27th May 2015 06:45
LONDON (Alliance News) - Caledonia Investments PLC Wednesday reported a "healthy" 14.2% net asset value per share total return for its last financial year.
The net asset value per share total return of 14.2% for the year ended March 31 compared with the 14.9% reported for the prior year.
Net asset value per share increased to 2,906 pence from 2,593p, while the company increased its dividend for the year to 50.6p from 49.1p.
"This performance was well ahead of our year on year objective and, together with our increasing income generation, has supported our proposed 3.1% rise in the total dividend for the year, the forty-eighth year of consecutive annual increases," Chief Executive Will Wyatt said in a statement.
"Our portfolio is built on high-quality businesses with strong prospects for the medium to long term. Coupled with our conservative cash position, we are well placed to capitalise on future opportunities and to meet our average annual return objectives of RPI+3% to RPI+6% over a ten year period," Wyatt added.
In a statement made with Chairman Rod Kent, Wyatt said the company still faces uncertainty in the wake of the UK General Election as there is the matter of the US presidential election in 2016.
"We believe that our portfolio and conservative cash position leave us well placed however challenging market conditions may be. We are invested in high quality businesses that have good prospects for the medium to long term. Our strategy is delivering performance for shareholders at an appropriate level and we are confident that the portfolio is well positioned for the future," Kent and Wyatt said.
By Samuel Agini; [email protected]; @samuelagini
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