16th Nov 2016 11:00
LONDON (Alliance News) - Princess Private Equity Holding Ltd said Wednesday it has implemented an "exceptional" level of portfolio exits in the year to date and announced a second interim dividend.
Princess Private Equity reported that in the nine months to September 30 its net asset value per share has increased to EUR10.16, a 9.9% total return to date.
The growth in value was driven by a positive 12.4% movement in portfolio valuations over the year to date, offset by a 1.0% negative hit from currency movements.
Princess Private Equity noted it invested a total of EUR41.1 million in its third quarter, and EUR88.8 million in the year to date. Realisations in the third quarter totalled EUR28.3 million, and EUR157.6 million in the year to date.
The company also declared a second interim dividend of EUR 0.27 per share, with total dividends for the year so far at EUR0.54 a share, putting its dividend yield at 5.3% of net asset value at September 30.
"With the ongoing positive trading performance of Princess' portfolio companies the board remains confident that Princess is well-positioned to continue to create value for shareholders. The company has enjoyed an exceptional period of exit activity during the first nine months of 2016, generating sufficient liquidity to fund dividend payments and to re-deploy capital in new investments that the board expects to drive returns for Princess' shareholders in the years to come," said Brian Human, chairman.
Shares in Princess Private Equity were up 1.6% at EUR8.55 Wednesday morning.
By Adam Clark; [email protected]
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Partners Grp E