Canadian General Investments: Investment Update - Unaudited

Wednesday, June 5, 2024
 
NEWS RELEASE TRANSMITTED BY GLOBENEWSWIRE
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
 
Canadian General Investments: Investment Update - Unaudited
 
TORONTO, CANADA – Canadian General Investments, Limited (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