Future Generation Investment Company increase dividend

Company News

by Rachael Jones

Future Generation Investment Company (ASX:FGX) has seen operating profit after tax of $23.2 million that's up from last year's $22.3 million for the year ending December 31 2018.

The increase in operating profit for the period is due to the increase in the distribution income received from the investments with the underlying fund managers.

During the year the company completed its first Share Purchase Plan and Placement which together raised $52.1 million. The capital raised will increase FGX's annual investment in charities focused on children and youth at risk.

The board has also declared a fully franked final dividend of 2.3 cents per shares, bringing the full year fully franked dividend to 4.6 cents per share – an increase of 4.5 per cent on the previous year.

Shares in Future Generation Investment Company (ASX:FGX) closed 1.69 per cent higher to $1.21 yesterday.

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.