BMO Private Equity Trust (BPET)

Sector:

Investment Firms

Index:

FTSE Small Cap

 380.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 412.00
  • 52 Week Low: 226.50
  • Currency: UK Pounds
  • Shares Issued: 73.94m
  • Volume: 20,422
  • Market Cap: £280.98m
  • RiskGrade: 301

Rules change encourages F&C Private Equity to boost divi

Date: Tuesday 03 Apr 2012

LONDON (ShareCast) - F&C Private Equity Trust is plannng to take advantage of new tax rules governing investment trusts and beef up its dividend payments.

The new rules allow investment trusts to pay out dividends using money from profits made on sales of assets, rather than just making dividend payments from the pool of money the trust has accumulated from the dividend payments it receives from its investments.

At the end of 2011, F&C Private Equity Trust was sitting on more than £120m of accumulated realised capital profits, money it can now draw on to finance dividend payments.

Accordingly, the board is proposing to adopt a new distribution policy which will provide ordinary shareholders with greater and predictable dividend payments which will be funded from a combination of the company's revenue and realised capital profits. Under the new policy, the company will aim to return 4% of its net asset value (NAV) per annum to ordinary shareholders, paid through two semi-annual dividends following the announcement of the company's annual and interim results. This represents a dividend yield of 6.6% based on the trust's ordinary share price of 150.5p as at 30th March 2012.

The announcement of a new dividend policy was contained in the company's full year results statement, which showed the company achieved a total return net asset value (NAV) of 8.5% on its ordinary shares in 2011.

The firm's total return NAV on restricted voting shares was 8.4%, while flows of distributions from investments during the year totalled £36.1m, 60% higher than during 2010, after the trust experienced a strong year of realisations.

Trust Manager Hamish Mair said: “The company’s long-standing focus on the mid-market, and particularly on Europe, has meant that activity levels have remained strong throughout a severe contraction in the banking sector’s ability to lend and therefore to facilitate private equity buy-outs.

“This, and the close alignment of interest between management and owners of private equity backed companies, provides enduring reasons for investing in private equity.

“There is sound evidence that an upward trajectory has been maintained and we remain confident the company’s NAV will make further strong progress in the year ahead.”

The board has proposed a final dividend of 0.80p per ordinary share.

The share price rose 7.17% to 157.00p.

NR/JH

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BPET Market Data

Currency UK Pounds
Share Price 380.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 412.00
52 Week Low 226.50
Volume 20,422
Shares Issued 73.94m
Market Cap £280.98m
RiskGrade 301

BPET Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.8% below the market average66.8% below the market average66.8% below the market average66.8% below the market average66.8% below the market average
75.15% below the sector average75.15% below the sector average75.15% below the sector average75.15% below the sector average75.15% below the sector average
Price Trend
77.42% above the market average77.42% above the market average77.42% above the market average77.42% above the market average77.42% above the market average
84.78% above the sector average84.78% above the sector average84.78% above the sector average84.78% above the sector average84.78% above the sector average
Income
43.55% below the market average43.55% below the market average43.55% below the market average43.55% below the market average43.55% below the market average
78.74% below the sector average78.74% below the sector average78.74% below the sector average78.74% below the sector average78.74% below the sector average
Growth
99.37% above the market average99.37% above the market average99.37% above the market average99.37% above the market average99.37% above the market average
99.40% above the sector average99.40% above the sector average99.40% above the sector average99.40% above the sector average99.40% above the sector average

BPET Dividends

  Latest Previous
  Q1 Q4
Ex-Div 09-Jul-20 09-Apr-20
Paid 31-Jul-20 30-Apr-20
Amount 3.99p 3.92p

Trades for 27-May-2020

Time Volume / Share Price
14:17 415 @ 365.72p
14:13 846 @ 375.28p
14:02 3,890 @ 359.90p
13:51 1,229 @ 361.00p
11:17 27,136 @ 364.03p

BPET Key Personnel

Chair Mark Edward Tennant

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