The B.P Marsh & Partners Group paid a dividend of £0.8m (or 2.22p per share) during the year (2020: £1.7m or 4.76p per share), reflecting a distribution of 100% of the underlying profit from the year to 31 January 2020. The reduced dividend payment reflected the Group's requirement to strike a balance between the need to conserve cash to ensure that it could continue to prosper and develop during the Covid- 19 pandemic and beyond, whilst also rewarding Shareholders for their continuing loyalty. Total shareholder return for the year was therefore 10.1% (2020: 9.8%) including the dividend payment and the Net Asset Value increase.
Due to the continuing Covid-19 pandemic, the Group, having taken into consideration its available cash resources, liquidity and the potential requirements from the investment portfolio, is proposing to declare a dividend of £0.9m (or 2.44p per share), payable on 30 July 2021 to those shareholders registered on 25 June 2021. This dividend represents a distribution of 100% of the underlying realised profits of the Group for the year to 31 January 2021.
Other financial highlights include:
Total Shareholder return of 10.1% for the year including the dividend paid in July 2020
Net Asset Value ("NAV") increased by £13.0m to £149.9m (31 January 2020: £136.9m), a 9.5% increase net of dividend paid in July 2020
Net Asset Value per share increased by 36.3p to 416.4p (31 January 2020: 380.1p)
Consolidated profit after tax of £13.7m (31 January 2020: £12.5m)
One new investment; Sage Program Underwriters Inc. in Bend, Oregon, United States