28th Aug 2014 14:11
LONDON (Alliance News) - Shares in Jupiter Dividend & Growth Trust PLC jumped Thursday, after it said its net asset value outperformed its benchmark in the six months ended June 30.
The UK-based investment trust said total assets less current liabilities of the company fell by 0.2% to GBP49.2 million, compared to its benchmark index, the FTSE All-Share Index, which fell by 0.3% during the same six months.
The company's net asset value of common shares increased by 3.4% to 120.32 pence, including income and expense, from 116.07 pence.
The net asset value of zero dividend preference shares also rose 3.4%.
"We remain confident that the UK economy will continue to improve, if only because the government's priority is to keep the feel-good factor intact for next summer's general election. Our equity positions are in companies we believe have the potential to deliver consistent performance and rising dividends," the company said.
Shares in the trust were up 13.5% at 5.25 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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Jupiter Dividend & Growth Trust PLC