JPMorgan European Investment Trust PLC - invests in continental European companies that have a record of paying sustainable high dividends - Reports total return to holders of Growth shares in the six months that ended September 30 of 11.2%, while total return on net assets for Growth shares is 10.2%. First interim dividend per Growth share is 2.50 pence, up from 1.25p a year ago.
Total return to holders of Income shares is 7.5% and total return on net assets is 7.4%. First, second and third interim dividend per Income share all are 1.40 pence, unchanged. Last month, the trust announced plans to consolidate the two share classes into one. It says on Wednesday it expects to make the change in January or February.
Also hires Karen McKellar as independent non-executive director, starting immediately. McKellar has 28 years of investment management experience in UK equities. She currently is a non-executive director of Merchants Trust PLC. As previously announced, Stephen Goldman will stand down as director by the end of the current financial year on March 31.
Current stock price: income shares 161.98 pence; growth shares 374.00p
Year-to-date change: income shares up 20%; growth shares up 24%
By Tom Waite; thomaslwaite@alliancenews.com
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