Shires Income PLCs half-year report for the six months ended September 30, 2024, shows positive performance with a net asset value (NAV) total return of 6.8% and a share price total return of 14.5%. The companys investment objective is to provide shareholders with a high level of income, along with potential for growth in both income and capital. The revenue earnings per share increased by 6.4% compared to the previous year. The companys dividend yield, based on the current annual rate, is 5.9%, higher than the FTSE All-Share Indexs yield of approximately 3.7%. The discount at which the companys ordinary shares traded relative to the NAV narrowed during the period to 7.4%. The companys board monitors the level of gearing regularly and believes that the combination of borrowings and investments in fixed-income securities will enable the company to achieve a high and potentially growing level of dividends while also delivering capital appreciation. The outlook for the company remains positive, with inflation under control and interest rates falling, but the conflicts in the Middle East and Ukraine continue to create significant geopolitical risk.
| Year | Net Asset Value per Ordinary Share | Share Price | Dividend Yield | Discount to Net Asset Value | Net Gearing | Ongoing Charges Ratio |
|---|---|---|---|---|---|---|
| 30 September 2024 | 265.14p (+3.6%) | 245.50p (+10.6%) | 5.9% (Based on current annual rate of dividend) | 7.4% (Narrowed during the period) | 16.4% (Unchanged since start of period) | 1.00% (Compared to 1.10% in previous year) |
| 31 March 2024 | 256.00p | 222.00p | 6.5% | 13.3% | 16.4% | 1.10% |