Bell Potter LIC Weekly: Bailador Maiden Special Dividend With DRP

Bailador maiden special dividend with DRP

Bailador Technology Investments Ltd (BTI) has announced its first special fully franked dividend of 2.5cps will be paid on 26 March 2020. BTI will trade ex-dividend on 4 March 2020. The payment of the Company’s maiden dividend is the result of recent cash realisations in two of BTI’s core portfolio holdings, SiteMinder and Straker Translations (STG).

ALF buy-back – ability to tender up to 20%

Australian Leaders Fund Ltd’s (ALF) off-market buy-back is now open. Eligible shareholders will be entitled to tender up to 20% of shares held on the record date (7 February 2020). The buy-back, which was approved by shareholders at the Company’s November 2019 AGM, will be priced using the after tax NTA on 31 January 2020, net of expenses and any deferred tax assets on the balance sheet at the time.

Bell Potter’s Indicative NTA tracks the ‘indicative’ movement of a LIC’s underlying NTA each month by monitoring the percentage movements of the disclosed holdings and using an index to track the movement of the remaining positions. The Indicative NTA works best with LICs that have a high percentage of investments concentrated in its Top 20, regular disclosure of its Top 20, lower turnover of investments, regular disclosure of its cash position and the absence of a performance fee. We have also included an adjusted indicative NTA^ and adjusted discount^ that removes the LIC distribution from the ex-dividend date until the receipt of the new NTA post the payment date.

For full details refer to the detailed report below or click here to download your copy.

William Gormly

About William Gormly

William Gormly is an ETF/LIC Specialist at Bell Potter Securities. Will provides comprehensive coverage of the ETF and LIC sectors, producing a range of highly regarded reports covering investment fundamentals, asset class structure and cost, and the role of managed investments in portfolios.

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