European Assets Trust PLC Dividend Declaration (5539X)
06 Enero 2022 - 1:00AM
UK Regulatory
TIDMEAT
RNS Number : 5539X
European Assets Trust PLC
06 January 2022
To: RNS
From: European Assets Trust PLC ("the Company")
LEI: 213800N61H8P3Z4I8726
Date: 6 January 2022
Dividend announcement
Highlights
-- Total dividends declared for 2022 will be 8.80 pence per
share. This represents an increase of 10.0 per cent from the 2021
dividend of 8.00 pence.
-- Continued policy of six per cent dividend on year-end net
asset value per share for annual distribution to shareholders.
-- Dividend to be paid in four equal instalments of 2.20 pence
per share in January, April, July and October 2022.
-- Share price total return (23.2 per cent in Sterling) and net
asset value total return (16.3 per cent in Sterling) (unaudited)
exceeding the benchmark, the EMIX Smaller European Companies (ex
UK) Index (14.9 per cent) over the year.
Dividend for 2022
The Board is pleased to confirm that the Company's stated
distribution policy of declaring, barring unforeseen circumstances,
an annual dividend equivalent to six per cent of the net asset
value per share at the end of the preceding year will be continued
in 2022.
The net asset value per share increased over the year which will
result in an increase in total dividends payable by the Company for
2022 to 8.80 pence per share. This represents an increase of 10.0
per cent from the 2021 dividend of 8.00 pence per share.
The 2022 dividend will be paid in four equal instalments of 2.20
pence per share on 31 January, 29 April, 29 July and 31 October
2022.
The January dividend payment of 2.20 pence per share will be
paid to shareholders on 31 January 2022, having an ex-dividend date
of 13 January 2022 and a record date of 14 January 2022.
Investment Performance and Review
The Company's net asset value total return (capital performance
with dividends reinvested) per share was 16.3 per cent in Sterling
( 24.0 per cent in Euros) (unaudited) for the year ended 31
December 2021. Sterling share price total return for the year was
23.2 per cent (31.3 per cent in Euros). This compares with the
benchmark, the EMIX Smaller European Companies (ex UK) Index, which
produced a total return of 14.9 per cent in Sterling (22.5 per cent
in Euros).
We are pleased to announce an increase in dividend and a strong
NAV total return ahead of the Company's benchmark in what was
another year of extreme volatility. 2021 was supposed to be a year
of economic driven recovery as the world discarded the restrictions
implemented to deal with COVID-19. Unfortunately, while the markets
have made good progress, economic activity is still heavily
influenced by COVID-19 with the Omicron variant driving a return of
social restrictions at the time of writing.
The year had started with optimism and the first half registered
most of the year's gains. The rest of the year has, however, been
characterised by volatility and uncertainty over both the progress
of the fight against COVID-19 and the policy response to rising
inflation. The debate on the permanency of the latter and its
impact on monetary policy drove wild swings in market leadership.
In addition to an uncertain economic outlook and policy framework,
companies have had to contend with severely challenged supply
chains and rising costs which has held back earnings progress.
Last year's dividend announcement discussed the high levels of
portfolio activity in 2020 which was driven by decisions taken in
response to rare opportunities offered at the height of the
COVID-19 crisis. We are pleased to report that portfolio trading
activity has returned to normal levels. This, we believe, reflects
the confidence we have in our holdings. The portfolio is a
relatively concentrated collection of quality, growth biased
businesses that we believe will prosper over the long term,
irrespective of the uncertainty that we are currently seeing in the
markets.
For further information contact:
Sam Cosh (Investment Manager) Tel +44 (0)207 628 8000
Scott McEllen (Company Secretary) Tel +44 (0)207 628 8000
BMO Investment Business Limited
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END
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