Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

3 Pages (Click to Jump) V   1 2 3 >   
 
  
Reply to this topic

ARG, ARGO INVESTMENTS LIMITED
nipper
post Posted: Aug 12 2019, 09:07 PM
  Quote Post


Posts: 5,881
Thanks: 2129


KEY POINTS
Revenue ($m) 315 , up 31.5%
Pre-tax profit ($m) 307 , up 25%
Net profit ($m) 293 , flat 33.7%
Final dividend © 17, up 6.3%
Date dividend payable Sept 13

QUOTE
during the 12 months Argo topped up stakes in companies including Bega Cheese, Boral, Oil Search and Transurban.

It bought into fleet leasing group Eclipx, building products firm James Hardie, gaming company Star Entertainment, and Viva Energy for the first time.

MD Jason Beddow said Argo was concentrating on higher-quality companies with strong cash flow which had the capacity to lift dividends, knowing that the sharemarket was at high valuations.

.... and, Sold down ( ** complete disposal)
Asaleo Care**
BHP Group
Coca-Cola Amatil**
Incitec Pivot
Milton Corporation
Navitas**
Rio Tinto
Twenty-First Century Fox**




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 4 2019, 09:01 AM
  Quote Post


Posts: 5,881
Thanks: 2129


In Reply To: balance's post @ Mar 23 2018, 06:08 AM

Argo Investments Limited (ASX: ARG), a major Australian listed investment company with $5.3 billion in assets, announces a 42.2% increase in half-year profit to $157.2 million. The interim dividend has been raised to 16 cents per share fully franked.
QUOTE
Refundable franking credits

Argo is very concerned that many of its retired and self-managed superannuation fund shareholders may experience significant reductions in income due to the Australian Labor Party’s policy to prevent them receiving refunds of excess franking credits. We believe the proposed policy is inequitable. Argo maintains a prudent franking account balance to protect franking on its next dividend and we do not have excess franking credits to distribute at this time.

Purchases
Bega Cheese
Boral
Coles Group (due to demerger from Wesfarmers)
Corporate Travel Management (new position)
Eclipx Group (new position)
James Hardie Industries (new position)
Oil Search
QBE Insurance Group
Rural Funds Group
Star Entertainment Group (new position)
Transurban Group
Viva Energy (new position)

Sales
AMP
Asaleo Care
Coca-Cola Amatil (exited position)
Twenty-First Century Fox (exited position)
Wesfarmers (partly demerged into Coles position)

After these transactions, the number of stocks held in the portfolio rose from 93 to 99 and the cash balance decreased slightly to $199 million at 31 December 2018, representing 3.8% of the Company’s total assets.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
balance
post Posted: Mar 23 2018, 06:08 AM
  Quote Post


Posts: 5,570
Thanks: 579


In Reply To: Mags's post @ Mar 22 2018, 04:46 PM

Things like Argo and AFIC are pretty good vehicles as for long term stress free market investing. Like an index fund with management that's not too active so as to jack up the fees.

Just keep adding and building, not too fussed with timing.

Vanguard have introduced what I think are great funds lately. VDCO, VDBA, VDGR and VDHG. Diversity of sectors with international exposure with quite low fees. here

Most of Vanguard's funds distribute quarterly not half yearly. I think that's good for those reinvesting or living on the income.



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.

Said 'Thanks' for this post: daggie  nipper  
 
Mags
post Posted: Mar 22 2018, 04:46 PM
  Quote Post


Posts: 400
Thanks: 182


In Reply To: nipper's post @ Mar 22 2018, 04:43 PM

Argo is my largest holding. I just DRP.

So sick of money in the bank earning nothing, while looking at markets that don't seem to be justified.

Gonna have to put my thinking cap on for this one.


Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Mar 22 2018, 04:43 PM
  Quote Post


Posts: 5,881
Thanks: 2129


In Reply To: Mags's post @ Mar 22 2018, 04:32 PM

tricky one

Issue price won't be $7.98 if today's price action keeps on for next 4 days; likely to be calculated on
QUOTE
VWAP over 5 trading days up to and including closing date, rounded down to nearest cent
but this likely lower issue price is closer to Argo's NTA ($7.83 at end of Feb) and hence doesn't look as expensive

Do you want as part of your investment portfolio:
- fully franked dividends?
- low management fees?
- something close to the index, yet actively managed?
QUOTE
Argo uses extensive research and direct company visits to identify well managed, listed Australian businesses

that operate in sound industries, have good cash flow and the potential to grow dividends.

