Milton Corporation Limited (ASX: MLT)
Milton Corporation Limited is a financial sector company that majorly invests for a long-term in companies and trusts that are listed on the Australian Securities Exchange (ASX). The composition of its equity portfolio reflects the emphasis Milton has always placed on investing in well managed companies that have a profitable history and are expected to grow dividends over time.
MLT’s total assets stood at $3.2 billion as at 30 April 2019.
Image: Asset Portfolio of Milton (Source: Company’s Report)
As per the latest update, Milton’s Net Tangible Asset (NTA) per share stood at $4.74 before tax and $4.17 after tax for the month ended 30 April 2019. The company also achieved a MER of 13 basis points on the back of efficient internal management structure.
Milton has maintained a long track record of paying fully franked dividends, which are predominantly funded by the dividends received from its equity investment portfolio.
With this impression, Milton announced 2.5cps fully franked special dividend for FY19 following the last special dividend paid in 2015. It comes in addition to the interim dividend of 9.0 cps declared for the first half of Fiscal 2019.
Image: Dividend History of Milton (Source: Company’s Report)
Stock Performance: MLT stock price has edged up by 0.223% to last trade at $4.490 on 17 May 2019. Over the past 12 months, the stock price has dipped 2.69% despite an upside of 2.40% in the past three months.
Future Generation Investment Company Limited (ASX: FGX)
Future Generation Investment Company is an ASX-listed investment company that focuses on offering long-term capital growth to its shareholders by diversifying its exposure to global equities.
In April 2019, the FGX investment portfolio increased 3.0% outperforming the S&P/ASX All Ordinaries Accumulation Index which rose 2.5% for the month. Since inception, its investment portfolio has increased 9.1% per annum, outperforming the benchmark by 1.7%.
Image: NTA Figures as at 30 April 2019 (Source: Company’s Report)
This reflects FGX pre-tax net tangible asset of $1.21 per share as at 30 April 2019. The company’s investment decision are driven by its objectives to provide an increasing stream of fully franked dividends, achieve capital growth and preserve shareholder capital.
Image (Source: Company’s Report)
On dividend front, the company has paid full year fully franked dividend of 4.6 cents per share for FY2018. Since inception, FGX has paid 17.1 cents per share in fully franked dividends to shareholders.
The company informed that eight of Future Generation’s domestic and global fund managers will present their best stock picks at the Future Generation Investment Forum scheduled for 23 May 2019.
Looking forward, the company eyes high-volatility in the market which would be extremely sensitive to changes in interest rate expectations. It stated that there could be periodic sell-offs as one observed in the December quarter of 2018.
Stock Performance: FGX stock price last traded at $1.180, up 2.609%, on 17 May 2019. The stock has witnessed a negative performance change of 8.00% over the past 12 months including a dip of 3.36% recorded in the last three months.
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