Register
Login:
Share:
Email Facebook Twitter

Michael Masterman talks on WRES potential & Tungsten market Watch here

Michael Masterman talks on WRES potential & Tungsten market


Alliance News


Seneca Global Income & Growth To At Least Maintain Quarterly Dividend

Fri, 10th Jun 2016 11:39


LONDON (Alliance News) - Seneca Global Income & Growth Trust PLC on Friday said it plans to "at least" maintain quarterly dividend payments at 1.52 pence per share in the year ending April 2017, barring unforeseen circumstances.

The trust paid a fourth interim dividend of 1.52p on Friday. When added to the three preceding interim dividends, that produced a total dividend of 5.93p per share for the year ended April 30, 2016, an increase of 4.6% on the prior year's 5.67p.

"At a time when UK equity income is under considerable pressure as many very large companies have cut or have signalled their intention to cut their dividends, your company seems particularly well placed in that its income is generated from a wide variety of sources. Indeed, less than 30% of its income derives from UK equities and even that is predominately from mid-sized companies rather than the very large," Chairman Richard Ramsay said in a statement.

The trust reported a net asset value total return of 0.8% in the year ended April 30. The benchmark 3-month London Interbank Offered Rate plus 3.0% returned 3.7%.

The trust, which considers it "more appropriate" to measure performance over a longer time frame, said it generated a NAV total return for the three years ended April 30 of 18.4% compared to 11.2% from the benchmark.

"This success has been recognised in a variety of ways," Ramsay said. The shares moved to a small premium at the end of the financial year form a discount to net asset value of more than 7% at the start.

"The resulting 9.3% share price total return is indicative of the increasing recognition that your company has received from both investors and from independent observers," Ramsay said.

Shares in Seneca Global Income & Growth were down 0.1% at 146.00p Friday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2016 Alliance News Limited. All Rights Reserved.

Alliance News


Related Shares:


Back to Alliance News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.