The share price of Capital régional et coopératif Desjardins (CRCD) reached a new high of $17.90, as of December 31, 2021, a gain of $1.68 compared to the price in effect a year earlier .
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The public company recorded net income of $234.5 million in 2021 for an annual return of 10.3%. Net assets amounted to $2.595 million as of December 31, 2021, up 14.2% from the previous year.
“The record share price and net earnings add to the pride of celebrating the 20th anniversary of CRCD, a fund that stands out for the support it gives, year following year, to the vitality of regions of Quebec,” said Bernard Bolduc, Chairman of CRCD’s Board of Directors.
According to CRCD, these annual results are mainly attributable to Investments impacting the Québec economy, which generated a return of 18.5%. “This is the result of the fact that the majority of companies and cooperatives in the portfolio have performed very well in a context of recovery”, it was specified.
The other investment portfolios generated a return of 4.4%.
As of December 31, 2021, 672 companies, cooperatives and funds benefited from commitments of $1.9 billion by CRCD and its partner funds, including $698 million committed in 2021, an amount that exceeds the previous peak of $400 million. in 2019.
“The sums committed in 2021 enabled us to significantly exceed our target. With our solid presence in the regions, more than 75% of the transactions carried out represent investments of $2 million or less. We also concluded six transactions of more than $25 million, or nearly 38% of the sums committed for the year,” said Marie-Hélène Nolet, chief operating officer of Desjardins Capital, the manager of CRCD.