Canadian General Investments: Investment Update - Unaudited
Canadian General Investments, Limited - GlobeNewswire - Fri May 3, 9:08AM CDT
TORONTO, Canada, May 03, 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 April 30, 2024 was $60.73, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 9.6% and 15.4%, respectively. These compare with the 4.7% and 8.7% 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 April 30, 2024, the leverage represented 13.8% of CGI’s net assets, down from 15.1% at the end of 2023 and 15.7% at April 30, 2023.
The closing price for CGI’s common shares at April 30, 2024 was $37.10, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 7.6% and 13.8%, respectively.
The sector weightings of CGI’s investment portfolio at market as of April 30, 2024 were as follows:
Industrials
23.2%
Information Technology
21.0%
Energy
14.3%
Financials
13.2%
Materials
11.1%
Consumer Discretionary
9.9%
Real Estate
3.9%
Cash & Cash Equivalents
1.8%
Communication Services
1.6%
The top ten investments which comprised 37.8% of the investment portfolio at market as of April 30, 2024 were as follows: