24th May 2018 14:38
LONDON (Alliance News) - Standard Life Equity Income Trust PLC said Thursday its net asset value performed worse than its benchmark in the six months to March-end.
Standard Life Equity net asset value total return was down 4.3%, which compares to the FTSE All-Share Index falling 2.3%. The investment company said this due to the change in "sentiment towards equity markets".
The company's net asset value per share decreased 6.3% to 448.70 pence from 478.63p per share the previous year. Standard Life Equity's net assets also decreased 6.3% to GBP220.6 million from GBP235.3 million.
The company increased its first half dividend by 16% to 8.80p per share from 7.60p the year before. Standard Life Equity said its third quarterly dividend will be 4.40p and a final dividend of "at least" 5.50p per share.
Looking ahead, Standard Life Equity believes its prospects "are good". Despite the "very unsettled" political background in the UK and wider world, the business of the companies Standard Life Equity has invested in are "performing well".
The company "strongly endorses" its portfolio manager's strategy.
Shares in Standard Life Equity Income were down slightly at 500.00 pence each Thursday.