14th Sep 2022 14:51
Blackrock Latin American Investment Trust PLC - Latin America-focused investor - Net asset value falls as the Latin American region faces macroeconomic challenges. NAV per share falls to 459.10 US cents at June 30 from 496.28 US cents a year prior. Ordinary share price in US cents at a negative 4.0%, underperforming against its MSCI EM Latin America index, which posts negative 0.6%. However, its share price in UK pound sterling posts a positive performance of 7.2%.
Declares dividend of 5.74 US cents for quarter to June 30, down from 7.82 cents a year ago, bringing it to a total dividend of 13.50 US cents for the six month period, down from 14.79 cents. For the year ended June 30, total dividend drops to 26.27 US cents from 27.69.
"After a challenging year in 2021, markets in the Latin American region saw a very strong start to 2022. Higher commodity prices and historically cheap currencies have helped to cushion Latin America from the global economic headwinds over the first half of the year," Chair Carolan Dobson states.
"Moving into the second half of 2022, the region faces the challenges of sharply rising core inflation and political uncertainty. In particular, uncertainty over the outcome of the upcoming presidential election in Brazil, by far the largest component of the benchmark at circa 70%, has depressed markets and valuations are at unprecedented lows," Chair Dobson adds.
Current stock price: 383.00 pence, down 1.5% on Wednesday
12-month change: up 6.0%
By Tom Budszus; [email protected]
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