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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Merchants Trust Plc | MRCH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.00 | -0.55% | 540.00 | 16:29:58 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 545.00 | 540.00 | 545.00 | 540.00 | 543.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 27/09/2024 | Interim | GBP | 0.073 | 10/10/2024 | 11/10/2024 | 15/11/2024 |
| 02/07/2024 | Interim | GBP | 0.072 | 11/07/2024 | 12/07/2024 | 22/08/2024 |
| 04/04/2024 | Final | GBP | 0.071 | 18/04/2024 | 19/04/2024 | 22/05/2024 |
| 25/01/2024 | Interim | GBP | 0.071 | 01/02/2024 | 02/02/2024 | 14/03/2024 |
| 26/09/2023 | Interim | GBP | 0.071 | 05/10/2023 | 06/10/2023 | 10/11/2023 |
| 29/06/2023 | Interim | GBP | 0.071 | 06/07/2023 | 07/07/2023 | 24/08/2023 |
| 05/04/2023 | Final | GBP | 0.07 | 20/04/2023 | 21/04/2023 | 26/05/2023 |
| 20/01/2023 | Interim | GBP | 0.069 | 02/02/2023 | 03/02/2023 | 15/03/2023 |
| 30/09/2022 | Interim | GBP | 0.0685 | 06/10/2022 | 07/10/2022 | 10/11/2022 |
| 07/07/2022 | Interim | GBP | 0.0685 | 14/07/2022 | 15/07/2022 | 24/08/2022 |
| 07/04/2022 | Final | GBP | 0.0685 | 14/04/2022 | 19/04/2022 | 24/05/2022 |
| 20/01/2022 | Interim | GBP | 0.0685 | 03/02/2022 | 04/02/2022 | 15/03/2022 |
| 27/09/2021 | Interim | GBP | 0.068 | 07/10/2021 | 08/10/2021 | 11/11/2021 |
| 02/07/2021 | Interim | GBP | 0.068 | 15/07/2021 | 16/07/2021 | 20/08/2021 |
| 14/04/2021 | Final | GBP | 0.068 | 22/04/2021 | 23/04/2021 | 18/05/2021 |
| 26/01/2021 | Interim | GBP | 0.068 | 04/02/2021 | 05/02/2021 | 16/03/2021 |
| 30/09/2020 | Interim | GBP | 0.068 | 08/10/2020 | 09/10/2020 | 12/11/2020 |
| 24/06/2020 | Interim | GBP | 0.068 | 09/07/2020 | 10/07/2020 | 19/08/2020 |
| 16/04/2020 | Interim | GBP | 0.068 | 23/04/2020 | 24/04/2020 | 29/05/2020 |
| 21/01/2020 | Interim | GBP | 0.068 | 30/01/2020 | 31/01/2020 | 11/03/2020 |
| Top Posts |
|---|
Posted at 13/12/2024 07:59 by speedsgh Long term fixed rate borrowing - The Merchants Trust PLC (the Company) has today agreed an issue of two £25 million fixed rate 15 year secured private placement notes at a coupon of 5.91% (the Notes), raising total proceeds of £50 million. The funding date will be 21 January 2025. Interest will be payable semi-annually to one institutional investor on 21 July and 21 January (first payment on 21 July 2025) and quarterly interest will be payable to the other institutional investor on 21 April, 21 July, 21 October and 21 January (first payment on 21 April 2025). The Notes shall be direct secured obligations of the Company and rank pari passu with all other secured indebtedness of the Company. The purpose of the Notes is to take advantage of the Company's ability to use gearing which is expected to enhance long-term investment performance, and to provide fixed rate long or medium dated financing at a pricing level the Company considers attractive. The proceeds of the Notes will be used to repay borrowings of £42m (taken out in 2019) which mature end of January 2025 and for other investment and general corporate purposes. Colin Clark, Chairman said "The board believes borrowing is beneficial for shareholders as it can enhance longer term returns, provided the investment portfolio total return exceeds the cost of debt, albeit with the risk of higher volatility in capital returns. The new borrowing will increase the weighted average duration of drawn debt from 10.6 years to 16.4 years with the overall average cost of debt remaining at 5.1%." |
Posted at 22/10/2024 17:36 by tim 3 Yes CTY is an absolute stalwart dividend payer increasing its payment since 1966!Has lower gearing than MRCH though so moves both up and down are less exaggerated.A classic boring but consistent investment trust.As with many trusts like this if you can pick them up when markets are in turmoil such as Covid you can be set up for years to come otherwise don't expect to much capital growth.IMO dyor . |
Posted at 21/10/2024 12:59 by janeann Been a very long term holder of MRCH. Just wondering if anyone has any recommendations for othehr trusts that have such a good track record of both income and growth. Thanks in advance |
Posted at 01/8/2024 23:58 by pj84 Certainly, the UK stock market’s growth rate has been extremely poor in recent years. But with a global tilt, dirt-cheap valuations and an upbeat economic outlook, Questor believes it is only a matter of time before it begins to deliver much-improved returns. With Merchants having an excellent track record of outperformance, a sound strategy and generous gearing, it is well placed to capitalise over the long term.Questor says: buy Ticker: MRCH |
