Albion Development VCT - London-based venture capital trust - Net asset value as at June 30 declines to 91.75 pence from 93.55p a year prior, but improves from 88.65p as at December 31. Reports NAV total return per share of 5.8% for the six months to June 30, despite a ‘difficult macroeconomic and geopolitical backdrop’ such as high inflation, rising interest rates and volatility of quoted technology companies. Albion Development adds it paid an interim dividend of 2.22p per share, down from 2.37p a year prior. Company says it will pay a further dividend of 2.29p per share for 2023. Looking ahead, says faces macroeconomic issues including a period of economic stagnation ‘or even recession in the UK’.
Current stock price: 84.50 pence, closed down 1.7% on Tuesday
12-month change: down 2.9%
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