REG - Chelverton UK DivTst - Half-year Financial Report
04/12/2025 10:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251204:nRSD2732Ka&default-theme=true
RNS Number : 2732K Chelverton UK Dividend Trust PLC 04 December 2025
Chelverton UK Dividend Trust PLC
Half-Yearly Financial Report
For the Six Months ended 31 October 2025
Investment Objective and Policy
The Company's investment policy is that:
• the Company will invest in equities in order to achieve its investment
objectives, which are to provide both income and capital growth, predominantly
through investment in mid and smaller capitalised UK companies admitted to the
Official List of the UK Listing Authority and traded on the London Stock
Exchange Main Market, on AIM or AQSE or traded on other qualifying UK
marketplaces.
• the Company will not invest in preference shares, loan stock or notes,
convertible securities or fixed interest securities or any similar securities
convertible into shares; nor will it invest in the securities of other
investment trusts or in unquoted companies. The Company may retain investments
in companies which cease to be listed after the initial investment was made,
so long as the total is non-material in the context of the overall portfolio;
however, the Company may not increase its exposure to such investments.
Financial Highlights
31 October 30 April
Capital 2025 2025 % change
Total gross assets (£'000) 32,718 30,328 7.88
Total net assets 32,568 29,867 9.04
(£'000)
Net asset value per Ordinary 145.07p 133.04p 9.04
share
Mid-market price per Ordinary 131.00p 128.50p 1.95
share
6.54%
Discount (9.70%) (3.41%)
Six months to Six months to
31 October 31 October
Revenue 2025 2024 % change
Return per Ordinary 3.57p 6.41p (44.31)
share
Dividends declared per Ordinary 5.00p 6.50p (23.08)
share*
Total return
Total return on Group net 13.32% (23.82%)
assets**1
* Dividend per Ordinary share includes the first interim paid and second
interim declared for each of the periods to 31 October 2025 and 2024 and will
differ from the amounts disclosed within the statement of changes in net
equity.
** Adding back dividends distributed in the period.
1 These are alternative performance measures ('APM') (see APM glossary for
further information).
Interim Management Report
This half-yearly report covers the six months to 31 October 2025. The net
asset value per Ordinary share as of 31 October 2025 was 145.07 up from
133.04p as of 30 April 2025, an increase of 9.0% during the period. As at the
28 November 2025 the NAV per share has decreased to 143.69p.
Since the beginning of the Company's financial year, the Ordinary share price
has increased from 128.5p to 134.0p as of 31 October 2025, an increase of
4.3%. Since the period end the shares have slightly decreased in price to
133.0p and as at 28 November 2025 the shares traded on a discount of 7.4%.
Dividend
As previously indicated, the Board has resolved to use revenue reserves to
supplement the income from the underlying portfolio in order to pay a dividend
of 10.0p per share for the next three years, subject to market conditions at
the time but assuming no increase in underlying portfolio income. In line with
this intention, the first interim dividend for the current year of 2.50p per
Ordinary share was paid on 10th October 2025. The Board has declared a second
interim dividend of 2.50p per Ordinary share payable on 8 January 2026 to
shareholders on the register on 12 December 2025, making a total for the half
year of 5.0p per Ordinary share.
It is anticipated that the Company will maintain the level of dividend for the
third and fourth quarter at
2.5p making a total core dividend declared of 10.00p for the year.
Portfolio
In the last 6 months we have repositioned our portfolio following the ZDP
redemption at the end of April 2025. We increased investment in ten of our
existing holdings (2024:16), B&M Europe, Chesnara, Conduit Re, Foresight
Group Holdings, Gateley Plc, ITV, Polar Capital, Serica Energy, Vesuvius and
Zigup.
During the period we also added nine new names to the portfolio (2024: 9).
