10th Dec 2019 18:32
(Alliance News) - Henderson Diversified Income Trust PLC on Tuesday said it was ahead of benchmark in the first half of its current financial year amid a 6.9% increase in net asset value.
The investment firm reported NAV per share as at October 31 of 89.95 pence, up from 84.15p a year prior.
As a result, Henderson outperformed its benchmark, the Libor plus 2%, with NAV total return of 6.3% over the first half versus 1.4%, respectively.
The trust's share price at the end of the first half stood at 86.90p, representing a 3.4% discount to NAV.
The stock closed 0.7% lower in London on Tuesday at 91.22p a share.
Henderson said it had paid a first interim dividend of 1.10p per share at the end of September and has on Tuesday declared the second payout of 1.10p, which will be paid at the end of 2019.
"The maintenance of the dividend is our central assumption. However, we would caution that should yields in the medium term fall further, the manager may be faced with the stark choice of increasing risk or reducing income. In such circumstances the board would not rule out a cut to the dividend in order to avoid excessive risk to capital," said Chair Angus Macpherson.
By Evelina Grecenko; [email protected]
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