Jupiter Primadona grows dividend by 40%

Jupiter Primadona Growth Trust, the £48 million investment company, has declared a year-end dividend for 2010 nearly 40% above its payout in its last financial year.

For the year ended 30 June, shareholders in the well-followed growth company will receive a net final dividend of 25.0p, 38% above the dividend paid 12 months earlier.

The declaration brings the total payout for 2010 to 38.75p, which equates to a 40.9% rise on the total dividend paid out in 2009.

Strong results

Over the year to the end of August, the investment company, run by Richard Curling (pictured) and Derek Pound, outstripped its benchmark by around 5%.  Its ordinary share net asset value (NAV) grew 19.5% during the 12-month stretch while the FTSE World (ex UK) Index rose by a lesser 14.5%.

The trust trades at a relatively wide discount – 11% – compared to its historic low of close to -6%.  Shares are priced 990.0p,