Future Generation Australia has increased its fully franked interim dividend after delivering a 20.1 per cent total shareholder return in the year to June 30.
The listed investment company declared a 3.8¢ per share interim dividend, taking its annualised fully franked dividend to 7.6¢ per share, representing a grossed-up dividend yield of 8.1 per cent.
Chairman and former RBA governor Dr Philip Lowe said the fund’s long-term investment portfolio performance has enabled the board to increase the fully franked interim dividend.
“The increased dividend demonstrates the strength and sustainability of the company’s model, delivering value for shareholders while supporting social impact partners working to improve outcomes for Australia’s most vulnerable children,” he said.
Future Generation Australia said its investment portfolio had returned 9.1 per cent per annum since inception in 2014, outperforming the S&P/ASX All Ordinaries Accumulation Index by 0.9 percentage points annually with lower volatility.
The company said its portfolio remained positioned away from Australia’s largest companies, with 16.6 per cent exposure to the top 10 ASX stocks compared with 45.3 per cent for the broader market.
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