Law Debenture (LWDB) - 1st Quarter Dividend

[Itsallaguess]

Law Deb declared their 1st quarter dividend yesterday, and at 7.625p it delivers a welcome 5.17% increase on last year's equivalent Q1 dividend of 7.25p.

When LWDB set the level of Q1 dividends, they are in fact declaring the first three interim quarterly dividends, as their usual calculation method uses the following approach -

It is the Board's intention for each of the first three interim dividends for 2023 to be equivalent to a quarter of Law Debenture's total 2022 dividend of 30.50 pence per ordinary share.

https://www.investegate.co.uk/announcement/7541643

The LWDB Q1 interim dividend of 7.625p will be paid on July 6th 2023, with an ex-dividend date of June 1st.

Cheers,

Itsallaguess

[Arborbridge]

Law Deb declared their 1st quarter dividend yesterday, and at 7.625p it delivers a welcome 5.17% increase on last year's equivalent Q1 dividend of 7.25p.

When LWDB set the level of Q1 dividends, they are in fact declaring the first three interim quarterly dividends, as their usual calculation method uses the following approach -

It is the Board's intention for each of the first three interim dividends for 2023 to be equivalent to a quarter of Law Debenture's total 2022 dividend of 30.50 pence per ordinary share.

https://www.investegate.co.uk/announcement/7541643

The LWDB Q1 interim dividend of 7.625p will be paid on July 6th 2023, with an ex-dividend date of June 1st.

Cheers,

Itsallaguess

That could amount to 3.9% ??? Oddly, price is down 1.8%

[Itsallaguess]

That could amount to [a yield of] 3.9% ???

If we take 3 quarterly payments of this recent 7.625p Q1 announcement, and add in last years final of 8.75p, then that would give a full-year equivalent of 31.625p, which on a current share price of 802.65p, might give an equivalent yield of around 3.94%, with the additional benefit of that final dividend hopefully seeing some level of additional rise in itself, given that the last three year finals have been 8p (2020), 8.375p (2021), and 8.75p (2022).

Oddly, price is down 1.8%

On a day like today, I'll take a 1.8% drop and be happy with it, I think...

FTSE 100 fallers -

https://investing.thisismoney.co.uk/market-data/risers-fallers?type=2&timeInterval=1&priceOption=0&index=UKX

Cheers,

Itsallaguess

[Itsallaguess]

‎
I did mean to add in another snippet from this LWDB Q1 dividend announcement -

The combination of IPS' steady income and our strong reserves allows Law Debenture to continue executing its 45-year track record of maintaining or increasing its dividend payments.

https://www.investegate.co.uk/announcement/7541643

An impressive record, which we can see in real terms on the chart and table linked below -



Source - https://www.dividenddata.co.uk/dividend-history.py?epic=LWDB

Cheers,

Itsallaguess

[Arborbridge]

You could buy cum-div today but pay HSDL a dealing fee of £9.50 - which I think just about breaks even for a £1000 purchase. Or you could wait until 6th June and pay zero commission but buy ex-Div, hoping that the price is still that much down - or more.

Interesting gamble.

Arb.