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Investment trust Caledonia Investments increased its interim dividend after reporting a jump in first-half profit thanks to stronger investment performance.
For the six months ended 30 September 2020, pre-tax profit increased to £195.8 million from £100.7 million year-on-year as net asset value total return rose 10.4%.
Caledonia said its quoted equity portfolio returned 22.2%, its private capital portfolio returned 1.0%, while its funds returned 15.7% following good underlying performance from Asian funds.
Portfolio realisations totaled £27m and included £14m from fund distributions and redemptions, the company said.
The interim dividend was increased by 2.4% to 17.0p per share.