10th Sep 2018 10:07
LONDON (Alliance News) - HgCapital Trust PLC said Monday it delivered a total return of 8.3% as its net asset value per share reached a "new high" in the first half of the financial year.
For the six months to June 30, the investment vehicle managed by Hg, posted net asset value per share of GBP20.59, up from GBP19.32 at the end of December. As of August 31, net asset value per share stood at GBP20.70.
"With the net asset value breaching GBP20 per share, it is perhaps worth noting that when the company last made a placing of new shares, in March 2010, the net asset value per share stood at 937.2 pence," Chairman Roger Mountford said.
He added: "A shareholder who invested at the Offer Price would, by June 2018, have easily more than doubled that investment."
Net asset value total return was 8.3% while the FTSE All-Share Index recorded a total return of 1.7%, the company said.
The company declared an interim dividend of 16 pence per share and anticipates recommending a final dividend of no less than 30p per share to deliver a total annual dividend of 46p.
In a separate statement on Monday, HgCapital said that its manager Hg invested an undisclosed sum in BrightPay, a provider of accounting and HR payroll software in Ireland and the UK.
HgCapital shares were trading up 0.6% at 1,901.50p each.
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