Albion Development VCT PLC Financial Report Overview
Albion Development VCT PLC
LEI Number: 213800FDDMBD9QLHLB38
The Company is pleased to present its Half-yearly Financial Report for the period ending 30 June 2024. This report highlights significant financial accomplishments that demonstrate the Company's ongoing growth and resilience in a dynamic investment environment.
Key Financial Highlights
During this period, the Directors of Albion Development VCT PLC are delighted to announce several remarkable achievements:
Impressive Total Return
The Company achieved a total return of 9.50 pence per share, reflecting a 10.7% increase from the net asset value at the beginning of the period. This is a notable jump compared to last year's total return of just 5.15 pence per share.
Strong Net Asset Value
The net asset value has risen to 95.91 pence per share, up from 88.70 pence per share at the end of December last year. This increase highlights the Company's solid market performance.
Impressive Fund Size Growth
Albion Development VCT PLC has seen substantial growth in its fund size, which now stands at £142.8 million, a rise from £119.6 million reported at the end of the previous year. This growth reflects the strong confidence investors have in the Company's strategic approach and management.
Consistent Dividend Payments
The Company maintained its commitment to shareholders by paying a dividend of 2.22 pence per share during this period, which is consistent with the previous year's dividend.
Profitable Investment Realization
Moreover, after the close of the reporting period, the Company successfully sold its investment in Egress, achieving returns more than seven times its original cost. This illustrates the effectiveness of Albion Development VCT PLC's investment strategies.
Upcoming Dividends
The Board has also announced plans for upcoming dividends, including a second dividend of 2.40 pence per ordinary share, scheduled to be paid on 30 September 2024. Additionally, a special dividend of 3.00 pence per share is set 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 ending 30 June 2024, showcases a strong financial position for Albion Development VCT PLC. More details can be found on the Company’s webpage.
Contact Information
If you have any questions, 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 is open to communicating with shareholders and interested parties about its performance and future strategy.
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, which indicates a notable 10.7% increase from the opening net asset value.
How much is the net asset value of the Company?
The net asset value of Albion Development VCT PLC is currently 95.91 pence per share, showing growth from 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 and a special dividend of 3.00 pence per share.
What is the current size of the fund?
The fund size has grown to £142.8 million, a substantial increase 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 exceeded seven times the initial cost.
