(Alliance News) - Aberdeen Standard Equity Income Trust PLC on Tuesday said its performance deteriorated in the first half of its current financial year.
The investment company reported a 32% decline in NAV per share to 280.38 pence as at March 31 compared to 411.83p at the end of September 2019.
The company said its first financial half started well, with December proving to be a particularly strong month for performance as UK domestic holdings rallied strongly on the decisive Conservative election majority won in the general election that month.
However, Aberdeen Standard Equity Income portfolio's performance deteriorated markedly from mid-February as the full consequences of Covid-19 started to become apparent. UK domestic stocks, which investors had been buying for a recovery following the election, fell sharply.
The trust's share price at the end of March stood at 262.00p, representing a 6.6% discount to NAV.
The stock was trading flat on the day in London on Tuesday at 265.00p a share.
Aberdeen Standard Equity Income paid a first interim dividend of 5.2p in March and now has declared a second interim dividend of 5.2p, bringing total dividends for the six months to March 31 to 10.4p per share, an increase of 6.1% on the 9.8p paid a year before.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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