November marked our 22nd Annual General Meeting which was held in Brisbane on the 8th of November.

The formalities of the meeting were dealt with quickly and gave our Shareholders an opportunity to discuss the performance of the Company in the financial year to 30 June 2019 and to preview what’s next in 2020.

As we come to the end of 2019 we reflect on the turmoils of the political climate in Australia and overseas which have created a level of uncertainty for investors globally and yet, we are able to celebrate the success of the Company during the year:

  • The portfolio has delivered a strong return during the calendar year to 30 November, 37.05%. Outpacing the All Ordinaries Accumulation Index which increased 25.89%
  • Dividends paid during the calendar year of 4cps (interim FY19) and 4.25cps (final FY19) are an increase of 6.45% on the prior year.
  • Share price growth from $1.65 at the start of January 2019 to $1.85 at the end of November 2019 (12.12%).

In other news, we take the opportunity to again congratulate our Investment Manager, Dr Manny Pohl who received an Order of Australia. The presentation ceremony held in Melbourne in September 2019 recognised his contribution to the finance sector and the community.

The team at Flagship Investments wishes all our shareholders a safe and happy Holidays.