Aseana mulling demerger Aseana Properties says that it is considering proposals to demerge certain assets held by the company in exchange for the buyback and cancellation of a significant percentage of its shares. The transaction would involve buying back shares owned by Ireka Corporation Berhad and its concert party Legacy Essence Limited along with certain other shareholders […]
Witan Pacific underperforms again – Over the year ended 31 January 2020, Witan Pacific returned 5.2% in NAV terms, 3.5% less than the return on its benchmark (the MSCI Asia Pacific Free Index). Fortunately for shareholders, a narrowing of the discount left them with returns of 12.3%. The dividend was increased from 7p to 7.15p. […]
ICG Longbow looks forward to covered dividend – ICG Longbow Senior Secured UK Property Debt’s NAV fell slightly to 98.2p over the year ended 31 January 2020. The shares were trading at a modest premium to that at the year end, at 99p. The dividend was maintained at 6p. Earnings per share were 5.04p (up from […]
In QuotedData’s morning briefing 7 May 2020. As IAG (parent company of British Airways) says it does not expect to see 2019’s level of passenger demand for flights again until 2023 and BT suspends its dividend for the previous and current financial year – dealing another blow to UK equity income investors: Origo Partners says that […]
3i Infrastructure let down by falling premium – in what was otherwise a good year, a reduction in the premium to asset value that the shares trade at left shareholders nursing a loss. 3i Infrastructure reports an 11.4% return on NAV for the year ended 31 March 2020. It hit its 9.2p dividend target and […]
New Thai board gets tough after poor year – Aberdeen New Thai underperformed its benchmark over the year to the end of February 2020, posting a -16.6% return on NAV versus a -12.8% return on the Stock Exchange of Thailand. A widening discount left investors with a -18.7% return on their shares. The dividend was increased […]
Ecofin is growing again – Ecofin Global Utilities and Infrastructure Trust (EGL) announced on 29 April that it had issued 750,000 shares at 158.2p and yesterday it issued 600,000 shares at 152.5p. Both share issues were done at a price higher than the net asset value, enhancing the underlying value of the shares owned by […]
In QuotedData’s morning briefing 5 May 2020 Diverse Income received redemption requests from holders of 20.2m shares (5.35%) of the company. The price that they get for their shares will be revealed later this month. That is not a bad result given the market backdrop, but Diverse Income has turned out to be one of the […]
Shell has cut its dividend for the first time since the Second World War. This is bad news for many UK equity income trusts including Temple Bar. The quarterly payment is shrinking from 47 cents to 16 cents. The announcement reads as though this may be a long-term measure rather than a temporary one. Shell […]
In QuotedData’s morning briefing 30 April 2020, as Shell cuts its dividend for the first time since the Second World War: Yellow Cake has extended its $2m buyback programme to 21 July. $985,868 has been deployed so far – about half. Urban Logistics REIT has spent £47m of the £136m it raised in March buying seven […]
