- A significantly higher than expected ordinary dividend: It's been interesting to see them depart from the 1c increase per half method that has always been a trademark. I think this is a result of so many income reliant Milton shareholders coming on board when the merger was done. They are also understandably very proud of their record of never dropping the dividend so a 25 percent increase shows a huge amount of faith in the cash generation of the business over the next few years
- A significant reduction in the large cap portfolio: I'm a fan of this move and had hoped that their exposure here would reduce over time. I just think SOL is a very different beast to AFIC or ARG and many of us hold it for the uniqueness of the exposure to things like private credit and equity so I'm glad to see them heading back in this direction
- The biggest cash balance in recent memory: I've been holding SOL since 2016 and never known them to have nearly 500 million in cash on hand. This opens up the possibility of a significant acquisition over the next year and I think it will also grow further considering another huge dividend is about to come through from NHC.
SOL Price at posting:
$29.15 Sentiment: Hold Disclosure: Held
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