MONTHLY NTA AND PORTFOLIO REPORT - 31 March 2021
Before tax 1 | After tax1 | |
NTA per share | $5.00 | $4.34 |
1As Milton is a long-term investor and does not intend disposing of its equity investment portfolio the NTA before tax excludes a provision for tax on unrealised capital gains that may arise should the equity investment portfolio be disposed.
MILTON is predominantly a long term investor in companies and trusts that are listed on the Australian Securities Exchange (ASX).
The composition of the equity portfolio is not aligned with any stock exchange index. It reflects the emphasis Milton has always placed on investing in well managed companies that have a profitable history and are expected to grow dividends over time.
Milton has a long track record of paying fully franked dividends, which are predominantly funded by the dividends received from its equity investment portfolio.
Milton's efficient internal management structure aligns interests with shareholders and results in an MER of 15 basis points.
Key facts at 31 March 2021
ASX listing code: | MLT | |
Listed since | 1958 | |
Share price: | $4.67 | |
Market cap | $3.14 billion | |
Total assets | $3.37 billion | |
MER (at 31 Dec 2020) | 0.15% | |
Dividends - Fully Franked | ||
FY21 | Interim | 5.75cps |
FY 20 | Interim | 9.0cps |
Final | 8.5cps | |
Total | 17.5cps | |
Directors & Management | ||
Robert Millner | Chair | |
Brendan O'Dea | MD/CEO | |
Graeme Crampton | NED | |
Kevin Eley | NED | |
Ian Pollard | NED | |
Justine Jarvinen | NED |
Milton Corporation Limited | ||
ABN 18 000 041 421 | Telephone: (02) | 8006 5357 |
Level 5, 261 George Street, Sydney NSW 2000 | Facsimile: (02) | 9251 7033 |
Email: general@milton.com.au | Share Registry Enquiries: 1800 641 024 | |
Website: www.milton.com.au |
PORTFOLIO REPORT
TOP 20 HOLDINGS | Share of | ASSET CLASSIFICATION | Share of | |||||
Total Assets | Total Assets | |||||||
% | % | |||||||
W H Soul Pattinson & Company | 8.6 | Banks | 19.0 | |||||
Commonwealth Bank | 8.0 | Materials | 12.2 | |||||
Macquarie Group Limited | 7.4 | Other Financials | 12.2 | |||||
Westpac Banking Corporation | 7.2 | Energy | 10.0 | |||||
BHP Group Limited | 6.5 | Consumer Discretionary | 9.4 | |||||
CSL Limited | 4.7 | Industrials | 8.6 | |||||
Wesfarmers Limited | 4.5 | Health Care | 6.6 | |||||
National Australia Bank | 3.8 | Consumer Staples | 5.8 | |||||
Woolworths Limited | 3.6 | Real Estate | 4.0 | |||||
Eagers Automotive Limited | 2.8 | Insurance | 3.6 | |||||
Transurban Group | 2.3 | Communication Services | 3.5 | |||||
Rio Tinto Limited | 2.2 | Utilities | 1.6 | |||||
Brickworks Limited | 2.0 | Information Technology | 0.8 | |||||
ALS Limited | 1.7 | Total investment portfolio | 97.3 | |||||
Telstra Corporation Limited | 1.5 | Cash | 1.3 | |||||
Amcor PLC | 1.5 | Other assets | 1.4 | |||||
Coles Group Limited | 1.4 | Total assets | 100 | |||||
Perpetual Limited | 1.2 | |||||||
ASX Limited | 1.2 | |||||||
Johns Lyng Group Limited | 1.0 | |||||||
Total | 73.10 |
TOTAL RETURNS TO 31 MARCH 2021
Commonly used indicators of LIC performance are Total Portfolio Return (TPR) and Total Shareholder Return (TSR). TPR combines the change in value of the NTA per share with the dividends paid in the period. TSR combines the change in share price with the dividends paid in the period and captures the impact of any premium or discount to NTA. The below TPR & TSR calculations do not take into account franking credits which may be of benefit to certain shareholders.
45% | MLT TPR | MLT TSR | |||||||
40% | |||||||||
35% | |||||||||
30% | |||||||||
25% | |||||||||
20% | |||||||||
15% | |||||||||
10% | |||||||||
5% | |||||||||
0% | |||||||||
6 Months | 1 Year | 3 Yrs (pa) | 5 Yrs (pa) | 10 Yrs (pa) | 15 Yrs (pa) | 20 Yrs (pa) | |||
MLT TPR | 19.04% | 38.30% | 8.17% | 7.93% | 7.78% | 6.20% | 9.08% | ||
MLT TSR | 16.15% | 34.40% | 5.46% | 6.56% | 8.45% | 5.11% | 9.28% | ||
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Disclaimer
Milton Corporation Limited published this content on 01 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2021 13:33:09 UTC.