17th May 2019 11:33
LONDON (Alliance News) - Princess Private Equity Holding Ltd on Friday upped its interim dividend, reflecting strong performance in the first quarter.
The investment company reported net asset value of EUR11.51 per share, representing a total return of 5.6% for the three months to the end of March.
"Princess continued to develop positively during the first quarter of 2019, with performance driven by strong EBITDA growth at portfolio company level," said Chair Richard Battey.
The trust noted that valuation developments were the key driver of NAV growth. Amongst the largest contributors to NAV growth were digital product engineering services provider GlobalLogic, Action, property firm Foncia, Permotio and online shopping company Vishal Mega Mart.
Princess Private Equity's share price total return in the first quarter was 14.6% as equity markets recovered from the volatility and declines seen in the fourth quarter of 2018.
The company declared an interim dividend of EUR0.29 per share compared to 0.28 per share paid a year earlier.
"Following the positive NAV performance, and reflecting its confidence in the prospects for the portfolio, the board is pleased to announce an increased interim dividend," added Battey.
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