Edinburgh Investment Trust plc are proposing the same payment of 7.5 pence per share for the final dividend, which is paid this summer. Assuming this proposal is approved by shareholders at July's AGM, total dividends for the financial year as a whole will be 28.8 pence per share. This will represent an increase of 5.9% compared with the previous year and is comfortably in excess of the rate of UK inflation which was 2.3%, ensuring that they meet the second of their investment objectives.
This year's dividend is funded largely by the portfolio's natural underlying income. Overall, the Company generated earnings per share of 25.0 pence. They are content that a modest draw on capital is sustainable.
Other financial highlights include:
The Company's NAV rose 8.3% over the period under review
The share price rose 11.3% to 740p (2024: 690p)
Share price discount to NAV narrowed to 9.4% from 11.5%, following the Company's active share buyback programme, enhancing the NAV by 0.4%
Ongoing charges ratio reduced to 0.51% from 0.53%, helped by a lower investment management fee
The Company's NAV and share price returns are ahead of the benchmark over three and five years to 31 March 2025
