5th Oct 2018 14:24
LONDON (Alliance News) - Henderson Eurotrust PLC on Friday hiked its annual payout following a rise in net asset value.
The company increased its final dividend to 22.5p per share from 18.0p paid the year prior, taking the total payout for the year to 30.5p, up 22% year-on-year.
Net asset value total return in the year to the end of July was 6.8%, compared to a total return from the benchmark index, the FTSE World Europe ex UK Index, of 5.8%.
Net asset value per share improved on July 31 to 1,246.7 pence from 1,192.8p reported the same date a year earlier.
The stock was trading 0.2% lower on Friday at 1,097.70p per share.
Share price discount to net asset value stood at 8.2% at the end of the year, compared to 3.3% discount the year before. However, the company noted that its share price discount continued to widen and reached 11% on Thursday last week.
"Not only the company, but most companies in our peer group, are now trading on discounts in the region of 10%," said Chairman Nicola Ralston.
"European equities have fallen out of vogue in the eyes of many UK investors," Ralston explained.
No shares were issued or bought back during the year, Henderson Eurotrust said.