Law Debenture Corp PLC Edison issues review on The Law Debenture Corp
August 03 2021 - 4:52AM
RNS Non-Regulatory
TIDMLWDB
Law Debenture Corp PLC
03 August 2021
London, UK, 3 August 2021
Edison issues review on The Law Debenture Corporation (LWDB)
The Law Debenture Corporation (LWDB) has reported on a
successful first six months of 2021, building on its long track
record of outperformance versus the benchmark over one, three, five
and 10 years. Additionally, in its 42nd year of maintained or
increased dividends, Q121 DPS increased by 5.8%. The portfolio
benefited from its exposure to UK and international economic
recovery and the IPS business delivered strong revenue growth and
earnings growth in line with the mid- to high single-digit
target.
The significant re-rating of LWDB shares during 2020, reaching a
premium of c 6% to NAV, has partly unwound but the current c 1%
discount remains below the historical c 5-15%) range. The re-rating
may well reflect investor recognition of the value of its
differentiated proposition, highlighted by the long-term
performance trend and dividend growth in a challenging environment.
The Q121 annualised rate of DPS represents a yield of 3.6% and the
board targets a Q421 increase.
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