The Company seeks to buy or add to its long-term holdings in those businesses at times when share prices compare favourably to long-term valuations.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
Mags
post Posted: Mar 22 2018, 04:32 PM
  Quote Post


Posts: 400
Thanks: 182


Any takers on the SPP?

 


nipper
post Posted: Feb 5 2018, 08:21 AM
  Quote Post


Posts: 5,881
Thanks: 2129


QUOTE
The Australian equity market has continued to rise, and compelling value buying opportunities have been hard

to come by. We selectively increased our positions in a number of smaller companies, including Monash IVF

Group, iSelect, Tassal Group, Speedcast, Managed Accounts and Steadfast Group, and a new holding was

initiated in Novonix, a supplier of materials and services to the lithium battery industry. The number of stocks

held in the portfolio reduced slightly to 96 and the cash balance at 31 December was $235 million, representing

4.2% of the Company's total assets....

[Any] short-term underperformance was primarily due to the strong run of resources stocks, including

many of the smaller companies in that sector. Argo generally holds lower than market weightings in these

companies, as they often pay relatively low or no dividends and can be somewhat speculative.



QUOTE
Global share markets have continued to march upwards, led by the US repeatedly hitting all-time highs. Positive economic indicators have firmed throughout the second half of 2017, with additional fuel provided by the Trump administration's tax cuts.

The Australian economy looks in reasonable shape, with historically reliable indicators such as the NAB business sentiment survey, government infrastructure spending and employment all producing strong readings.

Despite the positive economic outlook, we continue to be cautious of relatively high valuations in some sections
of the Australian share market, as we noted at last year's Annual General Meeting in October. Since then we have seen the ASX200 Index return +7% in the December quarter and the A$ jump by 8% since mid-December, and we feel that valuations are looking further stretched with some frothy areas of the market emerging.

The larger cap end of the Australian market outside of resources looks to be where there may be some better value, following another year of strong share price performance from smaller companies.

Argo is a long-term investor and we maintain our valuation discipline by not chasing stocks which we believe to be overvalued. However, the upcoming corporate results reporting season may throw up some opportunities for further purchases of quality companies that do not meet the short-term earnings expectations of the market.





--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: Mags  
 
nipper
post Posted: Aug 8 2016, 10:10 AM
  Quote Post


Posts: 5,881
Thanks: 2129


Argo will pay a final dividend of 15.5c per share, bringing the year's total distribution to 30.5c a share, which is 1c per share higher than last year's payout and a new record high for the group. The previous high water market was set just before the GFC in 2007-08. It's the fourth successive increase in the annual dividend. Argo has paid dividends every year since it was established 70 years ago in 1946.

Argo's investment portfolio returned negative 1.2 per cent over the year "characterised by macroeconomic and political uncertainty" as volatility was heightened due to masses of liquidity pumped into markets by central banks.

But while many other Australian LICs took the opportunity to move their portfolios into stocks in the mid-cap and small-cap parts of the market as the big end of town underperformed, Argo managing director Jason Beddow said the large-cap strategy would continue to pay off in the long run.

"Although the skew of Argo's long-term portfolio to some of the larger sectors may have negatively impacted our relative performance this year, these broad portfolio settings will continue to deliver solid growth and dividend income for the company and its shareholders in the longer term," Mr Beddow said.

He said companies with above-market dividend growth would be well supported in the market, despite valuations already being excessively inflated. "With abundant and increasing global liquidity, we believe that despite the potential for rate increases in the US, the yield thematic will continue to be a dominant consideration for the remainder of the year."

Mr Beddow said Argo took advantage of volatility in the market to build stakes in existing stocks and to add new companies to the group's range of investments. These included stakes in CBL Corporation, Estia Health, Genworth Mortgage Insurance, McGrath, M2 Group, Reliance Worldwide and Rural Funds Group.

Some of the group's biggest sell-downs included Medibank Private, CIMIC Group, UGl and Clydesdale Bank, all of which were completely removed from the Argo portfolio.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mptrader
post Posted: Jan 22 2008, 02:14 PM
  Quote Post


Posts: 171
Thanks: 5


with the overall market down 20% I think that it has held rather well. it holds alot of MQG and they are in the middle of credit issue. ARGO Sp will be dependant on the market moves.

 
Mags
post Posted: Jan 21 2008, 10:19 PM
  Quote Post


Posts: 400
Thanks: 182


True. But its getting a flogging, far more than I would have expected. Argo have always invested in solid stable cash generating businesses. Yes I expected a drop, but this has got to be oversold at these levels, providing the USA doesn't dissappear.

 
 


3 Pages (Click to Jump) V   1 2 3 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING