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Law Debenture Corporation raises annual dividend as returns top benchmark
StockMarketWire.com
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Investment trust The Law Debenture Corporation reported annual returns that topped its benchmark.
For the year ended 31 December 2020, share price total return for 2020 was 12.9%, outperforming the FTSE Actuaries All-Share Index, its benchmark by 22.7%.
The FTSE All-Share benchmark fell 9.8%.
The company reported a pre-tax profit of £4.1 million, down from £131.4 million last year.
The annual dividend was increased by 5.8% to 27.5 pence per ordinary share.
'Revenue increase of 8.5% and earnings per share are up 9.5% on prior period, reflecting consistent growth under new management team, funding over a third of the increased 2020 full year dividend,' the company said.
'Continued strong performance from the independent professional services business supports dividend growth,' it added.
Story provided by StockMarketWire.com
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