A welcome first revaluation uplift since 2013 saw Raven Russia’s adjusted diluted NAV increase year on year to 76.5¢ and beat our estimate by 8%. Furthermore, a surprise 50% increase in the final shareholder distribution to the equivalent of 3p per share provides an effective running yield of 9.3%. While reversionary effects continue to impact net portfolio income, the company sees opportunities to offset these with attractively priced acquisitions. With local market conditions showing tentative ....
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Good results – high yields
- Published:
12 Mar 2018 -
Author:
Trevor Griffiths -
Pages:
3
A welcome first revaluation uplift since 2013 saw Raven Russia’s adjusted diluted NAV increase year on year to 76.5¢ and beat our estimate by 8%. Furthermore, a surprise 50% increase in the final shareholder distribution to the equivalent of 3p per share provides an effective running yield of 9.3%. While reversionary effects continue to impact net portfolio income, the company sees opportunities to offset these with attractively priced acquisitions. With local market conditions showing tentative ....