24th Sep 2015 10:51
LONDON (Alliance News) - The Merchants Trust PLC Thursday said it outperformed the FTSE 100 Index in the half year to end-July, reporting a 1.3% return on net asset value per share.
The FTSE 100 Index reported a total return of 1.2% for the half year.
Merchants Trust proposed a second quarterly dividend of 6.0 pence per share, in line with its first quarterly dividend, up 1.7% over the payments it made in the first half of the previous year.
"The UK economy is gradually recovering, with a similar picture in the USA and some improvement in Europe, although emerging markets are more difficult. Recent weakness has brought the equity market to a cheaper level, with our manager able to identify a greater number of promising investment opportunities across a range of sectors. The company remains focused on delivering long term dividend and capital growth, through investing in a diversified portfolio of predominantly large cap UK equities," the trust said in a statement.
Shares in Merchants Trust were flat at 417.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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