15th Jul 2025 10:57
Polar Capital Global Financials Trust PLC - managed by Polar Capital LLP, aims for growing dividend and capital appreciation from investments in financial sector - Net asset value on May 31, the end of trust's financial half-year, is 212.89 pence per share, up 2.5% from 207.66p on November 30 and up 15% from 184.98p a year before. NAV total return in the half-year is 3.5%, compared to 2.5% for its benchmark, the MSCI all country world index financials net total return index. Total net assets of the FTSE 250 listing are GBP645.5 million on May 31, up 2.5% from GBP629.8 million in November.
Polar Capital Global Financials declares a first interim dividend of 2.60p per share, up from 2.50p a year before. It also declares a special dividend of 1.60p. The trust explains the special dividend is "to absorb surplus income available for distribution, following the reduction in issued share capital following the recent tender, and to ensure the company continues to retain investment trust status by distributing at least 85% of revenue".
Chair Simon Cordery comments: "The performance of the financials sector proved extremely resilient in the period, in stark contrast to global equities." He adds: "This is a large and diverse sector that continues to trade on an attractive valuation relative to the wider market and to growth sectors such as technology. The sector is in good health and the outlook for earnings, including a less restrictive regulatory backdrop, remains positive."
Current stock price: 212.78p, up 0.6% in London on Tuesday
12-month change: up 25%
By Tom Waite, Alliance News editor
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