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LONDON (Alliance News) - Personal Assets Trust PLC on Thursday kept its dividend unchanged despite an increase in net asset value per share.
The investment company said its NAV total return for the year to the end of April was positive 4.3%. In comparison, the trust's benchmark, the FTSE All-Share Index, returned negative 1.4%.
NAV per share as at April 30 stood at 40,488 pence, up from 38,821p reported on the same day a year ago.
The company's shares were trading 0.1% higher on Thursday morning at 41,300.00p a share.
Personal Assets Trust paid four interim dividends of 140p during the year and declared the first interim dividend of 140p a share for its recently-started financial year, which will be paid on July 12. For the year to the end of April 2020, the company expects to pay a total dividend of 560 pence, unchanged year-on-year.
"The twelve months to April 30 was very much a game of two halves with the UK stock market falling sharply from its peak last May, followed by a rally since the calendar year end," explained Personal Assets Investment Adviser Sebastian Lyon.
Looking ahead, Lyon added: "Earnings from financials, airlines, housebuilders and miners may well be close to cyclical peaks, while structurally challenged businesses are to be avoided as they will likely prove to be wasting assets."