26th Mar 2021 17:45
Albion Technology & General VCT - venture capital trust with portfolio of predominantly unquoted growth and technology businesses - Reports net asset value per share of 69.35 pence at end of 2020, down from 82.58p a year ago. Says that in a tough year, its portfolio companies showed resilience.
"Against the difficult backdrop occasioned by the pandemic, the results for the company show a small total loss of 0.28 pence per share for the year ended 31 December 2020. This is a very creditable performance given the challenging economic conditions of the last twelve months," firm says.
Albion Technology & General paid dividends totalling 12.95p for the year versus just 4.0p in 2019. 2020's payout included special dividend of 9p to maintain its VCT status under HMRC rules following some "very successful" realisations in the prior year. Declares first dividend for 2021 of 1.73p.
Albion Development VCT PLC also reports performance for 2020, with NAV per share falling only slightly to 82.42p at the end of the year from 83.47p a year prior. Says first half was difficult but second half "rather better", with firm benefitting from the resilience of its portfolio in several of its healthcare and software businesses.
Paid dividends totalling 4.24p for 2020, down from 4.50p a year ago. Declares first dividend for 2021 of 2.06p.
Albion Technology & General current stock price: 66.00p
Year-to-date change: up 2.3%
Albion Development current stock price: 78p
Year-to-date change: up 5.4%
By Lucy Heming;Â [email protected]
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