20th Feb 2019 14:24
LONDON (Alliance News) - Temple Bar Investment Trust PLC said it underperformed its benchmark in 2018 following a fall in net asset value.
During the year Temple Bar's net asset total return was negative 11.2%, underperforming the total return of the company's benchmark, the FTSE All Share Index, which returned negative 9.5%.
The investment company's NAV per share declined to 1,199.56p from 1,400.22p reported at the end of 2017.
The stock was trading 0.1% lower on Wednesday at 1,266.24p a share.
Temple Bar declared a final dividend for 2018 of 20.47p per share, which will bring its total dividend payment for the year 10% than the year before. In 2017, the company paid out 41.66p.
"We continue to face several political and economic risks over the short to medium term, not least the ramifications of Brexit negotiations," said Chair Arthur Copple.
"Through maintaining our approach of investing in a diversified portfolio of mainly UK domiciled companies and with strict adherence to a value-based approach we believe that Temple Bar can continue to prosper, notwithstanding future uncertainties," added Copple.
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Temple Bar Investment Trust