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LONDON - ProVen Growth and Income VCT plc, managed by Beringea LLP, reported a decrease in net asset value (NAV) per share for the year ended February 28, 2025. The NAV per ordinary share fell to 50.2p from 54.7p the previous year, marking a 3.2% year-on-year decline, adjusted for dividends paid within the year.
Despite the decrease in NAV, the investment company is proposing a final dividend of 1.5p per share, maintaining the dividend yield at 5.2%. The proposed dividend is subject to shareholder approval at the upcoming Annual General Meeting (AGM), scheduled for Tuesday, July 15, 2025.
The total dividends for the year represent a tax-free cash return to shareholders of 2.75p per share, which is consistent with the dividend paid in the previous year. This proposed final dividend, if approved, will be paid on August 15, 2025, to shareholders registered on July 18, 2025, and will correspondingly reduce the NAV per share.
ProVen VCT’s AGM will be held at Beringea LLP’s offices in London, with provisions made for shareholders to attend via video conference. Shareholders are encouraged to vote electronically and submit questions in advance, as remote participants will not have voting or questioning capabilities during the meeting.
The company also announced that its Annual Shareholder Event is scheduled for the same day as the AGM, with the aim of providing shareholders insights into the investment manager’s performance, investment activities, and updates from the portfolio companies. This event will be held online to ensure broad accessibility and cost-effectiveness.
The information provided is based on a press release statement from ProVen Growth and Income VCT plc.
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