Our objective is to maximise long-term returns to our shareholders through reliable fully franked dividend income and capital growth. This is measured by Argo’s share price and dividends received over time, with most shareholders also receiving the benefit of franking credits.
Shareholder returns – $10,000 invested over 20 years
Argo has paid dividends every year since we were established in 1946 and every dividend has been fully franked since 1995. Our recent dividend track record is shown in the chart below and details of each dividend paid since 1986 is provided here.
Share price performance
The performance of Argo’s investment portfolio can be measured by changes in the value of net tangible assets (NTA) per share, assuming dividends are reinvested. Argo announces an end of month NTA to the ASX. Latest NTA figures and our monthly investment update are published on our homepage.
The chart below shows the compound annual growth rate of Argo’s share price, NTA and the S&P/ASX 200 Accumulation Index over various periods. The NTA performance figures are after deducting all administration expenses and tax. However, the S&P/ASX 200 Accumulation Index does not allow for these costs.
Share price relative to NTA
|Argo shares can trade at a premium or a discount to the per share NTA. This is mainly due to changes in the supply and demand for Argo shares. On 31 October 2023, the share price traded at a discount of -2.0% to the reported month-end NTA. The graph below shows the share price premium or discount relative to NTA over time.|
Share price premium/discount to NTA