(Alliance News) - Venture capital trust Maven Income & Growth VCT PLC declared an interim dividend Thursday after net assets improved on valuation uplifts in its portfolio.
For the six months ended August, net asset value per share rose 4.8% to 48.48 pence from 46.25 pence the year prior.
Maven Income said it "made good progress in the first half of the financial year, reporting a further increase in NAV total return. This was principally driven by valuation uplifts, reflecting the positive performance of a number of portfolio companies, and three significant realisations that completed during and shortly after the period end."
Maven Income proposed a 2.00 pence per share interim dividend.
"It has also been a busy period for new investment activity, with GBP2.7 million invested in nine new private and AIM quoted company holdings," Maven Income added. "This is consistent with the strategic objective of building a large and diversified portfolio of private and AIM quoted companies that offer the prospect of capital gain."
"It is encouraging to report that, despite the ongoing political and economic uncertainty, Maven continues to see both a strong pipeline of new opportunities and no discernible impact on the current portfolio holdings," Maven continued.
Shares in Maven Income were untraded at 44.35 pence in London on Thursday.
By Ahren Lester; ahrenlester@alliancenews.com
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Maven Income 1 (MIG1)