Performance

Share price chart (%)

Cumulative performance (%)

Discrete performance (%)

Dividends

At the Company’s Annual General Meeting in May 2022, shareholders approved a five-for-one share split, which meant that shareholders received five new ordinary shares for each existing share previously held.

This has had an impact on the level of dividends per share, which is evident in the dividend payments made since then. On a per share basis, dividends are now one-fifth of their prior level, but because shareholders hold five times as many shares, the monetary value of the dividend is unchanged.

Past performance should not be taken as a guide to the future and dividend growth is not guaranteed. The value of your shares in Temple Bar and the income from them can fall as well as rise and you may lose money.

This Trust may not be appropriate for investors who plan to withdraw their money within the short to medium term. A portion (60%) of the Trust’s management and financing expenses are charged to its capital account rather than to its income, which has the effect of increasing the Trust’s income (which may be taxable) whilst reducing its capital to an equivalent extent. This could constrain future capital and income growth. The effect of borrowings to finance the Trust’s investments is to magnify the volatility of its price and potential capital gains and losses. We recommend that you seek independent financial advice to ensure this Trust is suitable for your investment needs.

Indices are shown for illustrative purposes only, are unmanaged and do not take into account market conditions or the costs associated with investing. Further, the manager’s strategy may deploy investment techniques and instruments not used to generate index performance. For this reason, the performance of the manager and the indices are not directly comparable.

Valuation matters

Time for value?