Canadian General Investments: Investment Update - Unaudited

Tuesday, August 6, 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 July 31, 2024 was $65.46 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.6% and 14.7%, respectively. These compare with the 12.3% and 15.7% 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 July 31, 2024, the leverage represented 12.8% of CGI’s net assets, down from 15.1% at the end of 2023 and 14.5% at July 31, 2023.
 
The closing price for CGI’s common shares at July 31, 2024 was $40.50, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 18.2% and 14.3%, respectively.
 
The sector weightings of CGI’s investment portfolio at market as of July 31, 2024 were as follows:
 

Industrials

22.5%

Information Technology

21.6%

Financials

13.2%

Energy

13.0%

Materials

12.2%

Consumer Discretionary

10.0%

Real Estate

4.2%

Cash & Cash Equivalents

1.8%

Communication Services

1.5%

The top ten investments which comprised 39.1% of the investment portfolio at market as of July 31, 2024 were as follows:

NVIDIA Corporation

6.8%

TFI International Inc.

4.8%

Canadian Pacific Kansas City Limited

4.3%

Apple Inc.

3.8%

The Descartes Systems Group Inc.

3.6%

WSP Global Inc.

3.5%

Franco-Nevada Corporation

3.3%

West Fraser Timber Co. Ltd.

3.3%

Mastercard Incorporated

3.0%

Amazon.com, Inc.

2.7%
 
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729