Monday, 20 January 2014

Bankers IT - Final Results

The Bankers Investment Trust seeks to maximise returns for shareholders through a broadly diversified international portfolio. I previously posted on this last June following the half-year results.

They have just released final results for the full year to 31st October 2013.(link via Investegate)

Bankers is proposing a final dividend of 3.6p per share, taking the full-year total to 14.13p - an increase of 6% on the previous year and the 47th year of consecutive increases. The trust has also forecast a dividend per share of ‘not less than’ 14.7p per share for the year ahead.

Over the past year Bankers has returned 27.9%, compared with an average of 22.1% from its AIC Global sector and 18.5% from the MSCI World index. This performance has been the key catalyst for the significant reduction in the discount to which the shares traded at during the year, resulting in a share price return of 33.9%.

For the first time since 1994, 350,000 shares were issued in the last year at a premium to net asset value, and since the year end they have issued a further 400,000 shares. This has pushed the trusts market cap to £680m.

I am very happy to continue holding this in my income portfolio of trusts, even allowing for the dividend yield having reduced to around 2.5%.

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