Perpetual Income And Gro... Share Discussion Threads

[aurelius5] 31/7/2020 10:04

This is a really poor deal for long term investors. Since July 31st 1998 PLI's share price has grown by 60% and MUT's by 54%. More pertinently for the income investor, PLI has increased its dividend by 413% and MUT by a much more modest 132% (1998-2019). Like MRCH, MUT has "dividend hero" status but its annual rises are often meagre and below inflation. I shan't be rolling over into MUT, maybe LWDB, JCH or NAIT.

[glavey] 31/7/2020 06:42

It was a reasonable buy in past times. Times change.

[mbu69] 30/7/2020 17:15

MUT may not pay as much out but have managed to increase every year for 46 years ! Also look at the 10 year nav charts of the two trusts. I guess it depends what your after capital gain or income. I'm not particularly bugging up MUT more wishing I'd not bought PLI. For fixed high income I'd pick ILH For a mix of capital and income JCH and for capital and tiny income boring old FCIT and BNKR I can't buy SMT even though it's record is fab i feel i would be this kiss of death.

[poikka] 30/7/2020 11:11

That 13.6p will be wiped out in 3 years by the difference in yields, assuming there would have been similar dividend changes, and MUT's divi record is none too hot, although it has perked up a bit recently.

The only real difference between them is that MUT's NAV record is better than that of PLI's over recent years.

[mbu69] 29/7/2020 10:24

Seems like good news this trust has been dire .... and a small parting gift.

"Partly in recognition
of the reduction in absolute dividends that a PLI shareholder would be expected
to receive, the Board of PLI intends to pay a pre-liquidation interim dividend
to its shareholders to reflect a distribution of its revenue reserve in full,
such amount is anticipated to be approximately 13.6 pence per share"

[poikka] 29/7/2020 08:22

MUT Rev. Res = £23m Divi = £22m (I think). They've got some good divi payers.

[poikka] 29/7/2020 08:21

Oh hello, we're going to be tucked in with MUT. Market seems to approve.

[orinocor] 28/5/2020 12:24

Perpetual Income and Growth Investment Trust plc

HEADLINE: Fourth Interim Dividend

The Directors are pleased to declare a fourth interim dividend for the year
ended 31 March 2020 of 4.8p per Ordinary Share. The dividend is payable on 30
June 2020 to Ordinary Shareholders on the register on 5 June 2020. The shares
will be marked ex-dividend on 4 June 2020.

This gives a total dividend for the financial year of 15.0p per share,
representing an increase of 3.4% on the previous year. This extends again the
Company's record of year-on-year ordinary dividend increases since 1999 and its
continued status as an AIC "Dividend Hero".

Forecasting dividend receipts for the current financial year is challenging as
the underlying investee companies adapt to the consequences on their businesses
following Covid-19. In addition, once appointed, the new investment manager is
likely to make a number of portfolio changes. Therefore the Board is not in a
position to set a target for dividends to be paid by the Company in the next
financial year. The Board is mindful, however, that the Company has significant
accumulated reserves and would be prepared to pay dividends from those reserves
if it felt it appropriate to do so.

for and on behalf of
Invesco Asset Management Limited
Company Secretary

26 May 2020

[orinocor] 28/5/2020 12:23

I think this should be higher with NAV published at 258.7p
It will be higher tomorrow looking at the portfolio.
With the shares 218.5p to buy the discount is 15.5% which is high.
The dividend was increase yesterday to 4.8p for the March quarter

[poikka] 15/4/2020 14:02

Invesco need dumping now, they've failed continuously to keep to their brief. Why wait for 6 months to continue to lose money against benchmarks? They should be sued.

And the Chairman and Board here have to go, too - except (maybe) for Georgina Field.

[poikka] 06/4/2020 09:12

Yes, wsk, who will be the new managers?

The next question that should be asked is, why should the BoD not also be in the firing line?

Other than Georgina Field, who's been there just over a year, they should all be held responsible, especially the Chairman - he will have to resign, and preferably immediately.

[wskill] 06/4/2020 08:20

So with a decent discount already here we may do well with a new manager depends who they have in mind .

[kiwi2007] 26/3/2020 18:06

HugePants..

Premium/Discount-25.19%
Gearing +26.52%

That's in todays FT.

Seeems a lot (but thereagain I'm not sure what actually counts as gearing? Do shares held in treasury count?) Amyone?

[wskill] 26/3/2020 16:09

Seems oversold to me

[hugepants] 12/3/2020 09:01

I wonder what the gearing is here. It was 18% but that's before the meltdown. Seems a bit on the high side.

[poikka] 11/12/2019 08:46

So they're sticking with MB as performance has improved over the past 3 months and could well benefit from the election result.

That does NOT detract from the fact that long term performance has been rubbish. It's great that MB keeps a core of worthies, but he should be, and should have been, far more active with adapting to the short and medium term with the rest of the portfolio.

Maybe he was, but there were some glaring errors.

In case anyone missed the news, EDIN's ditched Invesco and MB and appointed Majedie.

[poikka] 04/12/2019 15:11

This is probably worth buying on the basis that it's either going to come good, or a new manager will be appointed, which would give it a lift.

In the meantime, holding it won't hurt.

[poikka] 02/12/2019 15:48

"These are excellent numbers and one in the eye for believers in the passive approach to equity investing. These types usually argue that these periods aren't long enough to prove anything. We are delighted to have beaten our Benchmark over 1,3,5,10 and 20 years."

[poikka] 23/11/2019 14:28

So, basically, Barnett's on a verbal warning.

[poikka] 15/11/2019 15:23

I mean to have been out of miners when they were slashing costs was unforgiveable. Ok, they've slipped back since the US/China tariff war, but he could have dumped some/all if he so wished, miners are not exactly illiquid! Just as well I made up for his error, lol.

Anyway, should get the Interims next week, I think.

[poikka] 15/11/2019 14:37

Last chance saloon for the manager, I'd say, but I've said that before.

I'm going to add on the assumption that it'll either come good or he'll be replaced.

[edwardt] 11/10/2019 21:00

This thing best bounce properly given the excuses of Brexit lag!

[edwardt] 05/9/2019 09:50

feel your pain. this is a pain trade for sure. alas i use this as my chosen poison too.