Alliance Trust holds AGM at V&A Dundee, reports strong financial performance
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Gregor Stewart
At its 135th AGM held at V&A Dundee, Alliance Trust reported outperforming competitors with a net asset total return of -7.1% and a total shareholder return of -5.8% in a challenging year for global equity markets.
The firm’s average total shareholder return surpassed its peer group’s -23.2% and the benchmark index’s -8.1%.
The company extended its dividend increase track record to 56 years, with 2022’s dividend payment covered by income from its multi-billion-pound portfolio. However, chairman Gregor Stewart warned that the same level of income might not continue in 2023, but the company has £2.9 billion in distributable reserves to fund dividend payments.
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