9th Jul 2014 09:54
LONDON (Alliance News) - The Independent Investment Trust PLC Wednesday said its net asset total return outperformed its benchmarks in the first half of the year.
The trust reported a net asset total return of 5.2% for the six months to May 31. Its benchmark indexes, the FTSE All Share Index and the FTSE World Index, were up 4.8% and 4.0% respectively.
The trust said its net asset value per share rose to 298.1 pence over the period, up from 287.2p, while its share price increased to 272.5p from 268.5p.
The trust declared an interim dividend of 2p per share, unchanged.
"Current indications are that earnings for the full year will be ahead of last year's earnings, but the board is unlikely to propose an increased final dividend. Instead, it expects to propose a special dividend to accompany a maintained final," said Chairman Douglas McDougall in a statement.
Shares in the trust were up 0.5% at 275.94 pence Wednesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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