1st Aug 2024 10:41
(Alliance News) - F&C Investment Trust PLC on Thursday announced it aims to increase its total dividend for 2024 after a strong first half driven by increased returns in equity markets.
F&C Investment is a London-based investment trust. It invests primarily in an international portfolio of listed equities.
F&C Investment reported a 13.2% net asset value total return for the first half of 2024, above its 12.0% benchmark.
NAV per share increased by 12% to 1,145.47 pence on June 30 from 1,022.07p on December 31.
F&C Investment shares were down 0.6% to 1,050.00p each in London on Thursday morning.
Looking forward, F&C Investment said it aims to increase the total dividend for 2024 from 14.7p the prior year.
The firm noted that it paid the first interim dividend for 2024 of 3.6p per share on Thursday.
Chair Beatrice Hollond commented: "Equity markets delivered strong returns in the first half, led by technology stocks which were driven by robust earnings growth and ongoing enthusiasm relating to Artificial Intelligence. I am pleased to report that the Company produced a net asset value total return of 13.2%, outperforming the return of 12.0% from our benchmark."
By Lydia Doye, Alliance News reporter
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