20th Jul 2016 17:06
LONDON (Alliance News) - Small Companies Dividend Trust Wednesday saw its net asset value per share rise 8.4% in its most recently ended financial year.
The trust's net asset value per share as at the end of April was 211.95 pence, up 8.4% from 195.46 pence a year before.
It said however that since the year end net asset value per share has fallen to 180.8 pence as the end of June, hit by the Brexit referendum.
Its total return on its net assets, adding back dividends paid in the year, was 12.4%. During the same period the MSCI Total Return Index decreased by 7.4%, and the MSCI Small Cap Index increased by 1.7%.
Small Companies Dividend Trust declared a fourth interim dividend of 2.40 pence, taking its total dividends for the year to 7.5 pence, up from 7.125 pence. It also declared a special dividend of 1.6 pence.
"As time passes it is our belief that our companies, which are in the main UK centric in their trading relationships, will adapt and prosper. We believe that current share prices largely take into account the general market decline since 24th June and the possibility of a shallow recession," the company said in a statement.
The company will change its name to Chelverton Small Companies Dividend Trust PLC from the beginning of August.
Shares in Small Companies Dividend Trust closed up 1.9% at 189.00 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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