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