15 Jul 2015
AuM stable in Q4, FY15 PBT lower than expected on fee income
CLIG has maintained AuM at $4.2bn during Q4 and has reported that full year PBT will be £0.9m lower than our estimate. The update reiterates the board’s intention to pay a 16p final dividend bringing the full year payout to 24p (1.1x covered). We will review our forecasts in light of the earnings miss. We expect the dividend to be maintained, which provides a strong yield at the current price – the 16p dividend in isolation represents a 5% yield. Additional mandate wins would provide additional ....
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AuM stable in Q4, FY15 PBT lower than expected on fee income
City of London Investment Group PLC (CLIG:LON) | 315 0 0.0% | Mkt Cap: 159.6m
- Published:
15 Jul 2015 -
Author:
Andrew Watson -
Pages:
3
CLIG has maintained AuM at $4.2bn during Q4 and has reported that full year PBT will be £0.9m lower than our estimate. The update reiterates the board’s intention to pay a 16p final dividend bringing the full year payout to 24p (1.1x covered). We will review our forecasts in light of the earnings miss. We expect the dividend to be maintained, which provides a strong yield at the current price – the 16p dividend in isolation represents a 5% yield. Additional mandate wins would provide additional ....