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29 Mar 2019 | 09:26

Merchants Trust ups dividend despite posting loss in volatile market

Stock picker Merchants Trust swung to an annual loss, as the value of its investment portfolio slumped.

Pre-tax losses for the year through January amounted to £31.9m, compared to profits of £74.8m on-year.

The company's net asset value return was negative 5.2% compared with the benchmark total return of negative 3.8%.

It declared a final dividend of 6.6p, bringing the full-year payout to 26.0p, up 4.8% on-year.

'This has been an unusual year in which investment markets have been particularly volatile, reflecting a succession of macroeconomic concerns and geopolitical factors,' the company said.

'Merchants' overall performance has been driven by sharp moves in individual shares, especially at the smaller market cap level.'

At 9:26am: (LON:MRCH) Merchants Trust Plc the share price was +1.5p at 487.5p

Story provided by StockMarketWire.com
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