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(Alliance News) - Aberforth Split Level Income Trust PLC on Monday edged its interim dividend higher and reported a rise in net asset value during the first half of its financial year.
In the six months to December 31, net asset value per share rose 18% to 102.34 pence from 86.70p at June 30.
The company reported a total return of 17% during the period, compared with negative 17% last year.
During the first half the Numis Smaller Companies Index returned 13%.
Aberforth Split proposed an interim dividend of 1.51p per share, 4.1% higher year-on-year from 1.45p.
The trust said: "As 2018 drew to a close, pessimism reigned as trade wars clouded the global outlook and the Brexit process was mired in uncertainty. Twelve months on, the strong gains enjoyed by equity markets attest to a rediscovered optimism. The received wisdom is now that Donald Trump will act in a rational fashion to conclude a "great" deal with the Chinese as he enters the election year.
"At home, one of the extreme political outcomes has been avoided and the expectation in the immediate aftermath of the election was that Boris Johnson, now free of the Brexit hardliners, would use his majority to cultivate a softer form of Brexit."
Shares in the company closed 3.8% lower at 88.00 pence each in London on Monday.
By Eric Cunha; ericcunha@alliancenews.com
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