These were British Land Co - real estate investment and development; Bytes
Technology Group - IT solutions and services; Hilton Food Group - meat and
fish packaging; Hollywood Bowl - leisure; Man Group - investment manager; Next
15 Group - consultancy; Primary Health Properties - healthcare REIT; Taylor
Wimpey - housebuilder; and Tristel - hospital disinfection products.
Funds were raised from the outright sale of two of our holdings Bakkavor Group
and Epwin Group, both of which were the subject of takeovers.
The following holdings were reduced on yield grounds: Arbuthnot Banking Group,
Coral Products, DSW Capital, Kier Group, LendInvest, M.P. Evans Group, One
Health Group, Orchard Funding Group, Palace Capital, Personal Group, Ramsdens
Holdings, Sancus Lending Group, Smiths News and Stelrad Group.
From a performance perspective there was no real theme to the biggest movers
in the period, with our top contributors and detractors largely reflecting
individual company circumstances. On the downside Hilton Foods suffered due to
an operational issue at its Greek smoked salmon facility, which impacted
exports into the US. STV Group suffered from a slowdown in demand for its
Studios business and B&M Europe shares fell reflecting a weak trading
update, followed by a second update highlighting increased freight costs. On
the positive side Serica Energy shares rose over 70% in the period, reflecting
accretive M&A activity alongside expectations of a more hospitable
regulatory environment for UK North Sea assets. Johnson Matthey reacted well
to the disposal of its Catalyst Technologies business at an attractive price,
Polar Capital benefitted from strong asset performance leading to increased
AuM and Chesnara shares re-rated along with the wider Life Insurance sector as
interest rates fell.
Outlook
The past six months have been a volatile period as markets tried to absorb the
combined impacts of US trade tariffs, differing trajectories of interest rate
cuts across western economies and the ever-evolving effect of the adoption of
new technologies. From a UK perspective, a level of political uncertainty
rarely seen under a government with such a large majority is adding to the
general sense of unease, not helped by the long wait for this year's "Autumn"
Budget. The result of this has been a collapse in both corporate and consumer
confidence, delays in business investment and a historically high household
savings ratio.
There has undoubtedly been a sense of pessimism amongst investors around UK
domestic equities, and UK small and midcap stocks in particular, however it's
not all doom and gloom. The most significant hurdles for the UK economy over
the past couple of years have been the intertwined issues of high interest
rates and high inflation, both of which we believe are now set to start moving
in the right direction.
The Budget has been calmly received, as much of it had already been leaked,
and the bond markets have been reassured by the level of headroom created.
Unfortunately, there were no initiatives for advancing development and growth
which of course would help GDP growth, higher government revenue and a
consequent reduction of deficit financing. Our companies will have to manage
another significant rise in the minimum wage of 4.1% and even higher increases
for younger people.
Inflation is set to fall over the next year as several one-off factors in 2025
fall out of the calculation (national living wage and national insurance
increase, energy price rises etc), which should allow the Bank of England to
continue its current path of interest rate cuts into next year. We have
already seen mortgage rates fall significantly from their peak and banks
remain incredibly well capitalised.
As we have commented before, the strength of UK corporate balance sheets is
neatly evidence by the scale of buy-back activity currently being undertaken,
while consumer balance sheets have been bolstered by wage increases and
increased savings. This means the raw material for growth is readily
available, what is lacking is the confidence to deploy it.
As we look past the recent budget, a more stable economic environment combined
with reducing interest rates and strong corporate balance sheets has the
potential to be a powerful combination both for the UK economy at large and UK
small and midcap equities.
In the meantime, we continue to be impressed by the resilience of cash flows
within our underlying portfolio and the adaptability of our investee companies
to the difficult macro environment. Dividend payments remain strong and we are
confident that our management teams are positioning businesses to benefit from
an uptick in demand when it happens.
Chelverton Asset Management Limited
4 December 2025
Principal Risks
The principal risks facing the Group are substantially unchanged since the
date of the Annual Report for the year ended 30 April 2025 and continue to be
as set out in that report on pages 11 to 14. Risks faced by the Group include,
but are not limited to, market risk, discount volatility, regulatory risks,
financial risk, gearing, viability and going concern, political risk, loss of
key personnel, operational risk and cyber risk.
