Patria Private Equity Trust gives positive total return in half-year

Patria Private Equity Trust PLC on Monday hiked its annual dividend for the 12th year in a row, supporting a positive total return for shareholders.

The FTSE 250-listed investment trust, which invests in mid-sized private companies, reported a 3.1% net asset value total return for the six months that ended March 31, improved from a 2.6% return a year before. The share price total return was even more positive at 5.5%, though slightly below the 5.9% of a year before, as the share price discount to NAV widened to 33% from 30%.

NAV per share was 862.5 pence on March 31, up from 845.5p on September 30 last year and from 791.8p on March 31 last year. Total net assets were £1.27 billion on March 31.

Patria Private Equity on Monday proposed a 18.4p dividend for all of financial 2026, up 4.5% from 17.6p a year before. The company highlighted that this will be the 12th consecutive year of dividend increases for the 25-year-old company. The first quarterly dividend of 4.6p was paid in April and the second of the same amount will be paid in July.

The trust also is buying back shares. It bought 1.9 million shares for a total of £11.3 million in the recent six months. It said the 7.0 million shares repurchased since buybacks began in January 2024 have added 10.8p to NAV per share.

Duncan Budge, who took over as chair in March, said the board is "cautiously optimistic".

"The long-term case for European mid-market private equity remains compelling, underpinned by the significant pool of family and founder-owned businesses across the region, despite a more challenging geopolitical and market backdrop."

Patria Private Equity shares were down 0.7% to 616.00p early Monday in London. The stock is up 10% over the past 12 months.

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