Bouleversee wrote:Have you had a look at Tate and Lyle recently, Arb? It seems to be on a bit of a roll following a fallow period and has increased dividends by around 2.5% in each of the past 2 years. What do you think, TJH? I know you also hold.
I have held TATE since 1999, first bought at 392p. Added to in 2000 at 269p, in 2001 at 247p and in 2002 at 352p. In October 2002 it went overweight at 361p and I sold 20%.In 2003 I added more when underweight at 347p then, come 2006, I was overweight again and trimmed on two occasions, in February at 595p and in December at 813p. Became underweight again and topped up in 2007 at 560p and in 2009 at 300p. Now in 2011 it went overweight again and I trimmed back by one-third at 647p. Two more top-ups, in 2014 at 697p and in 2015 at 517p. As you can see there have been ups and downs along the way.
The dividend at the starting price was 21.4p, or 5.5%, but that was complicated by a year end change. 17.8p is a better figure to use as a benchmark. There have been a few years when the dividend has been held, but never cut. Currently it is 29.6p (Final plus interim) and the yield is 4.0% at the price of about 740p. As has been said above, slightly below the market. My IRR has been 13.0%, but on a single share it would have been 3.15% held from the start.
It has done well for me, by taking advantage of the contrarian movements. It has been over 800p on three occasions - 2006, 2013 and 2017.
TJH