Argo Investments Limited (AU:ARG) has released an update.
Argo Investments Limited has reported a full-year profit of $253.0 million and maintained a fully franked final dividend of 18.0 cents per share, despite a decline in profit from the previous year due to lower investment income from key holdings like BHP Group, Rio Tinto, and Woodside Energy. The company has remained resilient, with a management expense ratio decrease in an inflationary environment and a consistent and stable dividend payout to shareholders. Argo’s investment strategy included significant purchases and sales, with an 11.0% net tangible asset return after costs, slightly underperforming the market index.
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