LONDON (Alliance News) - TR European Growth Trust PLC Friday raised its dividend after it posted increased total assets and net asset value per share for the full year ended June 30 as European equity markets improved.
The company raised its dividend to 6.00 pence, up 33.3% from 4.50 pence in the previous year. It also proposed a special dividend of 2.00 pence each, bringing the total to 8.00 pence.
The company posted a net asset value per share of 492.49 pence each, up from 370.19 pence in the previous year. Total assets were up to GBP282,761, up from GBP204,572 in the previous year.
The company said that under the stewardship of Mario Draghi the European Central Bank had installed confidence in the system again. Although it cautioned that this did not mean the euro crisis was over, it has provided the stability needed so that investors could focus on European companies.
TR European cautioned that disagreements remained between key players in Europe which might re-emerge after the German election. However, stabilisation in the region had brought investors back to the Continent, the company said.
Shares in the investment company were trading down 1.98 pence at 484.02 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @hanassallnews
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