The Caledonia board has declared an interim dividend of 17.0p per share, an increase of 2.4% on last year's interim, at a total value of £9.3m. This will be paid to shareholders on 7 January 2021.
Other financial highlights include:
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+10.4% NAV total return for the six months. |
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Caledonia Quoted Equity returned 22.2%, benefitting from a notable rebound in global equity markets and careful stock selection. |
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Caledonia Private Capital returned 1.0%, with most investee businesses adapting well to the new Covid‑19 environment and trading strongly. However, the resulting positive returns were largely offset by the adverse valuation impact resulting from the restructuring required for Buzz Bingo. |
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Caledonia Funds returned 15.7%, with good underlying performance from the Asian funds. The valuations have reverted to manager NAVs, which now incorporate the impact of Covid‑19, removing the need for adjustment that existed at the end of March. |
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Portfolio investments totalling £125m: £58m into their Funds pool's private equity funds programme and £49m into Private Capital investments, including £27m of new equity in Buzz Bingo and £15m in Seven Investment Management to finance its acquisition of Partners Wealth Management. |
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Portfolio realisations totalling £27m included £14m from fund distributions and redemptions. |
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Good liquidity position, with £8m of cash plus undrawn facilities of £235m at 30 September 2020. |
