Caledonia Investments unveils special dividend as net assets rise to an all time high
Caledonia Investments has reported a 25.1 per cent boost in net assets this year, rising to an all-time high of £2.78bn.
It has also enjoyed a total return in net-asset value of 27.9 per cent, and a three per cent increase in its dividend to 64.8p per share – its 55th consecutive year of increase.
This reflects positive investment returns across the whole portfolio, with private asset returns particularly strong.
A special dividend of 175p per share has been recommended by the board with a strong balance sheet of £591m of total liquidity.
From its two quoted equity portfolios, it reported a total return of 14.1 per cent in the year, while its private capital division enjoyed a 54.7 per cent boost.
This was driven by two exits this year, with Deep Sea Electronics being sold to Generac Holdings while BioAgilytix was offloaded to Cinven, resulting in net proceeds of £242m and $183m respectively.
The group’s funds portfolio generated total return of 38.3 per cent for the year.
Chief executive Will Wyatt said: “Our strategy of investing in a diversified portfolio of high-quality holdings in listed equities, directly owned private companies and funds has generated significant value over the last year and makes us well-placed to respond to the challenges posed by inflation, supply constraints and potentially lower GDP growth.”
“We remain confident that our approach and high-quality portfolio will continue to deliver our aims of growing net assets and dividends over the long term.”