Lowland Investment Company announced its annual financial results for the year ended 30 September 2019. The NAV total return was -9.6% compared with the benchmark total return of 2.7%. NAV per share at the year-end stood at 1,428p. Total dividends for the year increased 10.2% to 59.5p.
The company aims to give shareholders a higher-than-average return with growth of capital and income over the medium-to-long-term. It typically invests in a combination of large, medium and smaller companies listed in the UK.
The company measures its performance against the FTSE All-Share Index Total Return. The company has underperformed the benchmark over five years, while the performance remains robust over 10-20 years. The board expects to stick to the investment style, which has served shareholders well over the long term.