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Investment trust Caledonia Investments raised its dividend despite reporting a fall in net assets as capital losses owing to the Covid-19 pandemic hurt positions in its portfolio.
For the year ended 31 March, net asset value total return fell 8.1% on-year as the company recorded capital losses of £207.5m, compared with a profit of £163.6m last year.
The private equity portfolio return fell 18.0% for the 12 months, while the quoted equity portfolios return, slipped 0.3% over the year, compared with an 18.5% slump in the FTSE All-Share index.
The company proposed a final dividend of 44.5p per share, providing a full-year dividend of 61.1p per share, an increase of 3.0% over last year.
At 8:13am: (LON:CLDN) Caledonia Investments PLC share price was +45p at 2690p