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LONDON - Maven Income and Growth VCT 3 PLC has delivered a resilient performance in the first half of its financial year, with the company’s NAV total return reaching 151.29p per Ordinary Share as of May 31, 2025, according to its interim results released on Wednesday.
The venture capital trust announced an enhanced interim dividend of 2.00p per Ordinary Share, payable on August 29, 2025, following the successful exit from portfolio company Horizon Ceremonies, which generated an initial return of 2.4 times cost with potential for further deferred proceeds.
The company reported a NAV of 48.42p per Ordinary Share at the period end. Its recent Offer for Subscription closed early after being fully subscribed, raising £10 million to support its investment strategy.
During the reporting period, Maven Income and Growth VCT 3 added three new private companies to its portfolio, with a fourth investment completing after the period end. The company deployed £2.8 million, including follow-on funding to 13 existing portfolio companies.
"Most of the companies in the private equity portfolio continue to make positive progress and achieve scale, which has resulted in the valuations of certain holdings being uplifted," said Keith Pickering, Chair of Maven Income and Growth VCT 3. "Conversely, AIM continues to be a challenging market, and the value of the Company’s AIM quoted portfolio has further declined."
The company has enhanced its dividend policy by increasing the target annual yield from 5% to 6% of NAV per Ordinary Share. Since the company’s launch, and after receipt of the interim dividend, a total of 104.87p per Ordinary Share will have been paid in tax-free distributions.
The Directors have elected to launch a new Offer later this year, alongside Offers by other Maven managed VCTs, with a Prospectus expected to be published in early autumn 2025.
The interim results statement was based on a press release issued by the company.
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