10th May 2018 14:51
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC said Thursday its net asset value per share increased in the first quarter.
Dunedin's net asset value per share at March 31 was 451.9 pence, a 2.6% increase from 489.2p at the end of the previous quarter. But down from 506.1p a year before.
Dunedin plans to pay a final dividend of 5.5p per share on May 17, subject to shareholder approval. This is a large decrease from the 17.5p final dividend paid a year ago.
Within the Dunedin managed portfolio the largest valuation increases were at Red, up GBP1.2 million; Realza, up GBP900,000, and Pyroguard, up GBP800,000.
These valuation increases were offset by a reduction in the valuation of CitySprint by GBP900,000.
The company's managed investments dropped to GBP59.2 million from GBP80.0 million the year before.
Dunedin "remains committed" to maximising shareholder value through an "orderly wind-down process". This will be achieved, Dunedin said, by either the "judicious and timely sales of fund interests on the secondary market" or by "continuing to hold these interests if this is likely to provide a better return to shareholders".
Shares in Dunedin Enterprise were up 2.7% at 380.00 pence each Thursday afternoon.
Related Shares:
Dunedin Ent.it.