Brunner Investment Trust PLC said that it had produced another year of positive shareholder returns against a backdrop of ‘volatile stock markets in uncertain economic conditions’.
The London-based investment trust, with holdings in Microsoft Corp and Visa Inc, reported total returned earnings per share of 95.17p for the year ended November 30, up 11-fold from 8.49p in 2022.
Brunner’s total net assets were valued at £528.2 million at November 30, up 6.3% from £497.1 million a year prior.
Net asset value per share was 1,237.2p, up 4.9% from 1,178.7p a year prior.
Brunner’s final dividend of 6.05p brought the total annual dividend to 22.7p, up 5.6% from 21.5p a year prior.
This makes 2023 the 52nd consecutive year in which Brunner has increased its dividend payments to shareholders, earning it a spot in the ‘dividend heroes’ list of the Association of Investment Companies.
Brunner said that 2023 proved to be ‘another year of volatile stock markets in uncertain economic conditions’, but stated that its portfolio is constructed ‘with a focus on high quality companies that are expected to perform well over the long term’.
Looking ahead, Brunner noted that the geopolitical landscape is likely to remain volatile, with 64 national elections expected in 2024 alongside two major ongoing conflicts.
However, Brunner said that such circumstances provide ‘a good hunting ground’ for stock pickers who are able to focus-on long-term opportunities over immediate volatilities.
Shares in Brunner were down 0.3% at 1,207.00 pence each in London on Wednesday morning.
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