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| Company Name | % of Total Stock Portfolio | |
| 1 | National Australia Bank | 8.4% |
| 2 | Commonwealth Bank | 7.1% |
| 3 | Westpac Banking Corp | 7.1% |
| 4 | ANZ Banking Group | 4.5% |
| 5 | Wesfarmers Limited | 4.3% |
| 6 | New Hope Corporation | 3.3% |
| 7 | Telstra Corporation | 3.1% |
| 8 | Woolworths Limited | 3.0% |
| 9 | Transurban Group | 3.0% |
| 10 | TPG Telecom | 2.9% |
| 11 | APA Group | 2.9% |
| 12 | AGL Energy Limited | 2.7% |
| 13 | Macquarie Group | 2.6% |
| 14 | IAG Limited | 2.6% |
| 15 | BHP Billiton | 2.5% |
| 16 | Sydney Airport | 2.4% |
| 17 | Sonic Healthcare | 2.2% |
| 18 | ASX Limited | 2.2% |
| 19 | Ramsay Healthcare | 2.2% |
| 20 | Invocare Limited | 2.1% |
| 21 | ARB Corporation | 1.9% |
| 22 | Challenger Group | 1.9% |
| 23 | Woodside Petroleum | 1.7% |
| 24 | Suncorp Group | 1.6% |
| 25 | Flight Centre | 1.6% |
| Cash and cash equivalents | 4.2% | |
| Total of Top 25 plus cash and cash equivalents |
84.0% |
Business Overview
BKI is a research driven, Listed Investment Company, investing for the long term in profitable, high yielding, well managed companies. Listed on the Australian Stock Exchange (BKI.ASX) and managed by Contact Asset Management, an investment in BKI gives shareholders access to a diversified Australian equity portfolio.
Net Tangible Asset Backing
The consolidated unaudited pre-tax net asset backing at 28 February 2018 was $1.61per share. The company is a long term equity investor and does not intend to dispose of its total portfolio. If estimated tax at 30% on unrealised portfolio gains were to be recognised, net asset backing post-tax would be $1.51per share.
All calculations are before providing for the FY2018 Interim Dividend of 3.625cps. BKI traded ex-dividend on 9 February 2018. The payment date for the Interim Dividend was 28 February 2018.
Growing Fully Franked Dividends
BKI’s Board & Management are shareholders in BKI. We invest for the long term and focus on creating wealth for all shareholders by keeping costs low and increasing fully franked dividends and capital growth.
As at 28 February 2018, BKI’s fully franked dividend yield was 4.4% (includes FY2017 Final Dividend of 3.70cps and FY2018 Interim Dividend of 3.625cps** and share price of $1.69), while the grossed up yield was 6.2%*** (tax rate of 30%).
Board and Management
Board of Directors
Robert Millner (Chairman), Alex Payne, David Hall and Ian Huntley. Jaime Pinto (Company Secretary).
Investment Manager
Contact Asset Management: Tom Millner (Director/Portfolio Manager), Will Culbert (Director/Portfolio Manager). Contact provides investment management services to BKI in accordance with the directions of the BKI Board and BKI Investment Committee.
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**Includes FY2017 Final Dividend of 3.70cps and FY2018 Interim Dividend of 3.625cps.
***Based on share price as at 28 February 2018. Grossed up yield based on tax rate of 30%.