23rd Jul 2018 15:01
LONDON (Alliance News) - The Brunner Investment Trust PLC said Monday that its net asset value per share increased 3.1% as it lifted its interim dividend to 8.1 pence.
The trust proposed an interim dividend of 8.1p per share, 16% higher year-on-year from 7.0p.
The company anticipates to maintain a similar growth rate in relation to its third quarter dividend.
"It is anticipated, subject to there being no unforeseen circumstances, that the third quarterly dividend will be maintained at this rate, and an unchanged final dividend of 6.00p will be proposed for the year ending November 30, giving a dividend for the year of 18.15p, a 10% increase on the previous year," the company said.
With debt at fair value, net asset value per share increased 3.1% to 867.3p in the six months to the end of May compared to 841.4p as at the end of November.
Also when considering debt at fair value, net asset value total return was up 4.0%. The company's total return underperfomed when compared to its benchmark, which saw total return up 4.5%.
The company's benchmark comprised of 50% FTSE All-Share Index and 50% FTSE World Ex UK Index until March 21, 2017. From March 22, 2017 the benchmark comprises of 70% FTSE World Ex UK Index and 30% FTSE All-Share Index.
Share price stood at 793.0p at the end of the period, representing a 8.6% discount to NAV.
Brunner shares were trading up 1.1% on the day Monday at 788.40p each.
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