The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Facevalue - It's interesting everyone's take on the results. The results are not great but we knew that was going to be the case. Any recent talk on here about special dividends or share buy back was always fanciful. I see it still as very much jam tomorrow. The only difference being that we now have a date for 'tomorrow'. ie. H1 results for 2021.
The increase in dividend has been wiped out (and more) by the introduction of IWT, presumably necessary after KMR withdrew from CREST. I wasn't aware of this change and if it was part of the EGM documentation then that's careless on my part. That looks like my morning occupied reading up on what it means to non residents of ROI and how to claim it back.
I guess I must be slow on the uptake. Why would Kenmare be paying either a special dividend or buying back shares? Both or either are usually announced based on the past profits from the year just ended. Profits for year end 2020 are not likely to be overwhelming so don't see either happening. Jam tomorrow - or maybe next year.
I'm grateful that a few long term posters on here have responded to my original (and first) post. Iv'e read on here for many years shaking my head reading posts from guys like BF, Peace1, Nosi etc etc 'throwing abuse' at each other. Over the years I have agreed and disagreed with all of them. We are all entitled to have an opinion. And we should all respect that.
Guys like Cap and Cont have always tried to punt 'this time next year Rodney' and then the facts would show that they have been wrong every time. Fingers crossed maybe this is their year.
Cont commended Cap for his eloquent comments. Maybe so, but I could equally counter that by complimenting observantken's responses. Some may rightly say that balance sheet's show the past, and they do, but they also state the facts and figures. Perhaps KMR have been guilty over the years of saying what they're going to do next year and never actually delivering.
Sound familiar? Let's see where we are this time next year. It's fair to say that over the past 10 years KMR have NOT been where they said they would be. I guess they have to get it right at some point.
Contango - as with everything, time will tell. Someone posted an excellent comment the other day that LTH's had been here many times before. I'm one of them lol. We were at circa £3.60 per share 5 years ago so whilst it is very encouraging where we are now I still believe we need to see what the financials disclose. Are you expecting an increase or decrease in year end profit 2019 v 2020 and likewise with the year end dividend ??
Solid sounding comments from KMR that can't be confirmed until we see the year end Financials. The rise in SP over the past 6 months has been far beyond any of our expectations. Drilling down in to their statement. It's still what we're going to do (jam tomorrow??) rather than what they've delivered. This time next year Rodney.....
Poorje - Richorpoorbeat me to it. If you get the chance, work your way through the Official Kenmare website and its various 'tabs'. Directors, Financials, Investor Updates/Calendar etc etc.
A lot of excellent information for you to digest and saves asking 'lazy' questions where the answers are easily accessible. Let's hope for more good news Wednesday morning