Edison issues review on StandardLifeEquityIncTrust

RNS Number : 3158U

Standard Life Equity Income Tst PLC

11 July 2018

 

London, UK, 11 July 2018

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

Standard Life Equity Income Trust (SLET) aims to generate a generous level of dividend as well as long-term growth in capital and income. The board has announced that the FY18 dividend will be at least 18.7p, which is +9.4% year-on-year, considerably higher growth than the rate of UK inflation. This increase will mean that SLET's dividend has grown for 18 consecutive years. Manager Thomas Moore is continuing to find attractively valued companies with positive fundamentals. He is confident that investment performance will improve with a change in investor focus away from high-growth, highly valued stocks, and he will be able to build on the trust's positive longer-term record. He says the current growth style bias in the UK stock market means that reasonably priced companies delivering strong results are not being rewarded with higher valuations.

SLET's current 0.1% share price discount to cum-income NAV is narrower than its historical averages. Over the last one, three, five and 10 years the average discounts have been in a range of 2.4% to 3.9%. SLET has a progressive dividend policy. The board has announced that the FY18 total distribution will be at least 9.4% higher than in FY17 and would be the 18th consecutive annual increase. SLET currently offers a dividend yield of 3.8%. 

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