Milton (ASX:MLT)

Milton Corporation Limited (ASX:MLT) is a listed investment company (LIC) which has been operating since 1938 and listed on the stock exchange in 1958. Milton invests on behalf of its shareholders into other shares on the ASX and is internally managed by directors and management – this structure keeps costs lower. It aims to pay a fully franked dividend every year to pass through most of the investment gains to shareholders.