Dunedin Smaller Companies adds 13% to NAV

21st Jun 2010 18:56

Dunedin Smaller Companies Investment Trust has reported a 13% increase in net asset value in the past six months. Dunedin Smaller Companies IT reported a NAV of 132.14p a share at the end of April 2010. The total return on the share price is 41.2% over the past year. There was net cash of £1.97m in the balance sheet at the end of April 2010. The investment manager believes that volatility in share prices will present opportunities and the investment trust is in a good position to take advantage. Dunedin Smaller Companies IT is paying an unchanged interim dividend of 1.85p a share. The board intends to ask for shareholder approval to reissue shares held in treasury at a discount to net asset value as long as it is less than the average discount when they were acquired.