Argo raises interim dividend

Company News

by Rachael Jones

Investment company Argo (ASX:ARG) has raised their interim dividend after a strong half-year profit result.

They saw a 42.2 per cent increase in half year profit to 157.2 million.

This was significantly influenced by a one-off, non-cash income item of $36.1 million, due to the demerger of Coles (ASX:COL) Group from Wesfarmers (ASX:WES)

Argo’s revenue was also boosted by higher dividends from BHP (ASX:BHP), Rio Tinto (ASX:RIO), CSL (ASX:CSL), Macquarie Group (ASX:MGQ) and Ramsay Healthcare (ASX:RHC)

Their interim dividend has been raised to 16 cents per share fully franked.

Shares in Argo Investments (ASX:ARG) are trading 0.51 per cent higher to $7.88

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.