Income & Growth VCT PLC - London-based venture capital trust - Posts lower half-year net asset value while portfolio value rises. Net asset value per share falls to 98.79 pence at March 31 from 100.45p at September 30. Portfolio value however rises to GBP89.4 million at March 31 from GBP88.2 million at October 1. Firm declares an interim dividend of 4.00p per share for the year ending September 30, bringing the cumulative dividends paid to 144.50p per share. In the last financial year, firm paid out a total dividend of 9.00p.
"The majority of the portfolio has continued to trade well and deliver value growth," says Chair Maurice Helfgott. Expects uncertainties from Covid-19, Brexit, supply chain issues, inflation and the war in Ukraine. "Nonetheless, your board considers that your company is well-positioned to adapt as necessary," he adds.
Current stock price: 94.00 pence, up 2.2% on Wednesday
12-month change: up 13%
By Tom Budszus; tombudszus@alliancenews.com
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Inc&gwth Vct (IGV)