Albion Development VCT PLC Highlights Growth in Financial Report
Albion Development VCT PLC Financial Report Overview
Albion Development VCT PLC
LEI Number: 213800FDDMBD9QLHLB38
The Company is excited to share its Half-yearly Financial Report covering the period up to 30 June 2024. This report showcases key financial achievements that illustrate the Company's steady growth and resilience in the investment landscape.
Key Financial Highlights
In this period, the Directors of Albion Development VCT PLC are pleased to report several impressive achievements:
Impressive Total Return
The Company recorded a total return of 9.50 pence per share, marking a 10.7% increase from the opening net asset value. This is a significant increase compared to the previous year, where the total return was only 5.15 pence per share.
Strong Net Asset Value
The net asset value saw a rise to 95.91 pence per share. This is an increase from 88.70 pence per share reported at the end of December of the last year, reflecting a strong performance in the market.
Impressive Fund Size Growth
Albion Development VCT PLC has experienced considerable growth in its fund size, which increased to £142.8 million, up from £119.6 million recorded at the end of the previous year. This growth emphasizes the confidence investors have in the Company’s strategy and management.
Consistent Dividend Payments
During this period, the Company paid a dividend of 2.22 pence per share, consistent with the previous year’s dividend, highlighting its commitment to rewarding shareholders.
Profitable Investment Realization
Additionally, the Company successfully sold its investment in Egress after the close of the reporting period, achieving returns over seven times its initial cost, a testament to the successful investment strategies of Albion Development VCT PLC.
Upcoming Dividends
The Board has also announced plans for future dividends, including a second dividend of 2.40 pence per ordinary share, set to be paid to shareholders on 30 September 2024. Furthermore, a special dividend of 3.00 pence per share is scheduled for payment on 25 October 2024, ensuring that shareholders continue to benefit from the Company’s profitability.
Summary of the Financial Report
The Half-yearly Financial Report for the six months up to June 30, 2024, illustrates a robust financial standing for Albion Development VCT PLC. Details of this report can be found on the Company’s webpage.
Contact Information
For further inquiries, members of the public and investors can reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP, by calling 020 7601 1850. The Company remains open to communicating with shareholders and interested parties regarding its performance and strategy moving forward.
Frequently Asked Questions
What are the total returns reported by Albion Development VCT PLC?
The Company reported a total return of 9.50 pence per share, reflecting a significant 10.7% increase on the opening net asset value.
How much is the net asset value of the Company?
The net asset value of Albion Development VCT PLC stands at 95.91 pence per share, showing growth compared to the previous year's figure of 88.70 pence per share.
What dividend has been declared by the Board?
The Board has declared a second dividend of 2.40 pence per ordinary share, as well as a special dividend of 3.00 pence per share.
What is the current size of the fund?
The fund size has increased to £142.8 million, which is a significant rise from the previous period's £119.6 million.
Was there any significant investment sale during the period?
Yes, the Company completed the sale of Egress after the reporting period, realizing returns that were over seven times the initial cost.
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