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AMCIL Ltd (ASX:AMH) is an investment company incorporated in Australia. The Fund aims to provide total returns comprising both income & capital growth, which exceed the return of the ASX All Ordinary Index over the medium to long term. The Fund takes advantage of opportunities arising from thematic/cyclical rotations in the market, corporate activity and stock specific situations within Australia and NZ.Â
On 22 January 2019, the company has disclosed its half-yearly results for the period ended 31 December 2018, on which the limited review was performed by the companyâs auditors.
Profit for the half-year came in at $3.66 million, up 42.7% from the previous corresponding period. This was primarily on the back of the options written portfolio, which showed a net gain (realized and unrealized) of $0.9 million this period compared to a loss of $1.0 million in the previous corresponding period, plus participation in the BHP and Rio Tinto off-market buy-backs.
Revenue from investments was clocked at $4.52 million, up 9.7% from $4.12 million in the previous corresponding period. This excludes capital gains on investments.
An interim dividend of 2.0 cps, which would be fully franked (at 30%), plus a special dividend of 1.5 cents, also fully franked (at 30%) has been declared & will be paid on 22 February 2019 to ordinary shareholders on the register on 31 January 2019.
The interim dividend is partially sourced from capital gains, on which the Company has paid or will pay tax. No interim dividend was declared for the previous corresponding period.
Net tangible asset backing per share before any provision for tax on unrealized gains as at 31 December 2018 was 88 cents per share (2017: 97 cents) before any provision for the interim and special dividends.
The Companyâs Dividend Reinvestment Plan is in operation for the interim dividend, under which shareholders may elect to have all or part of their dividend payment reinvested in new ordinary shares. Pricing of the new DRP shares is based on a nil discount to the average selling price of shares traded on the ASX and Chi-X automated trading systems in the five days from the day the shares begin trading on an ex-dividend basis. The last day for the receipt of an election notice for participation in the plan is 1 February 2019.
Now let us quickly look at the companyâs stock performance over the last few months. Currently, it is trading at a price of $0.885, up by 1.724% during the dayâs trade, with a market capitalization of circa $235.60 Mn as on 22 Jan. 2019. The stock opened at $0.87, reached a day high of $0.89 & a dayâs low of $0.87. The company has produced a YTD return of 1.16% and also posted returns of -7.94%, -1.69 % and 4.82 % over the last six months, three months and one-month period respectively as on 21 January 2019. It has a 52-week high price of $0.980 and a 52-week low of $0.830, with an average volume of ~70,608.
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