LONDON (Alliance News) - Maven Income and Growth VCT 5 PLC Friday said its net asset value total return was up 7.3% over the year to end-November 2014.
The company's NAV total return was 66.95 pence at the year end, compared with 62.39 pence the year before. Its net asset value at the end of the period of 39.50 pence per share was higher than last year's 37.09 pence.
The NAV total return is a measure of shareholder value that includes both the current NAV per share and the sum of dividends paid to date.
"Total investment revenues are up 55% to GBP0.59 million in the period and this income, together with the uplift in value of a number of quoted and unlisted holdings, has resulted in NAV total return increasing to 66.95p per share as at 30 November 2014," said Chairman Allister Langlands in a statement.
The company proposed a 26% increase in its final dividend for the year of 1.70 pence, up from 1.35 pence last year, bringing total dividends for the year to 2.5p per share, an increase of 25.% over the prior year.
"Further progress has been made in achieving the objective of improving shareholder returns by rebalancing the portfolio to include a broad base of income generating private companies, whilst reducing the exposure to AIM," Langlands added.
During the year, the company added 12 new investments to its portfolio, while the income from its investments increased by 55% over the prior year.
Shares in the company were trading 0.4% higher Friday afternoon at 36.89 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Maven I&g Vct5 (MIG5)