Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Hi Zac, I know how you feel with a seemingly perennial paper loss but come next Friday there’s that quarterly reminder(in some cases commiseration) for why we’ve all invested here.
If I’m really honest I don’t care how much of the divvy is made up from dealing,option-trading or whatever as long as they keep paying it and having had the income knock during covid when so many of my holdings didn’t pay,didn’t want to pay or were told not to pay etc I’m more favourable about those holdings,whether trusts or individual companies that did continue to pay.
On share price this one fluctuates along with the rest of them but having confidence that they must know what they’re doing or they wouldn’t keep paying gives me confidence to hold them as part of an income portfolio and I can think of plenty of ‘growth funds’ without anything like this income that have fared considerably worse in terms of SP the last few years….unfortunately I have some of them! GLA
Good point, I just read the update on one of my trusts and posted an extract on there…..first one for 10 years!!
Hope all good in TECA land.
Ponds filling up nicely up here Troj.
Chairman's Statement
Revenue and dividends
I am pleased to report that the Company was able to increase its dividend for the 27th year running. Dividends per share for the year of 13.2p represent a 3.1% increase on the previous year. Given the high and accelerating level of inflation during the year, the Company was unable to increase the dividend in real terms, however it has continued to fulfil its primary objective of 'real growth of income' above the levels of inflation over the last five and ten years. The income earned by the Company recovered over the last year as companies gradually began to increase their dividends. Earnings per share for the Company increased by 15.6% to 13.96 pence per share.
A transfer of £527,000 will be made to the Company's revenue reserve, allowing £7.96 million to be carried forward, which amounts to 87% of this year's total proposed dividends.
Hi Sain, I remember him being quite a player in the Hambro Countrywide days!
The news doesn’t seem to have moved the dial here it has to be said. If the market continues to tighten up I’d say the list only agents will struggle and their silly fee structures will become irrelevant if the sales don’t happen!
Didn’t know HH had been involved with the Bruce’s before.
Dividends
The Company paid a total dividend of 23.80p per ordinary share in the year ended 31 August 2022 representing a 1.7% increase over the prior year and our 15th consecutive year of increasing dividends. The financial year just passed has been a challenging one, but our portfolio companies achieved a good rebound in dividend payments and our forecast for dividends in the current year is cautiously positive. After paying the dividend, we will once again be adding a moderate amount to the revenue reserve, which we use to smooth the dividend when market conditions are severe.
Factory conveyancers and indemnity policies, great way to lower the bar and strangulate the process!
My practice on a busy high st went crazy in ‘08 with all sorts of new ‘agents’ opening up and the common denominator was they all had ridiculous names….went from a balanced 8 to 12 and within one quarter after the banking crash I was one of 6 and I have to say I prospered from it because the punters suddenly woke up to wanting an agent who was there 7 days, answered the phones,did viewings to suit them not us and was able to put deals together!
The order taker mentality has gone on too long and I reckon the clients will once again wake up to wanting an agent who actually provides a service and acts for them rather than selling themselves on fees and gimmicks!
Hi Mick, you’re welcome mate, it’s interesting to look at these things from an insiders view and that lot were never popular from day one because agents looked at it as another bill to pay and would never challenge Rightmove’s domination in that space plus they were the founders of Purplebricks who were always seen as disrupters who didn’t benefit the consumer or raise the bar with agents.
Troj glad it’s sorted. Most home insurers won’t cover drives or boundary walls as we discovered ourselves once…..if the boundary wall is connected to the house it’s a different matter apparently. My late father used to refer to insurance companies as legalised crooks lol.
P.s. the big cement excuse down my way is they’re still having most of the supply for HS2….or is that the excuse for charging 7.50 a bag?
Crikey mate, didn’t realise you were under Anglian Water up there!
Sounds like there’s too many boffins and not enough practicality going on with that job, I remember taking out the gas supply for a few streets putting a for sale board up….what a mess plus not the right publicity either!
Hope it gets sorted out to your satisfaction. Maybe as shareholders of UU we should have a word???
Hi Sain, interesting on the Boomin story, been following it on the Eye and no major surprises it would seem on their outcome….see a bandwagon,jump on at your peril!
Proper deal maker agents seeing this blip as a good opportunity to make deals whilst the disrupters and pretenders will fall by the wayside. Still think there’s a glimmer somewhere in this one but the light is dimming and I’ve written my small holding off ages ago anyway!
Well it’s done a lot better than JP Morgan China which have more than halved this year and I suspect(although I haven’t bothered checking) they’ve cut the div in line with nav, which means they’re not ‘as bad’ IMO!
Troj, I reckon I paid 7.50 a bag a couple of weeks ago at Wickes…..aaaarghhhhh!
Property a bit like shares, everyone’s got a opinion which varies with what they own and at what price they bought!
https://propertyindustryeye.com/opinion-ha-brilliant-boomin-has-gone-bust/
https://propertyindustryeye.com/eye-opinion-was-boomin-ever-going-to-be-a-contender/
And everyone else’s mate, kicked the froth out of the resi market too(property) so everyone noticed!! I see that Boomin property portal went belly up yesterday….started by the Purplebricks founders….disrupters all the way!
Afternoon all, hope all doing okay?
Decent day on the markets and glad to see a few losses eroded and some recent purchases actually showing a small profit. Looking back the truss/kwazi period was quite a good buying opportunity!!
I wish they’d get on with it and put a number on the table so as holders we can then decide what we’re doing! Since the Panmure approach happened the SP has hardly moved(although it was nice to get the divi a few weeks ago!). GLA
I agree on the points made,particularly if you factor in the divs received and over a longer view. Whilst we’re skating along(or today just above!) the bottom, it’s not so bad!
I think my ‘average’ is around 320 so it’s been a while since I’ve been in profit but even if I was I wouldn’t look to reduce unless they were 350ish and that would only be to spread the capital around a few other trusts to increase the diversity and frequency of income.
Plenty of quality mixed bag income trusts around but the dividend history here is to date exceptional and I’ve held these in varying quantities since the banking crisis, so if I was to factor in the 6-9% income I’m guessing it wouldn’t be that bad tbh.
Frustrating day as most up except these and Jupiter.
I guess the China news the driver as mentioned but knowing the Chinese love of money, I’d like to think their strange version of communism (capitalism!) I doubt that it’ll drop as much as the focused funds.
Definitely an add dilemma ahead of the ex now!