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Temple Bar TMPL
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- Lemon Quarter
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- Lemon Slice
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Re: Temple Bar TMPL
I promised myself I would sell if they ever got back to £10, which I have done today. Top marks to the new managers for reviving the Trust. I'm thinking they will struggle to get back to the previous high with the reduced dividend, but who knows? Anyway, I'm out.
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- Lemon Quarter
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Re: Temple Bar TMPL
Parky wrote:I promised myself I would sell if they ever got back to £10, which I have done today. Top marks to the new managers for reviving the Trust. I'm thinking they will struggle to get back to the previous high with the reduced dividend, but who knows? Anyway, I'm out.
It'll have been in for 20 years by December 2021. Give it time! LOL.
Best wishes
Mark.
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Re: Temple Bar TMPL
Very bullish presentation by the manager on the Quoted Data Around The World webcast yesterday. Worth a watch.
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- The full Lemon
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Re: Temple Bar TMPL
At least I am well in the black again!
The value approach appeals to me, but it is a hard road to tread and often just takes too long.
Arb.
The value approach appeals to me, but it is a hard road to tread and often just takes too long.
Arb.
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- Lemon Quarter
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Re: Temple Bar TMPL
Parky wrote:I promised myself I would sell if they ever got back to £10, which I have done today. Top marks to the new managers for reviving the Trust. I'm thinking they will struggle to get back to the previous high with the reduced dividend, but who knows? Anyway, I'm out.
Is the recovery down to the managers? I do not follow Temple closely, but I wonder if it is just the recovery in value of some of the existing holdings? Or have there been wholesale changes since they took over?
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- Lemon Slice
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Re: Temple Bar TMPL
Wizard wrote:Parky wrote:I promised myself I would sell if they ever got back to £10, which I have done today. Top marks to the new managers for reviving the Trust. I'm thinking they will struggle to get back to the previous high with the reduced dividend, but who knows? Anyway, I'm out.
Is the recovery down to the managers? I do not follow Temple closely, but I wonder if it is just the recovery in value of some of the existing holdings? Or have there been wholesale changes since they took over?
They completely revamped the portfolio I believe, but kept the "value" strategy.
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- Lemon Quarter
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Re: Temple Bar TMPL
Temple Bar Investment Trust PLC Full Year Results:
https://www.investegate.co.uk/temple-ba ... 0000PC012/
Full Year Results for the year ended 31 December 2020
Temple Bar Investment Trust PLC (the “Company”) is pleased to present its full year results for the year ended 31 December 2020.
The Company's Annual Report and Financial Statements for the year ended 31 December 2020 is also being published in hard copy format and an electronic copy will shortly be available to download from the Company's website: http://www.templebarinvestments.co.uk.
Please click on the following link to view the document: https://mma.prnewswire.com/media/147125 ... 48_WEB.pdf
Dividend
Up until 2020 the Company had raised its dividend every year for 36 years and there had been no cut in the annual payment for over 50 years. Unfortunately, as previously announced, this record was impossible to maintain in the period under review. A consequence of the COVID-19 pandemic was that the majority of our investee companies either significantly reduced the level of their dividend payments or made no payment at all. This resulted in income generated from the portfolio plummeting from £39.7 million to £12.7 million, a fall of 68%.
During the year, the Company paid four interim dividends totalling 38.5p. The Board does not intend to recommend the payment of a final dividend. The total payment for the 2020 financial year represents a decline of 25.1% from the dividend paid in 2019. Even this reduced level of dividend has required a significant transfer from revenue reserves, such has been the scale of the fall in the Company’s income. Going forward, however, the Board hopes to resume dividend growth from this lower level.
https://www.investegate.co.uk/temple-ba ... 0000PC012/
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- The full Lemon
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Re: Temple Bar TMPL
These accounts show a real mess. Investments down by around 30% on the year, a much reduced dividend, no final and revenue reserves down by about 65%. I am glad I sold because even now they hold a large number of less than stelllar investments. The investment holdings may well be relatively cheap but they are relatively cheap for a reason.
Dod
Dod
Re: Temple Bar TMPL
Interesting - So 1.56% down on the day following this news, but I'm up 20% since purchase in November.
What to do ? - This was supposed to be an income purchase.
If I read the news release correctly 38.5p per share is the new normal, giving a yield of 3.3% at today's pricing down from an "expected" 4.25% at purchase.
What to do ? - This was supposed to be an income purchase.
If I read the news release correctly 38.5p per share is the new normal, giving a yield of 3.3% at today's pricing down from an "expected" 4.25% at purchase.
