Standard Life Equity Income Trust plc Declares Second Quarterly Interim Dividend, Payable on June 27, 2014; Richard Burns Intends to Retire from the Board; Reports Unaudited Earnings Results for the Six Months Ended March 31, 2014
Richard Burns intend to retire from the Board at the next AGM in December 2014. The Board has agreed to the appointment of Richard Burns as Chairman from that date.
The company reported unaudited earnings results for the six months ended March 31, 2014. For the period, the company reported net return before finance costs and taxation was GBP 18,964,000 compared to GBP 23,464,000 for the same period a year ago. Return on ordinary activities before taxation was GBP 18,764,000 compared to GBP 23,324,000 a year ago. Return on ordinary activities after taxation was GBP 18,750,000 compared to GBP 23,313,000 a year ago. Diluted return per ordinary share was 46.44 pence compared to 61.33 pence a year ago. Net cash inflow from operating activities was GBP 2,123,000 compared to GBP 1,670,000 a year ago. Basic NAV per ordinary share was 435.41pence compared to 363.29 pence a year ago. Diluted NAV per ordinary share was 418.16 pence compared to 356.21 pence a year ago.