Edison issues review on Canadian General Inv.

RNS Number : 1328M

Canadian General Investments Ld

25 April 2018

 

London, UK, 25 April 2018

Edison issues review on Canadian General Investments (CGI)

Canadian General Investments (CGI) is a Canadian investment corporation, providing investors with a broad exposure to primarily Canadian, but also selected US, equities. Manager Greg Eckel suggests the company may be considered a 'one-stop shop' for investment in Canada. CGI has a positive investment track record; it has outperformed its benchmark S&P/TSX Composite index over one, three, five and 10 years, and over much longer time periods. More recent performance has benefited from a repositioning of the portfolio at the beginning of 2016, which included increasing the materials exposure. Total annual distributions have remained stable for the last six years, but the manager is hopeful that annual dividends can increase in the future. CGI has a dividend yield of 3.4% (including a 4c special dividend).

CGI's current 30.1% discount to NAV is broadly similar to the averages of the last one, three and five years (range of 28.1% to 28.8%). The wide discount may be a result of the company's relatively low level of liquidity due to its majority insider ownership, or the high level of gearing. Due to CGI's favourable tax status as a Canadian investment corporation, the board is unable to repurchase shares to help manage the discount. In recent years, there has been more emphasis on regular quarterly rather than year-end special dividends; CGI's dividend yield is 3.4%. 

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Mel Jenner, [phone]

Sarah Godfrey, [phone]

[e-mail]

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn        https://www.linkedin.com/company/edison-investment-research 

Twitter           www.twitter.com/Edison_Inv_Res 

YouTube       www.youtube.com/edisonitv 

 

END

 

 

NRAEELFLVZFXBBF