Chelverton UK commits to at least maintain its dividend – Chelverton UK Dividend Trust has published its annual report for the year to 31 April 2020. The gearing provided by its zero dividend preference shares has amplified the COVID-19 related fall in its NAV. The NAV total return on the ordinary shares was -36.1%. Shareholders […]
The FT publishes some high-quality data about the spread of COVID-19. Measures of confirmed cases are distorted by a lack of testing in some parts of the world, but the death statistics are harder to argue with. The disease has sadly claimed the lives of at least 500,000 people. In April, these deaths were mainly […]
In all the covid-induced uncertainty in the property market, it was refreshing to see a REIT report strong figures and prospects for the future this week. Civitas Social Housing’s full year results saw it deliver a total return to shareholders of 20.4%, increase its NAV, and boost its dividend target for FY2021 to 5.4p. The […]
In QuotedData’s morning briefing 2 July 2020: Schroder Oriental Income Fund says that shareholders overwhelmingly approved a resolution to shift the fund’s tax domicile from Guernsey to the UK. 99.78% of those voting approved the measure. The company should soon become a UK investment trust. Under fire Gabelli Value Plus+ reported a 25% fall in NAV […]
Aberdeen New Dawn positions itself to ride out the storm – Aberdeen New Dawn says that, for the year ended 30 April 2020, its return to shareholders was -8.4%. The NAV return was only marginally behind that of the MSCI All Countries Asia Pacific ex Japan Index benchmark (-5.5% versus -5.2%) but the turmoil associated with […]
Hipgnosis launches latest fundraise – On 12 June 2020, Hipgnosis Songs Fund Limited announced that its investment adviser was in active discussions on a pipeline of catalogues with an acquisition value of over £1bn and that the company was therefore exploring raising additional funding for further investments. Accordingly, today it has announced its intention to raise a […]
Aberdeen Frontier Markets throws in the towel – having failed to beat its benchmark over the two years ended 30 June 2020, the board intends to fulfill the promise it made in October 2018. Shareholders were to be offered a cash exit at NAV but “following careful consideration of the amended discount control policy, the […]
Civitas Social Housing delivers on promises – over the year ended 31 March 2020, Civitas Social Housing delivered a total return to shareholders of 20.4%, an increased NAV (up to 107.87 from 107.08), its dividend target of 5.3p (up from 5.0p), and a run-rate dividend cover of 100% as at 31 March 2020. the new […]
In QuotedData’s morning briefing 30 June 2020: Polar Capital Global Financial declared a 2.4p interim dividend, in line with its commitment to maintain distributions to shareholders despite regulatory blocks to bank’s dividends. Redefine Properties has sold its 29.42% stake in RDI REIT to affiliates controlled by Starwood Capital Group. RDI REIT’s shares rose strongly on he […]
NextEnergy hit by falling power price – NextEnergy Solar Fund says that, over the year ended 31 March 2020, its NAV fell from 110.9p to 99.0p. This translated into an NAV total return of -4.6%, which, when combined with a fall in the premium, left shareholders with a return of -7.8%. NextEnergy met its dividend target […]
