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City Natural Resources High Yield up but underperforming

CYN : City Natural Resources High Yield up but underperforming

City Natural Resources High Yield results for the year that ended on 30 June 2014 show a total return of 1.4% and a return to shareholders of 2.2% but the benchmark returned 6.1%. The dividend for the year was 5.6p, a 1.8% increase over the previous year. The increase was paid out of retained earnings however as the revenue fell to 5.45p.

The manager’s statement says that Canadian Royalty Trusts such as Vermilion Energy, up 44% over the year, Arc Resources, up 16%, Bonterra Energy, up 30%, and Crescent Point Energy, up 32% all contributed to performance. other winners included Cayden Resources, up 96% over the year, and, in the Uranium and Diamond sectors, Fission Uranium, up 102%, and Kennady Diamonds, up 237%, after early stage drilling results

 

 

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