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Law Debenture Corporation raises annual dividend as returns top benchmark

By BFN News | 07:57 AM | Friday 26 February, 2021


Investment trust The Law Debenture Corporation reported annual returns that topped its benchmark. For the year ended 31 December 2020, share price total return for 2020 was 12.9%, outperforming the FTSE Actuaries All-Share Index, its benchmark by 22.7%. The FTSE All-Share benchmark fell 9.8%. The company reported a pre-tax profit of £4.1 million, down from £131.4 million last year. The annual dividend was increased by 5.8% to 27.5 pence per ordinary share. 'Revenue increase of 8.5% and earnings per share are up 9.5% on prior period, reflecting consistent growth under new management team, funding over a third of the increased 2020 full year dividend,' the company said. 'Continued strong performance from the independent professional services business supports dividend growth,' it added. Story provided by StockMarketWire.com

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