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Pacific Current Group Ltd hits new 52-week high with a share price of $6.21

The Pacific Current Group Ltd (ASX: PAC) share price hit a new 52-week high of $6.15 this morning.

Shares of the boutique asset manager are up 36% in the past year, and up 50% over the past 5 years.

According to Google Finance, the Company is focused on seeking out and partnering with investment managers. The Company invests in global asset management through its investment in Aurora Trust, which is involved in funds management.

Aurora Trust manages the Company’s interest in over 20 boutiques in Australia, the United States and other jurisdictions ranging from traditional equities to alternatives and private equity. The Company’s portfolio is diversified across a range of dimensions, including investment strategy, geography, revenue model and client type. All of its boutiques are involved in managing assets for institutional and individual clients around the world. The Company is focused on the sale of boutique investment products and services to institutional investors, superannuation and pension funds, family offices and other classes of investors.

Shares have rocketed higher in May due to booming funds under management. Fund manager Perpetual Limited (ASX: PPT) upped its stake to 12%, and Pacific Current announced an oversubscribed capital raising at $5.65 per share.

At a share price of $6.21, Pacific Current shares offer a fully franked dividend of 4.1%.

A Big, Fat, Fully Franked Dividend

This company's dividend is almost the stuff of legends. Since it started paying dividends in 2007, it has increased its payout to shareholders every single year, a run that includes 21 consecutive dividend increases.

Based on the last 12-months of dividends, its shares are currently offering a fully-franked 4.8% yield, which grosses up to almost 7% when those franking credits are included. And in stark contrast to the likes of Commonwealth Bank and Telstra, this company just increased its dividend by over 13%, and guided for 2017 profits to grow by 20%!

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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