24th Mar 2026 11:45
(Alliance News) - CVC Income & Growth Ltd on Tuesday reported a decreased net asset value for its latest year, but said the period was "successful" overall.
CVC Income, which invests in senior secured loans and other sub-investment grade corporate credit, reported a closing NAV per sterling share of 117.26 pence as of December 31, down from 120.05p one year prior. The NAV per euro share was 106.97 cents, down from 109.39 cents.
CVC Income's GBP shares were 0.3% lower at 112.22p on Tuesday in London. Its EUR shares were down 1.4% at EUR1.02 each.
The firm's sterling NAV total return was plus 6.52% for 2025, down from 17.97% for 2024. The total return for euro shares narrowed to plus 4.81% from 16.88%.
The dividend yield for sterling shares increased to 8.68% from 8.63%, while the yield for euro shares declined to 7.00% from 7.32%.
"Due to the continued positive performance of the investment vehicle, the company’s sterling and euro shares have at times traded at a small premium to their nav and the company was able to sell from treasury 55.5 million sterling shares and 3.6 million euro shares during 2025 4, in response to increased demand from retail and institutional shareholders," Chair Robert Kirkby noted.
CVC Income has declared four sterling interim dividends totalling 9.25p per share for 2025, as well as a 0.45p "top up" dividend. This is up from a total of 8.25p for 2024, although the top-up for that year was higher at 1.24p.
For euro shares, the firm's total dividend is 7.25 cents per share for 2025, the same as in 2024, which included a 0.24 cents top-up dividend.
The company, citing its "continued positive performance" and "confidence", maintains its 2026 dividend forecasts at 9.25p per sterling share and 7.25 cents per euro share.
"The company has had another successful year and the board remains positive about future prospects," Kirkby commented. "That said, we are keeping a close eye on the macro environment and geopolitical situations and the impact that these have on the company, its performance and the underlying issuers in which it invests."
By Emma Curzon, Alliance News reporter
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