SUMMARY OF UNAUDITED RESULTS FOR THE HALF YEAR ENDED 30 JUNE 2013
Net asset value per share up 12.2% to 401.09 pence
Share price up 10.9% to 355.30 pence
Net asset value per share total return of 13.5%
Share price total return of 12.3%
Net revenue return per share rose 10.6% to 4.71 pence compared with the first half of 2012
Interim dividends of 2.10 pence per share will be paid in August and November 2013, equivalent to a 5.0% increase on the interim dividend of 4.00 pence paid in September 2012.
Dividend
Our total income increased by 7.1% benefiting from the portfolio changes we made in January and good dividend growth. Management expenses have increased in line with market capitalisation and other expenses have reduced. The net revenue return per share rose 10.6% to 4.71 pence compared with the first half of 2012.
We now pay dividends quarterly at the beginning of February, May, August and November. You received an interim dividend of 2.00 pence per share in February 2013 and a final dividend of 2.50 pence in May in respect of 2012. The first interim dividend for 2013 is 2.10 pence and will be paid on 1 August. Second and third interim dividends of 2.10 pence each will be paid in November 2013 and February 2014 respectively. Subject to shareholder approval at the AGM a final dividend of 2.70 pence will be paid in May 2014. The total dividend for 2013 is therefore expected to be 9.00 pence. This would be 5.9% higher than last year's dividend and the forty third consecutive annual increase.
