Edinburgh (EDIN) dividend

[monabri]

https://www.investegate.co.uk/edinburgh ... 0000P239C/

"The Directors of The Edinburgh Investment Trust plc (the “Company”) announce that they have declared a second interim dividend for the year ending 31 March 2021 of 6.00 pence per ordinary share (2020: 6.40p). The dividend is payable on 26 February 2021 to Ordinary Shareholders on the register on 5 February 2021. The shares will be quoted ex-dividend on 4 February 2021. "

[Dod101]

So that reflects the plans they put forward last year to cut their dividend. Glad I sold when I did although the share price has risen a bit since then.

Dod

[monabri]

In the interim report in Nov 2020 the Chair reported

"The Board has therefore re-set the annual ordinary dividends to 24.0 pence per share, a level from which we believe it can grow progressively in future years"

https://www.majedie.com/wp-content/uplo ... r-2020.pdf

[Arborbridge]

So that reflects the plans they put forward last year to cut their dividend. Glad I sold when I did although the share price has risen a bit since then.

Dod

Glad I kept it to balance some greater cuts in the HYP dividends

Actually, more seriously, it will be interesting to see how the future course of dividends shapes up between my two streams of income.

Arb.

[Dod101]

I too was, I suppose, justifying my decision to sell

I am slightly bemused that they did not elect to use some of their Revenue Reserves to bolster the dividend. It tends overall though to suggest that we might as well hang on. I sold Edinburgh and bought SSE at £13.28 in June 2020 so so far I think there is not a lot to choose between them. Anyway I am happy with SSE again.

Dod

[88V8]

I am happy with SSE again.

And not long ago, I was happy to sell SSE. Which of course is what makes a market.

In re dividend and reserves, I think there is more incentive to use reserves if the IT has a significant 'moat' to defend that is to say a long record of no cuts. Such a record is a USP that cannot readily be recreated, and so as a pure income investor I have largely confined myself to ITs of that ilk.
Edin is not one of them.

V8