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F&C Pacific Investment Trust maintains dividend

Foreign and Colonial Pacific Investment Trust plc has recorded a 14 per cent fall in the share price and fall in the net asset value per share of 6.1 per cent this year.


But the board has declared an unchanged dividend of 0.8p in its interim statement of results for the half year ending 31 July.


The fund manager is maintaining its defensive strategy in response to currency and stock market turmoil in Asia.


Foreign & Colonial head of the Japanese desk Ian Wright says: &#34We are never happy to lose share holders&#39 money but in the context of the Asian market we have achieved a relatively good outcome.&#34


The board has also outlined plans to seek shareholder approval for a share buyback programme at the June 1999 AGM.

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