Edinburgh Investment Trust PLC (EDIN) - Half-year Report.

[idpickering]

Highlights:

· Net Asset Value (NAV) per share (with debt at fair value) on a total return basis increased by 4.5% compared to the 1.4% return on the FTSE All-Share Index

· The share price total return was 3.3%

· First interim dividend declared on 25 October 2023, up 4.7% from the same period in 2022, at 6.7p per share

· Net gearing (debt at fair value) at 30 September 2023 of 4.1%

· Share price discount to NAV moved from 7.5% to 8.7% in the six months to 30 September 2023

· Since James de Uphaugh became Manager of the Company in March 2020, the cumulative NAV return of 73.3% and the share price return of 81.2% have outperformed the FTSE All-Share return of 49.5 (all in total return terms)

https://www.investegate.co.uk/announcem ... rt/7893059

Ian (No holding).

[richfool]

Edinburgh second dividend declaration:

Dividend Declaration
Edinburgh Investment Trust PLC
24 January 2024
The Edinburgh Investment Trust plc

Declaration of second interim dividend LEI: 549300HV0VXCRONER808

The Directors of The Edinburgh Investment Trust plc announce that they have declared a second interim dividend for the year ending 31 March 2024 of 6.7 pence per ordinary share (2023: 6.4p). The dividend is payable on 23 February 2024 to Ordinary Shareholders on the register on 2 February 2024. The shares will be quoted ex-dividend on 1 February 2024.

The Company's proposed dividend schedule for the current financial year may be viewed at the Company's website: http://www.edinburgh-investment-trust.co.uk

https://www.investegate.co.uk/announcem ... on/8003264

I hold EDIN.

[monabri]

A slow recovery in dividend growth ( currently a negative 5yr rate)

https://www.theaic.co.uk/companydata/ed ... /dividends

Revenue Reserves are looking ok.

[richfool]

A slow recovery in dividend growth ( currently a negative 5yr rate)

https://www.theaic.co.uk/companydata/ed ... /dividends

Revenue Reserves are looking ok.

Note there was a change of manager about 4 years ago. I bought in more recently as I like the holdings, which I see as having reasonable growth prospects and not over-reaching for yield..

[monabri]

A slow recovery in dividend growth ( currently a negative 5yr rate)

https://www.theaic.co.uk/companydata/ed ... /dividends

Revenue Reserves are looking ok.

Note there was a change of manager about 4 years ago. I bought in more recently as I like the holdings, which I see as having reasonable growth prospects and not over-reaching for yield..

Top 10 holdings from the AIC link - I only hold HSBA. I wouldn't normally buy Tesco, MKS,NatWest..Centrica. I wish I'd bought Ashtead!

[Padders72]

I have a modest holding, am I missing some significance of this announcement? This will be the 4th 6.7p dividend in a row so not exactly a surprise.

[Arborbridge]

Over my holding period, which is from 2009, CTY divdends have increased 50%, and EDIN 19%.

On the other hand, EDIN has better reserves, so take your choice! For such reasons, I tend to collect several ITs where others have on;y one.

Arb.

[scotia]

Total Return over 5 years:
Edinburgh Investment Trust 34.1%
City of London 29.0%
HSBC FTSE All Share Index Fund 29.3%
Edinburgh Investment Trust has been a bit more volatile, performing poorly over the first two years of this 5 year period, then catching up and out performing over the last 3 years. City of London has closely matched the All Share Index throughout.
My choice over the 5 years (in the UK) has been Finsbury Growth and Income Trust, which surprisingly has been less volatile, but has only achieved a total return of 20.2%.
However as we are all probably well aware, the world has substantially out performed the UK. A developed world tracker (VEVE), which I hold , has returned 75.6% over the past 5 years. Will it ever change?
(Data from Hargreaves Lansdown)

[Arborbridge]

Total Return over 5 years:
Edinburgh Investment Trust 34.1%
City of London 29.0%
HSBC FTSE All Share Index Fund 29.3%
Edinburgh Investment Trust has been a bit more volatile, performing poorly over the first two years of this 5 year period, then catching up and out performing over the last 3 years. City of London has closely matched the All Share Index throughout.
My choice over the 5 years (in the UK) has been Finsbury Growth and Income Trust, which surprisingly has been less volatile, but has only achieved a total return of 20.2%.
However as we are all probably well aware, the world has substantially out performed the UK. A developed world tracker (VEVE), which I hold , has returned 75.6% over the past 5 years. Will it ever change?
(Data from Hargreaves Lansdown)

Funnily enough, I've also taken a small holding in VEV, which I may well increase. As regards my own EDIN and CTY holdings: they are both almost the same size, and since 2009 the TR is EDIN, 8.1%, CTY 7.3%. Not much between them - at least, not so much that one could have predicted back then, which one would come out of top! CTY has delivered considerably more income and that's what I need.