Uk Mortgages Dividends - UKML

Uk Mortgages Dividends - UKML

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Uk Mortgages Limited UKML London Ordinary Share GG00BXDZMK63 ORD 1P
  Price Change Price Change % Stock Price Low Price High Price Open Price Previous Close Last Trade
0.00 0.0% 63.50 0.00 0.00 0.00 63.50 13:00:57
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Industry Sector

Uk Mortgages UKML Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

rambutan2: A catalyst indeed: Share Buyback Programme The Securitisation was issued on terms which will release a significant amount of capital, allowing the Company to be able to commence buying back shares once the transaction settles at the end of August 2020 (the "Settlement Date"). The Company announces that with effect from the Settlement Date it expects to initiate a share buyback programme to purchase up to the maximum of 14.99% of the Company's issued shares, being the maximum number of shares currently authorised by Shareholders, if a discount of greater than 5% persists to the Company's then prevailing NAV per share. Dividend Policy In light of the portfolio performance observed as the UK lockdown begins to ease and the successful Securitisation, the Board announces that it intends to restore the Company's dividend to its target level of 4.5p annually per share, which represents a dividend yield of 7.0% based on the closing share price on 20 July 2020. The Board therefore currently intends to declare: * an additional interim dividend in respect of the Company's year ended 30 June 2020 of 1.5p per share; and * four quarterly dividends of 1.125p per share in respect of the Company's current financial year to 30 June 2021.
yieldsearch: Shareholder list, I have the following Premier Fund Management 10.22% Quilter Investors Ltd 5.63% Seneca IM 5.07% BMO AM 4.99% Morningstar IM 4.69% Fidelity 4.46% Brooks Macdonald AM 2.49% Seems that all of those are institutional/passive investors, similar to MAGIM or 24AM. Under rule 8.3 of the takeover code, I believe any shareholder above 1% will have to disclose its holding, so expect a number of regulatory notices going forward. Bid price: Thank you MAGIM for explaining to shareholder that you bid is at a premium to the vwap or the recent closing price (duhhh..), 67p is also 15.6% discount to the reported NAV disclosed in the factsheet dated 29th may (with apparently based Nav from 30.04?). I would expect the actual NAV to be higher as credit markets improved since April/may. eg they were able to launch oat hill 2. The actual realisation price is likely higher than the NAV, as the asset manager is most likely "massaging" the NAV overtime to reduce volatility. All the underlying rmbs deals cash flow (oat hill etc) can be easily priced with sophisticated models (eg INTEX calc for instance) and would expect MAGIM do have done so, and get their own estimate of realisation price. Why on earth the board is not posting an updated NAV today for the shareholders is just something i cannot understand. Finally, this notice is also cleansing any existing shareholders being already privy to the discussion. MAGIM most likely already approached some large investors during their multiple bids process. So it can also be viewed as a way to get the confidential information received by those investors to make it to the public. and allow them to trade. So all in all, good news to see the share price movement,and probably focus the attention of 24am becos they may loose some asset management fee paying a relatively poor job, however i am not sure the 67p is the best price that can be achieved. Lets hope that MAGIM created some interest from private equity bidders. Any other bids would comfort the board action but would kill M&G bid. And the put up or shut up timeframe is relatively short (17th Aug, barely a month, during covid summer..)
yieldsearch: Oat Hill 1 to be refinanced: "Once completed this transaction will allow the company to return to its strategy as previously stated in February including using excess capital to enable share buybacks whilst the Company’s share price continues to trade at a discount to the NAV"
rambutan2: One of my diversifiers: UKML Portfolio Update UKML's deals continue to perform very well. The latest factsheet details underlying asset performance, but as mentioned above market spreads have been tightening and all UKML's deals have performed well in the secondary market too. Oat Hill is getting closer to its call date and is trading at a small premium to par, but even given the short dated nature, its spread has tightened by over 20bps in the last few months. Malt Hill 2, our second Coventry securitisation, is now trading inside 3m L+70bps, and Barley Hill 1, our first securitisation from TML, is bid at around 3m L+75bps. Both these levels are tighter than where the deals originally priced, and are about 25bps tighter than where they were about 3 months ago, boding well for future securitisation plans later this year, when we expect the new TML pool to be ready for a second deal. Both our warehouses continue to grow well, with the TML portfolio over GBP180m and the Keystone pool over GBP170m of completions. Both have been consistently adding >GBP20m and >GBP15m of loans per month respectively since Q4 of last year and their pipelines continue to grow. Every month, these volumes are currently increasing our net income by an equivalent of around GBP600k per annum, helping to reduce the gap to outgoings and ultimately helping us to move closer to a covered dividend position. Details of further growth will be available in future monthly factsheets and we will update investors on any securitisation timing and details as soon as we are able to.
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