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Albion Venture Capital Trust mulling special dividend after sale of care homes

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Albion Venture Capital Trust PLC (LON:AAVC) saw its net asset value increase in the fourth quarter of 2020.

The unaudited net asset value (NAV) at the end of 2020 was £73.7mln, equivalent to 73.48p per share (excluding treasury shares), which was an increase of 3.89p (5.6%) per share from the end of September.

The trust said the uplift in NAV was predominantly a result of the sale of the company’s care home investments. The company completed the sale of its three care homes for the elderly; Active Lives Care Limited, Ryefield Court Care Limited, and Shinfield Lodge Care Limited.

Following the sale, the company holds a significant amount of cash, and the board is currently considering what to do with it. The payment of a special dividend is one of the options being considered.

After accounting for the recent dividend of 1.74p, the NAV is 71.74p.

Shares in Albion Venture currently trade at 68.5p, up 8.0% on the day.

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