30th Jul 2024 12:36
(Alliance News) - Scottish American Investment Co PLC said it is bullish about the second-half of the year as inflation abates.
Scottish American invests mainly in equity markets, but also holds other investments including bonds, property and other asset classes.
It reported a net asset value of 545.0 pence per share at the June 30 half-year end, up 3.9% from 524.5p at December 31.
The NAV total return was 5.5% for the first-half of 2024, easing from 7.8% a year before. Scottish American noted that NAV total return lagged the broader equity market, with global equities returning 12% over the same period.
It declared a second interim dividend of 3.55p, up 2.9% from 3.45p a year before.
Looking ahead, it said: "With UK inflation trending down towards 2%, we are optimistic that income growth from SAINTS' investments should once again allow the board to increase the dividend at a rate above inflation."
Scottish American shares were down 0.1% at 523.26p each in London on Tuesday afternoon.
By Lydia Doye, Alliance News reporter
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