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Scottish American beats FTSE All World return

28 July 2017 09:07

Scottish American Investment Company's (SCAM) net asset value total return for the first six months of 2017 was 10.8% with a share price total return of 10.2%.

The total return on global equities, as measured by the FTSE All World Index in sterling, was 6.3%.

Earnings per share for the six months were 6.22p compared to 5.77p in the same period last year.

The key drivers of growth were an increased allocation to the high-yielding UK property portfolio, steady growth in ordinary dividends and the uplift to overseas income in sterling terms as a result of last year's post-referendum fall in the pound.

Underlying earnings growth was partially offset by a lower contribution from special dividends.

A first interim dividend of 2.725p was paid at the end of June and the second interim dividend of 2.75p is payable at the end of September. The total amount of these dividends, 5.475p, is 1.4% higher than the amount paid for the corresponding period in 2016.

NAV performance exceeded the comparative FTSE All World Index return for the six months to end June 2017 mainly due to strong performance from the equity portfolio.

At 9:07am: (LON:SCAM) Scottish American Investment Company Plc share price was +0.75p at 359.25p

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