Standard Life Equity Income Tst PLC Edison issues review on StandardLifeEquityIncTrust
July 11 2018 - 4:54AM
RNS Non-Regulatory
TIDMSLET
Standard Life Equity Income Tst PLC
11 July 2018
London, UK, 11 July 2018
Edison issues review on Standard Life Equity Income Trust
(SLET)
Standard Life Equity Income Trust (SLET) aims to generate a
generous level of dividend as well as long-term growth in capital
and income. The board has announced that the FY18 dividend will be
at least 18.7p, which is +9.4% year-on-year, considerably higher
growth than the rate of UK inflation. This increase will mean that
SLET's dividend has grown for 18 consecutive years. Manager Thomas
Moore is continuing to find attractively valued companies with
positive fundamentals. He is confident that investment performance
will improve with a change in investor focus away from high-growth,
highly valued stocks, and he will be able to build on the trust's
positive longer-term record. He says the current growth style bias
in the UK stock market means that reasonably priced companies
delivering strong results are not being rewarded with higher
valuations.
SLET's current 0.1% share price discount to cum-income NAV is
narrower than its historical averages. Over the last one, three,
five and 10 years the average discounts have been in a range of
2.4% to 3.9%. SLET has a progressive dividend policy. The board has
announced that the FY18 total distribution will be at least 9.4%
higher than in FY17 and would be the 18th consecutive annual
increase. SLET currently offers a dividend yield of 3.8%.
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For more information please contact Edison:
Mel Jenner, +44 (0)20 3077 5720
Sarah Godfrey, +44 (0)20 3681 2519
Investmenttrusts@edisongroup.com
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