LONDON (Alliance News) - British Empire Trust PLC on Friday said it outperformed its benchmark index in the last financial year as it maintained its dividend while adding a special payout for shareholders.
British Empire said its net asset value total return in the year to the end of September was 31%. Its benchmark MSCI All Country World ex-US Index increased by 28% in the same period.
The net asset value at the end of September stood at 670.52 pence per share, rising from 519.53 pence at the start of the financial year.
The dividend for the year has been kept flat at 11.7 pence per share, and a special dividend of 2.8 pence per share will be paid as well.
Revenue per share in the year rose to 14.32p from 11.75p, and total earnings per share were 156.04p compared to a loss per share of 48.2 pence per share a year ago.
"There are an unusually large number of risks for investors at the time of writing. On the geopolitical front, the consequences of the outcome of the US election, the Brexit arrangements to be negotiated, the German, French and other European elections in the year ahead, and the turmoil in the Middle East, are all major uncertainties," said British Empire.
"This year's results have been encouraging and it is important to recognise that we have a portfolio of investments which contains a large store of unrealised value reflected in the considerable see-through discount. Your Board believes that shareholders will continue to be well served over time by maintaining the current value investment approach," British Empire added.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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