- Private equity investor Princess Private Equity said its net asset value per share had slumped 14% during the month of March and that it planned to cut its dividend.

The fall in valuation was pinned on market volatility sparked by the Covid-19 pandemic.

Princess Private Equity paid a total dividend in 2019 of 58 Euro cents per share but said it would not be prudent to maintain the payout at that level in 2020.

It said it expected to pay a total dividend in 2020 of not less than 29 Euro cents per share.

'The timing of dividend payments will reflect the investment advisor's ongoing assessment of the potential capital requirements to support the portfolio,' Princess Private Equity said.

'The company may pay a partial first interim dividend, or the first interim dividend may be suspended if visibility has not improved.'

At 9:45am: [LON:PEY] Princess Private Equity Holding Ltd share price was -0.59p at 8.71p

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