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Company Name % of Total Stock Portfolio
1 Commonwealth Bank 6.3%
2 National Australia Bank 6.0%
3 Westpac Banking Corp 5.4%
4 New Hope Corporation 5.3%
5 BHP Billiton 4.3%
6 APA Group 4.2%
7 Transurban Group 4.0%
8 ANZ Banking Group 3.8%
9 Macquarie Group 3.6%
10 Woolworths Limited 3.5%
11 Wesfarmers Limited 3.2%
12 Woodside Petroleum 3.1%
13 Sydney Airport 2.8%
14 TPG Telecom 2.8%
15 AGL Energy Limited 2.7%
16 Ramsay Healthcare 2.6%
17 Telstra Corporation 2.5%
18 ASX Limited 2.4%
19 IAG Limited 2.2%
20 Invocare Limited 2.1%
21 Sonic Healthcare 2.0%
22 Suncorp Group 1.4%
23 ARB Corporation 1.4%
24 QUBE Holdings 1.2%
25 Magellan Financial Group 1.1%
Cash and cash equivalents 4.8%
Total of Top 25 plus
cash and cash equivalents

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 2019 was $1.59 per 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 $1.51 per share.

All calculations are after providing for the FY2018 Final Dividend of 3.70cps which was paid to shareholders on 29 August 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 2019, BKI’s fully franked dividend yield was 5.8% (based on the immediate past 12 months rolling dividend** and share price of $1.52), while the grossed up yield was 8.3%*** (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 FY2018 Final Dividend of 3.70cps and FY2019 Interim Dividend of 3.625cps and Special Dividend of 1.5cps.
***Based on share price as at 28 February 2019. Grossed up yield based on tax rate of 30%.