Middlefield Canadian Inc... Share Discussion Threads

[escapetohome] 24/10/2019 19:58

Good news today. A company alta gas , that MCT invested in was taken over.

This is good news.

A core holding.

[neilyb675] 20/9/2019 08:08

99.20 - 103.00 (GBX) at 08:00:15
on Market (LSE)

[escapetohome] 04/7/2019 19:31

116p net asset value.

A nice way to buy american assets at a discount.

[neilyb675] 04/7/2019 18:29

Middlefield Canadian Income PCC is pleased to announce that the board of directors has declared a quarterly dividend of 1.275 pence per Share with respect to Middlefield Canadian Income – GBP PC (the “Fund”).
The dividend will be paid on Wednesday, 31 July 2019 to Shareholders of record on Friday, 12 July 2019. The ex-dividend date is Thursday, 11 July 2019.

[neilyb675] 25/12/2018 19:29

Market weakness.

This is a definite buy and hold.

[4spiel] 25/12/2018 18:37

What happened?

[contrarian joe] 08/8/2018 17:43

Meant to post this a few days ago.

Middlefield Canadian Income (MCT) also looks interesting on a 17% discount and -3.6 Z-score. It yields 5% and last month celebrated news that Enbridge (ENB.TO), the Canadian oil pipeline operator in which it has a 5% weighting, had received approval from the state of Minnesota for its proposed replacement of the Line 3 US-Canada piepeline. Fund manager Dean Orrico said once completed in the next two years the new pipeline would boost Enbridge's dividends to the fund.

[neilyb675] 19/7/2018 10:58

1.275 pence per Share with respect to Middlefield Canadian Income - GBP PC (the "Fund").

The dividend will be paid on Tuesday, 31 July 2018 to Shareholders of record on Friday, 13 July 2018. The ex-dividend date is Thursday, 12 July 2018.

[neilyb675] 03/7/2018 07:06

Commenting on this positive development, Dean Orrico, President, Middlefield International Limited said:

"We are delighted by the news that Enbridge has been granted this approval which represents a major positive development in the proposed Line 3 project. We believe that the proposed project will drive increased cash flow to support dividends payable by Enbridge after project completion over the next 18 to 24 months and note that the market has responded favourably to the developments with a 10% increase in the equity price of Enbridge since 27 June 2018. Enbridge is currently the largest portfolio holding of MCT and represents an ideal stock to support our investment strategy of providing investors with access to a diversified portfolio of primarily Canadian equities providing long term, reliable income. To date, our investment in Enbridge has seen a price appreciation of 11% with the potential for additional upside as the company continues to execute on its other strategic objectives. Enbridge also pays a dividend of approximately 6% per annum with management forecasting dividend increases of 10% per annum over the next three years. The performance of Enbridge validates our investment strategy and supports the positive view of the North American pipelines sector which also includes other MCT holdings such as Pembina Pipeline Corporation (TSX:PPL, NYSE:PBA)."

[neilyb675] 24/5/2018 21:23

still large discount....

Net Asset Value

As at the close of business on 23 May 2018 the estimated unaudited Net
Asset Value per share was 112.13 pence (including accrued income).

Investments in the Company's portfolio have been valued on a closing
price basis.

[neilyb675] 06/4/2018 17:20

As at the close of business on 05 April 2018 the estimated unaudited Net
Asset Value per share was 106.17 pence (including accrued income).

Investments in the Company's portfolio have been valued on a closing
price basis.

[neilyb675] 05/4/2018 12:25

Middlefield Canadian Income PCC is pleased to announce that the board of
directors has declared a quarterly dividend of 1.275 pence per Share
with respect to Middlefield Canadian Income - GBP PC (the "Fund").

The dividend will be paid on Monday, 30 April 2018 to Shareholders of
record on Friday, 13 April 2018. The ex-dividend date is Thursday, 12
April 2018.

[neilyb675] 30/3/2018 09:25

10%+ discount.

Time to add imvhpo

[neilyb675] 30/3/2018 09:24

As at the close of business on 28 March 2018 the estimated unaudited Net
Asset Value per share was 103.85 pence (including accrued income).

[petewy] 29/3/2018 14:51

I'm out the NAV drooped and share price hit 90p my stop. (In TRIG)

[petewy] 19/3/2018 17:10

Thanks Neil

[neilyb675] 19/3/2018 16:36

As at the close of business on 16 March 2018 the estimated unaudited Net
Asset Value per share was 106.59 pence (including accrued income).

[contrarian joe] 16/1/2018 19:43

Joined you guys this morning,looks a well run fund with a decent discount,hoping they reduce their gearing a bit with the sale of those assets.

[petewy] 14/1/2018 16:01

Thanks Tilton.

[tiltonboy] 11/1/2018 14:50

Good news. They will get an uplift of 20% on their holding. They need to invest the proceeds well though.

[petewy] 11/1/2018 14:18

Middlefield Canadian Income's investee company Pure Industrial Real Estate Trust (PIRET) has entered into an arrangement with an affiliate of Blackstone Property Partners under which Blackstone will acquire all of the outstanding trust units of PIRET.

The units are being bought for $8.10 in an all-cash transaction valued at $3.8 billion including debt.


Good or bad news?

[neilyb675] 06/7/2017 22:01

Middlefield Canadian Income PCC is pleased to announce that the board of directors has declared a quarterly dividend of 1.275 pence per Share with respect to Middlefield Canadian Income - GBP PC (the "Fund").
The dividend will be paid on Monday, 31 July 2017 to Shareholders of record on Friday, 14 July 2017.  The ex-dividend date is Thursday, 13 July 2017. 

[neilyb675] 28/6/2017 12:47

Added✔

[neilyb675] 26/4/2017 15:53

Middlefield Canadian Income (MCT) is listed on the Main Market of the London Stock Exchange. It aims to invest in a diversified portfolio of Canadian and selected US companies that are able to pay high sustainable or growing dividends and have the potential to generate long-term capital growth. On a sector basis, the trust currently has high exposure to the pipelines, power & utility and real estate sectors. MCT is benchmarked against the S&P/TSX Composite High Dividend Index, which it has outperformed over one, three and five years. MCT currently pays a regular quarterly dividend of 1.25p, although the board has recently proposed a modest increase to 1.275p; its current dividend yield is 4.7%.
 
MCT's 5.4% current share price discount to cum-income NAV compares to the averages of the last one, three, five and 10 years (range of 5.4% to 13.4%). There is scope for the discount to narrow further if investor demand for Canadian equities increases or the manager continues to deliver positive relative investment performance. Investors should note that as recently as early 2015, MCT's share price stood at a premium to NAV.  

[neilyb675] 21/4/2017 16:04

The Board has considered the level of income generated in the first quarter of 2017 and the Investment Manager's view as to the sustainability of such level of income over the remainder of the Fund's current financial year (assuming that the Canadian dollar and US dollar exchange rates do not demonstrate a significant weakening relative to sterling over the period). Furthermore, to remain eligible for investment trust status under section 1158 of the Corporation Tax Act 2010 with respect to its tax status, in any accounting period the Fund may retain no more than 15 per cent. of its income.
In light of such factors, the Board is proposing a small increase in the quarterly dividend payable, from 1.25p per share to 1.275p per share, equating to 5.1p per annum.  It is proposed that such increase will commence with the quarterly dividend payable in July 2017.