Canadian General Investments: Investment Update –

Canadian General Investments: Investment Update –

TORONTO, Canada, June 05, 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 May 31, 2024 was $61.97, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 12.3% and 20.7%, respectively. These compare with the 7.6% and 17.6% 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 May 31, 2024, the leverage represented 13.5% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.1% at May 31, 2023.

The closing price for CGI’s common shares at May 31, 2024 was $37.25, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.7% and 15.1%, respectively.

The sector weightings of CGI’s investment portfolio at market as of May 31, 2024 were as follows:

  Industrials 22.1%  
  Information Technology 21.7%  
  Energy 15.1%  
  Financials 13.2%  
  Materials 11.2%  
  Consumer Discretionary 9.7%  
  Real Estate 3.8%  
  Communication Services 1.6%  
  Cash & Cash Equivalents 1.6%  
       

The top ten investments which comprised 38.9% of the investment portfolio at market as of May 31, 2024 were as follows:

  NVIDIA Corporation 8.2%  
  TFI International Inc. 4.3%  
  Canadian Pacific Kansas City Limited 4.2%  
  Apple Inc. 3.4%  
  The Descartes Systems Group Inc. 3.4%  
  Franco-Nevada Corporation 3.3%  
  WSP Global Inc. 3.3%  
  West Fraser Timber Co. Ltd. 3.1%  
  Mastercard Incorporated 3.0%  
  Dollarama Inc. 2.7%  
       

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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