NB Global Floating Rate Income Fund has published results for the year ended 31 December 2016. During the year the Company’s NAV total return (NAV plus dividends) was 8.17% and 8.41% for the Sterling Ordinary Shares and U.S. Dollar Ordinary Shares, respectively. During the same period the Company’s share price total return was 5.6% per Sterling Ordinary Share and 6.9% per U.S. Dollar Ordinary Share, respectively reflecting a narrowing of the Company’s discount from 2.63% per Sterling Ordinary Share and 2.66% per U.S. Dollar Share at the start of the year to 0.99% per Sterling Ordinary Share and 0.06% per U.S. Dollar Share. As at the latest practicable date prior to publication of this report the Company’s Sterling Ordinary Shares and U.S. Dollar Ordinary Shares trade at a premium of 0.04% and 2.75% respectively.
As at 31 December 2016, the annualised dividend based on the previous four quarterly dividends declared was 4.18% for the Sterling Ordinary Shares and 4.12% for the U.S. Dollar Ordinary. As at the latest practicable date prior to publication of this report, the Company’s current dividend yield is 4.15% and 4.03% per Sterling Ordinary Share and U.S. Dollar Share respectively (calculated as the last four quarterly dividends declared in the period up to 31 December 2016 expressed as a percentage of the share price). This reduction is primarily a result of the fourth quarter 2016 dividend (which was paid on 17 February 2017) falling from GBP0.0109p to GBP0.0085 per Sterling Ordinary Share and $0.0110 to $0.0086 per U.S. Dollar Share when compared against the third quarter 2016 dividend. This reduction was primarily driven by a high volume of repricing transactions by loan issuers, particularly in the second half of the year.
During the year the Company’s (discount)/premium ranged between -8.24% and 0.22% per Sterling Ordinary Share and -9.37% and 0.90% per U.S. Dollar Share.
NBLS / NBLU : NB Global makes 8%+ returns in 2016