Foreign & Colonial’s results for the first half of 2015 show it delivering a return on net assets of 4.1% and a return to shareholders of 4.0%. By contrast the FTSE All-World Index returned 2.2%.
The first interim dividend of 2.3p for 2015 will be paid on 3 August. Second and third interim dividends of 2.3p each will be paid in November 2015 and February 2016 respectively. They anticipate payment of a final dividend of 2.7p in May 2016 bringing the total for 2015 to 9.6p; a 3.2% rise on 2014 and the forty-fifth consecutive rise in dividends.
The Board believes the manager’s decision to allocate more capital to the highly performing European and Japanese markets benefited capital performance and the maturity of their expensive debenture at the end of 2014 benefited the revenue account by £5.5m. each of the regional equity allocations beat their respective benchmark with the sole exception of emerging markets.
Unfortunately there is no report from the manager.
FRCL : Good equity performance from F&C in H1