Going concern
Having assessed the principal risks and the other matters discussed in
connection with the viability statement as set out on pages 16 and 17 of the
Annual Report for the year ended 30 April 2025, the Directors believe that the
Group is well placed to manage its business risks successfully and it is
appropriate to adopt the going concern basis in preparing the accounts.
Responsibility Statement of the Directors in respect of the Half-Yearly Report
We confirm that to the best of our knowledge:
· the condensed set of financial statements has been prepared in
compliance with the IAS 34 'Interim Financial Reporting' and gives a true and
fair view of the assets, liabilities and financial position of the Group; and
· the interim management report and notes to the Half-Yearly Report
include a fair view of the information required by:
(a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an
indication of the important events that have occurred during the first six
months of the financial year and their impact on the condensed set of
financial statements; and a description of the principal risks and
uncertainties for the remaining six months of the year; and
(b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related
party transactions that have taken place in the first six months of the
current financial year and that have materially affected the financial
position or performance of the Group during that period; and any changes in
the related party transactions described in the last annual report that could
do so.
This Half-Yearly Report was approved by the Board of Directors on 4 December
2025 and the above responsibility statement was signed on its behalf by Howard
Myles, Chairman.
Condensed Consolidated Statement of Comprehensive Income (unaudited)
for the six months ended 31 October 2025
Six months to 31 October Six months to 31 October
2025 2024 Year to 30 April
2025
Revenue Capital Total Revenue Capital Total Revenue Capital Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Gains/(losses) on investments at fair value through profit or loss - 3,282 3,282 - 793 793 - (3,529) (3,529)
Investment income 1,090 - 1,090 1,683 - 1,683 3,505 - 3,505
Investment management fee (42) (125) (167) (70) (210) (280) (134) (400) (534)
Other expenses (227) 35 (192) (210) (6) (216) (406) (491) (897)
Exchange differences on translating foreign transactions _ (1) (1) _ _ _ _ (6) (6)
Net surplus/(deficit) before finance costs and taxation 821 3,191 4,012 1,403 577 1,980 2,965 (4,426) (1,461)
Finance costs
Preference shares - _ _ - (367) (367) - (736) (736)
Net surplus/(deficit) before taxation 821 3,191 4,012 1,403 210 1,613 2,965 (5,162) (2,197)
Taxation (see note 2) (20) - (20) (15) - (15) (40) - (40)
Total comprehensive income/(expense) for the period 801 3,191 3,992 1,388 210 1,598 2,925 (5,162) (2,237)
Revenue Capital Total Revenue Capital Total Revenue Capital Total
pence pence pence pence pence pence pence pence pence
Net return per:
Ordinary share (see note 3) 3.57 14.21 17.78 6.41 0.97 7.38 13.32 (23.51) (10.19)
Zero Dividend Preference share 2025 - _ _ - 2.53 2.53 - _ _
The total column of this statement is the Statement of Comprehensive Income of
the Group prepared in accordance with UK-Adopted International Accounting
Standards and with the requirements of the Companies Act 2006. All revenue and
capital items in the above statement derive from continuing operations. No
operations were acquired or discontinued during the period. All of the net
return for the period and the total comprehensive income for the period is
attributed to the shareholders of the Group. The supplementary revenue and
capital return columns are presented for information purposes as recommended
by the Statement of Recommended Practice 'Financial Statements of Investment
Trust Companies and Venture Capital Trusts' ('SORP') issued by the Association
of Investment Companies ('AIC') (dated June 2022).
