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Interim Results

Dunedin Smaller Cos beats index

15 June 2015 07:21

Dunedin Smaller Companies Investment Trust's net asset value per share rose by 11.9% in the six months to the end of April while FTSE SmallCap Index (excluding investment companies) rose by 10.4% on a total return basis.

The share price rose by slightly less, rising from 181.0p to 196.9p. The stronger US economy coupled with the lower oil price have been notable factors in providing a favourable backdrop for the company's portfolio during the six months.

Chairman Norman Yarrow said: "Good underlying earnings growth saw the revenue return per share for the period increase to 3.17p from 2.51p for the six months ended 30 April 2014, which has helped provide the Board with the confidence to declare an increased interim dividend of 2.15p (2014 - 2.10p) per share. The dividend will be paid on 24 July 2015 to shareholders on the register on 3 July 2015."

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Related Company: DNDL

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