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BP Marsh & Partners PLC - venture capital investor in financial services businesses - Launches share buyback worth up to £1.0 million to reduce the current share price discount to net asset value. BP Marsh says it will buy shares only up to a price equivalent to a 20% discount to its most recent NAV of 499.0 pence per share, which would be 399.2p. BP Marsh notes it has authority to buy up to 3.7 million shares, conferred at its annual general meeting in July last year.
Also declares 1.39p interim dividend and says its ‘aspiration’ remains to pay a total dividend for the financial year ending on January 31 of £1.0 million. Last year it paid 2.78p per share total dividend and said it aimed to maintain that level of dividend for the next two financial years.
Current stock price: 322.00p, up 2.9% in London on Monday
12-month change: down 3.6%
By Tom Waite, Alliance News editor
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