The Lemon Fool

Hi,

Can anyone advise when MYI typically publish their annual report? The last available report is dated 31st December 2017, with December being the financial year end. I would have assumed the 2018 report would be available by mid March. If it is available, I can’t find it.

Thanks in advance,

Juan.

The results were announced on 8 March https://www.investegate.co.uk/murray-intnl-trust--myi-/rns/annual-financial-report/201903080700032410S/

Last year, the annual report was published on 22 March 2018 after the results issued on 9 March, so look to around 21 March for publication this year.

The link above should give you the info you need, if not quite presented as in a report. For example, the portfolio is listed at the end in the link, rather than early on in their annual reports.

Thanks Mike, I appreciate the reply.

I was hoping to find some indication as to the specific dividend schedule for the coming year. The only commentary is the policy remains as progressive. Hopefully the final report will give more specific guidance.

Thanks again,

Juan.

I doubt that you will get much more guidance than that in the announcement. Crystal balls are not I think in their armoury.

Dod

I think they usually announce the next dividend on the day of the AGM, which is on 25 April this year. And then they pay the same dividend for the next two quarters after that, followed by a slightly larger final payment.

The smaller interim payments are usually in Aug, Nov and Feb with the final in May.

The three interim dividends were 11.5p last year followed by a 17p final (declared but yet to be paid). So we should know in a little over a month what sort of increase, if any, is likely for the coming year.

Or they might decide to do something entirely different of course!

And for anyone who hasn't seen it, this reporting of the latest results along with the associated comments, may be of interest: https://citywire.co.uk/investment-trust ... -news-list

‘from a global perspective, the argument to invest has seldom been so uncompelling’.

A typical Stout comment!

And this from one of the comments below the article

Any fund manager relying on tobacco and Vodafone clearly isn't paying attention.

Not a HYPer type investor, this poster. Does he expect MYI to be a trader and duck and dive? Maybe Stout is buying more while the prices are trashed - that wouldn't be surprising.

Arb.

Update:

Even before the 4th and final dividend of 17p per share falls due for payment on 17th May, Murray International kicks off a new financial year by today releasing details of the trust’s first interim dividend at …

https://www.investegate.co.uk/murray-intnl-trust/rns/first-interim-dividend/201904251206411223X/

Shareholders are to receive 12p per share, as compared to the 11.5p of 12 months ago. Such an increase of the interim is a continuation of what began a couple of years ago. The Board deciding that the final dividend payout had become too top-heavy relative to each of the three interim dividends. Since when the trust has been using the revenue reserves to gradually increase the level of interim payouts at the expense of final declarations.

Coincidently, the other Murray IT, the UK income focused Murray Income (MUT) is in the process of carrying out an identical dividend rebalancing programme. Seems very much to be a joint-board initiative aimed at smoothing out income distributions to shareholders.

forrado wrote:Update:

Even before the 4th and final dividend of 17p per share falls due for payment on 17th May, Murray International kicks off a new financial year by today releasing details of the trust’s first interim dividend at …

https://www.investegate.co.uk/murray-intnl-trust/rns/first-interim-dividend/201904251206411223X/

Shareholders are to receive 12p per share, as compared to the 11.5p of 12 months ago. Such an increase of the interim is a continuation of what began a couple of years ago. The Board deciding that the final dividend payout had become too top-heavy relative to each of the three interim dividends. Since when the trust has been using the revenue reserves to gradually increase the level of interim payouts at the expense of final declarations.

Coincidently, the other Murray IT, the UK income focused Murray Income (MUT) is in the process of carrying out an identical dividend rebalancing programme. Seems very much to be a joint-board initiative aimed at smoothing out income distributions to shareholders.

Thanks Forrado for that update on the divis. I am a holder of MYI, though it does irk me that he holds so much tobacco, both BATS and Philip Morris.

Arboridge wrote:
Any fund manager relying on tobacco and Vodafone clearly isn't paying attention.

Whilst I appreciate they enhance the income side of the equation, I do wish he would shed his tobacco holdings. Besides the ethical aspects I view them as ex- growth and impeding the growth side of the portfolio.