30th May 2023 09:02
(Alliance News) - Edinburgh Investment Trust PLC on Tuesday reported an increase in its net asset value per share and noted an "attractive" outlook.
The Edinburgh-based investment trust, which invests primarily in UK securities, said its NAV per share at March 31 was 713.75 pence, up 3.9% from 686.69p a year prior. NAV total return was 7.9%, exceeding the FTSE All-Share Index of 2.9%. Edinburgh Investment Trust said NAV outperformance was driven by its stock selection and the revaluation of its long-term debt.
Edinburgh Investment Trust declared a final dividend of 6.7p per share, up 4.5% from 6.4p, bringing the total dividend for financial 2023 to 26.20p per share, up 5.6% from 24.80p a year prior.
Looking ahead, Edinburgh Investment Trust said it is "well-positioned" to deliver "attractive" total returns as it focuses on investing and maintaining a diversified portfolio.
Chair Elisabeth Stheeman said: "Despite the ever-uncertain economic outlook, there is enthusiasm about the underlying prospects for the stocks in the company's portfolio."
Shares in Edinburgh Investment Trust were up 0.3% at 662.00p each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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