Business
Annual report & accounts
Annual report & accounts.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n JUPITER SECOND ENHANCED INCOME TRUST PLC\n\nPreliminary announcement of the audited results for the year ended 31st October\n2006.\n\n CHAIRMAN'S STATEMENT\n\nI am pleased to report that your Company has enjoyed another successful year.\n\nThe total assets less current liabilities of your Company rose by 18.6 per cent.\nduring the year to 31st October 2006. By comparison the performance of the\nCompany's benchmark index, the FTSE All-Share Index, was 17.9 per cent. (in\ncapital terms).\n\nThe geared split capital structure of the Company meant that the return on the\nNet Asset Value of the Company's Geared Income shares was enhanced by 33.2 per\ncent. during the year under review. Taking the dividend payments into account\nthe Company provided Geared Income shareholders with a total return of 39.9 per\ncent., which compares favourably with a total return on the FTSE All-Share Index\nof 22.1 per cent. over the same period.\n\nThe Zero Dividend Preference shares enjoyed an increase in their Net Asset Value\nof 7.5 per cent. over the year under review from 63.03p to 67.75p.\n\nThe Packaged Units are not geared by the Company's split capital structure since\nthey each comprise one Geared Income share and one Zero Dividend Preference\nshare. The return on the Net Asset Value of the Packaged Units was 18.6 per\ncent. over the period.\n\nI am pleased to report that, as anticipated in the Interim Report, your Company\nhas been able to increase the total dividend paid for the year from 3.05p in the\nyear to 31st October 2005 to 3.15p in the year under review which represents a\n3.3 per cent. increase in dividends on last year. This represented a yield of\n5.9 per cent. on the middle market price of the Geared Income shares of 53.5p on\n31st October 2006. It is hoped by your Board that the Company will be in a\nposition to continue to improve dividend payments to shareholders year on year.\n\nAt the AGM your Board is seeking to renew its powers to buy back shares for\ncancellation. This can be a useful tool for enhancing the Net Asset Value of\nthe Geared Income shares and/or enhancing the cover on Zero Dividend Preference\nshares in certain circumstances. The repurchase of shares will only be\nundertaken after taking into consideration the interests of both classes of the\nCompany's shares at the time that the opportunity arises.\n\nT...