29th Jun 2020 15:45
(Alliance News) - British & American Investment Trust PLC on Monday posted an annual fall in net asset value and decided against paying a final dividend.
Net asset value per share at December 31 was 17% lower at 19 pence each, from 23p a year before. British & American noted the FTSE 100 and All-Share indices grew 12% and 14%, respectively in 2019.
Shares in the company were untraded in London on Monday afternoon, last quoted at 22.95p each.
On a total return basis, adding back dividends, British & American's net assets climbed 1%, compared to jumps of 17% in the FTSE 100 index and 18% in the FTSE All-Share.
The investment trust chopped its payout by 69% to 2.7p per share from 8.7p. It did not recommend a final dividend.
"This decision is made in the context of the economic and investment realities arising out of the Covid-19 pandemic," the trust said.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Br.amer.inv.tst