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Bankers secures dividend growth despite underperformance

Bankers secures dividend growth despite underperformance – Bankers (BNKR) has published its interim results for the six months to 30 April 2021. During this time, its share price rose by 17.7% and its NAV by 17.4%, underperforming its FTSE All-Share benchmark return of 21.5%. Bankers has underperformed its index over one and three years but has stronger long-term figures.

Meanwhile, Bankers has been able to secure dividend growth by accessing its revenue reserves and a first interim dividend of 0.538p per share was paid in May while a second interim dividend of the same amount will be payable in August. 

Following share price almost trebling over the past decade, the board proposed in January 2021 a share split to sub-divide each ordinary share of 25p nominal value into 10 ordinary shares of 2.5p each. Shareholders approved the resolution for the share split at the AGM on in February 2021 and the sub-division took effect on 1 March 2021 when the new shares were admitted to trading on the London Stock Exchange.

Chair, Sue Inglis, said the underperformance over the six months under review largely resulted from the shift from lockdown beneficiaries to the reopening trade. She said: “Having been our worst performing portfolios over the previous financial year, our Pacific (ex Japan and China) and UK portfolios were best placed to benefit from this shift and delivered the strongest absolute performances over the period, both outperforming their benchmarks. The remaining four portfolios also delivered positive returns but underperformed their benchmarks.”

Statement from the fund manager:

BNKR : Bankers secures dividend growth despite underperformance

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