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Annual Results

Mercantile reports lower FY EPS

27 March 2015 13:38

The Mercantile Investment Trust has announced its results for the year ended 31st January 2015 which showed that earnings per share reduced over the year, from 47.5p to 42.1p, following lower revenue against the previous year.

This reduction has resulted from changes in the portfolio, a lowering of special dividend receipts and the level of gearing employed.

Additionally, the company said that over the year, performance was slightly disappointing.

The Managers marginally underperformed the Company's benchmark with a return of 4.4% against 4.6% for the benchmark. Share price total return was -0.7%.

The Company has paid three interim dividends of 8.0p per ordinary share, and the Directors have declared a fourth quarterly interim dividend of 17.0p, giving a total dividend of 41.0p for the year, an increase on last year's dividend of 40.0p.

At 1:38pm: (LON:MRC) Mercantile Inv Tst share price was -7.5p at 1552.5p

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