TORONTO, July 04, 2024 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) reported, on an unaudited basis, a net asset value (NAV) per share of $62.50 as at June 30, 2024, and year-to-date and trailing twelve month NAV returns after dividends reinvested of 13.3% and 14.2%, respectively. This compares to returns of 6.1% and 12.1% for the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The Company employs a leverage strategy through bank borrowings with the objective of enhancing returns to common shareholders. As of June 30, 2024, leverage represents 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and as of June 30, 2023.
The closing price of CGI common stock on June 30, 2024 was $35.91, representing year-to-date and trailing 12-month price returns with dividends reinvested of 4.8% and 6.1%, respectively.
As of June 30, 2024, the sector composition of CGI’s investment portfolio is as follows:
| industry | 22.2 | % |
| information technology | 21.8 | % |
| Finance | 12.9 | % |
| energy | 12.8 | % |
| material | 11.5 | % |
| Consumer discretionary goods | 10.0 | % |
| real estate | 3.8 | % |
| Cash and cash equivalents | 3.5 | % |
| Communication Services | 1.5 | % |
The top 10 investments, accounting for 39.5% of the market investment portfolio as of June 30, 2024, are:
| NVIDIA Corporation | 7.4 | % |
| TFI International Inc. | 4.7 | % |
| Canadian Pacific Kansas City Limited | 4.2 | % |
| Apple. | 3.7 | % |
| Descartes System Group, Inc. | 3.6 | % |
| cash | 3.5 | % |
| WSP Global Inc. | 3.4 | % |
| Franco-Nevada Corporation | 3.2 | % |
| West Fraser Timber Co., Ltd. | 2.9 | % |
| MasterCard Japan Co., Ltd. | 2.9 | % |
For further information, please contact:
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
Email: cgifund@mmainvestments.com
Website: Canada
