30th Sep 2015 15:17
LONDON (Alliance News) - Henderson Global Trust PLC Wednesday said its net asset value matched its benchmark index in the first half of the financial year, leading it to maintain its interim dividend, but the trust said there is little chance of its full year dividend increasing year-on-year.
Although the company matched its benchmark index performance in the period, it did not perform as well compared to its peers, especially its share price which fell in the period when its peers saw a meaningful rise.
The trust said its net asset value per share rose 1.6% to 433.7 pence to the end of July, from 431.3 pence at the end of January. That 1.6% rise matches its benchmark index, comprised 50% FTSE All-Share Index and 50% MSCI World Index ex UK, which rose by 1.6% combined in the period but below the average sector net asset value rise of 3.6% in the period.
Its share price fell 1.2% in the period, which is unfavourable compared to the average sector share price which rose 3.6% in the same period. On Wednesday afternoon, Henderson shares were trading up 0.8% to 347.0 pence.
Henderson maintained its interim dividend from last year at 5.0 pence per share, but said there is little chance of the full year dividend rising compared to last year.
However, the company's net profit in the period fell to GBP2.6 million compared to GBP7.8 million a year ago.
The total return per share is comprised of revenue per share, which rose to 5.39 pence from 5.29 pence, and total capital return which dropped to only 1.5p from 14.42p.
"Six years into the market recovery that started in 2009, we remain constructive on equities and are fully invested. However, we do recognise that we are probably in the latter stages of a market cycle and are mindful not to take undue risk. Given this background the board does not expect to increase the dividend this year," it said in a statement.
By Joshua Warner; [email protected]; @JoshAlliance
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