Edison review on Canadian General Investments
London, UK, 9 December 2020
Edison issues review on Canadian General Investments (CGI)
Canadian General Investments (CGI) has been managed by Greg Eckel at Morgan Meighen & Associates (MMA) since 2009. He is encouraged by the company's performance during 2020, a period during which investors have had to endure significant stock market volatility. Stock selection and positive sector allocation, along with remaining calm during the extreme sell-off in Q120, have all contributed to CGI's strong absolute and relative performance. While Eckel is aware 'there can be bumps in the road', he says he will try to manage through these as he has done in the past. 'We are offering consistency, as our shareholders expect,' he adds.
CGI's 31.9% discount to NAV compares with the 28.5% to 32.1% range of average discounts over the last one, three, five and 10 years. The company has moved away from paying special dividends; in FY20 the regular dividend of C$0.84 per share was 5% higher year-on-year. Based on its current share price, CGI offers a 2.5% dividend yield.
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