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(Alliance News) - Bankers Investment Trust PLC said on Monday it outperformed its benchmark in the first half amid an "eventful" period.
The trust's net asset value per share at April 30 stood at 929.90 pence, up from 868.70p at the same date a year earlier. The company's NAV total return over the six month period to April 30 was 8.7%, outperforming the FTSE World Index return of 6.9%.
The positive returns "disguise that the period was quite eventful", the company said.
"There was pessimism regarding the resolution of the ongoing US-China trade dispute, as well as concerns that there would be further US interest rate rises in 2019 and fears that the next recession may be closer than many had previously anticipated," Bankers Investment Trust explained.
The firm paid a first interim dividend of 5.10p in May and has declared a second interim dividend of 5.10p.
"I am pleased to be able to reiterate, on behalf of the board, a forecast of dividend growth of approximately 6% for the current financial year, resulting in aggregate dividends for the year of 20.9p," said Chair Sue Inglis.
Shares in Bankers Investment Trust closed up 1.6% at 952.04p in London on Monday.