Maven Income & Growth VCT 5 "encouraged" but net asset value falls

(Alliance News) - Maven Income & Growth VCT 5 PLC on Friday said that it was "cautiously optimistic" for 2024, after delivering a modest set of results for the past financial year.

Maven Income & Growth VCT 5 is a venture capital trust, managed by Maven Capital Partners.

At the end of Maven Income & Growth VCT 5's financial year ended November 30, its net asset value per share was 32.53p per share at year-end, down 8.1% from 35.40p.

Maven has proposed a 1.10p final dividend, more than doubled from financial 2022's final 0.50p dividend. This brings the annual payout to 1.85p per share, down from 3.50p a year before.

Maven Chair Graham Miller said: "[The company] is encouraged by the underlying progress that has been achieved in the period under review and is cautiously optimistic in the outlook for the year ahead. As interest rates and inflation start to moderate, market confidence is expected to improve, which should result in a healthy rate of new investment during 2024."

Shares in Maven went untraded in London on Friday, last quoted at 30.60 pence each.

By Hugh Cameron, Alliance News reporter

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