LONDON (Alliance News) - TR Property Investment Trust PLC on Thursday lifted it total payout as net asset value total return came in ahead of its benchmark.
The FTSE 250-listed investment company said its net asset value total return was 15.5% for its year ended March 31, performing ahead of the benchmark's return of 10.2%. The benchmark is the FTSE EPRA/NAREIT Developed Europe Capped Net Total Return Index in sterling.
The trust proposed a final dividend of 7.55 pence, taking a full-year dividend to 12.20p, up by 16% from 10.50p the prior year.
Net asset value per share grew 12% year-on-year to 395.64p from 352.42p. Its share price stood at 382.50p at the end of the period, representing a 3.2% discount.
Shares in TR Property were trading 0.2% higher at 411.16p each on Thursday.
TR Property said its investment turnover equated to 31.2% of the average assets over the period, reflecting a "heightened level" of corporate activity in its sphere.
Revenue earnings per share reached 13.22 pence, a 16% increase from 11.38p the year before.
TR Property said it benefited from from healthier economic growth and improved political stability.
"It has been a very good year for the trust, said Chairman Hugh Seaborn. "Performance has been strong in both absolute and relative terms and we have enjoyed healthy revenue growth."
TR Property Investment Trust (TRY)