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QuotedData’s morning briefing 10 August 2020

euro cash

In QuotedData’s morning briefing 10 August 2020:

  • European Assets Trust (EAT) has published its interim results for the six months ended 30 June 2020. During the period EAT provided an NAV total return of -3.5%, which it says is in line with that of its benchmark, the EMIX Smaller European Companies (ex UK) Index, which also fell by 3.5%. With the share price discount increasing from 5.2% to 10.6% during the period, the share price total return was -8.6% (all in sterling terms). EAT says that many of its portfolio companies have reduced or cancelled their dividends. However, having already declared two dividends at 1.755 pence per share, the Board says that it also intends to declare and pay a further interim dividend of 1.755 pence in October 2020 providing an annual payment to shareholders representing six per cent of the closing net asset value per share of the Company as at 31 December 2019, in line with its long-term distribution policy. EAT will fund these dividends from a combination of current year profits and its distributable reserve (as at 30 June 2020 the Company had a distributable reserve of £368.6 million).

We also have details of Starwood European Real Estate Finance’s share buyback programme, VinaCapital Vietnam Opportunity’s private equity investment in Thu Cuc International General Hospital and UK Mortgages strategic review.

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