Lowland Investment Co PLC - managed growth and income trust investing mainly in UK equities - Net asset value per share at March 31 stood at 131.9 pence, down 6.5% from 141.1p year-on-year, but up 14% from 115.9p at September 30. NAV total return in the six months ended March 31 was 16.1%, surpassing the FTSE All-Share index benchmark return of 12.3%. Declares second interim dividend of 1.525p per share, unchanged year-on-year. This brings its total half-year dividend to 3.05p per share, same as the prior year. Total dividend for the 2022 financial year was 6.10p per share.
Chair Robert Robertson says: "Generating a reasonable level of growth, while getting inflation under control, is a challenge faced by most economies. We tend to the view that this challenge is fully recognised in UK market valuations...We are therefore looking for growth, particularly from the lower section of the market cap spectrum, to which we would expect Lowland's weighting to increase."
Current stock price: 121.96 pence, up 0.8% in London on Friday
12-month change: down 0.6%
By Emma Curzon, Alliance News reporter
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Lowland Inv. (LWI)