Sequoia Economic Infrastructure records FY NAV total return of 13.5%
By Iain Gilbert
Date: Tuesday 06 Jul 2021
(Sharecast News) - Investment firm Sequoia Economic Infrastructure said on Tuesday that its net asset value had improved in the twelve months ended 31 March.
Sequoia saw its total net assets grow from £1.59bn to £1.81bn throughout the year, while its net asset value increased to 103.18p per ordinary shares from 96.6p for a NAV total return of 13.5%.
The FTSE 250-listed group also paid a total dividend of 6.25p during the year, up slightly from the 6.18p returned to investors a year earlier.
Sequoia also recorded a share price total return of 17.4% in the year.
Chairman Robert Jennings said: "SEQI has demonstrated the considerable resilience of its portfolio and the wider infrastructure asset class throughout the Covid-19 related challenges of the past year. In an environment of necessarily accommodative fiscal and monetary policies, our in-year return performance was well in excess of our long-term targets.
"We believe that the company continues to be well placed to deliver attractive risk-adjusted returns in a sustainable manner over the long term."
As of 0810 BST, Sequoia shares were up 0.073% at 111.68p.
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