Benefits of Investing in Milton

Diversification:

Milton has a diversified portfolio of investments in ASX listed companies and trusts as well as interest bearing securities and real property. 

(see classification of assets for further details)


Disciplined Investment Process:

Adherence to long standing, successful investment philosophy by experienced investors. Milton’s team of analysts continuously review Milton’s investments and they make portfolio recommendations which are considered by the Investment Committee.  The Investment Committee comprises three non-executive directors and the managing director.


Low Administration Fees:

Milton is internally managed and so it does not pay management fees to any external manager.

Milton's annualised management expense ration (MER) which reflects total annualised operating costs including listing fees and share registry fees as a proportion of total assets as at 30 June 2017 was 0.12% pa is one of the lowest in the industry.


Reliable Fully Franked Dividends:  

Milton has paid a dividend every year since listing and since the introduction of franking all dividends have been fully franked. The reliability of the dividend enables shareholders to forecast the likely income and cashflow from their investment. Shareholders do not need to await a tax statement to prepare their tax return.

(See dividend history


Dividend Reinvestment Plan (DRP):

Investors may elect to participate in the DRP. The DRP enables eligible shareholders to have dividends paid on some or all of their Milton shares automatically reinvested in additional Milton shares.

(Click here for the terms of the DRP)


LIC Capital Gains:

Individuals, trusts and superannuation funds that receive distributions of LIC Capital Gains are able to claim deductions in their tax return in the year of receipt.

Milton's intention is to distribute most of these LIC Capital Gains as part of the final dividend in the year in which they are realised.


ASX Listing:

Investors are able to buy or sell Milton shares through any share broker or any online trading platform.


Fixed Capital Base:

The company structure enables Milton to invest for the long term as it is not affected by the unexpected cash inflows or outflows, which may adversely affect other collective investment vehicles such as managed funds.


Experienced Board of Directors:

Milton’s board of directors consists of five non-executive directors and one executive director.

The board is accountable to shareholders for the performance of the company. It oversees the activities and performance of management and provides an independent and objective view to Milton’s decisions.


Transparency:

Each month Milton reports its net asset backing, top 20 holdings and asset allocation by sector to the ASX. Profit reports are provided to the ASX on a semi annual basis.

A full list of investments is included in the Annual Report and available online. In addition, shareholders can meet with directors and executives at the Annual General Meeting. Shareholders can elect to receive by email a copy of all company announcements. 


New Share Issue Opportunities:

Milton has a history of increasing its capital through rights issues and the Share Purchase Plan (SPP). These issues give shareholders the opportunity to increase their investments at a discount to the market price and without incurring fees.

The Share Purchase Plan provides shareholders with the opportunity of investing up to $15,000 in new Milton shares without incurring brokerage or stamp duty. The share purchase plan is subject to approval by the board of directors each year.