Condensed Consolidated Statement of Changes in Net Equity (unaudited)
for the six months ended 31 October 2025
Share capital Share premium account Capital redemption reserve Capital reserve Revenue Total
reserve
£'000 £'000 £'000 £'000 £'000 £'000
Six months ended 31 October 2025 5,613 19,690 5,004 (3,322) 2,882 29,867
30 April 2025
Total comprehensive income for the period - - - 3,191 801 3,992
Ordinary shares issued _ _ - - - _
Expenses of Ordinary share issue - _ - - - _
Dividends paid (see note 4) - - - - (1,291) (1,291)
31 October 2025 5,613 19,690 5,004 (131) 2,392 32,568
5,386 18,497 5,004 1,840 2,794 33,521
Six months ended 31 October 2024
30 April 2024
Total comprehensive income for the period - - - 210 1,388 1,598
Ordinary shares issued 128 714 - - - 842
Expenses of Ordinary share issue - (2) - - - (2)
Dividends paid (see note 4) - - - - (1,387) (1,387)
31 October 2024 5,514 19,209 5,004 2,050 2,795 34,572
Year ended 30 April 2025 (audited) 5,386 18,497 5,004 1,840 2,794 33,521
30 April 2024
Total comprehensive income/ (expense) for the year - - - (5,162) 2,925 (2,237)
Ordinary shares issued 227 1,200 - - - 1,427
Expenses of Ordinary share issue - (7) - - - (7)
Dividends paid (see note 4) - - - - (2,837) (2,837)
30 April 2025 5,613 19,690 5,004 (3,322) 2,882 29,867
Condensed Consolidated Balance Sheet
(unaudited)
as at 31 October 2025
31 October 31 October 30 April
2025 2024 2025
£'000 £'000 £'000
(audited)
Non-current assets
Investments at fair value through profit or loss 32,154 52,585 27,967
Current assets
Trade and other receivables 310 554 765
Cash and cash equivalents 254 1,821 1,596
564 2,375 2,361
Total assets 32,718 54,960 30,328
Current liabilities
Trade and other payables (150) (1,446) (461)
Zero Dividend Preference Shares _ (18,942) _
(150) (20,388) (461)
Total assets less current liabilities 32,568 34,572 29,867
Total liabilities (150) (20,388) (461)
Net assets 32,568 34,572 29,867
Represented by:
Share capital 5,613 5,514 5,613
Share premium account 19,690 19,209 19,690
Capital redemption reserve 5,004 5,004 5,004
Capital reserve (131) 2,050 (3,322)
Revenue reserve 2,392 2,795 2,882
Equity Shareholders' funds 32,568 34,572 29,867
Net asset value per: (see note 5) pence pence pence
Ordinary share 145.07 156.75 133.04
Zero Dividend Preference share 2025 _ 130.64 _
Condensed Consolidated Statement of Cash Flows
(unaudited)
for the six months ended 31 October 2025
Six months to Six months to Year to
31 October 31 October 30 April
2025 2024 2025
£'000 £'000 £'000
(audited)
Operating activities
Investment income received 1,473 1,855 3,390
Investment management fee paid (206) (269) (541)
Administration and secretarial fees paid (38) (32) (59)
Bank interest received 20 8 18
Other cash payments (478) (182) (486)
Cash generated from operations (see note 7) 771 1,380 2,322
Purchases of investments (4,621) (8,691) (14,106)
Sales of investments 3,799 8,981 34,021
Net cash (outflow)/inflow from operating activities (822) 290 19,915
Financing activities
Redemption of Zero Dividend Preference shares _ _ (19,311)
Issue of Ordinary shares _ 745 1,427
Expenses of Ordinary share issue _ (2) (7)
Dividends paid (1,291) (679) (2,837)
Net cash (outflow)/inflow from financing activities (1,291) 64 (20,728)
Change in cash and cash equivalents (1,342) 1,734 1,509
Cash and cash equivalents at start of period 1,596 87 87
Cash and cash equivalents at end of period 254 1,821 1,596
Notes to the Condensed Half-Yearly Report
for the six months ended 31 October 2025
1 General information
The financial information contained in this Half-Yearly Report does not
constitute statutory financial statements as defined in Section 434 of the
Companies Act 2006. The statutory financial statements for the year ended 30
April 2025, which received an unqualified auditors' report, have been lodged
with the Registrar of Companies. The auditors' report did not include any
statement requiring disclosure under the Companies Act 2006. These statutory
financial statements were prepared in accordance with UK-Adopted International
Accounting Standards and in accordance with the SORP.
