AMCIL (ASX:AMH) reported a full-year profit of $6.7m, down from $7.5m in the prior year, reflecting lower income after reducing bank holdings. The board declared a 2.5c fully franked final dividend and a 3c fully franked special dividend, bringing total dividends for the year to 6.5c per share. The special dividend reflects realised capital gains and franking credits from trimming Wesfarmers and major bank holdings, and fully exiting Commonwealth Bank at what management saw as stretched valuations.
The company’s portfolio return, including franking, was 6.4%, compared with the ASX 200 Accumulation Index’s 15.1%. AMCIL’s management expense ratio remained at 0.56%, with no performance fees.
In terms of portfolio activity, AMCIL maintained an underweight position in banks. Recent portfolio additions include Sigma Healthcare, Life360, and Hub24, all meeting AMCIL’s quality and growth criteria.
