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SHARE portfolio manager Flagship Investments Ltd (ASX: FSI) has rewarded shareholders with a special dividend after a strong performance from the company.
The Bundall-based Flagship Investments, which is headed by Manny Pohl, posted a 59.8 per cent lift in profit from ordinary activities to $326,000, built on a 3.4 per cent rise in revenue to $1.57 million.
Total comprehensive revenue, which combines the profit result with the change in value of the company’s portfolio, has come in at $5.6 million – down 2.2 per cent.
It was another solid performance from Flagship which saw its net asset backing surge from $1.506 a share at the end of June last year to $1.744 in the 2014 financial year.
The company is paying shareholders a fully-franked final dividend of 3.5c a share, steady with last year. An extra 0.5c a share, fully franked, is also being distributed as a special dividend.
This brings the full-year dividend to 7.25c a share, pricing Flagship Investments on a yield of 4.4 per cent.
Flagship’s returns to shareholders continue to be enhanced by its share buyback program which it renewed for another year.
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