Edison review on Canadian General Investments

RNS Number : 1739M

Canadian General Investments Ld

06 May 2020

 

London, UK, 6 May 2020

Edison issues review on Canadian General Investments (CGI)

Canadian General Investments (CGI) is managed by Greg Eckel at Morgan Meighen & Associates. He stresses that despite the tough macro backdrop as a result of the coronavirus pandemic, he is sticking to the company's philosophy and fundamental investment process, which has generated a very long-term record of outperformance versus the Canadian market. The manager says: 'We will not veer off into unknown, dangerous territories and away from our core, proven strengths. It is easy to fall victim to near-term pressures, but doing so has proven to handicap and impair returns otherwise available. We rely on our experience and learnings of the past in an effort to avoid such pitfalls, and make every effort to provide our shareholders with the results to which they have become accustomed.'

CGI's shares are currently trading at a 31.1% discount to NAV, which is broadly in line with the 30.6%, 29.6%, 29.1% and 27.7% average discounts over the last one, three, five and 10 years, respectively. The company has moved away from paying special as well as regular quarterly dividends, and in FY19 the total distribution increased by 5.3% year-on-year. Based on its current share price, CGI offers a 3.6% dividend yield. 

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