11th Mar 2016 08:56
LONDON (Alliance News) - Maven Income & Growth VCT 3 PLC on Friday said its net asset value increased in its last financial year as it benefited from profitable realisations, valuation uplifts and investment income from its portfolio.
The fund said its net asset value at the end of November was 91.1 pence per share, up from 86.5p a year earlier. Its net asset value total return for the year was 7.9%.
The company said the total return was driven by four profitable realisations from the portfolio, increases in the valuations of existing holdings and solid investment income. It added another five private equity investments to its portfolio.
The realisations included cash drawers maker Cash Bases, environmental services firm Steminic, cloud computing company Six Degrees Group, and oil and gas consultancy XPD8 Solutions, all of which were disposed of at a profit.
Maven said it will pay an increased final dividend of 3.75p, up from 3.5p a year earlier, taking total dividends to 5.75p, up 4.5% year-on-year.
Shares in the trust were up 0.6% to 81.75p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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