North American Income Trust (The) Edison review on The North American Income Trust
11 October 2016 - 9:53PM
RNS Non-Regulatory
TIDMNAIT
North American Income Trust (The)
11 October 2016
London, UK, 11 October 2016
Edison issues research review on The North American Income Trust
(NAIT)
The North American Income Trust (NAIT) adopted an active
strategy in 2012, aiming to generate above-average income and
long-term capital growth primarily from investment in US and
selected Canadian equities. NAIT's performance has been
particularly strong over the last 12 months in absolute terms and
relative to its S&P 500 index benchmark and its NAV total
return is ahead of the peer group average over one, three, five and
10 years. NAIT has a progressive dividend policy - annual dividends
have compounded by 19.2% pa over the last three years and during
this time there have been regular additions to revenue
reserves.
Since the market turmoil following the UK's EU referendum,
NAIT's share price discount to cum-income NAV has narrowed below
its 12-month average of 10.7%. However, its current discount of
9.2% is wider than the averages of the last three, five and 10
years of 7.3%, 6.1% and 5.5% respectively. NAIT has a progressive
dividend policy; following the investment mandate change in 2012,
annual dividends have compounded at an annual rate of 19.2%. The
current dividend yield of 3.1% compares favourably with the peer
group.
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