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:
| NVIDIA Corporation |
7.1% |
|
| TFI International Inc. |
4.3% |
|
| Canadian Pacific Kansas City Limited |
4.3% |
|
| The Descartes Systems Group Inc. |
3.5% |
|
| WSP Global Inc. |
3.4% |
|
| Franco-Nevada Corporation |
3.3% |
|
| Apple Inc. |
3.1% |
|
| Mastercard Incorporated |
3.1% |
|
| West Fraser Timber Co. Ltd. |
3.0% |
|
| Amazon.com, Inc. |
2.7% |
|
|
|
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FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca
