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BlackRock Smaller Companies Trust sees asset value per share fall 8.7% in H1
StockMarketWire.com
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BlackRock Smaller Companies Trust has announced its new asset value per share fell 8.7% in the first six months of year as its share price dropped 17.1%, according to its interim results.
The net asset value per share fell to 1,435.96p from 1,481.39p in the first half of 2019, underperforming the company's benchmark by 6.5%. The ordinary share price fell to 1,230p compared to 1,410p in the second half of last year. The trust has maintained its first interim dividend of 12.80p per share.
The company's revenue return per share for the six months ended 31 August 2020 fell to just 4.57p per share, a 79% decrease compared with 22.20p for the corresponding period in the previous year. This was because a substantial portion of companies in the portfolio had reduced or cancelled dividends in response to Covid-19.
However, the chairman said in a statement that opportunities were emerging for which the investment manager is well-positioned and prepared.
At 2:56pm: (LON:BRSC) Blackrock Smaller CO Trust PLC share price was +5p at 1325p
Story provided by StockMarketWire.com
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