Henderson European Focus Trust plc Board Recommends Final Dividend, Payable on February 6, 2015; Jean Claude Banon to Stand Down from the Board; Reports Audited Earnings Results for the Year Ended September 30, 2014
December 10, 2014 at 08:54 pm IST
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Henderson European Focus Trust plc announced that the Board is recommending a final dividend of 17.45 pence per share which, subject to shareholder approval. When added to the interim payment of 6.0 pence this brings the full year dividend to 23.45 pence, an increase of 10.1% over last year's distribution. The dividend will be paid on 6 February 2015 to shareholders on the register on 5 January 2015. The shares will be marked ex-dividend on 2 January 2015.
Jean Claude Banon has indicated to stand down from the Board with effect from the close of the annual general meeting in 2015.
The company reported audited earnings results for the year ended September 30, 2014. For the year, the company reported net return on ordinary activities after taxation of £21,010,000 or 120.52 pence per share against £33,546,000 or 198.27 pence per share a year ago. Net return on ordinary activities before taxation was £21,520,000 against £34,098,000 a year ago. Income from investments was £5,149,000 against £5,573,000 a year ago. Net cash inflow from operating activities was £3,196,000 against £1,560,000 a year ago. Net asset value per ordinary share was 956.66 pence as on September 30, 2014 against 861.48 pence as on September 30, 2013. Net debt was £13,110,000 as on 30 September, 2014 against £16,858,000 as on 30 September, 2013.
Henderson European Focus Trust plc is a United Kingdom-based closed-end investment company. The Companyâs investment objective seeks to maximize total return (a combination of income and capital growth) from a portfolio of stocks listed in Europe. The Company predominantly invests its portfolio in stocks listed in Continental Europe. The portfolio contains between 35 to 45 stocks, with a single stock weighting of 10% of the net asset value (NAV) of the portfolio at the time of investment. The Company's geographical focus includes France, Germany, Netherlands, Finland, United Kingdom, Belgium, Denmark, Switzerland, Sweden, Norway, Italy and Spain. The Company also invests in a range of sectors, including Industrials, Basic Materials, Consumer Discretionary, Health Care, Energy, Technology, Consumer Staples, Financials, UK Government Bonds and Utilities. Its alternative investment fund manager is Janus Henderson Fund Management UK Limited.
Henderson European Focus Trust plc Board Recommends Final Dividend, Payable on February 6, 2015; Jean Claude Banon to Stand Down from the Board; Reports Audited Earnings Results for the Year Ended September 30, 2014