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| Company Name | % of Total Stock Portfolio | |
| 1 | National Australia Bank | 6.5% |
| 2 | Commonwealth Bank | 5.9% |
| 3 | Westpac Banking Corp | 5.5% |
| 4 | Wesfarmers Limited | 4.8% |
| 5 | New Hope Corporation | 4.7% |
| 6 | ANZ Banking Group | 3.8% |
| 7 | BHP Billiton | 3.7% |
| 8 | APA Group | 3.7% |
| 9 | TPG Telecom | 3.5% |
| 10 | Macquarie Group | 3.2% |
| 11 | Transurban Group | 3.0% |
| 12 | Woolworths Limited | 3.0% |
| 13 | Woodside Petroleum | 2.7% |
| 14 | AGL Energy Limited | 2.6% |
| 15 | Sydney Airport | 2.6% |
| 16 | Telstra Corporation | 2.4% |
| 17 | IAG Limited | 2.3% |
| 18 | ASX Limited | 2.2% |
| 19 | Sonic Healthcare | 2.0% |
| 20 | Ramsay Healthcare | 1.9% |
| 21 | Invocare Limited | 1.8% |
| 22 | ARB Corporation | 1.6% |
| 23 | Suncorp Group | 1.5% |
| 24 | Challenger Limited | 1.3% |
| 25 | Flight Centre | 1.3% |
| Cash and cash equivalents | 8.1% | |
| Total of Top 25 plus cash and cash equivalents |
85.6% |
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 31 August 2018 was $1.65 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 $1.55 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 31 August 2018, BKI’s fully franked dividend yield was 4.8% (includes FY2018 Final Dividend of 3.70cps and FY2018 Interim Dividend of 3.625cps** and share price of $1.54), while the grossed up yield was 6.8%*** (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 FY2018 Interim Dividend of 3.625cps.
***Based on share price as at 31 August 2018. Grossed up yield based on tax rate of 30%.