Braveheart Investment Group shares have soared 56% on Thursday’s opening bell after the group revealed plans to pay a special dividend worth more than the current share price.
The group shared interim results for the six months ended 30 September, which saw profit grow to £402,000 (2019: £122,000 loss) and revenues surge to £895,000 (2019:£250,000).
The investment group sold its stake in Remote Monitored Systems for £17.4m.
The special dividend payment is 42.75p per share. The current share price is 35.5p.
The group’s portfolio has an estimated worth of £2.61m (2019: £1.1mln).
Chief executive, Trevor Brown, said: “We are pleased to report to shareholders the results for the six months ended 30 September 2020. Progress has continued in all Group activities and detailed operational summaries follow later in this report. We are particularly pleased that as a consequence of the successful outcome generated from investments made over the last few years we are able to declare a special dividend to shareholders of 42.75 pence per share, which is expected to be paid on 10 January 2021 and the details of which are provided in a separate announcement published today, 3 December 2020.”
“We are delighted with the achievements so far made in the current financial year and are working towards being able to continue this progress in generating further value for our shareholders,” added Brown in a statement.
Braveheart Investment Group shares are currently trading +53.52% at 54,50 (1110GMT).