Shires Income Keeps Annual Dividend Despite Fall In Net Assets

(Alliance News) - Shires Income PLC on Thursday said its performance deteriorated in its most ...

Alliance News 4 June, 2020 | 11:39AM
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(Alliance News) - Shires Income PLC on Thursday said its performance deteriorated in its most recently ended financial year, with a double-digit decrease in net asset value.

NAV total return for the year to the end of March was negative 18.0%, while the company's benchmark, the FTSE All Share Index, returned negative 18.5% over the same period.

The investment company said NAV per share as at March 31 was 207.39 pence compared to 265.49p a year ago, a 22% decline.

Shires Income's share price at the end of March stood at 200.50p, representing a 3.3% discount to NAV.

The stock was trading 0.5% lower on the day Thursday in London at 237.16p a share.

Shires Income maintained its annual payout at 13.20p a share.

"The impact of the Covid-19 virus has had a significant impact on global markets, and it seems clear that the economic road to recovery will be a long one. Our investment manager's current view is that a return to the level of company profitability prevalent at the end of 2019 may not occur until at least the end of 2022," said Chair Robert Talbut.

Shire Income swung to a pretax loss of GBP13.8 million for the year to the end of March compared to GBP3.1 million profit reported a year earlier.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Shires Income Ord 229.50 GBX -0.65

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