|
Securities Trust of Scotland PLC on Friday said it produced a net asset value total return of 17% in the last financial year despite a drop in revenue.
Securities Trust of Scotland is an investment trust managed by Troy Asset Management that aims for income and capital growth from global equities.
For the financial year that ended on March 31, the company saw a net asset value total return of 17%, compared to a 10% return from the Lipper Global - Equity Global Income index.
NAV per share as at March 31 increased to 230.75 pence from 202.68p the same date a year prior.
Revenue for the year was £7.4 million, down 19% from £9.1 million in the previous year.
Securities Trust Chair John Evans said: ‘The year to [March 31] proved to be a remarkably eventful period that commenced with a sustained recovery from the economic effects of the Covid pandemic before concerns regarding rapidly rising rates of inflation and the required policy response across the G7 began to dominate financial markets. Against such an uncertain background it is pleasing to be able to report positive returns for the year.’
The company declared a fourth quarter dividend of 1.75 pence per share. The total dividend for the year is 5.88p per share, up 3.1% on the dividend of 5.70p per share paid the prior year.
Securities Trust shares were up 0.9% at 228.93 pence each on Friday afternoon in London.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
