ICG Enterprise Trust PLC on Thursday reported improved performance in the three months that ended October 31, including growth in net asset value and a higher dividend.
The London-based investor in North America and Europe buyouts said NAV per share as of October 31 was 1,997 pence, up 2.6% from 1,946p at the end of July, delivering a 3.0% NAV total return for the third quarter. Over the past five years, annualised NAV total returns have reached 14%
ICG declared a third-quarter dividend of 8.5 pence per share, up 6.3% from 8.0p a year prior.
The board said it intends to pay at least 35p in total dividends for the full year, compared to 33p in financial 2024. In the first and second quarter of the current financial year, its paid both a 8.5p quarterly dividend.
The company also updated on its share buyback program, repurchasing 488,000 shares throughout the third quarter at a weighted average discount to NAV of around 37%.
ICG said portfolio activity during the quarter included £35.2 million in new investments and £34.4 million in proceeds from 12 full exits, which delivered an 18% uplift to carrying value and a 4.0x multiple to cost.
Looking ahead, the board has renewed the opportunistic share buyback program for financial 2026, authorising up to £25 million in purchases.
Shares in ICG Enterprise Trust were marginally higher at 1,334.18 pence each on Thursday morning in London.
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