CLS Holdings (CLI)

Sector:

Real Estate

Index:

FTSE 250

158.40p
   
  • Change Today:
    -3.60p
  • 52 Week High: 231.00p
  • 52 Week Low: 131.40p
  • Currency: UK Pounds
  • Shares Issued: 407.40m
  • Volume: 95,827
  • Market Cap: £645.31m
  • RiskGrade: 119

CLS trading in line with market views, updates dividend policy

By Michele Maatouk

Date: Wednesday 11 May 2022

LONDON (ShareCast) - (Sharecast News) - CLS Holdings updated its dividend policy on Wednesday as it said it continues to trade in line with market expectations.
Following the conversion of its UK business to a real estate investment trust (REIT), the FTSE 250 office space specialist said it was maintaining a progressive dividend policy, with a dividend cover of 1.2 to 1.6 times EPRA earnings, versus 1.5 to 2.0 times previously. CLS expects that FY2022 dividend cover will be around the middle of the new range.

The company also said that it continues to trade in line with market expectations.

Chief executive officer Fredrik Widlund said: "I am pleased to announce an enhancement to our dividend policy following the conversion of our UK business to a REIT, which will be applied to all future dividends until further notice.

"The board is clear that the current share price discount to NTA (net tangible assets) is unjustified given that we are in the process of disposing of a number of properties at or above 31 December 2021 valuations and the quality of our portfolio is proving resilient in a challenging macro environment. Consequently, CLS intends to undertake a tender offer following the 2022 half yearly financial results."

The terms of the tender offer will be announced after the company's half-yearly results on 10 August.

"The quantum of any tender offer will be scaled to ensure the group's loan-to-value is still within an acceptable level by the year-end," it said.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CLS Holdings Market Data

Currency UK Pounds
Share Price 158.40p
Change Today -3.60p
% Change -2.22 %
52 Week High 231.00p
52 Week Low 131.40p
Volume 95,827
Shares Issued 407.40m
Market Cap £645.31m
RiskGrade 119

CLS Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.10% above the market average67.10% above the market average67.10% above the market average67.10% above the market average67.10% above the market average
39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average39.53% above the sector average
Price Trend
49.55% below the market average49.55% below the market average49.55% below the market average49.55% below the market average49.55% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Income
60.32% above the market average60.32% above the market average60.32% above the market average60.32% above the market average60.32% above the market average
18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average
Growth
86.45% below the market average86.45% below the market average86.45% below the market average86.45% below the market average86.45% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CLS Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Sep-22 24-Mar-22
Paid 03-Oct-22 29-Apr-22
Amount 2.60p 5.35p

Trades for 01-Dec-2022

Time Volume / Share Price
13:19 4 @ 159.00p
13:19 87 @ 158.40p
13:02 5 @ 158.80p
12:56 561 @ 158.40p
12:56 100 @ 158.80p

CLS Holdings Key Personnel

CEO Fredrik Widlund
CFO Andrew Kirkman

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