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APQ Global on track to meet target annual dividend

The AIM-listed investment company said it ended the third quarter with a “fairly defensive positioning”

APQ Global - APQ Global on track to meet target annual dividend yield
The firm has interests across Asia, Latin America, Eastern Europe, the Middle East and Africa

APQ Global PLC (LON:APQ) ended the third quarter with “fairly defensive positioning” but is on track to meet its target annual dividend yield of 6%.

The investment company, which has interests across Asia, Latin America, Eastern Europe, the Middle East and Africa, paid a quarterly dividend of US$1.84 cents while book value was US$0.88 per share (69p) at the end of September.

The portfolio “rebounded significantly” over the past three months, the AIM-listed firm said, with a 3% improvement in the past month.

Income will fully cover the dividend this year said APQ, Net of funding costs, 44% of total income came from the foreign exchange portfolio, 19% from the credit portfolio with the remaining 37% from the equity and strategic portfolios.

The multitude of risks around the world remain in focus, said APQ.

“The US-China trade war shows little signs of abating, the monetary policy outlook in the US and Europe increasingly points to a significant slowdown in the world economy going into next year and President Trump continues to throw the book at the post-war economic order. “

Shares were unchanged at 68.5p.

Quick facts: APQ Global

Price: 68.5 GBX

AIM:APQ
Market: AIM
Market Cap: £53.6 m
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