CLIG City of London Investment Group
Posted: September 8th, 2023, 3:33 pm
I first bought this over 10-years ago at a price of 274p and topped up later. It was the high dividend and apparently solid company that attracted my attention. Over subsequent years it rose to over 500p while paying very high dividends year after year. In 2021 I decided to take my profit because I was slimming down my SIPP portfolio and take a more hands off approach.
It's quite a small company (About £195m market cap. Annual yield is currently about 8.4% and the next dividend pays out 22p in October (x/d 28/9) which alone yields 5.6% at the current price. Last figure for dividend cover was 1.34%. Current mid market price is 390p.
I opened a small position in my SIPP because I felt it has a bit of potential to return to the highs around 600p reached in 2021.
Has anyone else on this board owned or still own CLIG and delved a little deeper into the company's financial well-being and prospects?
Y
It's quite a small company (About £195m market cap. Annual yield is currently about 8.4% and the next dividend pays out 22p in October (x/d 28/9) which alone yields 5.6% at the current price. Last figure for dividend cover was 1.34%. Current mid market price is 390p.
I opened a small position in my SIPP because I felt it has a bit of potential to return to the highs around 600p reached in 2021.
Has anyone else on this board owned or still own CLIG and delved a little deeper into the company's financial well-being and prospects?
Y