FLAGSHIP'S REWARD FOR A BIG YEAR

FLAGSHIP'S REWARD FOR A BIG YEAR

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.

The value of Flagship’s investment portfolio surged 26.2 per cent to $42.4 million over the year. This compared with a rise of 12.7 per cent in the All Ordinaries Index over the 2014 financial year.

Flagship’s returns to shareholders continue to be enhanced by its share buyback program which it renewed for another year.

Get our daily business news

Sign up to our free email news updates.

 
Whitefox Recruitment founder Luke Hemmings making strides as a careers leader
Partner Content
After relocating his Canberra-founded company Whitefox Recruitment to the Gold Coast la...
Whitefox Recruitment
Advertisement

Related Stories

ASIC secures its first court win for greenwashing against US giant Vanguard

ASIC secures its first court win for greenwashing against US giant Vanguard

The Australian corporate watchdog has caught out one of the world&r...

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Medicinal cannabis group Althea shaves $1.5m from its cost base through staff cutbacks

Australian-founded medicinal cannabis company Althea Group (ASX: AG...

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Charter Hall snares 15pc stake in Hotel Property Investments for $97m from 360 Capital

Listed funds manager 360 Capital Group (ASX: TGP) has offloaded its...

The party’s over: Splendour in the Grass festival cancelled for 2024

The party’s over: Splendour in the Grass festival cancelled for 2024

Splendour in the Grass, Australia’s largest winter music fest...