7th Sep 2020 16:54
Gresham House Strategic PLC - AIM-listed smaller-companies investor headquartered in London - Proposes to increase dividend target for financial year ending March 2021 to 27.5 pence per share. New target represents a 20% increase over its financial 2020 dividend instead of the 15% increase previously announced. Long-term, firm still plans to grow its dividend at 15% per annum in future years in keeping with its intention to return a sustainable proportion of its realised profit. The firm's annual general meeting will take place on September 17.
"The board has confidence in the current portfolio and its ability to continue to deliver strong NAV growth in future years. We have recently acquired several new investments during this opportunity-rich period of economic disruption which the investment manager believes have excellent medium-term prospects for capital growth. Furthermore, GHS has shown that it can exit large positions, like IMI Mobile, to crystallise those returns for shareholders," says Chair David Potter.
Current stock price: 965.25 pence
Year-to-date change: down 24%
By Anna Farley; [email protected]
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