Triple Point Income Ups Annual Dividend As Net Asset Value Rises

(Alliance News) - Triple Point Income VCT PLC said Monday its net asset value per share rose ...

Alliance News 17 June, 2019 | 6:12PM
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(Alliance News) - Triple Point Income VCT PLC said Monday its net asset value per share rose across its share classes, as it completed the realisation of its ordinary share portfolio.

Over the year to the end of March, the trust's net asset value per ordinary share was none compared to 65.74 pence the year before, as the company completed the realisation of its ordinary share portfolio during the year.

Net asset value per C share as at March 31 rose to 134.58p from 112.84p, NAV per D share was 117.34p compared to 107.98p the prior year, and net asset value per E share increased to 102.56p from 98.32p.

The C share class has investments in three companies in the hydroelectric power sector which between them owns six hydroelectric schemes in the Scottish Highlands.

The D share class has investments in six companies which collectively owns seven hydroelectric schemes, as well as two companies that provides small businesses with funding.

The E share class meanwhile owned the portfolio of investments formally held by the ordinary share class, which range from hydroelectric power, crematorium management and business lending.

Triple Point Income paid a total dividend of 97.87p per ordinary share up from 33.06p the year before, 15.00p per C share from 10.00p, and 10.00p per D share, doubled from 5.00p the prior year.

"The board are pleased with the progress achieved in all share classes and the prompt exit facilitated for the ordinary class shareholders following the end of their five-year holding period. The board and the investment manager are currently working on a substantial capital realisation next year for both the C and D share classes in line with their investment strategies," Triple Point said in a statement.

Triple Point Income's C shares closed untraded at 101.25 pence, while its D shares ended at 95.00p on Monday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Triple Point Income VCT
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