The Lemon Fool

gbjbaanb wrote:I'm just glad it hasn't changed to SCAT (do not google that)

ffacoffipawb64 wrote:

gbjbaanb wrote:I'm just glad it hasn't changed to SCAT (do not google that)

City of London Investment Trust could have had a worse EPIC

The Board of SAINTS announces that it is declaring a first interim dividend of 3.05p (up 1.6% on the corresponding dividend last year) per ordinary share in respect of the year to 31 December 2021, payable on 23 June 2021 to shareholders on the register at the close of business on 28 May 2021. The ex-dividend date is 27 May 2021. The Company operates a Dividend Reinvestment Plan and the final date for elections for reinvestment of this dividend is 2 June 2021.

¾ SAINTS has delivered a strong net asset value total return (borrowings at fair value) over the first six months of 2021, returning 11.3%. Over the same period, global equities* returned 11.4%, whilst the Global Equity Income sector return was 10.6%. Over the past five years the Company has significantly outperformed its sector, delivering 107.3% against the sector's 69.8%.†

¾ The property portfolio delivered a 12.9% return, with a significant contribution from the sale of its largest holding, a data centre in Milton Keynes, at a large premium to its book value.

¾ SAINTS' revenues per share over the period were 6.74p compared to 6.09p for the equivalent period last year. The resilience of the Company's revenues in another challenging period has been helped by the Manager's emphasis on dependability and growth, and the robust underlying dividend growth of the Company's holdings.

¾ The Company has declared a second interim dividend of 3.075p. Taken with the first interim dividend, the dividends over the period of 6.125p represent an increase of 2.1% over the amount paid for the equivalent period in 2020.

¾ To satisfy market demand the Company issued over £43m of shares over the period at a premium to Net Asset Value, and the Company has borrowed an additional £15m at 2.23%.

¾ The Board and the Managers are optimistic about SAINTS' long term prospects for resilient income growth.

On average, dividend increases announced by our holdings in the first half averaged around 6.5%. Over half the portfolio increased their dividends by more than 5%, and over 30% increased their dividends by 10% or more. In addition, companies such as T. Rowe Price, Rio Tinto, AVI and Admiral have announced special dividends. This is an encouraging statement of confidence about the future.

https://www.investegate.co.uk/scot.amer ... 00049833G/

The additional borrowings have been used to start building a small basket of listed infrastructure investments, alongside our bonds and property portfolios. The attraction of these investments is the inflation-linked income streams they offer, backed by very resilient cash flows, which have a low correlation with the income we receive from the equity portfolio. As ever, we are focusing on high quality operators with strong management teams.

¾ The property portfolio delivered a 12.9% return, with a significant contribution from the sale of its largest holding, a data centre in Milton Keynes, at a large premium to its book value.

richfool wrote:

¾ The property portfolio delivered a 12.9% return, with a significant contribution from the sale of its largest holding, a data centre in Milton Keynes, at a large premium to its book value.

I had had some reservations about the number and type of property holdings that the trust held, but judging by the above, they clearly know what they are doing, which is of course what I am paying them for.

I have been pondering whether the likes of MATE and perhaps now SAIN, give me sufficient exposure to infrastructure, without having to dabble with the likes of HICL or INPP.

I hold INPP, MATE and SAIN.

Third Interim Dividend for 2021

The Board of SAINTS announces that it is declaring a third interim dividend of 3.175p (an increase of 5.8% on the corresponding dividend last year) per ordinary share in respect of the year to 31 December 2021, payable on 17 December 2021 to shareholders on the register at the close of business on 19 November 2021. The ex-dividend date is 18 November 2021. The Company operates a Dividend Reinvestment Plan and the final date for elections for reinvestment of this dividend is 26 November 2021.

Results for the year to 31 December 2021


¾ Dividend - The full year dividend, including a recommended final dividend of 3.375p, is 12.675p per share. This is 5.6% higher than the 2020 dividend, extending the Company's record of dividend increases to forty eight consecutive years. The increase is above the rate of UK CPI inflation over the same period, which was 5.4%.

¾ Revenues - Income was £28.0m (2020 - £23.6m) and earnings per share were 12.79p (2020 - 12.00p).

¾ Total return* - Net Asset Value total return (capital and income with borrowings at fair value) for the year was 21.5%, ahead of the total return from global equities of 20.0%. The share price total return was 19.5%. Returns were assisted by the resilient operational performance of many of the companies in which SAINTS invests, and also by a strong return from the Company's property investments.

¾ Peer Group performance - SAINTS remains the best performing fund in its Global Equity Income peer group, in terms of NAV total return, over the past five years.

¾ Outlook - The Board remain of the view that a long-term approach based on investing globally for sustainable growth is the best route to achieving SAINTS' aim of growing the dividend ahead of inflation over time. It has great confidence in SAINTS' managers, and this confidence has been further strengthened by the experiences of the past year. In the immediate future, the Board looks forward to the refinancing of the Company's debentures in April, which will reduce the cost of its borrowings to below 3%.

Dividend and Inflation

A final dividend of 3.375p is recommended which will take the full year dividend to 12.675p per share, 5.6% higher than the 2020 dividend of 12.00p.

The strong growth in SAINTS' revenues over the past year means that the Board has been able to grow the dividend faster than inflation compared to the annual rate of inflation of 5.4% (as measured by CPI), and that the dividend is fully covered by current year earnings.

The Board of SAINTS announces that it is declaring a first interim dividend of 3.25p (up 6.6% on the corresponding dividend last year) per ordinary share in respect of the year to 31 December 2022, payable on 22 June 2022 to shareholders on the register at the close of business on 27 May 2022. The ex-dividend date is 26 May 2022. The Company operates a Dividend Reinvestment Plan and the final date for elections for reinvestment of this dividend is 1 June 2022

The Board expects SAINTS dividends to grow ahead of inflation over the long term and ideally also over shorter periods such as calendar years. The Board will continue to monitor the pace of inflation over the remainder of 2022 and remains confident that this year will mark the company's 49th consecutive year of dividend growth.

Dividend Declaration
RNS Number : 1205F
Scottish American Investment Co PLC
02 November 2022

Third Interim Dividend for 2022

The Board of SAINTS announces that it is declaring a third interim dividend of 3.50p per ordinary share in respect of the year to 31 December 2022 (an increase of 10.2% on the corresponding dividend last year), payable on 16 December 2022 to shareholders on the register at the close of business on 18 November 2022. The ex-dividend date is 17 November 2022. The Company operates a Dividend Reinvestment Plan and the final date for elections for reinvestment of this dividend is 25 November 2022.

The Board will continue to monitor the pace of inflation over the remainder of 2022 and remains confident that this year will mark the company's 49th consecutive year of dividend growth. The Board expects SAINTS dividends to grow ahead of inflation over the long term and ideally also over shorter periods such as calendar years.