Law Debenture Corp beats benchmarks, ups dividend

29th Jul 2015 15:44

(ShareCast News) - Investment trust Law Debenture Corp posted a 3.8% jump in net asset value total return in the first six months of the year.Shares in the global investment trust were up by 2.05% to 523p after the company said it beat benchmarks.The company said net revenue per share was 10.75p, an increase of 15.5% over the corresponding period last year, as a result of a 23.2% increase in the investment trust and a 0.9% increase in independent fiduciary services.A major factor in the increase in investment trust revenue was a significant increase in special dividends, the company said.The board upped its interim dividend by about 10% to 5.2p from 4.70p.Net asset value after the dividend was up 1.48% to 476.80p from 478.12pLaw Debenture said it had been a subdued period for equity market and good operating performances were offset by marco-economic concerns."Some of the best performing areas of the last few years such as capital goods' companies have experienced share price weakness as the strength of the global economic upswing has been questioned, while some of the weaker areas of recent times, for example, the Japanese stock market, have made good progress."