Interim Management Statement

RNS Number : 6102U

Schroder Income Growth Fund PLC

23 December 2011

 



SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the quarter ended 30 November 2011

The Board of Schroder Income Growth Fund plc (the "Company") is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 September 2011 to 30 November 2011.

Investment Objective

The Company's principal investment objectives are to provide real growth of income, being growth of income in excess of the rate of inflation, and capital growth as a consequence of the rising income.

First Interim Dividend for the year ending 31 August 2012

The Board has declared a first interim dividend of 2.00 pence per share for the year ending 31 August 2012, payable on 31 January 2012 to shareholders on the register on 6 January 2012. This compares to a first interim dividend of 1.60 pence per share paid in respect of the previous financial year. The increased rate of this dividend follows a decision by the Board that the difference between the first three interim dividends and the fourth interim dividend should be reduced.

The Board remains committed to increasing the total annual dividend level over time; however, shareholders should note that the increase in the first interim dividend compared to the previous year should not be considered indicative of an increase or decrease in the total annual dividend level for the year ending 31 August 2012.   

Annual General Meeting

The Annual General Meeting of the Company was held on 21 December 2011. All resolutions set out in the Notice of Meeting were duly passed.

Company Statistics as at 30 November 2011

Net Assets	£138.0 million
Net Asset Value per Ordinary Share (excluding current year undistributed revenue)	198.71p
Share Price	184.25p
Discount	7.3%
Number of Portfolio Holdings	43

Cumulative Performance* to 30 November 2011 (total return basis)

Performance over	3mnths	6mnths	1yr	3yr	5yr
Share Price	0.5%	(7.8)%	2.8%	42.8%	9.6%
Net Asset Value	5.9%	(3.4)%	8.5%	41.7%	10.8%
FTSE All-Share Index	2.1%	(7.4)%	2.6%	47.9%	8.8%

*Source for all performance data: Morningstar.

Portfolio Information as at 30 November 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Vodafone Group	Telecommunications	11,732,005	8.61
Royal Dutch Shell 'B'	Oil & Gas	9,644,848	7.08
British American Tobacco	Consumer Goods	8,899,514	6.53
GlaxoSmithKline	Healthcare	7,401,625	5.43
Imperial Tobacco Group	Consumer Goods	7,226,785	5.30
Unilever	Consumer Goods	6,526,228	4.79
BP	Oil & Gas	6,183,169	4.54
AstraZeneca	Healthcare	5,935,419	4.35
Legal & General	Financials	5,688,031	4.17
Reed Elsevier	Consumer Services	3,888,730	2.85

Sector Allocation

Sector	% of Net Asset Value
Financials	15.65
Consumer Goods	19.55
Consumer Services	15.25
Oil & Gas	16.23
Telecommunications	12.75
Healthcare	9.75
Industrials	5.14
Utilities	4.46
Technology	1.10
Options	(0.19)
Net current assets	0.31

Changes to Share Capital during the quarter ended 30 November 2011

None - there remain a total of 68,688,343 ordinary shares of 10p each in issue. Each share carries one voting right.

Material Events or Transactions

There have been no material events or transactions that have taken place in respect of the Company between 1 September 2011 and the date of publication of this Statement.

Company Information as at 31 November 2011

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	31 January 2012

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

23 December 2011

 

END

 

 

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