23rd Nov 2015 12:16
LONDON (Alliance News) - Duet Real Estate Finance Ltd on Monday said it will pay a dividend of 0.30 pence per share for the quarter ended September 30, which takes the total dividends paid on shares issued at the time of its initial public offering in March 2011 to 26.05p per share.
Its unaudited net asset value was 27.52 pence per share on September 30, having been 27.36p on June 30.
"The investment adviser anticipates the current trend of earlier repayments to continue as increased liquidity in the financing markets, the ongoing deleveraging through amortisation of most transactions and the generally rising trend in asset values encourage borrowers to refinance or sell the assets that back the remaining loans in the master fund," Duet Real Estate Finance said.
"Having returned 66.1% of the original capital raised, the board anticipates that the forward-looking income distribution profile of the company may fluctuate driven by the timing of the realisations of the remaining loans in the master fund," Duet Real Estate Finance said.
"With regard to the profile of the remaining investments, and as expected, the general partner of the master fund has elected to extend the life of the fund by one year and one month to January 22, 2017 (the second of two extensions available to the general partner at its discretion)," it added.
Shares in Duet were up 0.6% at 22.89p on Monday shortly after midday in London.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DREF.L