VANCOUVER, British Columbia, Aug. 23, 2024 (GLOBE NEWSWIRE) -- (TSXV:PTF) Pender Growth Fund Inc. (the "Company") today announced its financial and operational results for the three months and six months ended June 30, 2024.
Financial Highlights (Unaudited)
Net income was $22,533,335 for the three months ended June 30, 2024 (June 30, 2023 – $41,217) due to positive investment performance in the quarter.
Net income per Class C common share ("Share") was $3.09 for the three months ended June 30, 2024 (June 30, 2023 – $0.01).
The Company's total shareholders' equity increased by $34,113,306 from $69,886,178 at December 31, 2023 to $103,999,484 as at June 30, 2024, due to net income from positive investment performance of $34,796,261 during the quarter, offset by shares repurchase of $682,955 under the Company's Normal Course Issuer Bid ("NCIB").
Shareholders' equity was $14.29 per Share as at June 30, 2024 (December 31, 2023 – $9.48).
7,278,029 shares were outstanding as at June 30, 2024 (December 31, 2023 – 7,368,229), a decrease of 90,200 shares as a result of shares repurchase under the NCIB, which was renewed on February 15, 2024.
At June 30, 2024, 87.8% of the investment portfolio was made up of public companies and 12.2% of private companies.
Management Expense Ratio ("MER") before performance fees was 2.65% for the quarter ended June 30, 2024, down 0.01% compared to 2.66% in the second quarter of 2023.
PERFORMANCE(Based onShareholders' Equity)
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SinceInception
