Blackrock Smaller Companies Trust PLC - FTSE 250-listed investment trust focused on smaller UK quoted companies - On Tuesday, says net asset value per share with debt at par value is 1,450.15 pence as at February 29, down 6.6% from 1,553.41p a year prior. Final dividend however is 27.0p per share for financial 2024 ended March 31, up from 25.50p, and bringing the total payout to 42.00p, 5.0% higher than 40.00p paid for financial 2023.
Chair Ronald Gould says: ‘These results should be seen in the context of continued and significant market volatility, which persists in an ongoing high interest rate environment, fuelled by heightened geo-political risk, with the ongoing conflict in Ukraine and tensions escalating in the Middle East. Looking forward, there are also several significant elections in 2024, notably in the UK, US and Europe, with a range of outcomes, all of which could impact market volatility and sentiment.
‘Against this turbulent backdrop, the company’s portfolio is weighted towards companies with well capitalised balance sheets and entrepreneurial management teams that are able to rapidly adapt their businesses to the shifting market dynamics. As such we believe your company is well-positioned and prepared to take advantage of the investment opportunities that lie ahead despite the uncertain market conditions.’
Current stock price: 1,480.00 pence each, closed 0.3% lower on Friday in London
12-month change: up 11%
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