Posted at 26/7/2024 15:19 by mister md SS - is £6 pounds by end of *July* 2024 good enough ?!Superiorshares 16 Oct '23 - 01:08 - 2281 of 2335 Will the MRCH share price soon begin with a 4 ? ...I think so I repeat £3 pound ush by the end of 2024 -------------------- Mister MD 19 Oct '23 - 07:24 - 2282 of 2335 Edit I'll go for £6 pounds by end of 2024 Fwiw have added to holding in the 490s. |
Posted at 07/6/2024 07:20 by investingdad 'Time in the market, not timing the market.' That's the only tip you need, focus on that rather than your pretend shorts. I think we are all still awaiting your rant style explanation of why dividends will reduce too. I can see there being a little US instability before the election - there always is and we've not seen a sell off yet. But then it should recover and pick up momentum once the outcome is clear or looking clear. Globally there are a lot of elections this year to watch out for. There will be less instability here as it is more or less decided and business are starting to side with Labour. So sell off could be more ripples than shockwaves. I would imagine the range you'd expect would be 480-500 for 2024. 2025 is harder to call. And as amateurs we don't really have the full data sets to know. Even the pros don't know, they were expecting it to happen before this. It is a bit of a fools game betting the precise share price when there are so many uncertainties, but that doesn't stop SS of course. In my opinion: The biggest concern will be inflation, which I think will rise again in the future, and share prices will directly correlate. What we don't know yet is when rates will be cut. I feel US are going to hold for longer than here, but of course reductions can come too late and be a reaction to the horse that has already bolted. However, SS, your numbers to get to 300p is nearly a 50% drop. COVID panic saw about 40% drop. The GFC saw 57% or so, so you are calling something closer to the GFC. It's a big call. Brexit gave a 22% decline for MRCH, similar decline would see share prices at about 450p from 580p. But it doesn't really matter. 300p, 400p, 450p, 480p, 500p. Are all great to good prices when you have time. |
Posted at 22/5/2024 11:57 by mister md Superiorshares 16 Oct '23 - 01:08 - 2281 of 2335Will the MRCH share price soon begin with a 4 ? ...I think so I repeat £3 pound ush by the end of 2024 ------ Hmmm, so that looks like the 2nd big MRCH call you've got completely wrong. I have a sneaky suspicion your revised £3 target by end of 2025 is complete b0llox too. |
Posted at 04/4/2024 06:58 by speedsgh Full year dividend increased to 28.4p (42 consecutive years of increases); fully covered by earnings with board focus on rebuilding revenue reserves used to support the dividend during Covid.Final dividend of 7.1p payable on 22 May... Final Results - Income In terms of the income generated by the underlying portfolio, it was a strong year with revenue earnings per ordinary share rising 6.3% to a record 30.5p (2023: 28.7p) as dividend income received by the trust has fully recovered from the impact of the pandemic. This meant the dividend declared for the year was fully covered by earnings, as well as allowing the board to add 1.8p per ordinary share to revenue reserves. I have written before about the importance of investment trusts being able to build revenue reserves in order to provide some protection against difficult times. This was amply demonstrated during COVID years when our revenue reserves built in good years enabled the board to maintain dividends to our shareholders even though dividend receipts from the Merchants portfolio of investments were weak. Now that dividend receipts from the portfolio have recovered the board thinks it important that we should build up reserves once again, as illustrated by the chart on page 6 of the Annual Report. At the end of the financial year, the revenue reserve stands at 18.1p per ordinary share. Dividend The board is pleased to propose a final dividend of 7.1p for shareholder approval at Merchants' upcoming AGM on 16 May 2024. Subject to that approval, that will mean a full year dividend of 28.4p (2023: 27.6p), a rise of 2.9%. The annualised growth rate of the dividend paid by the trust over 42 years stands at 6.4%, remaining well above the rate of inflation over that period which stands at 3.8% annually as measured by the Consumer Prices Index (CPI) despite the particularly high inflation numbers evident over the past two years. The company continues to pay a high dividend, representing a yield of some 5.2% at the period end. This remains well above the sector average (4.5%), placing it in the top-ten yielders in the sector. With 42 years of unbroken annual dividend rises, Merchants also retains its place on the Association of Investment Companies' (AIC) Dividend Hero list - those companies having managed to consistently raise their dividend for twenty years or more. |
