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BlackRock Latin American Investment Trust plc Final Results

BlackRock Latin American Investment Trust plc (LON:BRLA) annual results announcement for the year ended 31 December 2019.

FINANCIAL HIGHLIGHTS AS AT 31 DECEMBER 2019

Outperformance of index benchmark                  0.7%1,6

Revenue profit per ordinary share (+19.6%)        18.10 cents

Ordinary share price (+22.0%3,6)                      643.17 cents4

NAV per ordinary share (+18.2%3,6)                 732.15 cents

Net assets (+12.6%)                                      US$287.4 million

Total dividends (+48.2%5)                          34.89 cents

Dividend yield                                                    5.4%2,6                             

Percentage comparisons are year on year against 31 December 2018.

1     Outperformance based on cum-income NAV per share calculated relative to the MSCI EM Latin America Index (Net Return) with dividends reinvested for the year ended 31 December 2019 (all in US Dollars).
2     Yield calculated based on 4 quarterly dividends for the year ended 31 December 2019 of 34.89 cents per share and the share price as at 31 December 2019 of 643.17 cents. 2018 dividend yield based on total dividends of 23.55 cents and a share price at 31 December 2018 of 557.20 cents.
3     All calculations in US Dollars with dividends reinvested.
4     Mid-market price.
5     Dividends declared in respect of the financial year to 31 December 2019 of 34.89 cents per share compared to dividends declared in respect of the financial year to 31 December 2018 of 23.55 cents per share.
6     Alternative Performance Measure. See Glossary in the Annual Report and Financial Statements.

PERFORMANCE RECORD

31 December 2019  31 December 2018  Change % 
Net assets (US$’000)  287,444  255,245  +12.6 
Net asset value per ordinary share (US$ cents)  732.15c  650.15c  +12.6 
– with dividends reinvested1  +18.2 
Ordinary share price (mid-market) (US$ cents)2  643.17c  557.20c  +15.4 
– with dividends reinvested1  +22.0 
Ordinary share price (mid-market) (pence)  485.50p  437.50p  +11.0 
– with dividends reinvested1  +17.2 
Discount1  12.2%  14.3%  n/a 
MSCI EM Latin America Index (Net return)3  558.16  475.18  +17.5 
 
 
Year ended 
31 December 2019 
Year ended 
31 December 2018 
 
Change % 
Revenue 
Net profit after taxation (US$’000)  7,106  5,947  +19.5 
Revenue profit per ordinary share (US$ cents)  18.10  15.13  +19.6 
Dividends per ordinary share (US$ cents) 
Quarter to 31 March  8.56  n/a  n/a 
Quarter to 30 June  9.15  7.57  +20.9 
Quarter to 30 September  8.03  7.85  +2.3 
Quarter to 31 December  9.15  8.13  +12.5 
—————–  —————–  —————– 
Total dividends paid and payable (US$ cents)  34.89  23.55  +48.2 
==========  ==========  ========== 

Source: BlackRock.

1     Alternative Performance Measures, see Glossary in the Annual Report and Financial Statements.
2     Based on an exchange rate of $1.3248 to £1 at 31 December 2019 and $1.2736 to £1 at 31 December 2018.
3     The Company’s performance benchmark (the MSCI EM Latin America Index) may be calculated on either a Gross or a Net return basis. Net return (NR) indices calculate the reinvestment of dividends net of withholding taxes using the tax rates applicable to non-resident institutional investors, and hence give a lower total return than indices where calculations are on a Gross basis (which assumes that no withholding tax is suffered). As the Company is subject to withholding tax rates for the majority of countries in which it invests, the NR basis is felt to be the most accurate, appropriate, consistent and fair comparison for the Company.

 

About BlackRock Latin American Investment Trust plc

BlackRock Latin American Investment Trust plc aims to secure long-term capital growth and an attractive total return primarily through investing in quoted securities in Latin America.

For the full RNS please click here.

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