10th Sep 2014 15:36
LONDON (Alliance News) - Murray Income Trust PLC said Wednesday that it outperformed its benchmark in the year to June 30, and raised its total dividend.
The investment trust posted a total return on net asset value per share of 14.0%, compared to a 9.4% total return from its benchmark, the FTSE All-Share Index.
It proposed a total dividend of 31.25 pence, up from 30.75 pence in the previous year.
The company said that, as a Scottish-registered company it is "mindful that there is uncertainty arising in relation to the referendum on Scottish independence due on 18 September 2014."
It said it considers a vote in favour of independence will prolong this uncertainty. However, it noted that its shares would continue to be listed on the London Stock Exchange and its dividends will continue to be paid in sterling if a 'Yes' vote were to occur.
The trust said that a key element in its returns has been a contribution from government financial policy.
"Governments worldwide, almost without exception, have run very easy monetary policies and tight fiscal policies, even if in some cases the latter has been more of an aspiration than a fact. This has been very supportive of asset prices even if it has operated with very long lags in its stimulation of economic growth," the company said in a statement.
Shares in Murray Income Trust were trading own 0.3% at 768.50 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Murray Income Trust