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(Alliance News) - Scottish Mortgage Investment Trust PLC on Thursday upped its dividend for its recently-ended financial year amid a jump in net assets.
The Edinburgh-based investment company said revenue earnings per share for the year to the end of March were 0.62 pence - this represents a reduction on last year's 1.55p per share revenue, following a decline in income received from portfolio companies.
Gains on investments, meanwhile, jumped to GBP9.27 billion from GBP1.02 billion the year before, resulting in net return per share of 632.84p from just 66.10p the year ago. Net asset value surged to 1,195.1p from 567.3p year-on-year.
Scottish Mortgage's largest investments include WeChat owner Tencent Holdings Ltd, e-commerce giant Amazon.com Inc and electric car maker Tesla Inc.
"A small number of big winners have a dramatic impact on investment returns. It is not an anomaly that Tesla has contributed so much to the portfolio this year. It is a predictable consequence of the structure of stock market returns," the company said.
The company said the total dividend for the year will be increased by 5.2% to 3.42p.
"Investment opportunities are likely to remain plentiful as companies increasingly use digital tools to revolutionise industries and build a sustainable future. Scottish Mortgage is well placed to give you access to these transformational growth companies," said Senior Independent Director Justin Dowley.
"We remain confident that Scottish Mortgage merits a place in all portfolios," added Dowley.
Scottish Mortgage Investment Trust shares were trading 1.2% lower in London on Thursday at 1,065.75p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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