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Henderson Far East Income raises dividend, but annual NAV total return falls 9.9%
StockMarketWire.com
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Income fund Henderson Far East Income raised its dividend despite reporting a fall in net asset value total return as high-yielding value stocks fell out of favor.
For the year ended 31 August, net asset value total return performance was fell 9.9%, compared with a fall of 7.7% in the MSCI AC Asia Pacific ex Japan High Dividend Yield Index 7.7% and a 7.9% rise in the FTSE All-World Asia Pacific ex Japan Index.
'Weakness of the NAV performance, although disappointing, is understandable as high yielding stocks have been out of favour compared to more growth orientated companies which are less well represented in the portfolio, the company said.
The share price total return fell 7.8%.
The dividend was raised by 2.7% to 23.00p for the year.
At 8:25am: (LON:HFEL) Henderson Far East Income share price was +6.5p at 293.5p
Story provided by StockMarketWire.com
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