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