The Group has financial resources which substantially exceed its expense
commitments and therefore the Directors believe that the Group is well placed
to manage its business risks and also believe that the Group will have
sufficient resources to continue in operational existence for the foreseeable
future. Accordingly, they continue to adopt the going concern basis in
preparing this report.
This report has not been reviewed by the Group's Auditors.
This report has been prepared using accounting policies adopted in the audited
financial statements for the year ended 30 April 2025. This report has also
been prepared in compliance with IAS 34 'Interim Financial Reporting' and the
Companies Act 2006.
2 Taxation
The Company has an effective tax rate of 0% as investment gains are exempt
from tax owing to the Company's status as an Investment Trust and there is
expected to be an excess of management expenses over taxable income and thus
there is no charge for corporation tax.
Deferred tax assets in respect of unrelieved excess expenses are not
recognised as it is unlikely that the Group will generate sufficient taxable
income in the future to utilise these expenses. Deferred tax is not provided
on capital gains and losses because the Company meets the conditions for
approval as an investment trust company.
3 Earnings per share
Ordinary shares
Revenue earnings per Ordinary share is based on revenue on ordinary activities
after taxation of
£801,000 (31 October 2024: £1,388,000, 30 April 2025: £2,925,000) and on
22,450,000 (31 October
2024: 21,636,848; 30 April 2025: 21,951,959) Ordinary shares, being the
weighted average number of Ordinary shares in issue during the period.
Capital earnings per Ordinary share is based on the capital gain of
£3,191,000 (31 October 2024: gain of £210,000, 30 April 2025: loss of
£5,162,000) and on 22,450,000 (31 October 2024: 21,636,848, 30 April 2024:
21,951,959) Ordinary shares, being the weighted average number of Ordinary
shares in issue during the period.
4 Dividends
During the period, a fourth interim dividend of 3.15p per Ordinary share was
paid to Shareholders in respect of the financial year ended 30 April 2025.
In respect of the year ending 30 April 2026, a first interim dividend of 2.50p
per ordinary share has been paid to Shareholders on 10 October 2025.
In addition, for the year ending 30 April 2026, the Board has declared a
second interim dividend of 2.50p per Ordinary share payable on 8 January 2026
to Shareholders on the register at 12 December 2025 (ex-dividend date 11
December 2025).
5 Net asset values
Ordinary shares
The net asset value per Ordinary share is based on assets attributable of
£32,568,000 (31 October 2024: £34,572,000, 30 April 2025: £29,867,000) and
22,450,000 (31 October 2024: 22,055,000, 30 April 2025: 22,450,000) Ordinary
shares being the number of shares in issue at the period end.
6 Fair value hierarchy
Financial assets and financial liabilities of the Company are carried in the
condensed Consolidated Balance Sheet at their fair value. The fair value is
the amount at which the asset could be sold or the liability transferred in a
current transaction between market participants, other than a forced or
liquidation sale. For investments actively traded in organised financial
markets, fair value is generally determined by reference to Stock Exchange
quoted market bid prices and Stock Exchange Electronic Trading Services
('SETS') at last trade price at the Balance Sheet date, without adjustment for
transaction costs necessary to realise the asset.
The Company measures fair values using the following hierarchy that reflects
the significance of the inputs used in making the measurements. Categorisation
within the hierarchy has been determined on the basis of the lowest level
input that is significant to the fair value measurement of the relevant assets
as follows:
Level 1 - Quoted prices (unadjusted) in active markets for identical assets or
liabilities.
