Category Market News

Utilico Emerging lifts dividend as NAV rises

Emerging markets investment trust Utilico lifts dividend as net asset value rises 7.5 percent in challenging first half.
Mark Rogers

Mark Rogers

Utilico Emerging Markets Trust (LSE: UEM) announced a higher interim dividend on Tuesday as its net asset value (NAV) improved over the six months to September.

The FTSE All-Share listed investment trust said its NAV rose 7.5% to 261.58p per share from 243.29p a year earlier. The NAV was also up 4.3% from 250.91p at the end of March.

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Utilico’s NAV total return per share swung to a gain of 6.0% from a 2.8% decline last year. The company declared an interim dividend of 4.30p per share, up 3.6% from 4.15p.

Chair John Rennocks said the half-year was challenging amid rising rates, robust inflation and global conflicts. But he expects emerging market “megatrends” to continue accelerating.

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Rennocks said the need for supply chain resilience, energy security and defence capabilities will create opportunities.

On Tuesday, Utilico Emerging shares were unchanged. The stock is up 4% year-to-date and 9.5% over the past year.

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