30th Sep 2016 12:37
LONDON (Alliance News) - City Natural Resources High Yield Trust PLC on Friday said its share price has bounced back strongly from a five-year low in January but overall it underperformed against its benchmark index in the last financial year and kept its dividend flat.
The trust said its share price fell to 65.0 pence in January and said that was the low "after more than five years" and said it has rebounded strongly since then. That price in January is actually the lowest price for at least 12 years.
The rebound has been strong, with City Natural Resources shares trading up 0.1% on Friday at 116.38 pence per share, 79% higher than the low earlier this year.
Between the end of June 2015 and the end of June 2016, the trust's net asset value rose to 127.38 pence from 121.72p as net assets climbed to GBP85.2 million from GBP81.4 million.
The return per share in the year was 12.0 pence compared to the negative return of 32.60 pence last year. The total return of 10.7% in the year was not as large as the return of 14.2% from the company's benchmark index, which was not named.
The interim payment for the fourth quarter was 3.02 pence to bring the total dividend for the financial year to 5.60 pence, flat from the prior year.
By Joshua Warner; [email protected]; @JoshAlliance
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