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IN BRIEF: Henderson Eurotrust Beats Benchmark Thanks To Stock Picking

Fri, 2nd Oct 2020 12:23

Henderson Eurotrust PLC - European investor which does not invest in UK companies - Outperforms benchmark in financial year ended July 31, with net asset value total return of 10.4%, while its FTSE World Europe excluding UK benchmark posted a negative 2.8% return. NAV per share as at July 31 GBP13.93, up from GP12.94. "Vast majority" of Henderson Eurotrust's performance driven by stock picking. Lowers total financial 2020 dividend per share to 25.0 pence from 31.0p the year before. Will use GBP637,000 of revenue reserve in order to pay dividend.

Chair Nicola Ralston: "Despite the problems of unpredictable lockdowns and new outbreaks of Covid-19, the fund manager continues to identify opportunities for putting money to work in new holdings, to the extent that the company is modestly geared. The speed and extent of a recovery in dividends remain uncertain but shareholders will benefit from our decision to use the revenue reserve to pay dividends in excess of those earned, over the next several years."

Current stock price: 1,272.76p

Year-to-date change: up 7.4%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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