatically stopping this process from happening.

Should you wish to discuss this or any matter further, please do not hesitate to contact Customer Services on the number provided.

It was a month ago and I'm still waiting. Having said that I only received the cash from the takeover of Glencar yesterday and its 3 months since I accepted the offer!

[alanji] 20/11/2009 12:58

Leoboy - read post 156 on. Tax is deducted under REIT rules.

[leoboy] 20/11/2009 12:54

Hello Lord Gnome - Page 65 of the same report gives their Registered Office as

20 , Greyfriars Rd , Reading , Berks RG1 1NL ; Co REFS also Head & Reg Off .

So what is the correct explaination for the less 20% please anyone ?

Rgds

Leoboy .

[lord gnome] 20/11/2009 12:43

Leoboy - the divi is subject to a 20% withholding tax as the company is not UK registered. 9.5p gross = 7.6p net.

[leoboy] 20/11/2009 12:32

Anyone help here ? : i have 4000 shares in my ISA ; the recent cash divi was
declared by the Chairman on page 4 2009 Report as 9.5 pence per share . I was expecting £380.00

In my Selftade Shares ISA i am told the divi was paid at the rate of GBP 0.076
per share & the entitlement £304.00 ?

I have thrown this back @ Selftrade to be advised on 20-10-09
"We have asked our Operations team to investigate your question(s) and we will reply back to you with an answer as soon as possible."

Still waiting !

Leoboy

[alanji] 17/11/2009 15:40

It should be done automatically after the end of the tax year. Not sure on timing as this is the first year I have received dividends.

[crawford] 17/11/2009 09:37

AlanJI,
is the reclaim of tax done automatically by my broker or do I need to do that?

[zeppo] 16/11/2009 19:23

AlanJI

Thank you for that.

I may think about a self select investment ISA.

z

[alanji] 16/11/2009 18:22

zeppo - SIPPs and ISAs can also reclaim the tax.

[zeppo] 16/11/2009 17:32

Interims 25th November

Price may be boosted a little prior to that if British Land and Land Securities, reporting in the next two days, show commercial property prices on the rise.

Re: posting 152

'MCKS still represents one of the best value property plays with its 8.5% yield & 30% NAV discount.'

Private investors have to allow for 'withholding tax' (currently 20%) on the divi. It still leaves a chunky 6% ish which is very difficult to find elsewhere with a cash investment.

It seems that institutions etc can get the divi gross - to their advantage.

z

[manrobert] 16/11/2009 16:45

yeah noticed..shame the sale of 31 shares had more influence on share price.

[skyship] 16/11/2009 16:21

50k bought @ 165p - chunky!

[gill17] 16/11/2009 14:50

I've trusted your judgement before Skyship, as I remember you also had a lot of TAP shares. Long term I'm happy to leave my money in Commercial companies as the rewards will be excellent. The dividend is a big bonus as well.

[skyship] 16/11/2009 13:32

Welcome aboard guys - many of us here are agreed that MCKS still represents one of the best value property plays with its 8.5% yield & 30% NAV discount.

To be a trifle picky - there is such a thing as being too conservative! Selling out two largest investments near the bottom of the market may have added security; but may have limited our growth potential going forward...

Still, happy to hold and see beyond the 30th September valuation to be revealed on the 25th.

[gill17] 16/11/2009 11:54

I've bought a couple of thousand too. Fed up with bank shares, this will be less stress!

[manrobert] 16/11/2009 08:46

hope iam a lucky omen for you guys i just bt a couple of thousand this morning having sold quit a large holding couple of years ago at 480.on of the ex directors used to be a client of mine and have always been impressed by the conservative way the company has been run.good luck to all holders.

[skyship] 13/11/2009 17:41

Hi ALAN - Good to see MCKS made it to 160p bid today.

Herewith the various trade definitions. NT all to do with a protected trade as the MM works an above normal size order:

[alanji] 12/11/2009 08:43

Sky - the trade was marked 'NT' - do you know what that means? Anyway bid up to 152 now, so let us hope you are correct. Unusually plus quote was up before main quote - KBC Peel Hunt, who are currently bidding 151.75/195.25 on plus and 149.75/165.25 on main!

[skyship] 11/11/2009 17:02

Hmm - not often we see a 50k trade in MCKS. Even if a sale (reported as a sale @ 150p) it would infer a buyer in the wings as surely no MM would take such a line on board...

[skyship] 03/11/2009 12:00

Agreed - thnx for that Alan