TOC Property Backed Lending Trust (GB:DVNO) has released an update.
Develop North PLC reports a Net Asset Value total return of 3.4% for the first half of 2024, with dividends totaling 2 pence per share and a reduced loan to value ratio of 63.3%. The company successfully repurchased 1.3 million shares, enhancing NAV per share by 0.4%, and remains focused on the North East of England, with 74% of its portfolio deployed there. Amidst UK economic recovery signs and a potential change in government, the company shows resilience with sustained shareholder support and strategic investments.
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