Scottish Mortgage Investment Trust Plc (SMT.L) on Thursday reported that its net return after taxation for the year ended 31 March 2019 decreased to 883.28 million pounds from 1.21 billion pounds a year ago. On a per share basis, net return declined to 61.22 pence from 87.00 pence last year.
Net return for the year before finance costs and taxation fell to 913.32 million pounds from 1.23 billion pounds a year ago.
Gain on investments during the year totaled 923.54 million pounds, compared to 1.20 billion pounds last year.
Scottish Mortgage said it Board has proposed paying a final dividend of 1.74 pence which, together with the interim dividend, would give a total of 3.13 pence per share for the year. This is an increase of 2 percent over last year’s 3.07 pence.
However, the company added that as its revenue earnings for the year are insufficient to cover the entire dividend, the balance will be paid from realised capital reserves.
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