Canadian General Investments: Investment Update - Unaudited

Thursday, July 4, 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 June 30, 2024 was $62.50, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.3% and 14.2%, respectively. These compare with the 6.1% and 12.1% 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 June 30, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and at June 30, 2023.
 
The closing price for CGI’s common shares at June 30, 2024 was $35.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.8% and 6.1%, respectively.
 
The sector weightings of CGI’s investment portfolio at market as of June 30, 2024 were as follows:
 

Industrials

22.2%

Information Technology

21.8%

Financials

12.9%

Energy

12.8%

Materials

11.5%

Consumer Discretionary

10.0%

Real Estate

3.8%

Cash & Cash Equivalents

3.5%

Communication Services

1.5%

The top ten investments which comprised 39.5% of the investment portfolio at market as of June 30, 2024 were as follows:

NVIDIA Corporation

7.4%

TFI International Inc.

4.7%

Canadian Pacific Kansas City Limited

4.2%

Apple Inc.

3.7%

The Descartes Systems Group Inc.

3.6%

Cash

3.5%

WSP Global Inc.

3.4%

Franco-Nevada Corporation

3.2%

West Fraser Timber Co. Ltd.

2.9%

Mastercard Incorporated

2.9%
 
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729