Brunner Investment net asset value per share rose by 2.7% for the full year but was a 'little behind' its benchmark index performance as the choppy backdrop for stock markets last year weighed. The company also said it would put forward plans at a general meeting to allow it authority to buyback shares. For the full year ended 31 December, net asset value per ordinary share rose by 2.7% a little behind the composite benchmark index - 70% FTSE World Ex-UK and 30% FTSE All-Share Index - which rose by 4.1% on a total return basis over the period. The drop was blamed on 0.7% NAV cost of the debt restructuring. While the company's share price fell by 2.8% over the year as the year-on-year discount rate widened. Strong underlying dividend growth from the investment portfolio contributed to an increased level of income and earnings, the company said. Earnings per share for the year rose by 7.1%, from 18.4p to 19.7p. The company proposed a final dividend of 6.00p a share, bringing the total payment for 2018 to 18.15p, a substantial increase of 10.0% on last year. There were no buybacks during the year under review, but the board was seeking renewal powers to buy back shares to retain a mechanism to manage the discount of share price to NAV. 'Looking ahead, the board shares the investment manager's expectation that the resilience of overall company earnings in 2019 will be challenged by generally weaker global economic momentum, plus the great unknown of trade politics,' the company said. At 10:19am: (LON:BUT) Brunner Investment Trust Plc the share price was -5p at 749p
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