Australian Water Entitlements, a diversified Agricultural Investment
A most precious commodity
The presentation will feature Alister Walsh, Director: Water Assets Duxton Capital & Portfolio Manager Duxton Water Ltd . Duxton Capital (Australia). Alister has been in his current position for three years and was previously CEO of Waterfind Pty Ltd one of Australia’s Largest Water Exchanges.
Duxton Capital is a specialist agricultural asset manager. The Company manages over $600 million of Australian agricultural investment across a number of commodities including Broadacre Cropping, Vineyards, Dried Fruit, Dairy, Walnuts, Apples and Citrus. In 2016, Duxton Capital founded the ASX-listed water trading business Duxton Water (D2O). The Company has acquired and manages a portfolio of Australian water entitlements primarily focused in the southern Murray Darling Basin. 100% of the Company’s water asset holding is used to deliver water supply to Agriculture producers from which the Company derives an income. This predominantly involves the direct leasing of water entitlements to irrigators, who through leasing their water supply, can then make alternative capital choices and invest in their land and production assets. At the 31 January 2020 the Company holds 83,380 megalitres of permanent water entitlements valued at over $345 million and has a market capitalised of $183m. The company pays dividends twice annually, which for 2019, have totalled 5.3 cents (fully franked). With announced and targeted dividends the company is committed to paying 5.7 cents (fully franked) in 2020*. Alister’s presentation will profile the company and its prospects.
*the Company’s financial year is the calendar year.