Edison review on Standard Life Equity Income Trust

RNS Number : 1577C

Standard Life Equity Income Tst PLC

17 January 2018

 

London, UK, 17 January 2018

Edison issues review on Standard Life Equity Income Trust (SLET)

Standard Life Equity Income Trust (SLET) has been managed by Thomas Moore since 2011. He aims to generate above-average income and real capital and income growth from a portfolio of UK equities, which is invested across the market cap spectrum. Following an index-agnostic approach, the manager has restructured SLET's income stream over the past few years and shareholders are now enjoying a higher distribution, with less revenue going into reserves. The board has recently announced a higher than previously forecast final dividend for FY17 and says the annual dividend in FY18 will be at least 5% higher than the FY17 distribution. SLET's current dividend yield is 3.5%.

SLET's current 3.7% share price discount to cum-income NAV is close to the low end of the 1.8% to 10.8% range over the past 12 months. It compares with the averages of the last one, three, five and 10 years (range of 2.7% to 5.5%). The discount has been in a narrowing range since March 2017. SLET's FY17 dividend is 11.0% higher than in FY16 and represents the 17th consecutive year of increased annual distributions; its current dividend yield is 3.5%.  

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