30th Aug 2024 19:51
Chelverton UK Dividend Trust PLC - investor in mid to small-cap companies - Reports financial results for year ended April 30. Says net asset value is 155.59 pence per share, down 7.5% from 168.15 pence a year prior. Revenue return per share falls 1.9% to 12.70 pence, down from 12.94 pence. Total return on net assets swings to 1.7% from negative 8.2% a year ago. Further, declares interim dividend of 3.15 pence, up from 2.9425 pence a year ago. Noting difficult geopolitical and economic conditions, asset manager David Horner says "we take confidence from the quality of our underlying holdings, and the way in which, in the main, their management teams have navigated what has undoubtedly been an extremely difficult trading environment". Adds that Chelverton continues as "long-term, fundamental investors" and seeks "to back the management teams of growing, cash generative businesses, than settle for a quick return based on current low levels of valuation". Read More
