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Clig has been a rock solid dividend payer for me for over 10 years. Unfortunately capital decline has offset the dividends, so we wait for lower interest rates to boost high yielding shares.
As an asset manager, this is by no means the worst in my portfolio. All asset managers have taken fairly substantial hits over the last few years, as money left equities and moved into bonds and gilts. The hope of course is that trade might unwind somewhat as rates fall but that may be a fairly slow process. Still, the div is nice while we wait.
Guitarsolo
Thank you for your response, its nice to get anothers views.
I have only held CLIG since August 2022, so not long.
I tend to think I bought the right company at the wrong time, hence including dividends thus far I'm still £2.4k down.
Unfortunately my average including taxes etc. is £4.0165.
I suspect once the base rate has dropped a couple of times my loss will narrow.
ATB
Hi Paul,
CLIG is definitely one of those shares where your buying price matters more than most. I first invested over 10 years ago (I think) at 240p when it was paying 24p dividends. That tranche has done well.
I've also added at what, in hindsight, was way too high in the 430s.
My take on CLIG is that it is a reasonable asset manager that won't set the world on fire but will pay a high dividend. I don't expect the dividend to increase until EPS is improving (and that depends on AUM).
Personally, I will now only add when the yield is over 10% (i.e. share price under 330p). I think if you do that you've got some protection against capital erosion, hopefully a chance at capital gain (at times), and a high dividend while you wait.
Just my thoughts of course!
Guitarsolo
I already hold these and have averaged down a couple of times. Its starting to feel like I am just chasing the price down.
The dividend is nice but not if it fails to compensate for capital lost.
Any insights shared would be appreciated.
Ex Div tomorrow - 11p
Pay 28th March
Hi Pokerchips,
I'm pleased to see projections that the dividend cover will exceed x1.0 and creep up (albeit they're only projections).
I've been in CLIG since October 2013 when I bought in for 240p when the dividend was 24p. I've added over the years since, sometimes a bit too high in hindsight.
Bottom line, this is a solid investment if you can buy at a 10% yield. That was available recently and most likely will be again at some point. I wish the company was a bit more consistent with its performance as that would attract more funds. I wish too they would give a little more to the shareholders! But it's not bad overall, especially if you can be restrained to wait for the 10% yield opportunities.
Guitarsolo
Dividend cover and projected earnings is useful
http://www.rns-pdf.londonstockexchange.com/rns/3692A_1-2024-1-20.pdf
Seems to be on the up now anyway and if they maintain divi at last years level must make it about 9% or more at £3.60 sp.
Not bad if interest rates start falling.
Had this share many years along with reasonable divis,bought more at 315p recently . The spread is huge and the bid never seems to reflect any short term rise.
"The Group estimates the unaudited profit before amortisation and taxation for the six months ended 31 December 2023 to be approximately US$13.9 million (six months ended 31 December 2022: US$13.8 million, restated in USD based on average exchange rate)."
" Cash and cash equivalents stood at US$28.8 million at the end of the calendar year (US$28.6 million as at 30 June 2023, restated in USD based on closing exchange rate), in addition to the seed investments of US$2.4 million"
"The Board declares an interim dividend of 11p per share, which will be paid on 28 March 2024 to shareholders registered at the close of business on 1 March 2024 (2022: 11 pence)."
I bought more here at 319p. The company says it thinks it can continue to pay the good dividend but blog/market commentary suggest they will find it difficult given 2023 performance and continued performance of Developing market funds
I guess it depends on whether Interest rates drop back over the year and money moves out of the Dollar and into elsewhere
I dont mind holding into 2025 on this one
Ex dividend today hence the drop. Dividend to be paid is 22p ; todays sp drop is 19p.
Final & interim is 33p, so 8.6% annual yield. Not including the 13.5p special dividend paid in March this year.
RNS was positive wasn’t it? I’ve bought some more anyway.
directors.t.a.l.k.c.o.m (take out the dots)
https://www.***************************/city-of-london-investment-group-solid-results-in-volatile-markets/4121111513
I would consider adding below £4.5, although I don't intend do at this moment.
Anything below £4 would be a buy for me as I believe thats an incredible entry point, but I don't see any reasons at this time why it should reach that level.
My current average is £4.126, and I'm more than happy to hold at that price. If I had more free cash I would like to increase my holding, but I don't so have to put the money to work elsewhere.
not helped by being the turkey voting for Christmas, if they vote to go along with JPMorgan's plans to change JRS into JEMEA...JRS has been a basket case since March, but there is potentially substantial value to be released when Russia/Ukr/NATO/ USA situation calms down...why screw around with it now...CLIG say ethical concerns??? if they had ethical concerns they would have sold out in March
Fum reducing every quarter without a respite. What was a reliable sustainable fund has morph.d into a quagmire.
Exit stage left pdq
Have we hit ,Bouncing along @ £4.10
Most of the damage was emerging markets and we know that CLIG was affected by Russian holdings to some extent, also China must be having an impact. Still, dividend maintained...for now.
I have also held it . for. many. years and it appears t be. very well managed. I. am. sure it . will recover. when the. markets. do and. they are . very "dividend. friendly"
The dividend is always welcome but I thought the results were disappointing with funds under management (est.) down by about 20% (correct me if I'm wrong). I have held this share for years and it has always performed quite well - I think it is an example of the overall malaise in financial stocks at the moment. I had hoped the US tie up would have been more transformational - early days perhaps.
This board has been quiet for a long time. How do people feel about the results today? 22p dividend is nice.
Ex dividend this month and paid 24.5p in March - interim and including a special dividend.
So at 500p last week, I reckon that's 9% full year return .
Lovely performing equity for my SIPP.
I see 1/2m bought by Barry Olliff (100k), Barry Aling (50k) and Employee Benefit Trust (350k) yesterday.