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IN BRIEF: Octopus Apollo VCT NAV up slightly but total payout halves

26th May 2023 17:31

Octopus Apollo VCT PLC - London-based investor in higher-risk smaller businesses which brought a product or service to market - Net asset value per share at January 31 grows 6.0% to 53.2 pence from 50.2p a year prior. Total return contracts to 11.2% from 13.6%. Proposes final dividend of 1.3p, unchanged from a year prior. However, total dividend is 2.6p, less than half of 5.7p a year ago. Company hails "great resilience" in light of macroeconomic headwinds, citing high inflation and rising interest rates, the war in Ukraine, political uncertainty, and bank instability. Looking ahead, company says: "The ongoing need for exciting, high-growth companies to raise funding for growth provides ample opportunity to make successful future investments in line with the existing now proven strategy."

Current stock price: 50.50 pence, up 2.8% on Friday

12-month change: up 8.4%

By Tom Budszus, Alliance News reporter

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