Edison issues review on Lowland Investment Company

RNS Number : 0683U

Lowland Investment Co PLC

24 July 2020

 

London, UK, 24 July 2020

Edison issues review on Lowland Investment Company (LWI)

Lowland Investment Company (LWI) invests across the UK market capitalisation spectrum, seeking a combination of capital and income growth. Although its smaller-cap bias and value-orientated investment approach mean it has underperformed in recent years, managers James Henderson and Laura Foll at Janus Henderson Investors remain confident in the ability of well financed, well managed companies in areas such as engineering and insurance to recover and grow in the medium term. In the meantime, the trust has revenue reserves with which it plans to support its long-term record of maintaining or growing its annual dividends.

At 22 July 2020, LWI's shares traded at an 8.3% discount to cum-income NAV. While this is appreciably lower than the 10-year widest discount of 13.0% seen during the market sell-off in March 2020, it remains towards the wider end of the established long-term range of 0-10%, and is also wider than the average discounts over one, three, five and 10 years (range of 4.0% to 6.6%). The current dividend yield of 6.3% reflects a lower share price, but dividends look secure for FY20.

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