Finsbury Growth & Income Trust PLC on Tuesday reported net asset value growth, raised its dividend, and said a new chair will start in January.
The London-based trust, which invests in shares of predominantly UK-listed companies, said net asset value per share as at March 31 was 932.2 pence, up 4.6% from 891.2p at September 30.
NAV total return slipped to 5.9% in the first half of Finsbury Growth’s financial year from 7.2% previously and underperformed the FTSE All-Share index, whose total return was 6.9%.
Finsbury declared an interim dividend of 8.8p per share, up 3.5% from 8.5p a year ago.
The company noted continuing uncertainty due to global inflation and interest rates, as well as the wars in Ukraine and Middle East and its long-term effects on economies and international relations.
Meanwhile, Chair Simon Hayes said he intended to stand down after the company’s annual general meeting in January next year. He will be replaced by Pars Purewal, who had joined the company’s board in November 2022.
Finsbury shares were 0.9% lower at 848.00p each on late Tuesday morning in London.
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