Alliance Trust reports steady performance in first half as it increases dividends by 62%
Reading time: 2 minutes
Gregor Stewart
Alliance Trust has published its 2022 Interim Report and announced its second interim dividend for 2022.
Despite the share price contracting from 1032p as at 31 December 2021 to 904p as at 30 June 2021, the trust reports steady performance for these market conditions and has decided to increase its dividend payments.
The second 2022 interim dividend payment will be 6p bringing the total of the first two interim dividends paid for 2022 to 12.0p, representing an increase of 62% on the same payments for 2021 from 7.4p.
Gregor Stewart, chairman of Alliance Trust PLC, said: “This continues the increase in the level of our dividend announced in 2021. The dividend yield as at 30 June 2022 was 2.4%.
“This level of dividend is well supported by the Company’s investment strategy and significant distributable reserves which stood at over £3.3 billion at 30 June 2022.
“We are one of a handful of investment trusts that has been able to increase its total ordinary dividend for 55 consecutive years. This is a record of which the Board continues to be proud and expects to extend.”
Mr Steward added: “Our diversified, high conviction approach protected shareholders from the worst of the first half falls, resulting in performance slightly ahead of our benchmark and significantly ahead of the AIC global sector average.”
Financial Highlights
|
| As at 6 months to 30 June 2022 | As at 12 months to 31 December 2021 | As at 6 months to 30 June 2021 |
| Share Price | 904.0p | 1032.0p | 993.0p |
| NAV per Share | 964.0p | 1090.0p | 1064.6p |
| NAV Total Return | -10.5% | 18.6% | 14.8% |
| Total Shareholder Return | -11.3% | 16.5% | 11.1% |
| Total Dividend | 12.000p | 19.050p | 7.404p |
| MSCI ACWI | -11.0% | 19.6% | 11.1% |
Performance Highlights
- For the six months to 30 June 2022, the Company’s Net Asset Value (NAV) Total Return was-10.5% outperforming its benchmark, the MSCI All Country World Index (MSCI ACWI) which returned -11.0%
- Along with others in the sector, the Company’s discount widened; this resulted in the Company’s Total Shareholder Return (TSR) being lower than the NAV Total Return at -11.3%
- Interim dividend of 6.0p, an increase of 62% year on year and reflecting the significant increase in the dividend introduced in 2021
Share this article:
Subscribe to our newsletter to not miss articles like this one:
SUBSCRIBE
