HARDMAN & CO RESEARCH Hardman & Co Research: City of London Investment Group (CLIG): Strong markets and merger support dividend hike
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Hardman & Co Research
Hardman & Co Research: Strong markets and merger support dividend hike City of London has announced a trading statement covering its second-quarter FUM and first-half financial performance. These are excellent, even allowing for the boost that the Karpus transaction has given. The highlight for many investors will be the interim dividend increase to 11p (from 10p in 2020), with strong profit progress and an increased cash balance of £17.5m underpinning future dividend prospects. Estimated pre-tax and pre-amortisation profit for the half-year is estimated at £9.9m, a 60% increase over the 2020 figure. Exceptional transaction costs of £1.7m give an underlying figure of £11.6m. Please click on the link below for the full report: If you are interested in meeting the company, you can register your interest by clicking on the above link
Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.
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1162699 22-Jan-2021