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Amati AIM VCT PLC on Friday reported a drop in its net asset value and lowered its dividend. The Edinburgh-based investment company reported a NAV per share of 94.70 pence for the year ended January 31, down 29% from 132.80p the year prior. NAV total return for its financial year was negative 23%, falling below the benchmark of negative 12%. A year ago, NAV total return was negative 22%. Amati noted that 2023 was ‘undoubtedly one of the most hostile markets for junior AIM companies since the financial crisis of 2008.’ The company declared a full-year dividend of 5.0p per share, down 29% from 7.00p the year before. Amati AIM VCT said: ‘Historically there is evidence that companies that come through this kind of market crisis tend to emerge a good deal stronger. In a falling interest rate environment, it would not take much for market dynamics to become a good deal more positive, and this should benefit our existing portfolio.’ Amati AIM VCT were trading flat at 85.00 pence each in London on Friday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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