LONDON (dpa-AFX) - City of London Investment Trust Plc. (CTY.L) reported Monday that its fiscal 2022 net return before taxation declined to 100.47 million pounds from last year's 267.16 million pounds.
Return per ordinary share was 22.11 pence, compared to 62.45 pence last year.
City of London's revenue earnings per share increased 21.2 percent to 20.72 pence from 17.09 pence a year ago.
NAV per ordinary share was 390.9 pence, compared to 387.6 pence a year ago.
Gross revenue and capital gains declined to 111.61 million pounds from prior year's 278.16 million pounds.
City of London increased its dividend for the 56th consecutive year by 2.6 percent to 19.6 pence.
The 2022 Annual General Meeting will be held on October 27.
Looking ahead, Sir Laurie Magnus CBE, Chairman, said, 'During the recent corporate results season, a number of our investee companies have demonstrated their ability to cope with inflationary pressures with positive dividend declarations. These considerations, together with the advantages of our investment trust status, underpin the Board's confidence of building on City of London's unique 56-year record of annual dividend increases and of continuing to provide reliable returns.'
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