Canadian General Investments: Investment Update - Unaudited
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TORONTO, Canada, July 04, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at June 30, 2024 was $62.50, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.3% and 14.2%, respectively. These compare with the 6.1% and 12.1% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at June 30, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and at June 30, 2023.
The closing price for CGI’s common shares at June 30, 2024 was $35.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.8% and 6.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of June 30, 2024 were as follows:
| Industrials | 22.2 | % |
| Information Technology | 21.8 | % |
| Financials | 12.9 | % |
| Energy | 12.8 | % |
| Materials | 11.5 | % |
| Consumer Discretionary | 10.0 | % |
| Real Estate | 3.8 | % |
| Cash & Cash Equivalents | 3.5 | % |
| Communication Services | 1.5 | % |
The top ten investments which comprised 39.5% of the investment portfolio at market as of June 30, 2024 were as follows:
| NVIDIA Corporation | 7.4 | % |
| TFI International Inc. | 4.7 | % |
| Canadian Pacific Kansas City Limited | 4.2 | % |
| Apple Inc. | 3.7 | % |
| The Descartes Systems 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 Incorporated | 2.9 | % |
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: [email protected]
website: www.canadiangeneralinvestments.ca
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