27th Apr 2018 16:14
LONDON (Alliance News) - BlackRock Smaller Companies Trust PLC said Friday its net asset value per share increased 21% for its recently ended financial year.
BlackRock's NAV per share at the close of its year ended February was 1,506.78 pence compared to 1,247.03p for the previous year.
The company also increased its proposed final dividend per share to 16.00p from 13.00p, a 23% jump, taking its total to 26.00p, up 24% year-on-year.
The 21% net asset value increase outperformed its benchmark, the Numis Smaller Companies plus AIM Index, which increased by 8.3%.
The company's total assets increased 23% to GBP796.1 million from GBP647.0 million the previous year.
After a strong 2017, BlackRock believes the UK markets have this year been characterised by "greater uncertainty" and "higher levels of volatility", but it feel the global economy remains "strong", in contrast to the UK domestic economy.
Despite this the company expects "many" UK small and midcap companies to perform "well" given the global economic backdrop.
Shares in BlackRock Smaller Companies were trading up 0.2% at 1,423.00p each.
Related Shares:
BlackRock Smaller Companies Trust PLC