SAINTS declared a second interim dividend of 3.75 pence per ordinary share
LONDON: The Scottish American Investment Company (SAINTS) posted modest gains in the first half of 2025, with net asset value (NAV) total return rising 1.1% and share price return climbing 3.6%, according to its unaudited interim financial report approved by the board on Aug. 4.
The company attributed the performance to resilient equity holdings and diversified investments in infrastructure and property, which helped offset currency headwinds from a strengthening dollar. SAINTS’ property investments returned 3.6% over the period.
SAINTS declared a second interim dividend of 3.75 pence per ordinary share, bringing the total interim payout to 5.4% higher than the same period in 2024. The board expects 2025 to mark the company’s 52nd consecutive year of dividend growth.
The investment trust also repurchased over six million shares—about 3.4% of its issued share capital at the start of the year—at a cost of £30.9 million. All buybacks were executed at a discount to NAV, enhancing shareholder value.
Chairman Peter Moon reiterated the company’s long-term commitment to inflation-beating income growth and capital appreciation. “SAINTS has been working for individual investors for over 150 years. It is built for resilience,” Moon said.
The board is nearing the conclusion of a recruitment process to appoint a new director and chairperson designate, expected to be announced in the coming weeks. The new chairperson will assume the role following the AGM in April 2026.
Despite market volatility and macroeconomic concerns, SAINTS’ managers remain optimistic. “We take considerable comfort from the nature of SAINTS’ investments and their operational performance,” Moon added.
The company’s long-term borrowings stood at £94.7 million at book value, equivalent to 10.3% of shareholders’ funds, with a fair value of £62 million.
SAINTS’ NAV return matched global equities, which returned 1% over the same period, as measured by the FTSE All-World Index in sterling terms.