CVCG?

[ukmtk]

According to the AIC website https://www.theaic.co.uk/companydata/cvc-income-growth-gbx the yield of this is 8.37%.
Is this the right ballpark figure for the yield? I have seen lower figures mentioned elsewhere.

[kempiejon]

CVCG?

CVC Income & Growth Ltd GBP?

CVCG	CVC Income & Growth GBP	FTSE SmallCap	2.0625p	01-May-24CVCG 01-May-24 Dividend Announcement	09-May-24	31-May-24
CVCG	CVC Income & Growth GBP	FTSE SmallCap	4.125p	30-Jan-24CVCG 30-Jan-24 Dividend Announcement	08-Feb-24	01-Mar-24
CVCG	CVC Income & Growth GBP	FTSE SmallCap	1.875p	25-Oct-23CVCG 25-Oct-23 Dividend Announcement	09-Nov-23	01-Dec-23
CVCG	CVC Income & Growth GBP	FTSE SmallCap	1.875p	27-Jul-23CVCG 27-Jul-23 Dividend Announcement	10-Aug-23	01-Sep-23
CVCG	CVC Income & Growth GBP	FTSE SmallCap	1.875p	02-May-23CVCG 02-May-23 Dividend Announcement	11-May-23	02-Jun-23
CVCG	CVC Income & Growth GBP	FTSE SmallCap	2.5p	30-Jan-23CVCG 30-Jan-23 Dividend Announcement	09-Feb-23	03-Mar-23
CVCG	CVC Income & Growth GBP	FTSE SmallCap	1.5p	27-Oct-22CVCG 27-Oct-22 Dividend Announcement	03-Nov-22	25-Nov-22
CVCG	CVC Income & Growth GBP	FTSE SmallCap	1.25p	28-Jul-22CVCG 28-Jul-22 Dividend Announcement	04-Aug-22	26-Aug-22

Price 118p. Last 4 quarterly dividends are 9.9975p I get that as 8.42%. One could go to their investors page but I used dividenddata and google.
https://www.dividenddata.co.uk/ex-divid ... hTerm=CVCG
https://www.google.com/search?q=CVCG&so ... e&ie=UTF-8

[clissold345]

Does anyone own CVCG? I was thinking of buying some (for the yield and hopefully some capital growth). What are the good points/bad points?

CVC Income & Growth (CVCG)

From the last Annual Report:

"The Company's investment policy is to invest predominantly in debt instruments issued by companies across various industries domiciled, or with material operations, in Western Europe. These investments are mainly focused on the senior secured obligations of such companies, but investments are also made across the capital structure of such companies."

"Shareholders will have seen a number of recent announcements by the Company in relation to the distribution policy. The continued positive trends in the yield metrics that I mentioned above have enabled the Board to again raise the Company’s quarterly dividend target and also to pay a significantly enhanced dividend in respect of the fourth quarter of 2023. At the current nominal target dividend levels of £0.0825 per Sterling share and €0.0725 per Euro share for 2024, the Company’s Sterling and Euro shares offer a cash yield of around 7% and 8% respectively. The cash yield is subject to changes in the Company’s share price, which is dependent on movements in the market. No changes to the nominal target dividend levels are anticipated for at least the next 12 months."

Yield = 8.19% (from the AIC website).

Ongoing charges 1.82% (from the AIC website).

[monabri]

Note: domiciled in Jersey ( see the ISIN) so income will be "foreign " .

[moorfield]

Does anyone own CVCG? I was thinking of buying some (for the yield and hopefully some capital growth). What are the good points/bad points?

If you are building a PHY and looking to "tick off" the Debt/Loans & Bonds sector then you'll need to find reasons not to select NCYF first - higher yield and a dividend hero history to boot. So spin the question around perhaps - what do you see in CVCG that you don't see in NCYF? Or are you just into collecting stamps?

[kempiejon]

Does anyone own CVCG? I was thinking of buying some (for the yield and hopefully some capital growth). What are the good points/bad points?

If you are building a PHY and looking to "tick off" the Debt/Loans & Bonds sector then you'll need to find reasons not to select NCYF first - higher yield and a dividend hero history to boot. So spin the question around perhaps - what do you see in CVCG that you don't see in NCYF? Or are you just into collecting stamps?

For the growth, perhaps? Though currently at slight premium to NAV for the first time in a few years.

[clissold345]

For the growth, perhaps? Though currently at slight premium to NAV for the first time in a few years.

Yes I think CVCG offers some capital growth. 1/3/5 year total return = 33.6% / 40.4% / 59.3% (source AIC website).

CVCG mainly hold floating rate instruments (always about 80% floating rate instruments I think). In the last financial year investment revenue = £19.9M and they paid £18.9M in dividends. Page 88 of the last Annual Report gives total dividends paid per share for the last ten years.

[88V8]

For the growth, perhaps? Though currently at slight premium to NAV for the first time in a few years.

Yes I think CVCG offers some capital growth. 1/3/5 year total return = 33.6% / 40.4% / 59.3% (source AIC website).
CVCG mainly hold floating rate instruments (always about 80% floating rate instruments I think).

I already hold BIPS, SMIF, TFIF and NCYF in this space, but none of them have been great for growth, not that that is a prime concern to me but nevertheless....
If CVCG's top holdings are sufficiently divergent from those of the other four, they could be a worthwhile addition.

V8

[88V8]

Yes I think CVCG offers some capital growth. 1/3/5 year total return = 33.6% / 40.4% / 59.3% (source AIC website).
CVCG mainly hold floating rate instruments (always about 80% floating rate instruments I think).

I already hold BIPS, SMIF, TFIF and NCYF in this space....
If CVCG's top holdings are sufficiently divergent from those of the other four, they could be a worthwhile addition.

As far as I can see there is little or no overlap.
CVCG's summary says they invest in sub-investment grade instruments, so a bit of a punt on the European economy.
I have taken a small position, and it is likely to remain small.
Stamp collecting... sigh... guilty, m'lud.

V8