LONDON (Alliance News) - Maven Income & Growth VCT 5 PLC Monday increased its net asset value on positive revenue figures during its full-year.
The venture capitalist trust said its net asset value total return increased to 62.39 pence per share in the year to November 30, 2013 as investment revenues increased 26% to GBP380,000 and uplift in value from a number of quoted and unlisted holdings helped company value.
Maven also recommended an increased final dividend of 1.35 pence per share to be paid on May 30.
Additionally, the company announced an increase in the net asset value of the company to 40.12 pence per share at January 31, with a NAV total return increasing to 65.42 pence per share as a result.
The company said the rise in NAV following the year-end reflects the performance of AIM quoted securities in general and, in particular, certain investments in the company's portfolio within the energy sector.
Maven added that following fund raising during the period and with total assets in excess of GBP22 million, it is now able to invest regularly in larger unit sizes than was previously the case, resulting in increased income flows for the company and a strong pipeline of prospective new transactions, several of which have completed since year end.
VCTs invest in very small companies which are looking for further investment to help develop their business. Investors have become increasingly interested in VCTs as a way of getting a return, as well as to take advantage of tax benefits associated with investing in them.
Maven Income & Growth VCT 5 PLC shares closed down 1.7% at 28.5 pence Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Maven I&g Vct5 (MIG5)