An active market is a market in which transactions for the asset or liability
occur with sufficient frequency and volume on an ongoing basis such that
quoted prices reflect prices at which an orderly transaction would take place
between market participants at the measurement date. Quoted prices provided by
external pricing services, brokers and vendors are included in Level 1, if
they reflect actual and regularly occurring market transactions on an arm's
length basis.
Level 2 - Inputs other than quoted prices included within Level 1 that are
observable for the asset or liability, either directly (that is, as prices) or
indirectly (that is, derived from prices).
Level 2 inputs include the following:
• quoted prices for similar (i.e. not identical) assets in active markets;
• quoted prices for identical or similar assets or liabilities in markets
that are not active. Characteristics of an inactive market include a
significant decline in the volume and level of trading activity, the available
prices vary significantly over time or among market participants or the prices
are not current;
• inputs other than quoted prices that are observable for the asset (for
example, interest rates and yield curves observable at commonly quoted
intervals); and
• inputs that are derived principally from, or corroborated by, observable
market data by correlation or other means (market-corroborated inputs).
Level 3 - Inputs for the asset or liability that are not based on observable
market data (unobservable inputs).
The level in the fair value hierarchy within which the fair value measurement
is categorised in its entirety is determined on the basis of the lowest level
input that is significant to the fair value measurement in its entirety. If a
fair value measurement uses observable inputs that require significant
adjustment based on unobservable inputs, that measurement is a Level 3
measurement. Assessing the significance of a particular input to the fair
value measurement in its entirety requires judgement, considering factors
specific to the asset or liability.
The table below sets out fair value measurements of financial instruments at
the period end, by the level in the fair value hierarchy into which the fair
value measurement is categorised.
Financial Asset at fair value through profit or loss at 31 October 2025
Level 1 Level 2 Level 3 Total
£'000 £'000 £'000 £'000
32,154 _ _ 32,154
Financial Asset at fair value through profit or loss at 30 April 2025
Level 1 Level 2 Level 3 Total
£'000 £'000 £'000 £'000
27,967 _ _ 27,967
Financial Asset at fair value through profit or loss at 31 October 2024
Level 1 Level 2 Level 3 Total
£'000 £'000 £'000 £'000
51,852 733 _ 52,585
Level 3 Financial Assets at fair value through profit or loss
31 October 2025 30 April 31 October 2024
£'000 2025 £'000
£'000
Opening fair value _ 105 105
Transfer from AIM _ 103 _
Purchases _ _ _
Sales _ _ (401)
Total gains/(losses) included in gains/(losses) on investments in the
Condensed Consolidated Statement of Comprehensive Income:
-on sold assets _ (532) 296
-on assets held at the year end _ 324 _
Closing fair value _ _ _
7 Reconciliation of net return before and after taxation to cash generated
from operations
31 October 30 April 31 October 2024
2025 2025 £'000
£'000 £'000
Net surplus/(deficit) before taxation 4,012 (2,197) 1,613
Taxation (20) (40) (15)
Net surplus/(deficit) after taxation 3,992 (2,237) 1,598
Net capital deficit (3,191) 5,162 (210)
Decrease/(increase) in receivables 407 (34) 203
(Decrease)/increase in payables (347) 326 5
Interest and expenses charged to the capital reserve (90) (895) (216)
Net cash inflow from operating activities 771 2,322 1,380
8 Related party transactions
The Group's investments are managed by Chelverton Asset Management Limited.
The amounts paid to the Investment Manager in the period to 31 October 2025
were £167,000 (31 October 2024:
£280,000, 30 April 2025: £534,000).
At 31 October 2025 there were amounts outstanding to be paid to the Investment
Manager of £13,000 (31 October 2024: £69,000, 30 April 2025: £51,000).
