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This is a non-independent marketing communication commissioned by BlackRock Sustainable American Income. The report has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the dealing ahead of the dissemination of investment research.
Over the year to 31 October 2020, BRNA delivered NAV total returns of -8.9%, roughly in line with the benchmark Russell 1000 Value Index which saw a fall of -7.5%.
Although the discount widened during the period, as sentiment was hit by the COVID crisis, the trust started the period at a premium and the board issued shares throughout 2020.
Based on the final number of shares in issue at the year end, the EPS was 6.71p, an increase of 21.3% versus the previous year. Four quarterly interim dividends of 2.00p per share were paid, in line with the previous financial year. The dividend paid represented a yield of 5.5% on the share price at the year end.
- Looking forward the chairman believes that “there is a strong case that value stocks should now be well placed to outperform growth stocks as the economic picture brightens”. The managers are looking to take advantage of this through investing in “well capitalised companies with strong management teams and good cash generation”.
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