City of London IT (CTY) - Q4 Dividend Declaration

[Itsallaguess]

The Board of The City of London Investment Trust plc announces that -

A fourth interim dividend of 5.00p per ordinary share, will be paid on 31 August 2022 to holders registered at the close of business on 5 August 2022.

The Company's shares will go ex-dividend on 4 August 2022.

The total dividend for the year to 30 June 2022 is 19.60p per share, an increase of 2.6% over the previous year.

https://www.investegate.co.uk/city-of-london-it--cty-/rns/dividend-declaration/202207211545023521T/

Cheers,

Itsallaguess

[moorfield]

Which puts CTY on a yield of 4.8% today.

[nmdhqbc]

Which puts CTY on a yield of 4.8% today.

what you'd get in the next 12 months buying at close price would be at least (not with 100% certainty of course)...
(4*5.0)/407 = 4.91%
but stamp duty would make it (other buying costs depend on the amount)...
(4*5.0*0.995)/407 = 4.89%
but then the last of the 4 payments would normally be increased so maybe as a conservative estimate...
(((3*5.0)+5.1)*0.995)/407 = 4.91%

[Darka]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

They complement my other investments, some for income, some for growth and income and some for growth only.

[moorfield]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

Quite so. You haven't tempted me (yet) into asking HYPsters that question I like to ask. You know the one I mean.

[moorfield]

CTY & MYI

Everything the income seeker needs.

Interesting, you would hold only those two ?

A lot simpler than a HYP, certainly.

[TUK020]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

They complement my other investments, some for income, some for growth and income and some for growth only.

I must admit, I was watching CTY's performance warily through the COVID crash, but they trundled on, delivering income without missing a beat. Won't shoot the lights out in terms of performance, and lagging behind current inflation in real terms. But very solid.

[moorfield]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

They complement my other investments, some for income, some for growth and income and some for growth only.

I must admit, I was watching CTY's performance warily through the COVID crash, but they trundled on, delivering income without missing a beat. Won't shoot the lights out in terms of performance, and lagging behind current inflation in real terms. But very solid.

Although I reference CTY often here, I don't actually hold it. Rather I view it as an income investment of the "last resort", in other words I do not seek to buy individual shares on lower yields, for income.

[88V8]

Although I reference CTY often here, I don't actually hold it.

[Arborbridge]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

They complement my other investments, some for income, some for growth and income and some for growth only.

I must admit, I was watching CTY's performance warily through the COVID crash, but they trundled on, delivering income without missing a beat. Won't shoot the lights out in terms of performance, and lagging behind current inflation in real terms. But very solid.

Although I reference CTY often here, I don't actually hold it. Rather I view it as an income investment of the "last resort", in other words I do not seek to buy individual shares on lower yields, for income.

Interesting - I think it was my first resort when I knew I needed steady income (actually, before I needed income, strictly speaking) and didn't have confidence in doing anything else.
Indeed, it might have been my very first IT, decades ago.

My BiL, who is all after asset culling for income, is very sarcastic about anyone who holds it - including me.

[moorfield]

My BiL, who is all after asset culling for income, is very sarcastic about anyone who holds it - including me.

Presumably then neither your sarcastic BiL or yourself hold any companies yielding less than CTY, for income?

Welcome back btw, enjoying the summer?

[Dod101]

I know there are some that don't appreciate CTY, but I like them.

Simple and steady, exactly the kind of investment one wants as part of a retirement portfolio.

They complement my other investments, some for income, some for growth and income and some for growth only.

I must admit, I was watching CTY's performance warily through the COVID crash, but they trundled on, delivering income without missing a beat. Won't shoot the lights out in terms of performance, and lagging behind current inflation in real terms. But very solid.

Although I reference CTY often here, I don't actually hold it. Rather I view it as an income investment of the "last resort", in other words I do not seek to buy individual shares on lower yields, for income.

Interesting - I think it was my first resort when I knew I needed steady income (actually, before I needed income, strictly speaking) and didn't have confidence in doing anything else.
Indeed, it might have been my very first IT, decades ago.

My BiL, who is all after asset culling for income, is very sarcastic about anyone who holds it - including me.

Welcome back, Arb. I share your BiL's feelings about City of London.

Dod

[Arborbridge]

My BiL, who is all after asset culling for income, is very sarcastic about anyone who holds it - including me.

Presumably then neither your sarcastic BiL or yourself hold any companies yielding less than CTY, for income?

Welcome back btw, enjoying the summer?

Thanks both

I've been living on my boat for a week short of two months, travelling Chichester to Falmouth and back. I haven't looked at my portfolios or TLF in that time or even felt like it! I've enjoyed the "time off" and behaved like the true HYPer which some people aspire to be.

I assume my HYP is trundling along without my help and all I've done is had the occasional check to see my current account is OK.

I see a complication I will have to gets to grips with as regards record keeping - the GSK spin-off thingy. Of course, I could just ignore it....

To answer the question, Moorfield: you tease. You know well I (and most HYPers) have some companies which fall below that kind of yield, but being HYP, one does little about it - at least unless it becomes a nagging problem.

Arb.

[jackdaww]

.

it has been said somewhere on here that CTY is pretty well a close proxy to a HYP.

without all the fuss...

[moorfield]

.

it has been said somewhere on here that CTY is pretty well a close proxy to a HYP.

without all the fuss...

My own view is CTY is a reasonable proxy for the bar - ie. yield - that HYP should always be aiming to beat, ideally by all individual holdings, certainly by portfolio overall. HYP's Guidelines definition of "high yield", the FTSE 100 index, is flawed imo because that includes non dividend payers/zero yielders - usually 10+ constituents at any one time - so should be stripped out of the calculation. Many HYPsters tend to dump zero yielders after all (certainly newbie HYPsters wouldn't buy them!), so why not adjust that benchmark accordingly? And folk will then find it is not too different to CTY...

[moorfield]

.

without all the fuss...

Yes but retired gentlemen who do not spend their idle days sailing from Chichester to Falmouth and back again (I am hugely jealous) need a keyboard hobby. And therein unforced income erosion begins....