City of London (CTY) - First interim dividend

[Itsallaguess]

‎
The Board of The City of London Investment Trust announces that -

A first interim dividend of 5.05p per ordinary share of 25p will be paid on 30 November 2023 to holders registered at the close of business on 27 October 2023.

The Company's shares will go ex-dividend on 26 October 2023.

https://www.londonstockexchange.com/news-article/CTY/dividend-declaration/16115609


Usually, the first two CTY quarterly dividends are static, with Q3 and Q4 slightly increased on the previous two quarters, but even if we conservatively estimate this 5.05p Q1 dividend remaining static throughout all four quarters, then a potential full-year dividend of 20.2p set against a current CTY share price of around 392p would give a forward CTY yield of around 5.15%, with a chance of an improvement on that if the Q3 and Q4 dividends follow previous yearly trends of slight increases.

Previous quarterly CTY dividend details here, showing the above trends - https://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=cty

Snapshot here showing CTY's dividend history over the past 23 years -



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

Cheers,

Itsallaguess

[funduffer]

‎

Usually, the first two CTY quarterly dividends are static, with Q3 and Q4 slightly increased on the previous two quarters, but even if we conservatively estimate this 5.05p Q1 dividend remaining static throughout all four quarters, then a potential full-year dividend of 20.2p set against a current CTY share price of around 392p would give a forward CTY yield of around 5.15%, with a chance of an improvement on that if the Q3 and Q4 dividends follow previous yearly trends of slight increases.

Itsallaguess

I would hope that with the high inflation we have suffered over the last year, the Q3 and Q4 dividend increases will be more than just "slight"

FD

[BullDog]

Don't get too excited. Down 7.3% the last five years. Dreadful.



Source of chart, Hargreaves Lansdown.

[DavidM13]

Don't get too excited. Down 7.3% the last five years. Dreadful.



Source of chart, Hargreaves Lansdown.

What is that meant to show? CTY outperforms the FTSE All Share and its sector on a price and NAV total return performance over 5y. Does that chart strip out the affects of dividend pay out? Thats the only way I think it can be a negative player. Unless it is showing something other than return?

[moorfield]

Don't get too excited. Down 7.3% the last five years. Dreadful.



Source of chart, Hargreaves Lansdown.

Have a wild guess what the FTSE100 chart looks like over the same period...

[BullDog]

Don't get too excited. Down 7.3% the last five years. Dreadful.



Source of chart, Hargreaves Lansdown.

Have a wild guess what the FTSE100 chart looks like over the same period...

Given where the FTSE100 is today versus 1999, you don't need to be a genius to make a decent stab at that.

[scotia]

Over the past 5 years CTY has produced a total return (price plus dividends) of 22.8%, with a loss of 4% in its price.
Over the same period the FTSE All share Index has a total return of 22.6%, and the FTSE 100 Index has a total return of 26.4%
I don't hold CTY, and I don't normally seek out UK-biased high dividend ITs, however I do hold Merchant's Trust, which produces a similar dividend (around 5%) to CTY, but has managed a 5 year total return of 45.9%. I hope it continues
(numbers from Hargreaves Lansdown).