12th Jun 2020 12:05
(Alliance News) - Alpha Real Trust Ltd on Friday said its net asset value grew in its most recently ended financial year.
The stock was 1.6% higher in the afternoon trading in London on Friday at 145.80 pence a share.
The investment company reported NAV per share as at the end of March of 213.7p, up from 204.3p a year earlier.
The trust declared a quarterly dividend of 1.0p per share, which is expected to be paid on July 17, taking the total payout for the year to 3.6p. A year prior, Alpha paid a dividend of 2.6p.
Looking forward, the company said it intends to take a cautious approach to new investment and conserve cash until the Covid-19 situation unfolds.
"This cautious approach, while conserving cash, is likely to significantly reduce earnings in the current year," noted Chair David Jeffreys.
"Over the past year, the company has focused on recycling capital into asset backed lending while reducing exposure to development risk. In this time of heightened uncertainty, the company is benefiting from that strategy and it has placed the company on a robust financial footing," added Jeffreys.
By Evelina Grecenko; [email protected]
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