LONDON (Alliance News) - Alcentra European Floating Rate Income Fund Ltd on Tuesday said its net asset value rose moderately in its recently ended financial year.
The trust posted net asset value per share of 104.55 pence for the year to the end of March, up slightly from 104.14p reported the prior year. Shares price stood at 98.86p at the end of the period.
Shares in Alcentra closed 0.7% lower on Tuesday at 99.60p each.
As a result, the company declared annual dividend of 4.25p per share.
During the year, the company said it maintained share bayback programme to narrow the share price discount to NAV. Alcentra repurchased 11.3 million shares during financial 2018, which helped the trust to limit the discount to less than 5%.
"The board remains confident in the company's portfolio of well-selected, robust credits whilst the investment manager continues to seek opportunities in our markets to add further value," said Chairman Ian Fitzgerald.