Three extra cents from Three Pillars
Van Eyk Three Pillars (VTP), the listed quantitative investor in Australian equities, has shared its high returns with investors by paying a special dividend.
The 3 cents per share special dividend accompanies an ordinary dividend of 2.5 cents per share, which together with a 1.5 cent dividend last November has given investors a 7 per cent fully franked yield this year.
VTP executive director, Cameron Mcullagh, said where performance allowed, extraordinary dividends would always be paid to deliver investors a high yielding product.
VTP’s underlying portfolio has returned a net 27.8 per cent in the last 12 months and 30.83 per cent since its January 2004 inception.
Mcullagh thought VTP represented good value at its current price of $1.02, given its net tangible assets after tax were $1.17.
“The experience of other LICs (listed investment companies) has been for that discount to close once investors become comfortable with your track record,” Mcullagh said.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.