Unlike its stablemate, Mirrabooka Investments (MIR) earlier in the week, Melbourne-based licensed investment company (LIC) Djerriwarrh Investments (DJW) lifted earnings in the year to June, but will left its final dividend unchanged.
Mirrabooka also left its final unchanged, but declared a special 7 cents a share extra dividend because of capital profits generated in the rebalancing of its investment portfolio. That rebalancing and a drop in dividend income saw Mirrabooka report a fall in earnings.
Djerriwarrh will pay a final dividend of 16c a share, or 26c for the year to June.
Revenue from operating activities jumped nearly 10% to $43.5 million.
Djerriwarrh is an part of the Australian Foundation Investment Co (AFIC) group of LICs. AFIC releases its full year earnings on Monday.
Djerriwarrh’s total portfolio return for the 2014-15 year including all dividend benefits was 3.2%, against the ASX200 Accumulation index’s return of 6.8%.
The company benefited from the split in BHP Billiton with a non-cash dividend of $5.6 million from the spin-off of South32 from BHP, which boosted the profit.
Djerriwarrh said its writing of call options on its blue chip holdings, adding $14.1 million in the latest year, compared with $14.4 million in 2013-14.
The group’s top five holdings now are Commonwealth Bank $69.2m, BHP Billiton $67.1m, NAB $59.3m, Westpac $58.5m, and ANZ $54.1m.
Djerriwarrh shares rose 6 cents to close at $4.88.
