30th Mar 2016 15:34
LONDON (Alliance News) - Duet Real Estate Finance Ltd on Wednesday reported a net asset value total return of 8.4% in 2015, up from 5.7% a year earlier, but the total shareholder return fell to 0.8% from 9.0% amid a widening of the share price discount to NAV per share.
A total of 23.51 pence per share was returned to shareholders through B share issues and redemptions in 2015, versus 41.3p a year earlier. In January, a further 14.93p was returned.
The total dividends paid in the year dropped to 2.85p from 6.20p, with the company citing the "significant returns of capital in 2014 and 2015".
Duet Real Estate Finance is a feeder fund invested solely in the European Real Estate Debt Fund LP, the master fund.
"The master fund continues its realisation phase and will continue to receive repayments of or sell off its underlying investments and return capital to the company. The directors intend to continue to distribute such proceeds to shareholders by way of further B share issues and redemptions," Duet Real Estate Finance said in a statement.
Shares in Duet Real Estate Finance were up 5.7% at 14.00 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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