27th Apr 2020 16:01
(Alliance News) - EJF Investments Ltd on Monday reported a rise in net assets in 2019, and edged its payout higher.
Net assets climbed 5.7% to GBP121.0 million at December 31, from GBP114.5 million. Per share, net asset value climbed 6.2% to 189 pence from 178p.
Shares in the company were 1.8% lower at 135.00p each in London on Monday afternoon.
"In a year which saw continued market volatility, political uncertainty, notably in the UK, and increasing trade tensions the company maintained its robust performance," EJF said.
It reported a total return just shy of 12%, ahead of its target range of 8% and 10%.
EJF upped its dividend by 5.2% to 10.700 pence from 10.175p.
The company added: "The Covid-19 pandemic is causing substantial movements and volatility in all markets with the long term impact on the global economy expected to be substantial. The directors believe it is currently not possible to understand or quantify the full extent of the impact of the Covid-19 pandemic and therefore consider its impact on the company to be an uncertainty."
By Eric Cunha; [email protected]
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