(Alliance News) - JPMorgan American Investment Trust PLC on Thursday said its net asset value grew in the first half of 2020.
The investment company reported a total return on net assets per share in sterling terms over the period of 2.7%. The return to shareholders per share in sterling terms was 0.3%.
The total return from the company's benchmark, the S&P 500 Index in sterling terms, was 3.8%.
NAV per share as at June 30 stood at 515.7 pence, up from 480.8p reported a year prior and 504.8p on December 31, 2019.
During the period, the company bought into treasury a total of 4.0 million shares or 1.9% of its issued share capital at the beginning of 2020. These shares were purchased at an average discount to NAV of 5.4%, producing a modest accretion to NAV for continuing shareholders.
JPMorgan American said it is aiming to pay out a total dividend for the financial year of at least 6.5p per share, unchanged from that paid in respect of the 2019 financial year.
The company declared a dividend of 2.5p per share for the first six months of 2020, flat year-on-year.
The stock was trading 0.8% lower in London on Thursday at 508.00p a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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JPMorgan American (JAM)