The Lemon Fool

http://www.investegate.co.uk/murray-int ... 032Z/?fe=1

NB..............

Dividends and Dividend Policy

Three interim dividends of 10.5p per share (2015: three interims of 10.5p) have been declared during the year. Your Board is now recommending a final dividend of 16.0p (2015: 15.0p) which, subject to the approval of shareholders at the Annual General Meeting, will be paid on 16 May 2017 to shareholders on the register on 7 April 2017. If approved, the total Ordinary dividends for the year will amount to 47.5p, an increase of 2.2% from last year (2015: 46.5p). After accounting for the payment of the final dividend, the surplus revenue of approximately £4.85 million will be transferred to the Company's brought forward revenue reserves.

Bruce is not pulling any punches:

'Should future generations ever search for the seminal moment in economic history where so many supposedly intelligent people masquerading as Central Bankers and their financial market cheerleaders descended to the depths of discredited stupidity then 13 July 2016 will be as good as any.

For on this day Germany issued a ten year Bund with no coupon. An income investment with no income. To emphasise this particular hideous distortion from numerous others which have polluted financial markets over the past five years is not an attempt to rank its significance.

It serves only to highlight just how incredibly far the world has shifted from economic orthodoxy when savers expected, and were entitled to, a return on their savings. The tangled web woven around spiralling debts, insolvent banks, unsustainable deficits, mis-allocated capital and erosion of real wealth exists only to distort and deceive. When such disrespect of real capital value exists, in what can we trust?'

argoal wrote:Bruce is not pulling any punches:

'Should future generations ever search for the seminal moment in economic history where so many supposedly intelligent people masquerading as Central Bankers and their financial market cheerleaders descended to the depths of discredited stupidity then 13 July 2016 will be as good as any.

For on this day Germany issued a ten year Bund with no coupon. An income investment with no income. To emphasise this particular hideous distortion from numerous others which have polluted financial markets over the past five years is not an attempt to rank its significance.

It serves only to highlight just how incredibly far the world has shifted from economic orthodoxy when savers expected, and were entitled to, a return on their savings. The tangled web woven around spiralling debts, insolvent banks, unsustainable deficits, mis-allocated capital and erosion of real wealth exists only to distort and deceive. When such disrespect of real capital value exists, in what can we trust?'

I've been a fan of Mr. Stout for some time and I'm happy to hold MYI for the long term. I enjoyed this 2015 interview courtesy of Moneyweek, he didn't pull any punches then either!

http://moneyweek.com/bruce-stout-interview/

RC

Murray International is 15% of my SIPP and 18% of my dividend growth portfolio.

Best wishes

Mark.

My SIPP and ISA bought(*) MYI two months ago - very pleased so far.


(*) Wording it like this, a fund manager's lingo as I have recently unitised and the fund is selling and buying units from now on, not me