JPMorgan Emerging Markets Investment Trust PLC declared a higher dividend and said it outperformed its benchmark during its recently ended financial year.

The investment trust focused on long-term growth said its net asset value total return in the financial year to June 30 was 0.8%, outperforming its benchmark, the MSCI Emerging Markets index, which fell 2.8%.

Its net asset value per share fell to 115.6 pence from 117.0p a year prior. The company bought back 19.9 million shares in financial 2023, about 1.7% of the issued share capital.

The company declared a final dividend of 1.07 pence per share, bringing the total dividend to 1.65p, up 22% compared to 1.35p a year prior.

‘Looking forward, although we remain cautious about the broader outlook for the country, we still see opportunities particularly in strongly positioned businesses able to allocate capital well in a slower growth environment,’ portfolio managers Austin Forey and John Citron said.

JPMorgan Emerging Markets Investment shares were 0.3% higher at 103.51 pence each in London on Wednesday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.