Lindsell Train Investment Trust PLC - London-based investment trust with stakes in blue-chip firms such as Unilever PLC and Mondelez International Inc - Proposes a 6% higher dividend despite net asset value dropping by 6.1% per share over a year. March 31 net asset value at £1,113.81 versus £1,185.58 a year prior. Net asset value total return is minus 2.3%, underperforming its benchmark’s positive return of 15%.
‘The company‘s NAV total return suffered a second year of disappointing relative performance as compared to its recently introduced equity benchmark - the MSCI World index in Sterling,’ firm says.
Proposes dividend of £51.12 per share versus £47.07 a year ago. Special dividend £1.88 per share compared to £2.93 a year ago. Total dividend £53 versus £50 a year ago.
‘Viewed objectively the outlook for the company’s investments could not be more uncertain. The war in Ukraine, the pandemic, supply chain issues and the associated logistical challenges, the rise in commodity prices, inflation and rising interest rates all spring to mind as material risks to the value of equities,’ explains Chair Julian Cazalet.
Current stock price: £1,030.00, down 3.1% on Thursday
12-month change: down 28%
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