22nd Nov 2013 10:41
LONDON (Alliance News) - Alpha Real Trust Ltd Friday aid net asset value and net asset value per share fell over the first half of the current financial year, but earnings rose compared with a year earlier and it said it will pay a quarterly dividend going forward.
The trust reported net asset value of GBP75.5 million at September 30, down from GBP78.3 million at the end of March, while net asset value per share fell to 106.4 pence, from 107.6 pence. Its adjusted earnings per share was 2.2 pence, down from 5 pence at the end of March but up from 2.1p a year earlier.
"The company´s earnings are increasing as a consequence of a continued allocation of capital to yield driven investments. ART´s ability to alternate between new investments in equity and loan markets allows it to optimise returns," Chairman David Jeffrey's said in a statement.
"With a view to optimising our shareholders' cashflows, subsequent dividends are intended to be declared and paid on a quarterly basis whenever there are sufficient earnings by the Company during the related period. The company declares a dividend of 0.525p, for the quarter ending 31 December 2013, which is expected to be paid on 21 March 2014," it added.
Alpha Real Trust last traded at 52 pence a share.
By Steve McGrath; [email protected]; @SteveMcGrath1
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