Middlefield Canadian Inc... Share Discussion Threads

[neilyb675] 06/7/2017 21:01

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 11:47

Added✔

[neilyb675] 26/4/2017 14:53

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 15:04

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.

[neilyb675] 13/4/2017 20:35

As at the close of business on 12 April 2017 the estimated unaudited Net
Asset Value per share was 119.29 pence (including accrued income).

[bscuit] 13/4/2017 14:03

Today Questor in Telegraph recommends for income and narrowing discount. MMs can read!

[hastings] 11/1/2017 17:10

Another nice lift at the close.

[badtime] 23/12/2016 12:55

Still trading at a wide discount

[badtime] 08/12/2016 16:51

Bid dropped from 103 at end of day

[badtime] 08/12/2016 16:22

NAV up share price up

[ntv] 04/12/2016 22:31

discount is growing as share price slips away
yield is around 5%

[neilyb675] 01/11/2016 08:08

Dividend in, just waiting for DRIP

[badtime] 12/10/2016 14:10

114.48p NAV

[badtime] 05/10/2016 14:12

Sky...mail sent :)

[skyship] 05/10/2016 13:35

BT - glad to see you're still out there!

Tried emailing you with some info, but bounced back. Perhaps you've changed your address. Email me if so and I'll resend...

[hastings] 04/10/2016 13:06

Very pleased with the run up on this having bought in at a decent level for income and continuing to look positive.

[neilyb675] 03/10/2016 16:06

As at the close of business on 30 September 2016 the estimated unaudited
Net Asset Value per share was 109.44 pence (including accrued income).

[rcturner2] 31/8/2016 10:18

Latest NAV is 107p.

So yielding over 5% with a discount of over 10%.

[digger61] 23/8/2016 18:59

Interesting Skyship. The TER at CGI is horrendous for what is a large tracker fund of the Canadian market. Not sure about the yield, I get 4 and a bit percent. 6% spread showing at HL. That discount has been quite high for a very long time.

It doesn't give me a warm fuzzy feeling....

[skyship] 23/8/2016 16:52

Still far prefer CGI - higher yield and a 30% NAV discount...

[digger61] 23/8/2016 11:01

Where else can you buy a fund with Microsoft etc in it at a significant discount....

[badtime] 22/8/2016 21:15

Toying with adding

[hastings] 16/8/2016 13:36

Still a very a big discount to NAV