21st Feb 2025 11:50
(Alliance News) - UIL Ltd on Friday said the US election has resulted in a "dramatic shift" in the country's global relationships, presenting a challenge for investors, as it reported a higher net asset value return for the first half of its financial year.
The closed-end investment company said its NAV total return for the six months to December 31 was 9.3%, up from 4.2% the previous year. However, NAV per share fell to 174.99 pence from 204.04p a year prior.
UIL maintained its second quarterly interim dividend at 2.00p per share and its total half-year payout at 4.00p, unchanged from the previous year.
The closed-end Bermuda-incorporated investment company said that shifting global relations, particularly following the US election, have created a "fundamentally challenging" environment for investors. The firm noted that these geopolitical changes, combined with ongoing economic uncertainty, have increased volatility and impacted valuations across its portfolio.
Shares in UIL were up 0.1% at 115.64 pence in London on Friday morning.
By Eva Castanedo, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights reserved.