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Annual Results

Bankers Investment Trust NAV up

18 January 2016 14:20

Bankers Investment Trust's net asset value rose by 5.7% in the year to the end of October.

The dividend rose by 6.8% - the 49th consecutive year of dividend increases. The company has forecast an increase in the 2016 dividend of at least 4.4%.

Chairman Richard Killingbeck said: "I sounded a cautionary tone in my 'Outlook' section last year regarding the prospects for stock markets making much progression against a backdrop of growing global macro-economic uncertainty.

"Despite this uncertainty I am pleased to able to report that our Fund Manager and his team, through a combination of judicious stock selection and asset allocation, have been able to add significant value against virtually every local market index in which Bankers' assets are invested (the only exception being the small asset allocation to emerging markets).

"This is an excellent result for shareholders and reflects the disciplined focus of the investment team in regard to stock selection and upon medium to longer term investment themes and trends."

He added: "Special dividends have continued to help our revenue account this year and this, alongside strong underlying dividend growth across the portfolio, has enabled the Board to recommend a final quarterly dividend of 4.0p per share. If approved by shareholders, this will result in a total dividend payment of 15.8p per share, an increase of 6.8%. This is a pleasing outcome and should be viewed against my forecast last year of an increase of at least 4%. Our earnings per share for the period were 17.22p."

At 2:20pm: (LON:BNKR) Bankers Investment Trust Plc the share price was +2.5p at 583.5p

Story provided by StockMarketWire.com

Related Company: BNKR

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