We believe the portfolio is well-positioned to withstand further volatility given the high quality of companies in the portfolio,” directors said yesterday.Glenn Dyer has been a finance journalist and TV producer for more than 40 years. Australian Foundation Investment Company. Australian Foundation Investment Company. All Rights Reserved. A special dividend of 8 cents was paid with the interim dividend in February 2019 to use up franking credits in the event the ALP won the 2019 election and changed the rules on credits.
He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey. Major additions included Goodman Group, Telstra (to bring some income into the portfolio), Macquarie Group, Cleanaway, and Sydney Airport.While there has been a reduction in the number of holdings in the portfolio over the year from 76 to 61, three new companies were added, given we consider the long term opportunity for each business to be attractive: Altium, Netwealth, and Ryman Healthcare.Major sales included the complete disposal of holdings in Treasury Wine Estates, Suncorp Group, Scentre Group, Adelaide Brighton, and Perpetual, as these funds were deployed elsewhere in the portfolio. There was also some small trimming of the position in James Hardie Industries, although this remains a major holding in the portfolio.Looking to the coming year directors are obviously worried about high prices and stretched valuations given the high level of uncertainty.“As we move into the new financial year, the outlook remains unclear as companies face an extremely difficult operating environment. Here are the key points.The Woodside Petroleum Limited (ASX: WPL) share price is edging lower today after the oil and gas company handed down its half-year FY20 results.In the most recent episode of The Australian Investors Podcast, Collins St Value Fund co-founder and portfolio manager Michael Goldberg joined Owen Rask for a talk about value investing, being contrarian, backing yourself and knowing when not to. This included participation in the recent deeply discounted capital raisings that have occurred.A number of purchases were undertaken during the year. Next Dividend 9/1/2020
Drawing upon these reserves, the final dividend was maintained at 14 cents per share fully franked despite the fall in income in the second half,” directors told the ASX in a statement.Looking at the year it was dominated by the COVID-19 pandemic in the final five months to June 30.“Economic conditions have been extremely challenging for many businesses, as the fallout from the COVID-19 outbreak negatively impacts many Australians,” directors said.“Equity markets have also been very volatile following the all-time highs reached in late February, as governments and central banks try and respond to deteriorating conditions and control of the virus remains uncertain.”During the period, AFIC continued to adjust the portfolio and took advantage of the decline in share prices to increase holdings in companies it wanted to own more of. The information contained in this website and video presentations is of general nature. AFIC announced it would pay the special dividend of 8¢ per share on top of its interim dividend of 10¢ per share on February 25. However, it has underperformed the index over the past five years and ten years.Some of the companies that helped performance in FY20 were: Some of the biggest acquisitions during the period were: Last year a special dividend of 8 cents per share was paid, but there was no special dividend this year.In FY20 the LIC generated 19.88 cents of earnings per share (EPS), so AFIC paid out more than 100% of its profit as a dividend.AFIC had a management expense ratio (MER) of 0.13% for FY20, the same as last year. AFIC announced a fully-franked final dividend of 14 cents per share. Australian Foundation Investment Company posted a 39.1% fall in interim profit but will pay a steady dividend of 10 cents a security. AFIC rushes out special dividend ahead of ALP franking credit shake-up. If you’re an AFIC shareholder, it’s optional to participate in the DRP. Here’s my take on AGL’s report.At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned. Alternatively, AFIC shareholders can elect to reinvest these dividends through our Dividend Reinvestment Plan (DRP) or Dividend Substitution Share Plan (DSSP). Company Profile: Industry Group: Not Applic. Final Dividend Ex-Date: Wednesday 12 August 2020: Record date: Thursday 13 August 2020: Last election date for Dividend Reinvestment Plan / Dividend Substitution Share Plan: Tuesday 1 September 2020: Payment Date: Tuesday 18 August 2020: Closing date for receipt of nominations for the AFIC … AFIC dividend As you’ve probably guessed, AFIC maintained its interim dividend at $0.10 per share. Listed investment company (LIC) AFIC has announced that its net profit was $240.4 million, down 40.8% from the prior year.AFIC said that economic conditions have been extremely challenging for many of its share holdings because of COVID-19 impacts. AFIC’s Board declined a final fully franked dividend of 14 cents per share, the same as last year’s final dividend. It’s one of the cheapest ASX investment options on the ASX.The LIC reported that at the end of June 2020 its pre-tax net tangible assets (NTA), before allowing for the dividend, was $5.96. The multi-billion-dollar capital returns and special dividends from Rio Tinto and BHP also added to the pressure on some LICs such as AFIC to return surplus funds to their investors. pays out 92.31% of its earnings out as a dividend. All rights reserved.Perpetual Bets Big On “Transformational” US Expansion AFIC’s Board declined a final fully franked dividend of 14 cents per share, the same as last year’s final dividend. It has been prepared without taking account of your individual objectives, financial situation or particular needs. It has been prepared without taking account of your individual objectives, financial situation or particular needs.
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