Law Debenture Hikes 2020 Payout Even As Net Assets Decline

(Alliance News) - Law Debenture Corp PLC on Friday said it outperformed its benchmark in 2020 ...

Alliance News 26 February, 2021 | 9:17AM
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(Alliance News) - Law Debenture Corp PLC on Friday said it outperformed its benchmark in 2020 despite lower net assets.

The London-based investment trust said its share price total return for 2020 of 13% outperformed the FTSE Actuaries All-Share Index.

Law Debenture increased its dividend by 5.8% to 27.5 pence per share from 26.0p paid in 2019.

The company noted that its revenue increased by 8.5% year-on-year to GBP34.5 million and earnings per share were up 9.5% to 9.35p on the prior period, reflecting consistent growth under new management team.

Net asset value per share slipped, however, by 5.1% year-on-year to 666.15p as at the end of 2020.

"Both the long and short-term performance of our investment portfolio remains strong," said Chief Executive Denis Jackson. "We still see opportunities to grow revenue and earnings significantly over time."

Law Debenture shares were trading 3.2% lower in London on Friday at 701.00p each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Law Debenture Corporation Ord 815.00 GBX -0.12

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