Caledonia Investments posts higher total return, names ex-CEO as chair

Tue, 19th May 2026 10:01

(Alliance News) - Caledonia Investments PLC on Tuesday hiked its dividend after net asset value growth in financial 2026, and named its next chair.

The London-based trust investing in public and private companies globally reported a NAV per share of 568 pence at March 31, compared with 548p a year earlier.

This reflects a NAV total return of 5.4%, improved from 3.3% in financial 2025.

Caledonia Investments has proposed to hike its final dividend to 4.0p per share, which raises the total dividend for financial 2026 by 4.4% to 7.68p from 7.36p on-year.

The company's shares rose 0.1% to 371.69p on Tuesday morning in London, but are down 2.4% over the past year.

Chief Executive Mat Masters reaffirmed the company's investment approach, "depsite a volatile backdrop for the global economy".

Masters noted "contributions from all three of our investment pools", which include Public Companies, Private Capital and Funds.

Caledonia Investments noted that it has agreed to sell Stonehage Fleming for approximately GBP290 million, which it said reflects a 3.2 times multiple on cost, and a 30% uplift to the asset's March 2025 carrying value. The sale is expected to close in the middle of 2026.

Masters said on Tuesday: "While market conditions, particularly late in our financial year, impacted overall returns, we remain confident in our high-quality, diversified portfolio and our ability to deliver over the long-term. Through this period of market dislocation, the strength of our balance sheet is a clear advantage. We have the flexibility to deploy capital where we see compelling opportunities for long-term value creation, and we remain focused on taking clear, disciplined steps to ensure that value is reflected more fully for shareholders over time."

In parallel, Caledonia Investments announced that Chair David Stewart will step at its annual general meeting in July.

The company has appointed its former chief executive, Will Wyatt, as Stewart's successor. Wyatt joined Caledonia Investments in 1997 from Close Brothers Group PLC. He became CEO in 2010 and transitioned to a non-executive directorship in 2022.

"He is a member of the Cayzer family and has a deep understanding of Caledonia's culture, investment strategy and long-term approach," Caledonia Investments said. The company stressed that the appointment followed "a formal, rigorous and transparent process", and had "broad support" from major shareholders consulted in advance.

Wyatt is a director of the Cayzer Trust Co. As of March 31, the Cayzer family held a 51.05% stake in Caledonia Investments.

The company also noted on Tuesday that non-executive director Charles Cayzer will not seek re-election at the AGM, and thanked him for his role at the board, which dates back to 1985.

By Holly Munks, Alliance News reporter

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