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LONDON (Alliance News) - Manchester & London Investment Trust PLC on Tuesday said its net asset value per share increased 2.8% in the six months ended January 31, against a 7.4% fall in the Dow Jones UK Total Stock Market Return benchmark index.
The trust announced an ordinary dividend of 0.40 pence, a first special dividend of 0.46p and a further special dividend per share of 2.10p, totalling 2.96p compared to 4.05p a year earlier. Non-recurring trading income was paid out as special dividends.
"We are fully cognisant that shareholders are disappointed with the decline in our dividend yield over the last few years and we hope to see the aforementioned aggregate amount increase from here and onwards," Chairman Peter Stanley said in a statement.
In his outlook statement, the chairman said: "Performance is improving. We hope that this continues through to the year end."
Shares in the trust were up 0.3% at 231.07p on Tuesday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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