HgCapital Trust ups dividend as NAV rises, outperforms FTSE All-Share

(Alliance News) - HgCapital Trust PLC on Monday reported it beat its benchmark as its net asset ...

Alliance News 12 September, 2022 | 7:20AM
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(Alliance News) - HgCapital Trust PLC on Monday reported it beat its benchmark as its net asset value rose.

Net asset value per share at June 30 was at 443.2 pence, up 19% from 373.4p a year ago. Since late June, NAV grew a further 1.0% to 447.5p as at August 31. A year ago, NAV had remained virtually flat in the same two months, as its NAV was 373.3p at August 31, 2021.

The London-based investment vehicle provides shareholders access to the unquoted businesses managed by Hg.

HgCapital Trust posted an NAV total return of 1.8% in the first six months of 2022, while the share price total return was negative 21%. In the same period, the total return of the FTSE All-Share index was negative 4.6%.

HgCapital Trust declared an interim dividend of 2.5p per share, up 25% from 2.0p a year ago.

Regarding its future, Head of Research David Toms said: "Increasingly, we see this environment as one of opportunity, as short-term valuations create space for greater long-term performance for those who have and will continue to maintain a disciplined approach and strategy."

HgCapital Trust said its portfolio companies have a positive trading outlook, benefiting from recurring revenue and "pricing power". Further, the trust said it has an "attractive pipeline of investment opportunities".

HgCapital Trust shares were up 2.6% at 378.00 pence each in London on Monday morning.

By Tom Budszus; tombudszus@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
HgCapital Trust Ord 535.00 GBX -0.56

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