TORONTO, Canada, April 06, 2021 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (CGI) (TSX: CGI, CGI.PR.D) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at March 31, 2021 was $52.19, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 4.8% and 94.3%, respectively. These compare with the 8.1% and 44.2% 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 preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at March 31, 2021, the combined leverage afforded by both forms of leverage represented 16.1% of CGI’s net assets, down from 16.8% at the end of 2020 and 30.6% at March 31, 2020.
The worldwide spread of novel coronavirus (COVID-19) and its impact on such factors as business operations, supply chains, travel, commodity prices and consumer confidence, and the associated impact on domestic and international equity markets and fixed income yields, is expected to continue to have a significant influence on the equity markets and could significantly impact the value of investments held by CGI. Morgan Meighen & Associates Limited, the manager of the Company, will maintain its consistent, steady, long-term approach of holding diversified, appropriate investments, while pursuing selective new opportunities.
The closing price for CGI’s common shares at March 31, 2021 was $35.99, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.0% and 89.9%, respectively.
The sector weightings of CGI’s investment portfolio at market as of March 31, 2021 were as follows:
Information Technology
26.6
%
Industrials
22.7
%
Materials
16.4
%
Consumer Discretionary
11.8
%
Financials
10.3
%
Energy
4.7
%
Real Estate
3.6
%
Communication Services
2.0
%
Health Care
1.3
%
Cash & Cash Equivalents
0.6
%
The top ten investments which comprised 36.7% of the investment portfolio at market as of March 31, 2021 were as follows:
Shopify Inc.
6.9
%
Canadian Pacific Railway Limited
4.4
%
West Fraser Timber Co. Ltd.
3.6
%
Franco-Nevada Corporation
3.6
%
First Quantum Minerals Ltd.
3.4
%
NVIDIA Corporation
3.3
%
Amazon.com, Inc.
3.1
%
Lightspeed POS Inc.
2.9
%
Mastercard Incorporated
2.8
%
Square, Inc.
2.7
%
FOR FURTHER INFORMATION PLEASE CONTACT: Canadian General Investments, Limited Jonathan A. Morgan President and CEO Phone: (416) 366-2931 Fax: (416) 366-2729 e-mail: cgifund@mmainvestments.com
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
