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.
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.
Read More News:
British Airways owner IAG eye dividend return
AO World shares up as online retailer swings to profit
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.
