Canadian General Investments: Investment Update - Unaudited

Wednesday, April 3, 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 March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively. These compare with the 6.6% and 14.0% 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 March 31, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.0% at March 31, 2023.
 
The closing price for CGI’s common shares at March 31, 2024 was $37.69, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 9.3% and 17.3%, respectively.
 
The sector weightings of CGI’s investment portfolio at market as of March 31, 2024 were as follows:
 

Industrials

24.7%

Information Technology

21.0%

Energy

13.5%

Financials

13.0%

Materials

10.6%

Consumer Discretionary

9.6%

Real Estate

4.2%

Cash & Cash Equivalents

1.8%

Communication Services

1.6%

The top ten investments which comprised 39.0% of the investment portfolio at market as of March 31, 2024 were as follows:

NVIDIA Corporation

7.1%

TFI International Inc.

5.1%

Canadian Pacific Kansas City Limited

4.6%

WSP Global Inc.

3.6%

The Descartes Systems Group Inc.

3.3%

West Fraser Timber Co. Ltd.

3.3%

Mastercard Incorporated

3.2%

Franco-Nevada Corporation

3.1%

Apple Inc.

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