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monabri wrote:Half Year Report
https://www.investegate.co.uk/chesnara- ... 00028122J/
3% INCREASE IN INTERIM DIVIDEND
The board have approved an interim dividend of 7.88p per share (2020 interim: 7.65p per share) - an increase of 3%. This constitutes the 17th consecutive annual dividend increase for shareholders.
XD: 9th September 21
Pay: 22nd October 21
Stan wrote:monabri wrote:Half Year Report
https://www.investegate.co.uk/chesnara- ... 00028122J/
3% INCREASE IN INTERIM DIVIDEND
The board have approved an interim dividend of 7.88p per share (2020 interim: 7.65p per share) - an increase of 3%. This constitutes the 17th consecutive annual dividend increase for shareholders.
XD: 9th September 21
Pay: 22nd October 21
Always struck me as a very safe Company in terms of capital gain and dividends over the years.
· Commercial cash(1) generation of £53.0m in 2021 (2020: £27.7m) represents 156% dividend coverage.
· 2021 cash generation includes c£23m as a direct result of management actions.
· The results during the year, combined with balance sheet strength and the financial outlook, support a further year of dividend growth. The Board is recommending a 2021 final dividend of 14.7p per share (2021 total dividend of 22.6p), which is a 3% increase compared to 2020 and extends the period of uninterrupted dividend growth to 17 years.
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· Economic value earnings before FX of £57.8m (2020: £(37.6)m) more than covers the annual dividend.
· Two notable acquisitions were announced during the year: one in the UK and one in the Netherlands. Post completion of these deals, pro forma results deliver growth in both Funds Under Management (41% increase(4) to £12.3bn) and policies in force (8% increase to 967,000) compared to the end of 2020. Increased scale will enhance operational efficiency and increase the longevity of the business model.
Dod101 wrote:But the share price has gone nowhere for a long while, like most financials. The dividend increase is well below inflation for the year. I hold but am not very impressed.
Dod
vand wrote:Dod101 wrote:But the share price has gone nowhere for a long while, like most financials. The dividend increase is well below inflation for the year. I hold but am not very impressed.
Dod
Yes, the cashflows to the stockholders are mainly through the dividend payout. That said, even despite the last few years, the shareprice has still managed to triple over 20 years, so the capital value alone has appreciated in real terms for very long term holders, which added with the dividends would have resulted in decent total real returns.
Expecting your dividend payouts to beat inflation every year is unrealistic, but a progressive dividend policy is sensible. It's not their fault that inflation is so high at the moment. I'm pretty happy with 3% increase.
Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
vrdiver wrote:Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
I guess it's a matter of pot luck. I bought in April 2007 (£1.79), topped up in August 2013 (£2.61) and again in December 2016 (£3.00) and have a total return of 164%, or 11.1% annual compound return (XIRR). Dividends received represent 119% of my total purchase costs.
The share price at £2.90 yesterday, or £3.10 as I type, makes the 2016 purchase look a bit of an error, but overall I'm happy to keep holding.
VRD
vrdiver wrote:Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
I guess it's a matter of pot luck. I bought in April 2007 (£1.79), topped up in August 2013 (£2.61) and again in December 2016 (£3.00) and have a total return of 164%, or 11.1% annual compound return (XIRR). Dividends received represent 119% of my total purchase costs.
The share price at £2.90 yesterday, or £3.10 as I type, makes the 2016 purchase look a bit of an error, but overall I'm happy to keep holding.
VRD
vand wrote:vrdiver wrote:Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
I guess it's a matter of pot luck. I bought in April 2007 (£1.79), topped up in August 2013 (£2.61) and again in December 2016 (£3.00) and have a total return of 164%, or 11.1% annual compound return (XIRR). Dividends received represent 119% of my total purchase costs.
The share price at £2.90 yesterday, or £3.10 as I type, makes the 2016 purchase look a bit of an error, but overall I'm happy to keep holding.
VRD
I agree, the longer term returns have been pretty good - 10.3% annualised over 10yrs according to Morningstar handily beats a FTSE tracker by a substantial margin.
But we all know that returns can be lumpy, and if you get in at the wrong time it can be a long time before you numbers match the long term.
5yr return is nowhere near as good at 2.57% annualised.
OTOH, 1yr return is 14.37%.
The same is true of any security. The price you buy it at matters.
One of my favourite investing quotes from Howards Marks: "Good investing is not about buying good things.. it is about buying things well."
XFool wrote:vand wrote:vrdiver wrote:Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
I guess it's a matter of pot luck. I bought in April 2007 (£1.79), topped up in August 2013 (£2.61) and again in December 2016 (£3.00) and have a total return of 164%, or 11.1% annual compound return (XIRR). Dividends received represent 119% of my total purchase costs.
The share price at £2.90 yesterday, or £3.10 as I type, makes the 2016 purchase look a bit of an error, but overall I'm happy to keep holding.
VRD
I agree, the longer term returns have been pretty good - 10.3% annualised over 10yrs according to Morningstar handily beats a FTSE tracker by a substantial margin.
But we all know that returns can be lumpy, and if you get in at the wrong time it can be a long time before you numbers match the long term.
5yr return is nowhere near as good at 2.57% annualised.
OTOH, 1yr return is 14.37%.
The same is true of any security. The price you buy it at matters.
One of my favourite investing quotes from Howards Marks: "Good investing is not about buying good things.. it is about buying things well."
So, to put it another way: Timing matters!
Discuss.
XFool wrote:vand wrote:vrdiver wrote:Dod101 wrote:I bought in September 2014 at £3.462. Today £3.10. At my stage in life I am happy to collect the dividend but it is a hopeless investment from a capital value point of view.
I guess it's a matter of pot luck. I bought in April 2007 (£1.79), topped up in August 2013 (£2.61) and again in December 2016 (£3.00) and have a total return of 164%, or 11.1% annual compound return (XIRR). Dividends received represent 119% of my total purchase costs.
The share price at £2.90 yesterday, or £3.10 as I type, makes the 2016 purchase look a bit of an error, but overall I'm happy to keep holding.
VRD
I agree, the longer term returns have been pretty good - 10.3% annualised over 10yrs according to Morningstar handily beats a FTSE tracker by a substantial margin.
But we all know that returns can be lumpy, and if you get in at the wrong time it can be a long time before you numbers match the long term.
5yr return is nowhere near as good at 2.57% annualised.
OTOH, 1yr return is 14.37%.
The same is true of any security. The price you buy it at matters.
One of my favourite investing quotes from Howards Marks: "Good investing is not about buying good things.. it is about buying things well."
So, to put it another way: Timing matters!
Discuss.
ayshfm1 wrote:Interim divi 8.1p up 3% paid 21st October.