Washington H. Soul Pattinson and Company (ASX:SOL) report dividend growth

Company News

by Rachael Jones

Diversified investment house, Washington H. Soul Pattinson and Company (ASX:SOL) report a regular net profit after tax of $169.8 million for the year, down 45 per cent on the previous corresponding period.

Group profit after tax was $953.0 million, up 284 per cent on the FY19 result.

Washington H. Soul Pattinson remains the only company in the ASX All Ordinaries to have increased its dividends every year for the past 20 years.

Dividends have grown at a compound annual growth rate of 9.2 per cent for 20 years.

Its final dividend is 2.9 per cent to 35 cents per share to take full year dividends to 60 cents, up 3.4 per cent on FY 2019.

Shares in Washington H. Soul Pattinson and Company (ASX:SOL) are trading 1.19 per cent higher at $23.76.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.