23rd Sep 2025 12:48
(Alliance News) - Gresham House Income & Growth VCT PLC on Tuesday cut its dividend after net asset value declined slightly in the third quarter of 2025.
The London-based investment firm targets the UK's consumer, healthcare & education, and business-to-business sectors. The firm changed its name from Income & Growth VCT back in June.
Gresham House I&G on Monday declared a second interim dividend per share of 2.50p, down from 3.0p a year earlier.
It said the payment of this dividend will reduce NAV per share to 64.09p and increase cumulative dividends paid to 170.50p per share. As of June 30, cumulative dividends paid since inception amount to 168.00p, up from 165.50p at March 31.
Its NAV per share decreased by 1.9% to 66.59 pence at June 30 from 67.88p at March 31. The firm attributed this to an interim dividend payment of 2.50p per share in April, "partially offset by an increase in the unrealised valuation of the portfolio."
According to Gresham House I&G, the NAV per share was up 1.8% when adjusted for the dividend payment on a total return basis.
Realisations during the third quarter included the sale of a holding in SEC Group Ltd to management for a nominal price, and disposal of MyTutorweb Ltd to IXL, which generated completion proceeds of GBP2.8 million, Gresham House I&G said. It also booked GBP4.6 million on the sale of an investment in Rotageek Ltd to Elmo Software.
The firm's shares fell 1.6% to 62.00 pence on Tuesday afternoon in London.
By Holly Munks, Alliance News reporter
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