Investor is undoubtedly Sweden’s most popular investment company and actually the most owned limited company in Sweden. Last week, Investor presented its report summarizing the past year and with it also the dividend notice for the dividend collected this year.
Investor currently has just over 500,000 owners. An absolutely incomparable number. Telia comes in 2nd place with its 460,000 owners.
Investor’s goal is to generate a steadily rising dividend, which has historically been done, with the exception of a few individual years such as e.g. when Covid-19.
The analysts had expected a dividend increase of 5%, from SEK 4.4 to SEK 4.6 (according to Bloomberg). However, Investor puts a hook on the analysts and delivers a dividend of a very nice SEK 4.8/share. Before the report, Investor had a discount of 8.47% based on the net asset value they reported last time. Today, they report a net worth of SEK 267, which gives a discount of 14.9%. Over the past 5 years, the discount has averaged 12.7%.
Investor has very much of its portfolio in the listed environment (Atlas Copco, AstraZeneca, ABB etc). Today, approx. 70% of the portfolio is listed holdings and the remainder is then unlisted.
What Investor has done well is to strengthen its balance sheet during the period when interest rates were low, and as a result the loan picture looks very good today. It feels like most others did the opposite, i.e. borrowed over their ears when the interest rate was low.
I am keen on adding more shares….
Busy And Useful 