20th Jun 2019 15:20
(Alliance News) - Chrysalis VCT PLC on Thursday said its net asset value decreased in the first half of its financial year following a dividend payment in March.
The venture capital trust's NAV per share stood at 70.80p per share on April 30, down 9.2% from 78.00p the year before and 3.5% from October 31.
However, after adding back the maintained 3.25p per share dividend paid March 29, its NAV was up 0.9% from October and down a more modest 5.1% year-on-year.
Since October, fair value movements in the company's venture capital investments gave a GBP193,000 net uplift with Enthuse Holdings Ltd contributing most strongly with an GBP803,000 valuation uplift after a restructuring and acquisition. However, Locale Enterprises Ltd's value was cut by GBP568,000 on declining profitability.
Chrysalis will pay a standard interim dividend of 1.75p per share and will also pay a 2.25p per share special dividend, taking the total to 4.0p per share. The year prior, Chrysalis paid a 1.75p standard interim dividend plus 3p special dividend for a total of 4.75p.
"Following the payment of the forthcoming dividends, shareholders who invested at launch will have received distributions totalling 90.70p per share," said Chair Martin Knight.
Shares in Chrysalis were up 5.2% at 58.89 pence on Thursday.
Related Shares:
CYS.L