Posted at 26/9/2023 15:46 by speedsgh EarningsAs noted above, we have continued to see an improvement in corporate earnings following the lows of the pandemic. Earnings per share (EPS) for the six months under review reached 17.4p (2022: 16.0p) which is now also comfortably above the pre-pandemic level of 16.1p for the equivalent period in 2019 (2020 financial year). Our investment manager necessarily remains somewhat cautious however on near-term earnings, given ongoing economic uncertainties and rising costs for businesses. That said, the impact of the pandemic upon UK company dividend distributions was so profound, with some cuts and rebasing proving more permanent, it is very pleasing to be back well above pre-pandemic levels. Dividends There are two pleasing effects from the positive earnings noted above. Firstly, it has given the board confidence to propose an increased dividend and, secondly, it allows us to continue rebuilding revenue reserves that were partially utilised in order to continue our strategy of paying a high and rising dividend to shareholders through the pandemic. Not all trusts are able to provide such income support and smoothing during tough times, which is why Merchants is one of only 20 companies to be awarded the AIC's coveted Dividend Hero status from a universe of well over 400 listed companies. The board has declared a second quarter dividend for the current financial year of 7.1p per ordinary share, payable on 10 November 2023 to shareholders on the register at close of business on 6 October 2023. A Dividend Reinvestment Plan ('DRIP') is available for this dividend for which the relevant Election Date is 20 October 2023 and the ex-dividend date is 5 October 2023. We are pleased to advise that for CREST-registered shareholders, dividend payments are enabled in CREST. This means that for the first half of the 2024 financial year, the aggregated dividend will be 14.2p compared with 13.7p for the same period last year, a 3.6% year-on-year rise. |
Posted at 21/8/2022 22:50 by goldpiguk Hi Superiorshares,I really do not agree with your views about the dividend here. I am confident MRCH dividends will continue to grow, although not keeping pace with inflation over the next year or so. Many investors focus on the dividend payout and often complain when companies choose to return money to shareholders via share buybacks. Professional investors point out that companies like to do share buybacks when they believe their company shares are seriously undervalued by the market. Not only does MRCH pay out a high sustainable dividend, but many of the investments it holds are currently engaged in share buybacks. That augers well for dividend growth and capital appreciation. Just for fun, I have looked at the ten largest holdings as of 4th August 2022. By size of holding: 2.) BAT - currently buying back £2 billion, to be completed by 31/12/22. 3.) Imperial Brands - Announced that from 2023 will have more than £1 billion of post dividend free cash flow a year available for share buybacks. 4.) Shell - $6 billion share buyback in the current quarter. 5.) I G Group - $150 million share buyback, $75 million before January 21st, 2023. 9.) BP - $3.5 billion buyback in the current quarter. 10.) BAE systems - In July announced a £1.5 billion buyback over the next three years. Top Ten companies not mentioned above. 1.) GSK - Flagged well in advance the dividend would be cut after split into two companies. Currently weak due to worries over zantac litigation. 6.) Homeserve - Has now accepted £4.08 billion bid. Court approval is expected in Q.4. 7.) Rio Tinto - Although dividend has been slashed it still maintains a high payout. The cut is not a problem for MRCH. (It poses far greater problems for IT's like HFEL. See HFEL board.) 8.) Legal & General - A great company, high dividend and growth with strong dividend cover. With six of the top ten companies planning or engaged in share buybacks, one company in the process of being taken over, the MRCH portfolio looks well placed to reward long-term holders. Goldpig |
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