(Alliance News) - CC Japan Income & Growth Trust PLC on Friday said it underperformed its benchmark in its recently-ended financial year.
The investment firm said net asset value per share declined as at the end of October 2020 to 136.8 pence compared to 158.9p reported the year before.
The company's share price stood at 119.5p as at the end of October, representing a 12.6% discount to NAV, sharply widened from 5.6% discount at the end of October 2019.
CC Japan Income & Growth Trust shares were trading 3.5% lower in London on Friday at 128.30p each.
Over the financial year to the end of October 2020, and measured by total return, the company's cum-income NAV return was negative 11.1% in sterling terms, while the Tokyo Stock Exchange Price Index was positive at 0.3%.
The trust declared a second interim dividend of 3.20p per share to be paid on March 5. This makes a full year distribution of 4.60p per share, up 2.2% from 4.50p paid the year ago.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Cc Japan (CCJI)