Milton's annual profit up 42.3 per cent

That's it - first it was AFIC and now Milton. I want some excitement as I'm tired of the same old boring result

Milton's annual profit up 42.3 per cent - Breaking News - Business - Breaking News

"Milton declared an increased fully franked final dividend of 45 cents per share after growth in investment revenue lifted underlying earnings from 91 cents to 98.5 cents per share.

This brings the 2008 full year ordinary dividend to 88 cents per share, an increase of 8.6 per cent from 81 cents.

And in further good news for its shareholders, the listed investment company (LIC) has declared a fully franked special dividend of eight cents per share to mark the company's 50th year of listing.

Chairman Robert Millner said none of Milton's full year ordinary dividends had ever been less than the previous one. (and they listed in 1958)"

Bugger it gets even worse as now I've got to find what to do with the special dividend

Sorry Sim - I just get out of hand when boredom strikes

Cheers - Gordon

That is an incredible result.
I wonder how they did it? Did they invest large portion of their fund in resources? I can't get my head around it. It is an extremely great result for the current market especially in the last 6 months or so.

Hi Tropic,

Milton don't tend to invest much into Resources as they favour income producing stocks. Other than that I have no idea to be honest and I usually don't bother looking into the detail any more nowadays. I do know however that like a number of the older LICs that they are a consistent performer, have no borrowings, pay a continuing rising dividend with fantastic SANF. Hence this is why I only have older LICs and a couple of Listed index funds in the SMSF. I just continue to top these up at opportune times and forget about them knowing there is a very high likelihood they will reward me well when I need to call on them in retirement.

I rarely bother looking at the SMSF holdings except when there is more funds to invest. I do however get excited buying/adding to the portfolio of 20 or so stocks in the discretionary trust especially in the current bear market. Ironically the SMSF porfolio will probably do better than my hand picked portfolio in the long term but one has to have fun as well.

Cheers - Gordon

Gordon,

You are talking to a wrong person !!

PS - Below is weekly Milton (another view to a kill ).

Attached Images

MILTON_ax29jul02_to_14oct08.png (11.0 KB, 14 views)

Hi Tropo,

I realized that I had typed the wrong name and corrected it not long after posting the original post.

As an income oriented investor the current chart is of little significance to me. Milton's price, like that of the overall market, will take care of itself over time like it always does. In the meantime the dividends continue to flow and that's all that matters to me.

Cheers - Gordon

I think I will add the stock (MLT) on my watchlist. Perhaps I should get some when the market is down some more.
Thanks.

Great result. Only thing I don't like about MLT is the lack of a DRP (dividend reinvestment). Can always buy them yourself but ARG and AFI its all done automatically and at a discount.

My understanding is that STW achieves better post-tax returns than the old school LIC's. Anyone able to substantiate or refute this?