Annual Report 2017
Contents2 Directors' Report
5 Year Summary
About the Company 4 Review of Operations
and Activities
Top 20 Investments
Board and Management
14 Remuneration Report
Non-audit Services
Auditor's Independence Declaration
19 Financial Statements
Income Statement
Statement of Comprehensive Income
Balance Sheet
Statement of Changes in Equity
Cash Flow Statement
25 Notes to the Financial Statements
25 A. Understanding Djerriwarrh's Financial Performance
29 B. Costs, Tax and Risk
35 C. Unrecognised Items
36 Additional Information
36 D. Balance Sheet Reconciliations
39 E. Income Statement Reconciliations
41 F. Other Information
Directors' Declaration
Independent Audit Report
49 Other Information
Information About Shareholders
Substantial Shareholders
Transactions in Securities
Holdings of Securities
Major Transactions in the Investment Portfolio
Major Transactions in the Trading Portfolio
Sub-underwriting
Issues of Securities
Company Particulars
Shareholder Meetings
Djerriwarrh Investments Limited is a listed investment company (LIC) investing
in a diversified portfolio of Australian and
New Zealand equities. For stocks where there is an options market, the Company often uses
Profit for the Year$33.7m
Down 17.3% from 2016
Net Operating Result$33.8m
Down 19.8% from 2016
Fully Franked Dividendexchange traded and over-the-counter options to enhance the income
10¢
Final
20¢
Total
return to investors.
Down 4 cents from 2016
Total Portfolio Return16.6%
Including franking*
S&P/ASX 200 Accumulation Index
+15.7% including franking*
Total Shareholder Return-3.8%
Share price plus dividend
Management Expense Ratio0.46%
0.46% in 2016
Total Portfolio$752.3m
Including cash at 30 June
$749.8 million in 2016
* Assumes a shareholder can take full advantage of the franking credits.
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Djerriwarrh Investments Limited Annual Report 2017 DIRECTORS' REPORT 5 Year Summary 37.7 42.9 46.9 40.733.7
Net Profit After Tax ($ Million)
2013
2014
2015
2016
2017
Dividends Per Share (Cents)(b)
35.1 42.4 45.5 42.233.8
Net Operating Result After Tax ($ Million)
26.0 26.0 26.0 24.020.0
3502013
3762014
3522015
3092016
324
2017
Net Asset Backing Per Share (Cents)(c)
765.0 871.4 821.3 748.9743.9
Investments at Market Value ($ Million)(a)
19,0052013
19,0352014
18,9902015
18,9342016
18,490
2017
Number of Shareholders (30 June)
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
Notes
Excludes cash.
All dividends were fully franked. For 2017 the dividend carried attributable LIC gain of 7.14 cents per share. For 2016 it was also 7.14 cents per share, for 2015 and 2014 it was 10.0 cents per share. For 2013 it was 14.3 cents per share.
Net asset backing per share based on year-end data before the provision for the final dividend. The figures do not include a provision for capital gains tax that would apply if all securities held as non-current investments had been sold at balance date as Directors do not intend to dispose of the portfolio.
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Djerriwarrh Investments Limited Annual Report 2017Djerriwarrh Investments Limited published this content on 25 August 2017 and is solely responsible for the information contained herein.
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