AMCIL Declares an Interim Dividend
- AMCIL manages a focused portfolio of high-quality companies that is expected to deliver above-market growth over the long term. Within this concentrated portfolio, large, mid and small companies can have an equally important impact on portfolio returns.
- New COVID-19 variants, resultant mobility restrictions and disrupted supply chains have made the environment challenging for many businesses. Given these uncertainties, our focus on investing in quality businesses for the long term has benefited the portfolio and places us in a relatively good position.
- The total portfolio return during this period including dividends and franking was 10.4% versus the S&P/ASX 200 Accumulation Index including franking which was up 4.6% over this period.
- The 12-month portfolio return including dividends and franking was 22.6%. The return for the S&P/ASX 200 Accumulation Index over this period including franking was 18.7%.
- Half Year Profit of $3.6 million was up from $1.9 million in the previous corresponding period. Revenue from investments increased from $2.6 million to $4.6 million, as companies increased or reinstated dividend payments because of improved trading conditions despite ongoing disruptions from the COVID-19 pandemic.
- The Board has declared an interim dividend of 1 cent per share fully franked.
- With the full year result for the financial year ending 2021 the Board announced a change in dividend policy. In summary, the change meant that AMCIL will no longer be paying out all available franking credits at the end of each financial year, as was the case under the previous policy. The change in policy provides greater flexibility in paying an interim dividend. It is expected, subject to financial performance at the time, the Company will continue to provide an interim dividend to shareholders.