Caledonia Investments (LON:CLDN) reported a 5.4% net asset value (NAV) total return for the fiscal year ending March 31, 2026, with NAV rising to £3.0 billion. Despite the NAV increase, total shareholder return was negative 7.1% due to a widening discount to NAV, which averaged 34% during the year and reached 43.4% by year-end.
The company proposed a final dividend of £0.04 per share, increasing the total annual dividend to £0.0768, a 4.4% rise from the previous year. In personnel changes, Will Wyatt was appointed chair, succeeding David Stewart, while Charles Cayzer opted not to seek re-election after over 40 years of service.
Caledonia’s private capital pool achieved a 13.1% return, primarily driven by the planned sale of Stonehage Fleming, expected to yield approximately £290 million. The funds portfolio, valued at £941 million across 82 funds, saw a 7.1% annual return in local currency, with Asian funds delivering a 7.7% return.
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