3rd Apr 2020 16:32
(Alliance News) - SQN Asset Finance Income Fund Ltd on Friday said the net asset value for both classes of its shares declined in the first half of its current financial year.
The stock was 3.1% lower in London at 28.00 pence a share on Friday.
The investment company reported NAV per share of 71.97 pence and NAV per 2016 C share of 97.43p as at the end of 2019 compared to 94.91p and 98.15p, respectively, at the end of June 2019.
SQN Asset Finance declared a dividend of 3.63p per share of each class, having paid 3.02p per share and 2.56p per 2016 C share a year ago.
The company said it has experienced challenges during the second half of 2019, with an extension of the delays already experienced in reaching a steady state position on several of the anaerobic digestion plants, together with the requirement for further investment for them to reach optimisation.
Looking ahead, SQN Asset Finance said the economic environment in which it operates has become more challenging as a result of Covid-19.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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