18th May 2020 11:44
(Alliance News) - Invesco Enhanced Income Ltd on Monday reported double-digit decline in net asset value in the first half of its current financial year.
The investment company said its NAV per share declined by 16% as at March 31 to 62.1 pence compared to 74.2p recorded at the end of September 2019.
As at the end of March, the company's share price stood at 56.4p, representing a 9.2% discount to NAV.
Invesco Enhanced Income shares were trading 1.7% lower in London on Monday at 65.85p each.
The company maintained its interim payout at 2.50p a share.
"The company's dividend policy remains unchanged and, whilst the board is closely monitoring developments throughout the Covid-19 crisis, it remains confident that the portfolio is in good hands," said Chair Kate Bolsover.
Looking ahead, the company said there are "undoubtedly challenging" times ahead for many companies and default rates are likely to increase.
By Evelina Grecenko; [email protected]
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