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Murray International Trust PLC on Thursday said it underperformed its reference index in 2024, but upped its dividend as net asset value increased. The Edinburgh-based trust said its net asset value total return was 8.1% in 2024, compared to a 19.8% increase in its reference index, the FTSE All World. Net asset value per share rose 3.6% to 278.4 pence on December 31 from 268.8p at the end of the previous year. The company said the strongest contributor to performance was Broadcom Inc, rising 114% and contributing 2.8% to NAV performance. Murray recommended an unchanged final dividend of 4.30 pence per share. This brought the total payout to 11.80 pence, up 2.7% from 11.50 pence in 2023. The trust’s top ten investments include Cisco Systems Inc, TotalEnergies SE and Verizon Communications Inc. Chair Virginia Holmes said: ‘Our outlook for global equities remains cautious but we are cognisant of pockets of extremely high valuations for example in North American tech that we consider vulnerable and we remain the only global equity income trust portfolio with no exposure to the ’Magnificent 7’. Our focus remains on quality companies with strong balance sheets and high cash generation to support their dividend yields selected through an unconstrained and globally diversified approach that reduces risks and capital volatility for our shareholders.’ Murray International Trust shares were up 0.2% to 268.08 pence in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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