ABRDN SMALLER CO. INCOME TRUST abrdn Smaller Companies Income Trust plc
Annual Report 31 December 2022
Hunting smaller companies for a stronger income
abrdnsmallercompaniesincome.co.uk
The Company invests in Telecom Plus, a British multi-utility supplier of gas, electricity, home insurance and landline, broadband and mobile services to residences and businesses.
"With the year end share price at 240.5p, this represents a dividend yield of 4.1%. Over three and five years, the dividend has increased by 18.8% and 39.0% respectively."
Dagmar Kent Kershaw,
Chair
"The FTSE 100, with its large exposure to oil and gas, banks and mining companies was neutral for the year while the more domestically focused FTSE 250 and Numis Smaller Companies indices declined -19.7% and -17.9% respectively."
Amanda Yeaman, abrdn Investments Limited
abrdn Smaller Companies Income Trust plc | 1 |
Performance Highlights
Net asset value total returnA
Numis Smaller Companies ex Inv Trust Index
2022:
-33.2%
2022:
-17.9%
2021: +30.4%
Share price total returnA
2021: +21.9%
Earnings per Ordinary share (revenue)
2022:
-33.7%
2022:
11.24p
2021: +22.9%
Dividend per share
2021: 9.69p
Discount to net asset valueA
2022:
9.80p
2022:
16.3%
2021: 8.85p
2021: 15.3%
- Considered to be an Alternative Performance Measure. Further details can be found on pages 91 and 93.
Net asset value per share | Dividends per share | Mid-market price per share | ||||||||||||||||||||||
At 31 December - pence | Year ended 31 December - pence | At 31 December - pence | ||||||||||||||||||||||
442.5 | 9.80 | 375.0 | ||||||||||||||||||||||
8.85 | 343.0 | |||||||||||||||||||||||
8.25 | ||||||||||||||||||||||||
373.9 | 8.24 | 313.0 | ||||||||||||||||||||||
348.9 | 7.35 | |||||||||||||||||||||||
285.2 | 287.3 | 224.0 | 240.5 | |||||||||||||||||||||
18 | 19 | 20 | 21 | 22 | 18 | 19 | 20 | 21 | 22 | 18 | 19 | 20 | 21 | 22 |
2 | abrdn Smaller Companies Income Trust plc |
Contents
"Your Company's dividend for the year has increased to 9.80p per share, versus 8.85p for 2021, an increase of 10.7%."
Dagmar Kent Kershaw, Chair
Overview | |
Financial Calendar, Dividends and Highlights | 4 |
Strategic Report | |
Chair's Statement | 8 |
Investment Manager's Review | 11 |
ESG Engagement by the Manager | 19 |
Overview of Strategy | 22 |
Performance | 29 |
Portfolio | |
Ten Largest Investments | 34 |
Equity Investments | 35 |
Other Investments | 37 |
Distribution of Assets and Liabilities | 37 |
Investment Case Studies | 38 |
Governance | |
Board of Directors | 42 |
Directors' Report | 43 |
Corporate Governance Report | 46 |
Report of the Audit Committee | 49 |
Directors' Remuneration Report | 52 |
Statement of Directors' Responsibilities | 56 |
Independent Auditor's Report to the Members of abrdn | |
Smaller Companies Income Trust plc only | 57 |
Financial Statements | |
Statement of Comprehensive Income | 68 |
Balance Sheet | 69 |
Statement of Changes in Equity | 70 |
Statement of Cash Flows | 71 |
Notes to the Financial Statements | 72 |
Alternative Performance Measures | 91 |
Corporate Information | |
Information about the Investment Manager | 95 |
Investor Information | 97 |
Glossary of Terms | 100 |
General | |
Alternative Investment Fund Managers Directive | |
Disclosures (unaudited) | 103 |
Notice of Annual General Meeting | 104 |
Contact Addresses | 109 |
abrdn Smaller Companies Income Trust plc | 3 |
Attachments
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Disclaimer
Aberdeen Smaller Companies Income Trust plc published this content on 29 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2023 13:40:09 UTC.
