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Performance highlights

Data as at 31 March 2024

Caledonia investments at a glance – see how our performance stacks up over time. The table below shows our NAV total return and total shareholder return over multiple periods, with a comparison to the FTSE All-Share returns.

1 year
%
3 years
%
5 years
%
10 years
%
  • NAV total return
    7.40
    44.80
    67.50
    160.50
  • Annualised:
    NAV total return
    7.40
    13.10
    10.90
    10.00
  • Total shareholder return
    -1.2
    11.3
    5.0
    8.6
  • FTSE All-Share total return
    8.40
    8.00
    5.40
    5.80

We measure our performance against four strategic objectives using key performance indicators which are shown in the sections below.

Net asset value total return (‘NAVTR’)

NAVTR is a measure of how the net asset value
(‘NAV’) per share has performed over a period, taking
account of both capital returns and dividends paid
to shareholders. NAVTR is calculated as the increase
in NAV per share plus the accretion from assumed
dividend reinvestment over the period, detailed in
note 17 of the financial statements.

Annualised
over 5 years
Annualised
over 10 years
  • NAVTR
    10.9%
    10.0%
  • RPI +3%
    10.2%
    8.9%

Note: Inflation measure will move from the retail prices index (‘RPI’) to the Consumer Prices Index including owner occupiers’ housing costs (‘CPIH’) from the start of the new financial year.

Our objective is to generate total returns that outperform inflation by at least 3% over the medium and longer term – measured by Net Asset Value total return.

NAVTR annualised 10 year rolling perfomance
RPI +3% to RPI 6%
Caledonia

Total shareholder return (‘TSR’)

TSR measures the return to our shareholders through
the movement in the share price and assumed reinvestment of dividends paid during the year.

Annualised over 10 years
  • NavTR
    10.0%
  • TSR +3%
    8.6%
  • FTSE ALL-Share TR
    5.8%

Our objective is to generate total returns that outperform the FTSE All-Share index over ten years.

NAVTR annualised 10 year rolling performance
Caledonia NAVTR
Caledonia TSR
FTSE All Share TR

Annual dividend

Annual dividend is the per share amount payable to
shareholders out of profits for the year, excluding
any special dividends.

Annual dividend per share 70.4p
  • Annualised growth over:
  • 1 year
    4.5%
  • 5 years
    3.5%
  • 10 years
    3.7%

Our objective is to pay annual dividends increasing by inflation or more over the longer term.

Annual dividend / share over 10 years (p)

NAV per share

NAV per share is a measure of the value of the company
per share, calculated by dividing net assets by the
number of shares in issue, adjusting for shares held
by the employee share trust and for dilution by the
exercise of share awards, detailed in note 17 of the
financial statements.

NAV per share 5369p
  • Annualised growth over:
  • 1 year
    7.4%
  • 5 years
    10.9%
  • 10 years
    10.0%

Our objective is to manage investment risk effectively for long-term wealth creation.

NAV/ share over 10 years (p)