29th Sep 2015 15:28
LONDON (Alliance News) - TR European Growth Trust PLC on Tuesday said it outperformed its benchmark in the year to end-June, with a total return on net asset value including dividends reinvested of 5.3%.
Its benchmark, the Euromoney Smaller Companies Index, reported a negative total return of 0.4%.
It proposed a final dividend per share of 7.00 pence, up from 6.50 pence last year, and a special dividend of 2.50 pence. In the previous year it proposed a special dividend of 2.70 pence.
The company said it had been a "reasonable year" for European equity markets, helped by signs that economic recovery has begun.
"At a stock level we are starting to see earning upgrades in European smaller companies for the first time in four years, which is clearly very helpful. We are confident that with this backdrop there are still plenty of good investment opportunities in Europe for our fund managers to seek out and deliver healthy returns for shareholders," the company said in a statement.
Shares in TR European Growth Trust were down 1.6% at 560.00 pence late Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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