ICG Enterprise Trust ups interim dividend but net asset value declines
ICG Enterprise Trust PLC on Thursday raised its dividend and reported a net asset value total return of 0.1% for the first quarter of the financial year.
In a trading update, the investor in private companies, primarily in Europe and the US, said the NAV per share at the end of April was 2,036 pence, down 0.4% from 2,044.6p at the end of January.
The FTSE all-share index total return during the period was 2.1%.
The portfolio return on a sterling basis was 0.2%, and was flat on a local currency basis.
ICG Enterprise Trust declared a first quarter dividend of 9.5p per share, up 5.6% from 9p a year ago. It intends to pay total dividends of at least 42p per share for financial 2026, up 7.7% from 39p in financial 2026.
For the first quarter, it reported total proceeds of £51 million, driven by exits from Curium and Yodo, which were both in its top 30 companies.
ICG Enterprise Trust said a 20% reduction in the management fee cap will be implemented over the next two financial years. It will be 1.125% of NAV from the start of financial 2028 and 1.00% of NAV from financial 2029.
Shares in ICG Enterprise Trust were up 0.6% at 1,396.00p on Thursday afternoon in London.
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