Pengana’s income assurance defies COVID downturn
Yield-hungry investors will welcome the new payout mandate from Pengana International Equities (ASX: PIA) listed investment company. The manager has bolstered its long-term commitment to deliver fully-franked dividends, with a final dividend of 2.5 cents fully franked at 30%, lifting its full year payout to 5 cents a share.
Pengana's announcement is particularly valuable in Australia’s current pandemic-hit economic environment, marked by dividend deferrals and cancellations by some of the most reliable income stocks. Many LICs have trimmed dividends, fearing the double-impact of negative returns and dividend payouts. But the Pengana LIC maintains a dual mandate of smooth returns while preserving capital.
In the year to 31st July, the portfolio outperformed the market by more than 8.1%. With $317 million of equity, PIA is the largest ethical LIC on the ASX. The PIA team will host a webinar at 2pm on 9th September.
You can register here
MORE ON Funds
1 stock mentioned
Pengana Capital Group (ASX: PCG) is an ASX listed diversified funds management group specialising in global and Australian managed funds, with distinct investment strategies that aim to deliver superior risk-adjusted returns to investors.