Portfolio Investments
as at 31 October 2025
Market value % of portfolio
Security Sector £'000
Chesnara Insurance 1,182 3.6
Hargreaves Services Industrial Goods & Services 985 3.1
Smiths News Industrial Goods & Services 976 3.0
Polar Capital Holdings Financial Services 861 2.7
MTI Wireless Edge Telecommunications 760 2.4
Serica Energy Energy 760 2.4
Duke Royalty Financial Services 756 2.4
Zigup Industrial Goods & Services 693 2.2
Wynnstay Group Food, Beverage & Tobacco 690 2.1
Stelrad Construction & Materials 676 2.1
M P Evans Food, Beverage & Tobacco 675 2.1
Wickes Retail 664 2.0
Personal Group Holdings Insurance 652 2.0
Kier Group Construction & Materials 650 2.0
Arbuthnot Banking Banks 634 2.0
One Health Group Health Care 598 1.9
British Land Company Real Estate 569 1.8
Coral Products Industrial Goods & Services 540 1.7
Hollywood Bowl Group Travel & Leisure 539 1.6
MoneySuperMarket Technology 534 1.7
Johnson Matthey Chemicals 533 1.7
Orchard Funding Group Financial Services 529 1.6
Man Group Financial Services 525 1.6
TP ICAP Financial Services 525 1.6
Next 15 Group Media 518 1.6
Primary Health Properties Real Estate 515 1.6
Hansard Global Insurance 515 1.6
Conduit Insurance 508 1.6
Dunelm Retail 503 1.6
Sabre Insurance Insurance 503 1.6
Hilton Food Group Food, Beverage & Tobacco 483 1.5
Speedy Hire Industrial Goods & Services 482 1.5
ME Group Consumer Products & Services 470 1.5
Somero Industrial Goods & Services 470 1.4
Ramsdens Holdings Financial Services 459 1.4
ITV Media 453 1.4
Paypoint Industrial Goods & Services 450 1.4
VP Industrial Goods & Services 443 1.4
Ultimate Products Consumer Products & Services 434 1.3
Taylor Wimpey Consumer Products & Services 421 1.3
Gateley Industrial Goods & Services 420 1.3
OSB Group Financial Services 404 1.3
B&M European Value Retail Retail 404 1.2
Diversified Energy Energy 384 1.2
Lendinvest Financial Services 370 1.2
Fonix Mobile Industrial Goods & Services 368 1.1
Castings Industrial Goods & Services 359 1.1
Premier Miton Group Financial Services 348 1.1
STV Media 345 1.1
Cavendish Financial Financial Services 321 1.0
Pets at Home Group Retail 321 1.0
Regional REIT Real Estate 319 1.0
RWS Industrial Goods & Services 308 1.0
Gattaca Industrial Goods & Services 306 0.9
Vesuvius Industrial Goods & Services 300 0.9
Bytes Technology Group Technology 296 0.9
Spectra Systems Retail 290 0.9
Liontrust Asset Management Financial Services 279 0.9
Foresight Group Holdings Financial Services 274 0.9
Alumasc Group Construction & Materials 266 0.8
Topps Tiles Retail 259 0.8
RTC Group Industrial Goods & Services 227 0.7
Victrex Chemicals 226 0.7
Palace Capital Real Estate 215 0.7
DSW Capital Financial Services 203 0.6
FDM Group Industrial Goods & Services 150 0.5
Tristel Health Care 36 0.1
Sancus Lending Group Financial Services 21 0.1
The Reval Collective Travel & Leisure 2 _
Total Portfolio 32,154 100.0
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IR GCBDDXSGDGUS
Copyright 2019 Regulatory News Service, all rights reservedRecent news on Chelverton UK Dividend Trust
See all newsREG - Chelverton UK DivTst - Net Asset Value(s)
AnnouncementREG - Chelverton UK DivTst - Net Asset Value(s)
AnnouncementREG - Chelverton UK DivTst - Net Asset Value(s)
AnnouncementREG - Chelverton UK DivTst - Net Asset Value(s)
AnnouncementREG - Chelverton UK DivTst - Net Asset Value(s)
Announcement