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Performance

Total Return

As at 31 March (Unless otherwise stated)

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.

 

 

Tax Year Net Asset Value at 30 June 2025 Cumulative Dividends Paid Since Fundraising Total Return to Date Offer Price IRR
Pence Pence Pence Pence Percentage
1996 81.35 184.15 265.50 100.0 5.2%
1997 81.35 181.15 265.50 100.0 5.4%
1998 81.35 177.40 258.75 105.0 5.2%
2005 (C Share) 91.49 168.31 259.80 100.0 7.7%
2006 81.35 153.75 235.10 99.5 7.8%
2007 81.35 149.25 230.60 102.5 7.8%
2008 81.35 144.25 225.60 106.3 7.7%
2010 81.35 134.25 215.60 97.3 9.8%
2011 81.35 128.00 209.35 128.0 6.1%
2012 81.35 104.95 186.30 99.8 7.6%
2013 81.35 99.95 181.30 95.8 8.6%
2014 81.35 93.45 174.80 100.8 8.0%
2015 81.35 85.45 166.80 99.5 8.2%
2016 80.6 75.45 156.80 102.3 7.1%
2017 81.35 53.45 134.80 84.6 7.8%
2019 81.35 36.75 118.10 76.0 9.0%
2021 81.35 26.75 108.10 73.6 11.2%
2022 81.35 17.75 99.10 86.1 4.6%
2023 81.35 9.25 90.60 85.1 3.0%

Notes (1) Total Return to date is the cumulative dividends paid plus the 30 June 2025 net asset value in pence per ordinary share. (2) The offer price for the relevant year excluding the benefit of income tax relief available to investors at the time of the offer. (3) IRR is the unaudited annual rate of return that equates the offer price at the date of the original investment, with the value of subsequent dividends plus the 30 June 2025 net asset value per ordinary share. This excludes the benefit of any initial tax relief. It is too soon to give meaningful returns for the fundraisings in 2024 and 2025.

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.

Cumulative Dividends Paid to 30 June 2025 184.15 pence per share
Dividends paid/announced since 30 June 2025 Pence per share
25 July 2025 2.00
Dividends paid to 30 June 2025 Pence per share
27 January 2025 1.25
20 December 2024 2.00
26 July 2024 2.00
8 December 2024 2.00
28 July 2023 2.00
11 January 2023 4.50
3 October 2022 2.00
12 July 2022 2.00
5 January 2022 2.00
16 November 2021 5.00
23 July 2021 2.00
5 October 2.00
31 July 2020 2.00
20 March 2020 2.00
12 June 2019 4.00
15 February 2019 7.00
18 May 2018 4.00
26th May 2017 5.75

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.

 

Total Return

As at 31 December (Unless otherwise stated)

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.

Tax Year Net Asset Value at 30 June 2025 Cumulative Dividends Paid Since Fundraising Total Return to Date Offer Price IRR
Pence Pence Pence Pence Percentage
2001 55.05 91.75 146.80 100.0 2.2%
2002 55.05 91.75 146.80 100.0 2.4%
2010 55.05 69.75 124.80 77.3 4.7%
2011 55.05 65.75 120.80 70.3 5.7%
2012 55.05 61.75 116.80 70.5 5.7%
2013 55.05 57.25 112.30 68.0 6.0%
2014 55.05 52.75 107.80 68.0 5.9%
2015 55.05 48.25 103.30 65.0 6.4%
2016 55.05 43.75 98.80 63.0 6.5%
2017 55.05 39.25 94.30 62.2 6.7%
2018 55.05 36.25 91.30 59.4 8.0%
2019 55.05 28.25 83.30 56.3 8.1%
2021 55.05 20.25 75.30 53.5 9.9%
2022 55.05 13.75 68.80 61.7 3.5%
2023 55.05 8.50 63.55 61.0 1.9%

Notes (1) Total Shareholder Return to date is cumulative dividends paid plus the 30 June 2025 net asset value in pence per ordinary share. (2) The offer price for the relevant year, excluding the benefit of income tax relief available to investors at the time of the offer. (3) IRR is the unaudited annual rate of return that equates the offer price at the date of the original investment, with the value of subsequent dividends plus the 30 June 2025 net asset value per ordinary share. This excludes the benefit of any initial tax relief. It is too soon to give meaningful returns for the fundraisings in 2024 and 2025

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.

Cumulative Dividends Paid to 30 June 2025 91.75 pence per share
Dividends paid/announced since 30 June 2025 Pence per share
31 October 2025 1.50
Dividends paid to 30 June 2025 Pence per share
23 June 2025 1.50
27 January 2025 1.50
1 November 2024 1.50
28 June 2024 1.50
3 November 2023 1.50
26 June 2023 1.50
11 January 2023 2.25
3 October 2022 1.50
6 May 2022 1.50
16 November 2021 5.00
25 October 2021 1.50
5 March 2021 1.50
21 September 2020 1.50
12 May 2020 2.00
23 September 2018 1.50
10 May 2019 1.50
15 February 2019 5.00
28 September 2017 1.50
11th May 2017 1.50

Past performance is not a guide to future performance and may not be repeated. Performance forecasts are not a reliable indicator of future performance. The value of investments may go down as well as up and you may not get the full amount invested back.