- Investment company Scottish Mortgage Investment Trust posted a positive annual performance that beat its benchmark.

The company upped its total dividend for the year through March 2020 by 4% to 3.25p per share.

Its net asset value total return for the year rose 13.7%. That compared to a 6.2% fall in the FTSE All-World Index and a global sector average return of 0.1%.

'Scottish Mortgage is in a very fortunate and stable position,' chairman Fiona McBain said.

'Its scale, low cost base and corporate structure are all important long run competitive advantages, and never more so than in the current environment,' she added.

'The board believes that the level of the long run total return generated for Scottish Mortgage continues to justify supporting those of its shareholders who do value the company's modest but progressive distribution policy.'

At 8:06am: [LON:SMT] Scottish Mortgage Investment Trust PLC share price was +17.5p at 692.5p

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