19th May 2014 13:22
LONDON (Alliance News) - RIT Capital Partners PLC Monday said its diluted net asset value per share was 1,350 pence as of April 30, representing a 1.4% decline in the year to that point.
RIT, which is chaired by Lord Rothschild, paid a 14.7 pence dividend during the period and intends to pay a further 14.7p in October. This represents an increase of 5% on dividends paid in 2013.
RIT is a self-managed investment trust whose corporate objective is to deliver long-term capital growth, while preserving shareholders' capital; and to invest without the constraints of a formal benchmark, but to deliver for shareholders increases in capital value in excess of the relevant indices over time.
The share price increased by 46p to 1,306p in the period to April 30. Including dividends, this represented a share price total return of 4.8% for the period.
The share price discount to NAV per share narrowed to 3.2% as of April 30, from 9.0% at the year end.
RIT has more than doubled its NAV and share price over the last ten years. A shareholder who invested in RIT at inception will have seen a share price total return of 12.5% per annum.
RIT shares were Monday quoted at 1,283 pence, down 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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