IN BRIEF: Shires Income net asset value falls 7.3%, raises dividend
(Alliance News) - Shires Income PLC - London-based investment trust - Reports net asset value at March 31 was 257.92 pence, down 7.3%, from 278.29p a year prior. Increases total dividend to 14.20p from 13.80p. Says financial year proved to be challenging on many levels. Highlights the conflict between Russia and Ukraine, the cost of living crisis rising inflation, higher interest rates and UK Government instability. Notes the NAV performance for the year, on a total return basis, was negative 2.2%, an underperformance of 5.1% compared to the FTSE All-Share Index benchmark return. Adds the share price performance was also behind the benchmark, with a total return of negative 5.5% for the year. Expects the preference share portfolio to show some recovery in the coming months while still continuing to provide a reliable and high source of income. Read More