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- Princess Private Equity reflects on H1 as dividend reduced to support portfolio companies
Princess Private Equity reflects on H1 as dividend reduced to support portfolio companies – Princess Private Equity (PEY) has reported interim results to 30 June 2020, with highlights that include:
PEY’s chairman, Richard Battey, noted: “The impact of COVID-19 remains unprecedented and PEY’ portfolio, as well as public markets, have seen a sharp decline in valuations followed by a partial recovery. In order to preserve sufficient liquidity to ensure PEY is able to support portfolio companies that may be negatively affected by the crisis, the company provided revised guidance that it intended to pay a reduced dividend of not less than EUR 0.29 per share in 2020. With PEY’ robust balance sheet and the exposure to a global portfolio of leading private companies operating in sub-sectors benefitting from long-term, structural growth drivers, the board believes that the portfolio remains well-positioned to generate further value for shareholders.”
PEY/PEYS: Princess Private Equity reflects on H1 as dividend reduced to support portfolio companies