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- The full Lemon
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Re: Temple Bar TMPL
Were it a 'quality' IT I would hang on but just take a look at the list of investments and think about what they are likely to do. The management team are unknowns. If the yield is only 3.3% that is not enough to compensate for the other factors. Had I not done so I would sell now.
Dod
Dod
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Re: Temple Bar TMPL
It really is quite a turn round, and of course as soon as an IT fails so spectacularly, the knives come out.
Temple Bar has been a staple in my IT basket for a long time, and it was regarded (by me, sadly) as a safe and boring trust - its character was one of modest yield and steady return with the interesting possibility of recovery when value stocks return to favour. So to see it collapse was quite frankly a shock. Naturally, everyone will no say it was "obviously" going to happen, but we shouldn't judge by hindsight - especially in the time of covid trashing many companies.
We should also note that far from being full of unknown companies, there are actually quite a few shares commonly chosen on these boards - particularly in the HYP department. Value - as Tony Dye might remark if he were still alive - is a hard road to tread. Or to paraphrase: companies can stay down in trouble longer than you can stay solvent.
What it is 40, 50 years of rising dividends? then bang - suddenly you are not only hisory, but you always were rubbish, they say.
Perhaps this will happen to Nick Train? Who knows, then we'll be told he was always really rather hopeless. And just look at the companies! Pearson!! (Oh, like Temple Bar).
PS some numbers: my XIRR since 2011 to now is 7.56%, so better than my own efforts, with the dividend increasing by 1.56 times until Covid came along. During that time there's only one measurement period in which TMPL has been below the average return of my whole basket.
Arb.
Temple Bar has been a staple in my IT basket for a long time, and it was regarded (by me, sadly) as a safe and boring trust - its character was one of modest yield and steady return with the interesting possibility of recovery when value stocks return to favour. So to see it collapse was quite frankly a shock. Naturally, everyone will no say it was "obviously" going to happen, but we shouldn't judge by hindsight - especially in the time of covid trashing many companies.
We should also note that far from being full of unknown companies, there are actually quite a few shares commonly chosen on these boards - particularly in the HYP department. Value - as Tony Dye might remark if he were still alive - is a hard road to tread. Or to paraphrase: companies can stay down in trouble longer than you can stay solvent.
What it is 40, 50 years of rising dividends? then bang - suddenly you are not only hisory, but you always were rubbish, they say.
Perhaps this will happen to Nick Train? Who knows, then we'll be told he was always really rather hopeless. And just look at the companies! Pearson!! (Oh, like Temple Bar).
PS some numbers: my XIRR since 2011 to now is 7.56%, so better than my own efforts, with the dividend increasing by 1.56 times until Covid came along. During that time there's only one measurement period in which TMPL has been below the average return of my whole basket.
Arb.
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- Lemon Quarter
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Re: Temple Bar TMPL
For those holding Temple Bar:
https://www.investegate.co.uk/temple-ba ... 2331P0D6C/
Tuesday 04 May, 2021
Temple Bar Investment Trust Plc
Dividend Declaration
FIRST INTERIM DIVIDEND
The Board of Temple Bar Investment Trust plc has today declared its first interim dividend for the year ending 31 December 2021 of 9.75p per ordinary share. To be paid on 30 June 2021 to those shareholders registered at the close of business on 4 June 2021.
The shares will go ex-dividend on 3 June 2021.
The Company intends to pay four interim dividends totalling at least 39.00p per ordinary share for the year ending 31 December 2021
https://www.investegate.co.uk/temple-ba ... 2331P0D6C/
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- The full Lemon
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Re: Temple Bar TMPL
richfool wrote:For those holding Temple Bar:Tuesday 04 May, 2021
Temple Bar Investment Trust Plc
Dividend Declaration
FIRST INTERIM DIVIDEND
The Board of Temple Bar Investment Trust plc has today declared its first interim dividend for the year ending 31 December 2021 of 9.75p per ordinary share. To be paid on 30 June 2021 to those shareholders registered at the close of business on 4 June 2021.
The shares will go ex-dividend on 3 June 2021.
The Company intends to pay four interim dividends totalling at least 39.00p per ordinary share for the year ending 31 December 2021
https://www.investegate.co.uk/temple-ba ... 2331P0D6C/
Well, clutching at straws, I've had some dividend growth in the past five years: a princely 0.7% a year. Slightly disappointing sentence at the end, for if the fourth interim isn't hiked up as usual, it means yet another decline in annual payout. From 41.25p to 39p.
Arb.
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