Law Debenture Corp PLC Edison issues review on The Law Debenture Corp
26 Febbraio 2021 - 05:57PM
RNS Non-Regulatory
TIDMLWDB
Law Debenture Corp PLC
26 February 2021
London, UK, 26 February 2021
Edison issues review on The Law Debenture Corporation (LWDB)
The Law Debenture Corporation (LWDB) made the most of its
structure in 2020, with the revenue contribution from its
independent professional services (IPS) business - which saw
another year of strong growth - helping to overcome a shortfall in
portfolio income after widespread UK dividend cuts, and driving an
unanticipated 5.8% increase in the total FY20 payout. NAV total
returns for the year ended 31 December were modestly positive,
compared with double-digit declines for many UK Equity Income
peers. The diversity of the underlying IPS businesses means CEO
Denis Jackson is sanguine about prospects even in uncertain market
conditions, while fund managers James Henderson and Laura Foll will
continue to capitalise on the investment freedom the IPS income
contribution provides.
Having historically traded at a c 5-15% discount, LWDB re-rated
substantially in FY20, perhaps as investors began to recognise the
value of the differentiated proposition. At 25 February 2021, the
shares traded at a 2.8% premium to adjusted cum-income NAV (with
both debt and IPS at fair value) and had a yield of 3.8%.
Click here to view the full report or here to sign up to receive research as it is published.
All reports published by Edison are available to download free
of charge from its website
www.edisongroup.com
About Edison: E dison is a leading research and investor
relations consultancy, connecting listed companies to the widest
pool of global investors. By focusing on the volume and quality of
investors reached - across institutions, family offices, wealth
managers and retail investors - Edison can create and gauge intent
to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual
meetings.
Having been the first in-market 17 years ago, Edison now has
more than 100 analysts covering every economic sector.
Headquartered in London, Edison also has offices in New York,
Frankfurt, Amsterdam and Tel Aviv and a presence in Athens,
Johannesburg and Sydney.
Edison is authorised and regulated by the Financial Conduct
Authority .
Edison is not an adviser or broker-dealer and does not provide
investment advice. Edison's reports are not solicitations to buy or
sell any securities.
For more information, please contact Edison:
Sarah Godfrey +44 (0)20 3681 2519
investmenttrusts@edisongroup.com
Mel Jenner +44 (0)20 3077 5720 investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-group-/
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAFLFERFEIRFIL
(END) Dow Jones Newswires
February 26, 2021 11:57 ET (16:57 GMT)
Grafico Azioni Law Debenture (LSE:LWDB)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Law Debenture (LSE:LWDB)
Storico
Da Mar 2023 a Mar 2024